RESOLUTION NO. ___-23
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANT HILL
APPROVING MEASURE K FUND RESERVE AND APPROPRIATING ADDITIONAL
CAPITAL IMPROVEMENT PROJECTS
WHEREAS, on June 27, 2022, the City Council adopted the City’s Biennial Budget for the fiscal years (FY) July 1, 2022 through June 30, 2023 (“22/23”) and July 1, 2023 through June 30, 2024 (“23/24”) which included the Measure K funds; and WHEREAS, on July 11, 2022, the City Council adopted the FY 2022/2027 (“22/27”) Capital Improvement Plan and Expenditures for FY 22/23 and FY 23/24 which included Measure K projects and activities; and
WHEREAS, the audited Measure K fund has a fund balance of $10.2 million in FY 21/22, with $4.2 million restricted for debt proceeds for the library and $6.0 million that is unassigned; and
WHEREAS, the Budget Committee reviewed creating an assigned reserve and unfunded projects for consideration that aligned with the intended use of Measure K funds.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Pleasant Hill approves the Measure K reserve for $2,500,000.
BE IT FURTHER RESOLVED, that the City Council of the City of Pleasant Hill authorizes an appropriation and transfer of funds for the allocation of $1,905,000 for the following Measure K Projects to the Gas Tax Fund:
a) Pothole Repair - $100,000
b) Street Resurfacing Program Residential Zone 17 - $1,000,000 c) Oak Park Sidewalk Gap Closure - $805,000.
ADOPTED by the City Council of the City of Pleasant Hill at a regular meeting of the Council held on the 27th day of February, 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
TIMOTHY M. FLAHERTY, Mayor
ATTEST:
DANIELLE NAVARRO, City Clerk