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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-24-01 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />AMENDING THE FY00-01 BUDGET TO ALLOCATE <br />FUNDING FOR POWER RESOURCE DEVELOPMENT— <br />MAGNOLIA POWER PROJECT STUDY PHASE <br />WHEREAS, the City Council approved an operating budget for Fiscal Years 1999-2000 <br />and 2000-01 for the City of Colton on June 30, 1999 (the Budget); and <br />WHEREAS, an amendment to the 2000-01 budget is deemed necessary; <br />NOW, THEREFORE, the City Council of the City of Colton hereby resolves as follows: <br />SECTION 1: The Budget is hereby amended to allocate $450,000 for Power <br />Resource Development — Magnolia Power Project Study Phase. <br />SECTION 2: With regard to revenue sources for funding of the allocation for Power <br />Resource Development Capital set forth in Section 1 hereof, the following budget <br />amendments are adopted: <br />1. The Electric Utility Retained Earnings is hereby <br />decreased in the amount of $450,000 <br />2. The Power Resource Development Capital <br />Improvement amount is hereby increased <br />in the amount of $450,000 <br />PASSED, APPROVED and ADOPTED this 20th day of March, 2001. <br />ATTEST: <br />CAROLINA P. BARRERA <br />City Clerk <br />9"141kwak G 91 I L��I "� <br />