HomeMy WebLinkAboutCC Res 3458 1985-02-25
RESOLUTION NUMBER ~~€f
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEAL BEACH, CALIFORNIA, AUTHORIZING A TEMPORARY
CASH TRANSFER FROM THE CASH BASIS FUND TO THE
GENERAL FUND.
I
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS, the Seal Beach City Code permits cash transfers between City
funds provided such transfers are repaid by fiscal year end;
and
WHEREAS, General Fund expenditures for the first seven months of fiscal
1984/85 exceed revenues for the same period by $645,000
causing a deficit in aforesaid Fund on January 31, 1985; and
WHEREAS, the City Council deems it to be in the best interest of the
City of Seal Beach that an adequate operating cash balance
exist in the General Fund.
NOW, THEREFORE BE IT RESOLVED that the sum of $1,000,000 be transferred
effective January 31, 19B5 to the General Fund from the Cash Basis Fund
to be repaid by June 30, 1985.
PASSED, APPROVED and ADOPTED by the Cay. Counci 1 of ~,City of Seal Beach
at a meeting thereof held on the &'5~ day of ~.,..~985 by
the following vote: p )
AYES:
Councilmemb
I
NOES: Councilmembers
ABSENT: Councilmembers
~:~'H 4-4" Le
yor
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STATE OF CALIFORNIA)
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
I
ATTEST:
Q~1h( r:-
I, Joanne M. Yeo, City Clerk of the City of Seal Beach, California, do
hereby certify tha~~e~OregOing resolution is the original copy of
Resolution Number ~ on file in the office of the City Clerk,
passed, approved and adopted by the City counsi~f the Ci~l Beach
at a regular meeting thereof held on the eft:)... day of M&f-:J'
1985.
~,...,J),[ {J
Clerk