R-002-13 - I.10 Pepper Avenue CIP adopted 1.14.13

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1 2 3 4 5 6 7 8 9 10 11 121 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 NJ RESOLUTION NO. R-02-13 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON TO AMEND THE FISCAL YEAR 2012/2013 CAPITAL IMPROVEMENT BUDGET TO APPROPRIATE $246,400 FOR THE INTERSTATE 10/PEPPER AVENUE INTERCHANGE PROJECT WHEREAS, the City Council of the City of Colton desires to improve the safety of the bridges and traffic circulation within City jurisdiction; and WHEREAS, the City of Colton intends to improve the interchange on Interstate 10 (I-10) at Pepper Avenue (PROJECT) in the City of Colton; and WHEREAS, the PROJECT received federal grants through the County of San Bernardino to be administered by San Bernardino Associated Governments (SANBAG), thus providing an opportunity to complete PROJECT at a relatively low cost to the City; and WHEREAS, the City of Colton is willing to participate in funding the PROJECT pursuant to the provisions of the Development Mitigation Nexus Study prepared by SANBAG, and approved by the SANBAG Board of Directors on November 2, 2011; and WHEREAS, a budget appropriation for approved activities, not listed in the 2012-2013 Fiscal Year budget is required and must be approved by resolution of the City Council. NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF COLTON DOES HEREBY RESOLVE AS FOLLOWS: Section 1 The Recital preceding in this Resolution are true and correct and are incorporated into this Resolution by reference. Section 2 The City Council authorizes an appropriation of $246,400 in the Traffic Impact Fee Fund (Fund 249), as well as a loan from the Measure I Fund (Fund 218) to the Traffic Impact Fees Fund in the amount of $61,400. Necessary adjustments to the Fiscal Year 2012-2013 budget are as follows: • Increase expenditure account 249-1000-6900-2350 in the amount of $246,400. • Decrease revenue account 450-5993-218 in the amount of $61,400.