2012-030 CIP ProjectsRESOLUTION 2012-30
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ENCINITAS
DECLARING ITS INTENT TO OFFICIALLY RESCIND RESOLUTION No. 2006-35, A
RESOLUTION WHICH ORIGINALLY DECLARED THE CITY'S INTENTION TO
SEGREGATE CERTAIN CAPITAL PROJECT FUNDING SOURCES IN A SPECIAL
RESTRICTED CITY FUND FOR ACCOUNTING AND CAPITAL PROJECT FUNDING
PURPOSES
WHEREAS, Resolution No. 2006-35 was passed, approved, and adopted by the City
Council of the City of Encinitas on the 23`d day of August, 2006,
WHEREAS, Resolution No 2006-35 required that all funds specified under that
Resolution, including interest earned thereon, be maintained in a special restricted fund, and that
their use should be restricted to the funding of three (3) designated capital projects,
WHEREAS, since that date, all of the specified restrictions contained in that Resolution
have been continuously satisfied,
WHEREAS, Section 3. Changes on the Restrictions contained herein. of Resolution
No 2006-35 states that. "Any changes to the use restrictions created herein must be made via
City Council action rescinding this Resolution and further directing the use and disposition of the
existing fund balances at the time "
WHEREAS, The City Council of the City of Encinitas now desires and intends to
officially rescind Resolution No. 2006-35
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF ENCINITAS AS FOLLOWS:
Section 1. Declaration of Intent - the City Council hereby declares its intent to
officially rescind, in its entirety, all of the actions taken in the adoption of Resolution No. 2006-
35
Section 2. Changes to the Restrictions contained in Resolution No. 2006-35 - the
City Council hereby directs that all remaining existing fund balances in the special restricted
fund (Fund #119) be transferred to the City's General Fund (Fund #101), and that all existing
capital appropriations related to the monies be maintained consistent with the capital projects to
which they are currently assigned. Any remaining unappropriated fund balance shall be
designated, at the earliest possible opportunity, to one of the two remaining capital projects
originally designated in Resolution No. 2006-35. The assignment of that remaining fund balance
is entirely at the discretion of the City Council
Section 3. Future changes to the resulting capital appropriations created under
Resolution No. 2012-30 - Upon the transfer of the remaining monies (either appropriated or
unappropriated) to the City's General Fund (Fund #101), the City Council shall henceforth
direct, at its sole discretion, the assignment of these funds for whatsoever purpose as they may
see fit.
Section 4. Effective Date - This Resolution shall take effect upon adoption. The
transfer of the remaining funds and related appropriations shall take place no later than June 30,
2012
PASSED, APPROVED AND ADOPTED by the City Council of the City of Encinitas
this 20th day of June, 2012 by the following vote to wit,
AYES Barth, Bond, Gaspar, Muir, Stocks.
NAYS None
ABSENT None
ABSTAIN None
F'
Jerom Stocks
or, City of Encinitas
ATTEST:
Kathy ollyw od
City Clerk, City of Encinitas