HomeMy WebLinkAboutRES RD 1996 43 1996 0619RESOLUTION NUMBER 96 - 43
RESOLUTION OF THE MOORPARK REDEVELOPMENT AGENCY ESTABLISHING
AND ADOPTING THE MOORPARK REDEVELOPMENT AGENCY'S BUDGET FOR
FISCAL YEAR 1996/1997 (FROM JULY 1, 1996 TO JUNE 30, 1997)
WHEREAS, by Ordinance Number 87 adopted on March 18, 1987, the City
Council of the City of Moorpark acting pursuant to the provisions of the California
Community Redevelopment Law (Health and Safety Code Section 33000 et seq.), has
activated the Moorpark Redevelopment Agency; and,
WHEREAS, by Ordinance Number 110 adopted on July 5, 1989, the City
Council approved and adopted the Redevelopment Plan for the Moorpark
Redevelopment Agency (the "Agency "); and,
WHEREAS, the Agency has financial obligations for fiscal year 1996/1997 and
wishes to budget for these obligations.
NOW, THEREFORE, THE MOORPARK REDEVELOPMENT AGENCY DOES HEREBY
RESOLVE AS FOLLOWS:
Section 1. The Agency hereby determines that the continued operation and
maintenance assistance of the Agency's Redevelopment Department is in the
furtherance of the goals and objectives of the Redevelopment Plan in the elimination of
blight, including: social, economic, and physical blight as defined in the California
Community Redevelopment Law; and,
Section 2. The Agency has funds that are available from various sources which
are shown in Exhibit "A" attached hereto.
PASSED, APPROVED AND ADOPTED this 19th day of June, 1996.
Paul W. Lawrason Jr., Chdirman
ATTEST: 0f't`:.NT
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i E. Hare, Agency Secretary `987
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Exhibit "A"
Moorpark Redevelopment Agency
Summary of Cash Fund Balance and Estimated Revenues and Expenses
Fiscal Year 1996/1997
ITEM
REVENUES
EXPENSES
BALANCE
Estimated Fund Balance - 06/30/96
$12,385,947
REVENUES FY 1996/1997
Tax Increment Revenues
1,455,900
Interest Income
585,000
Property Payments
72,400
Miscellaneous
40,000
Sub - Total: REVENUES
$2,153,300
EXPENSES FY 1996/1997
Bond Debt Service
(775,199)
Debt Service to City
(350,000)
Operations Payment to City (FY 96/97)
(802,367)
Capital Projects
(1,761,300
Pass Through Payments
(110,332)
Sub - Total: EXPENSES
($3,799,198)
Estimated Fund Balance - 06/30/97
$10,740,049
RESERVED for Affordable Housing
(2,753,819)
RESERVED for Debt Service
(850,299)
UNDESIGNATED RESERVE
$7,135,931
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK )
I, Lillian E. Hare, Secretary of the Redevelopment Agency of
the City of Moorpark, California, do hereby certify under
penalty of perjury that the foregoing Resolution No. 96 -41
was adopted by the Redevelopment Agency of the City of
Moorpark at a meeting held on the %9�'day of
, 1996, and that the same was adopte by the
following vote:
AYES: AGENCY MEMBERS BROWN, HUNTER, PEREZ AND CHAIRMAN LAWRASON
NOES: NONE
ABSENT: AGENCY MEMBER WOZNIAK
ABSTAIN: NONE
WITNESS my hand and the official seal of said City
this 10th day of JULY 1996.
Lillian E. Hare
ppMENT�s Secretary
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