HomeMy WebLinkAboutRES RD 1997 62 1997 0618RESOLUTION NUMBER 97 - 62
RESOLUTION OF THE MOORPARK REDEVELOPMENT AGENCY ESTABLISHING
AND ADOPTING THE MOORPARK REDEVELOPMENT AGENCY'S BUDGET FOR
FISCAL YEAR 1997/1998 (FROM JULY 1, 1997 TO JUNE 30, 1998)
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.),
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 1997/1998 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 18th da)
ATTEST:
Lillian E. Hare, Agency Secretary
EST"> °.iSHED
J. 1987
Y OF �,v
Exhibit "A"
Moorpark Redevelopment Agency
Summary of Fund Balance and Estimated Revenues and Expenses
Fiscal Year 1997/1998
ITEM
REVENUES
EXPENSES
BALANCE
Estimated Fund Balance - 06/30/97
$12,540,607
REVENUES FY 1997/1998
Tax Increment Revenues
1,634,184
Interest Income
46,000
Property Payments
107,424
Miscellaneous
779,200
Sub - Total: REVENUES
$2,566,808
EXPENSES FY 1997/1998
Bond Debt Service
(775,294)
Debt Service to City
(350,000)
Operations Payment to City (FY 97/98)
(1,223,197)
Capital Projects
(60,000)
Pass Through Payments
(782,449)
Sub- Total: EXPENSES
($3,190,940)
Estimated Fund Balance - 06/30/98
$11,916,475
RESERVED for Affordable Housing
1,938,555
RESERVED for Debt Service
810,497
RESERVED for Capital Projects
9,167,423
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. 97 -62
was adopted by the Redevelopment Agency of the City of
Moorpark at a meeting held on the 18th day of
JUNE , 1997, and that.the same was adopted by the
following vote:
AYES: AGENCY MEMBERS EVANS, PEREZ, RODGERS TEASLEY, WOZNIAK
NOES: AND CHAIRMAN HUNTER
NONE
ABSENT: NONE
ABSTAIN: NONE
WITNESS my hand and the official seal of said City
this 25th day of JUNE 1997.
illian E. Hare, CMC
Secretary
(Seal)
`( ESTABLISHED .`
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