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RESOLUTION NO. R-102-23 <br /> 1 <br /> 2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br /> AMENDING THE FISCAL YEAR 2023/2024 CAPITAL IMPROVEMENT <br /> 3 BUDGET <br /> 4 WHEREAS, the City of Colton ("City") is a municipal corporation duly organized and <br /> existing pursuant to the Constitution and laws of the State of California; and, <br /> 5 <br /> WHEREAS, the City intends to support the City's goal to improve the City's traffic safety <br /> 6 and infrastructure; and, <br /> 7 WHEREAS,the City of Colton needed funds to construct the Valley Blvd./La Cadena Dr. <br /> 8 Traffic Signal Modification Project; and, <br /> 9 WHEREAS, the City of Colton needs to allocate additional funding in the amount of <br /> $322,332 to complete the project and will be provided thru Local Traffic Impact Fee; and, <br /> 10 <br /> WHEREAS, a budget appropriation not listed in the Fiscal Year 2023/2024 budget is <br /> 11 required and must be approved by resolution of the City Council. <br /> 12 NOW,THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF COLTON <br /> 13 DOES HEREBY RESOLVE AS FOLLOWS: <br /> 14 Section 1 The above recitals are true and correct. <br /> 15 Section 2 The City Council authorizes the following amendment for the Fiscal Year 2023/2024 <br /> budget: <br /> 16 <br /> • Appropriate $322,332 from reserve balance in Local Traffic Impact Fund to account <br /> 17 number 249-2465-6150-3890-0000-000 for the South La Cadena Drive Street <br /> Improvement Project. <br /> 18 <br /> 19 PASSED, APPROVED AND ADOPTED THIS 5th DAY OF DECEMBER 2023. <br /> 20 <br /> 21 <br /> 22 J AVA <br /> Mayor <br /> 23 <br /> ATTEST: <br /> 24 <br /> 25 <br /> 26 ' <br /> 1/' <br /> ST PHANIE M. VARG <br /> 27 Deputy City Clerk <br /> 28 <br />