HomeMy WebLinkAbout2012-04-23 Ordinance 5155ORDINANCE NO. 5155
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR FISCAL YEAR 2012 TO PROVIDE
ADDITIONAL APPROPRIATION OF $410,000 WITHIN THE
STANFORD RESEARCH PARK/EL CAMINO FUND FOR THE
CITY'S CONTRIBUTION TO THE OREGON EXPRESSWAY
IMPROVEMENT PROJECT
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
III of the Charter of the City of Palo Alto, the Council on
June 20, 2011 did adopt a budget for Fiscal Year 2012; and
B. The County of Santa Clara is leading design and
construction operations for intersection and roadway
improvements on Oregon Expressway from Page Mill Road to
Highway 101; and
C. The County of Santa Clara is funding the projeCt with
Measure B funds, County Road Funds, federal earmar~ funds, and
local match; and
D. The City of Palo Alto's share of local matching funds
is thirteen percent of construction costs for the project, or
$410,000; and
E. The City's local match will be provided by through
previously collected traffic fees from the Stanford Research
Park Program. These revenues have been deposited to the
Stanford Research Park/El Camino Fund; and
F. City Council authorization is needed to amend the
Fiscal Year 2012 Stanford Research Park/El Camino operating
budget as hereinafter set forth.
SECTION 2. The sum of Four Hundred Thousand Ten Dollars
($410,000) is hereby appropriated to Interagency Expense in
the Stanford Research Park/El Camino budget and the Stanford
Research Park/El Camino Fund Reserve is correspondingly
reduced.
SECTION 3. The Stanford Research Park/El Camino Fund
Reserve is hereby reduced by Four Hundred Ten Thousand Dollars