1 02001081.DOCX A26-02432 RES: TRANSFER HARBOR REVENUE FUNDS FY 2026 [6/29/2026] TIDELAND OPERATING FUND [WRB/arh] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 OFFICE OF THE CITY ATTORNEY DAWN MCINTOSH, City Attorney411 W. Ocean Boulevard, 9th FloorLong Beach, CA 90802 RESOLUTION NO. HD- A RESOLUTION OF THE BOARD OF HARBOR COMMISSIONERS OF THE CITY OF LONG BEACH APPROVING UPON CERTAIN FINDINGS, THE TRANSFER OF FIVE PERCENT OF GROSS OPERATING REVENUES FOR FISCAL YEAR 2026 FROM THE HARBOR REVENUE FUND TO THE TIDELAND OPERATING FUND PURSUANT TO THE PROVISIONS OF SECTION 1209(c)(4) OF THE CHARTER OF THE CITY OF LONG BEACH WHEREAS, the City Council of the City of Long Beach has requested transfer from the Harbor Revenue Fund to the Tideland Operating Fund pursuant to Section 1209(c)(4) of the Charter of the City of Long Beach, the form of which request is attached hereto and incorporated herein as Exhibit A; and WHEREAS, the Board of Harbor Commissioners of the City of Long Beach approve the transfer. NOW, THEREFORE, the Board resolves as follows: Section 1. The Board hereby finds and determines that: A. The requested transfer of five percent of gross operatingrevenues (currently estimated to be $28,726,936) for the fiscal year commencing October 1, 2025 and ending September 30, 2026, will not be needed for Harbor Department operations, including, without limitation, operating expenses and capital projects, and such transfer will not result in insufficient funds to pay the principal and interest as they fall due, or otherwise impair the ability to meet covenants of general obligation or revenue bonds issued for harbor purposes. Sec. 2. Based upon such findings, the proposed transfer is approved, in 26-3374
2 02001081.DOCX A26-02432 RES: TRANSFER HARBOR REVENUE FUNDS FY 2026 [6/29/2026] TIDELAND OPERATING FUND [WRB/arh] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 OFFICE OF THE CITY ATTORNEY DAWN MCINTOSH, City Attorney411 W. Ocean Boulevard, 9th FloorLong Beach, CA 90802 the amount of $28,726,936 and shall be made by journal entry in four equal quarterly payments on or about October 1, 2026, January 1, 2027, April 1, 2027 and July 1, 2027 with a reconciliation, as necessary, to reflect the final audited gross operating revenues period ending September 30, 2026. Sec. 3. This resolution shall take effect immediately upon its adoption by the Board of Harbor Commissioners, and the Secretary of the Board shall certify to the vote adopting this resolution and shall cause a certified copy of this resolution to be filed forthwith with the City Clerk. The City Clerk shall post the resolution in three conspicuous places in the City of Long Beach. I hereby certify that the foregoing resolution was adopted by the Board of Harbor Commissioners of the City of Long Beach at its meeting of ____________, 2026by the following vote: Ayes: Commissioners: ___________________________________ ___________________________________ Noes: Commissioners: ___________________________________ Absent: Commissioners: ___________________________________ Not Voting: Commissioners: ___________________________________ ___________________________________ Secretary July 13Weissman, Neal, ColonnaLowenthal, Olvera 1 ANS:jj A26-01797 (05/19/26) 01983960.DOCX
12345678910111213141516171819202122232425262728OFFICE OF THE CITY ATTORNEY DAWN MCINTOSH, City Attorney 411 W. Ocean Boulevard, 9th Floor Long Beach, CA 90802 RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LONG BEACH REQUESTING THE BOARD OF HARBOR COMMISSIONERS OF THE CITY OF LONG BEACH TO APPROVE A TRANSFER FROM THE HARBOR FUND GROUP TO THE TIDELANDS OPERATIONS FUND GROUP PURSUANT TO THE PROVISIONS OF CITY CHARTER SECTION 1209(C)(4). WHEREAS, City Charter Section 1209(c)(4) authorizes the transfer of monies deposited to the credit of the Harbor Fund Group to the Tidelands Operations Fund Group under certain conditions; and WHEREAS, the City Council finds and determines that a transfer of funds from the Harbor Fund Group to the Tidelands Operations Fund Group is required to meet the lawful obligations of the Tidelands Operations Fund Group; and WHEREAS, City Charter Section 1209(c)(4) provides for the transfer of a maximum of five percent (5%) of the gross operating revenues of the Harbor Department; NOW, THEREFORE, the City Council of the City of Long Beach resolves as follows: Section 1. A transfer of funds from the Harbor Fund Group to the Tidelands Operations Fund Group is required to meet the lawful obligations of the Tidelands Operations Fund Group. Section 2. That five percent (5%) of the gross operating revenues of the Harbor Department be transferred to the Tidelands Operations Fund Group. Section 3. The transfer is being requested quarterly with a reconciliation, as necessary, to reflect the actual operating revenues reported in the Harbor Department’s Fiscal Year 2026 audited financial statements.
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