HomeMy WebLinkAboutCity Council Resolution 02-054RESOLUTION NO. 02- 054
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
AMENDING THE 2002-2003 BUDGET AND THE 5-YEAR CAPITAL
IMPROVEMENT PROJECT (CIP) FOR AN APPROPRIATION OF $4.5
MILLION DOLLARS FOR THE PURCHASE OF REAL PROPERTY AND
ALLOCATION OF FUNDS FOR THE PROPERTY LOCATED AT
19848 PROSPECT AVENUE (APN: 386-26-070 & 386-26-071)
WHEREAS, The Sazatoga City Council desired to acquire property to allow for
the expansion of the quality and quantity of our service offerings to the community; and
WHEREAS, Grace Methodist Church, located at 19848 Prospect Avenue,
became available for purchase and the City of Saratoga submitted a bid for the property;
and
WHEREAS, Grace Methodist Church's congregation voted to approve the sale of the
property to the City in the amount of $4.5 million dollars; and
NOW, THEREFORE, to adjust the City of Sazatoga's Fiscal Yeaz 2002-2003
budget for the appropriation of $4.5 for this purchase according to the following entries:
Debit Credit
Fund Transfers: Decrease Increase
001 General Fund 3,500,000
352 5-Year Infrastructure CIP - I-Iillside Reserve 1,000,000
353 5-Year Facility CIP -Prospect Ave Property 4,500,000
Property Acauisifion:
353 5-Year Facility CII' -Capital (buildinp~land) 4,500,000
The above and forging resolution was passed and adopted at a regular meeting of the
Sazatoga City Council held on the 17u` day of July 2002 by the following vote:
AYES: Councilmembers Stan Bogosian, John Mehaffey, Ann Waltonsmith,
Vice Mayor Evan Baker, Mayor Nick Streit
NOES: None
ABSTAIN: None
ABSENT: None
Nick Streit, Mayor