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Home My WebLink About2015-06-29 Ordinance 5335DocuSign Envelope 10: 1AFAF6AF-FA7B-4F95-8E9C-739BE803E3C4 Ordinance No. 5335 ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AMENDING THE BUDGET FOR FISCAL YEAR 2016 FOR THE BUSINESS IMPROVEMENT DISCTIRCT FUND TO REDUCE REVENUE ESTIMATES FOR ASSESSMENTS BY $40,000 AND REDUCE EXPENDITURES BY $11,800. The Council of the City of Palo Alto does ORDAIN as follows: SECTION 1. The Council of the City of Palo Alto finds and determines as follows: A. Pursuant to the provisions of Section 12 of Article Ill of the Charter of the City of Palo Alto, the Council on June 15, 2015 did adopt a budget for fiscal year 2016; and --~·--·. -· ··------ B. The Fiscal Year 2016 Adopted Budget assumed a revenue estimate in the amount of $140,000 and expenditures in the amount of $148,000. C. Due to scheduling conflicts, after the release of the Fiscal Year 2016 Proposed Budget, staff worked with the PADBPA to evaluate certain assumptions related to potential assessment income and to set the BID budget based upon realistic expectations of the BID's performance. As a result of this effort, staff is proposing to amend the BID budget for Fiscal Year 2016 to align BID revenue and expenditures with prior performance; and D. City Council authorization is needed to amend the 2016 budget as hereinafter set forth. SECTION 2. The revenue estimates for assessments in the Business Improvement District Fund is hereby reduced by Forty Thousand ($40,000). SECTION 3. The Business Improvement District Fund budget is hereby reduced by Eleven Thousand Eight Hundred Dollars ($11,800), and the ending fund .balance in the BID fund is reduced by Twenty Eight Thousand Two Hundred Dollars ($28,200) with the Fiscal Year 2016 ending fund balance projected to be zero. SECTION 4. As specified in Section 2.28.080(a) of the Palo Alto Municipal Code, a two-thirds vote of the City Council is required to adopt this ordinance. SECTION 5. As provided in Section 2.04.330 of the Palo Alto Municipal Code, this ordinance shall become effective upon adoption. II II 1 5874/mb Revised June 29, 2015 DocuSign Envelope ID: 1AFAF6AF-FA7B-4F95-8E9C-739BE803E3C4 SECTION 6. The actions taken in this ordinance do not constitute a project requiring environmental review under the California Environmental Quality Act (CEQA). INTRODUCED AND PASSED: June 29, 2015 AYES: BERMAN, BURT, FILSETH, HOLMAN, KNISS, SCHARFF, SCHMID, WOLBACH NOES: ABSENT: DUBOIS ABSTENTIONS: NOT PARTICIPATING: ATIEST: ~06\;~ ~ . City Clerk APPROVED AS TO FORM: lrDocuSigned by: ~~0~~9 .. Senior Assistant City Attorney 5874/mb 2 Mayor APPROVED: QDocuSigned by: &·1t'(t-p 39E7298FB2084QB City Manager rDocuSigned by: ~/, {)~, .. B2ADE35ED7C5496 ... Director of Administrative Services Revised June 29, 2015 Certificate Of Completion Envelope Number: 1AFAF6AFFA7B4F958E9C739BE803E3C4 Subject: Please DocuSignthis document: BAO 5335-FY 16 BID Budget.pdf Source Envelope: Document Pages: 2 Certificate Pages: 5 AutoNav: Enabled Envelopeld Stamping: Enabled Record Tracking Status: Original 7/6/2015 9:37:52 AM PT Signer Events Cara Silver cara.silver@cityofpaloalto.org Senior Assistant City Attorney Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Accepted: 7/6/20151:47:40 PM PT ID: 2aa 722ab-7399-4fec-9bd4-9bcae3a652cf Lalo Perez Lalo.Perez@CityofPaloAito.org Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Accepted: 7/6/2015 8:40:31 PM PT ID: c793a51 c-4126-4f1f-8b58-d86e8c6c425e James Keene james.keene@cityofpaloalto.org City Manager City of Palo Alto Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Accepted: 4/14/2015 5:40:07 PM PT ID: 44fe333a-6a81-4cb 7 -b 7d4-9254 73ac82e3 In Person Signer Events Editor Delivery Events Agent Delivery Events Intermediary Delivery Events Signatures: 3 Initials: 0 Holder: Kim Lunt kimberly.lunt@cityofpaloalto.org Signature ((DocuSigned by: ~:.0~::,9 Using IP Address: 199.33.32.254 "DocuSigned by: L..:'M /),.,.,. B2AOF35ED7C5496 ... Using IP Address: 162.232.168.58 Signed using mobile Using IP Address: 199.111.1.65 Signature Status Status Status Docu~ i SHUIIJP Status: Completed Envelope Originator: Kim Lunt 250 Hamilton Ave Palo Alto , CA 94301 kimberly.lunt@cityofpaloalto.org IP Address: 199.33.32.254 Location: DocuSign Timestamp Sent: 7/6/2015 9:40:01 AM PT Viewed: 7/6/2015 1:46:52 PM PT Signed: 7/6/2015 1:47:54 PM PT Sent: 7/6/20151:47:55 PM PT Viewed: 7/6/2015 8:33:16 PM PT Signed: 7/6/2015 8:40:57 PM PT Sent: 7/6/2015 8:40:59 PM PT Viewed: 7/23/2015 11:26:58 AM PT Signed: 7/23/2015 11:27:08 AM PT Timestamp Timestamp Timestamp Timestamp