HomeMy WebLinkAboutCity Council Resolution 312 RESOLUTION NO. 312
RESOLUTION OF THE CITY COUNCIL OF
_THE.CITY OF S.ARA_T..OGA C_REAT!N.G...LA~,,D
ACQUISITION. AND IM~_~_K._OVEME~_NT FUND,
WHEREAS, there presently is in the City's general fund, and being Fund
No. 21, well in excess of $277,000.00 of unappropriated surplus, which will
not be necessary to be used for the support of the Departr~ents of the City
of Saratoga for the current year or to pay any bonded or other indebtedness
of said City, and
WHEREAS, City is desirous of creating a special fund out of such un-
appropriated surplus for the purpose of acquisition and improvement of parks,
recreation areas, and other open space lands for public uses,
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF TIlE CITY
OF SARATOGA AS FOLLOWS:
Section 1.: There is hereby created a special fund of the City of
Saratoga, to be known as the "Land Acquisition and Im-
provement Fund" which shall hereafter be designated as Fund No. 99 of
this City.
_Section 2: The City Clerk- Administrator is hereby authorized
and directed to transfer the sum of $227,000.00 from
unappropriated surplus in the general fund reserve, and being Fund No. 21,
to the Land Acquisition and Improvement ~und, and being Fiend No. 99.
Section 3: There is hereby appropriated the sum of $6,000.00 from
the Land Acquisition and Improvement Fund for the pur-
pose of purchasing an option to acquire that certain 16 acres more or less
located on Big Basin Way, Saratoga, California, known as Hakone Gardens,
and there is hereby appropriated out of said special fund the sum of
$2,460.00 for the purpose of purchasing an option to acquire that certain
real property consisting of 4.1 acres more or less generally located at
4th Streets and Wildwood Way, Saratoga, California, kno~n as ~lildwood Park,
which option agreements are on file in the City Offices and reference to
which are hereby made for further particulars, and the City Treasurer is
directed to draw his warrants against said special fund and cause the
same to be delivered to VALLEY TITLE COMPANY OF SANTA CLARA COUNTY for
the purchase of said options.
S_ect. ion 4: The above set forth special fund does not constitute
a capital outlay fund within the terms and n~aning of
Article IV, Chapter 4, Part 1, Division 2 of Title 5 of the C~vernment
Code of the State of California.
-1-
section..~...: it is hereby declared that it is the policy of this City
that no Income or revenue of the City of Saratoga for any
fiscal year shall be added to the above set forth Land Acquisition and Im-
provement ~und, unless such income and revenue as may be added would be in
excess of all other indebtedness and liability of the City for the then cur-
rent fiscal year during which any such funds may be so added.
The above and foregoing Resolution was passed and adopted at a regular
meeting of the City Council of the City of Saratoga of the 16th day of
_February , 1966, by the following vote:
AYES: Councilmen Glennon, Drake, Hartman, Tyler, Burry
NOES: none
ATTEST:
CITY CLE~ / '