RESOLUTION NO. 2023-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HESPERIA, CALIFORNIA, AMENDING THE 2022-23 CITY OF HESPERIA BUDGET FOR THE EARLY RETIREMENT OF THE 2018 SAN BERNARDINO COUNTY TRANSPORTATION AUTHORITY (SBCTA) LOAN RELATED TO THE CITY’S SHARE OF THE RANCHERO ROAD INTERCHANGE CONSTRUCTION PROJECT WHEREAS, the City Council of the City of Hesperia approved a Cooperative Agreement with the San Bernardino County Transportation Authority (SBCTA) for the construction of an interchange at Ranchero Road on April 3, 2012; and WHEREAS, the City Council of the City of Hesperia approved the related Term Loan Agreement with SBCTA (2018 SBCTA Loan) for the City’s share of the construction costs of the Ranchero Road Interchange on May 1, 2018; and WHEREAS, the City Council of the City of Hesperia adopted the Fiscal Year 2022-23 Budget on June 7, 2022.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HESPERIA AS FOLLOWS:
Section 1. That the recitals above are true and correct and adopted as findings.
Section 2. That the City Council of the City of Hesperia desires to retire the 2018 SBCTA Loan nearly five years prior to the stated maturity.
Section 3. That the City Council of the City of Hesperia approves an amendment to the FY 2022-23 Budget by making appropriations for:
Development Impact Fee – Street Fund 300 Principal $5,469,800 DIF 2018 – Streets Fund 306 Principal and Interest 4,075,573 Total $9,545,373
Section 5. That the City Clerk shall certify to the passage and adoption of this resolution and enter it into the book of original resolutions.
ADOPTED AND APPROVED this 16th day of May 2023.
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Brigit Bennington, Mayor
ATTEST:
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Erin Baum, Assistant City Clerk
Resolution No. HWD 2014-18