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RESOLUTION NO. R-34-23 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON TO <br /> AMEND THE FISCAL YEAR 2022/2023 CAPITAL IMPROVEMENT BUDGET TO <br /> APPROPRIATE FUNDING FOR THE FISCAL YEAR 22/23 ASPHALT PAVING <br /> 3 PROJECT <br /> 4 WHEREAS, the City intends to support the City's goal to improve the City's traffic safety <br /> and infrastructure; and <br /> 5 <br /> WHEREAS, the City of Colton and the City of Grand Terrace intend to jointly improve <br /> 6 segment of Litton Avenue, Rosedale Avenue and Palm Avenue; and <br /> 7 WHEREAS, the total cost of the joint project is $264,815; and <br /> 8 WHEREAS, the City of Colton contribution to the joint project in the amount of$104,943 <br /> are available in expenditure account no. 218-2310-6150-3890 and 218-2311-6150-3890; <br /> 9 and <br /> 10 WHEREAS, the City of Grand Terrace contribution for the rehabilitation of segment of <br /> Litton Avenue, Rosedale Avenue and Palm Avenue is $159,872; and <br /> 11 <br /> WHEREAS, a budget appropriation for approved activities, not listed in 2022-2023 Fiscal <br /> Year budget is required and must be approved by resolution of the City Council. <br /> 13 NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br /> 14 COLTON DOES HEREBY RESOLVE AS FOLLOWS: <br /> 15 Section 1 The Recital preceding in this Resolution are true and correct and are <br /> incorporated into this Resolution by reference. <br /> 16 <br /> Section 2 The City Council authorizes and appropriation of$159,872.00. As an <br /> 17 adjustment to the Fiscal Year 2022-2023 budget as follows: <br /> 18 • Establish expense account 450-23XX-XXXX-3890-0000-000 in the <br /> 19 amount of$159,872.00. <br /> 20 • Increase revenue account 450-5790-000 in the amount of$159,872. <br /> 21 PASSED, APPROVED AND ADOPTED THIS 16th DAY OF MAY 023. <br /> 22 <br /> 23 <br /> 24 J. AR <br /> Mayor <br /> 25 ATTEST: <br /> 26 -- / <br /> STEPHANIE M. VARGA <br /> 28 Deputy City Clerk <br />