HomeMy WebLinkAboutRES CC 2016 3470 2016 0120 RESOLUTION NO. 2016-3470
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MOORPARK, CALIFORNIA, AMENDING
THE FISCAL YEAR 2015/16 BUDGET TO
APPROPRIATE FUNDS FROM LOS ANGELES
AVENUE AREA OF CONTRIBUTION FUND (2501),
TO REFUND CASH BOND TO SHEA HOMES, LP
FOR CONSTRUCTION IMPROVEMENTS ON LOS
ANGELES AVENUE
WHEREAS, in May 7, 2010, Shea Homes, LP paid a $273,310.78 cash deposit for
the improvements on Los Angeles Avenue fronting their residential project Tract 5425.
This was recorded as an Area of Contribution Fee in the Los Angeles Avenue Area of
Contribution Fund (2501); and
WHEREAS, on November 13, 2013, the First Amendment to the Subdivision
Improvement Agreement was signed, in which Shea agreed to build the said
improvements and the City will hold the $273,130.78 in cash deposit that Shea deposited
with the City for their portion of the Los Angeles Avenue improvements. The City shall
refund the $273,130.78 after Shea provides the approved Caltrans Encroachment Permit
(Caltrans EP) and submits a surety for their portion of the improvements; and
WHEREAS, the Caltrans EP was received in February 2014, and the surety was
received on July 2014 and therefore both requirements have been met; and
WHEREAS, on June 17, 2015, the City Council adopted the Operating and
Capital Improvements Projects budget for Fiscal Year 2015/16; and
WHEREAS, a staff report has been presented to the City Council recommending
the release of the cash bond for Shea and requesting an appropriation of $273,130.78
from Los Angeles Avenue Area of Contribution Fund (2501); and
WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said
budget amendment and its resultant impact to the budget line item.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That a budget amendment in the aggregate increase of
$273,130.78 as more particularly described in Exhibit "A", is hereby approved.
Resolution No. 2016-3470
Page 2
SECTION 2. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 20th day of January, 2016.
J. ice S. Pa-vin, Mayor
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Attachment: Exhibit 'A': Appropriation and Budget Detail
Resolution No. 2016-3470
Page 3
EXHIBIT "A"
BUDGET AMENDMENT FOR
LA AOC FUND (2501)
TO APPROPRIATE FUNDING FOR THE REFUND OF CASH BOND
TO SHEA HOMES, LP TRACT 5425
FISCAL YEAR 2015-2016
FUND ALLOCATION FROM:
Fund Account Number Amount
LA AOC 2501-5500 $ 273,130.78
Total $ 273,130.78
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number Current Budget Revision Amended Budget
2501.8410.0000.9851 $ 273,130.78 $ 273,130.78
Total $ - $ 273,130.78 $ 273,130.78
Resolution No. 2016-3470
Page 4
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK )
I, Maureen Benson, City Clerk of the City of Moorpark, California, do hereby
certify under penalty of perjury that the foregoing Resolution No. 2016-3470 was
adopted by the City Council of the City of Moorpark at a regular meeting held on the
20th day of January, 2016, and that the same was adopted by the following vote:
AYES: Councilmembers Mikos, Millhouse, Pollock, Van Dam, and Mayor Parvin
NOES: None
ABSENT: None
ABSTAIN: None
WITNESS my hand and the official seal of said City this 27th day of January,
2016.
Maureen Benson, City Clerk
(seal)
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