HomeMy WebLinkAboutORD 2646.·,,;;
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• • ORIGINAL·
ORDINANCE NO. Z646
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ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE B~DGET FOR THE FISCAL YEAR. 1971-1972
PROVIDING FOR THE LIQUIDATION OF THE RESERVE FOR.
THE DIXON-PROPERTY IN THE CAPtTAL IMPROVEMENT FUND
,; \ WHEREAS; pursuant to the provisions of. iiection 12 of Articie
III ·of the Charter· ·of the City of Palo Alto, the Council did on.
. . . . -; June 21;.1971, adopt a budget for t:he fiscal year 1971-1972; and
WHEREAS, the council wis_hes to make an additional appi:c:ipriation
in exc~ss 'bf ·the sums appropriated ·i>y safd budget for settl~ment_
of the Dj,xon Estate and to . liquidate the Reserve for Dixon Property
in the Capital: !mprovement Fund.
NOW, TH~REFORE, the Council of the ~ity-of Palo Alto does
ORDAIN as follow:?:
SECTION 1. That the appropr.iated balance of the ·capit.al Improve..:
inent Funds· be. inc1:eased. in the .amout1t of, $37, 500 to·. provide· f.or the,
settlement of obligatiotjs arising from,,t_he Dixon Estate; t:hat the
unappropriated balance be incre.ase~ in the amouht of $37 ,soo and
th¢ Reserve for Dixon property fn the -Capi. taf. ImI>rovemen t FUD;ds in . ,
the amount of $ 7 5 ~ 00 o .be liqui.d.at.·~~,. ~iid exti'nguH;hed · 1n i ~if: en.tirety. ·
SBCTIC)N 2., _,_ -'fh!s · ordina_nc~ shall' becomE! effeeti va· i~~4iately
a·~;· J:'.>rovided in: 'S'e.6'f.1on J.2 of Attible tfr 6£ :,the ch~rter ~~~, section
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':Lo4~37S of the Pale>:~ltp Murticipaj.:.cod~< -. . ~ . . -~
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lNTRODUCED ·-A.No-· i?As~:Eo :· ·. )?e~:rU~t{l4~-i 972
uN ANrMous :. :.· ..
NOES: NONE
: ABSENT' :.;/::RO'NE
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·"APPRQVED A$ 'To FORMf··. . .
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APPROVED: . . ·.. .
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