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4884-4311-2847 v1 1
RESOLUTION NO._____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RIALTO, CALIFORNIA, AMENDING THE 2023 -2024
FISCAL YEAR BUDGET FOR THE PURPOSE OF
APPROPRIATING ADDITIONAL FUNDS FOR THE POLICE
STATION PROJECT
WHEREAS, the City Council (the “City Council”) of the City of Rialto (the “City”) desires to finance the acquisition, construction and improvement of new police department facilities in the City (the “Police Station Project”); and WHEREAS, it has been proposed that the Rial to Public Financing Authority (the “Authority”) assist the City in providing funds to finance the Police Station Project by entering into an Indenture, dated as of December 1, 2023 (the “Indenture”), by and between the Authority and U.S. Bank Trust Company , National Association, as trustee and providing for the issuance and delivery of the Authority’s Lease Revenue Bonds, 2023 Series A (Police Station Project) (the “Bonds”); and
WHEREAS, the City Council desires to appropriate additional funds held in the C ity’s reserves to be used for the Police Station Project to minimize the principal amount of the Bonds necessary to finance the Police Station Project.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RIALTO HEREBY RESOLVES AS FOLLOWS:
Section 1: Recitals. The foregoing recitals are true and correct, and incorporated herein by this reference.
Section 2: Authorization of Appropriation for New Police Station. Authorize an expense appropriation of General Fund Reserves in the amount of $20,000,000 fo r transfer to the Capital Improvement Fund account number 33006150-53001 for the purposes of construction of a new police station. The City Manager may adjust account numbers to reflect the intention of this transfer.
Section 3: Transfer Authorization. The City Manager, the Interim City Manager, or the Finance Director, and their individual designees, are each hereby authorized to cause to be transferred for deposit in accordance with the Indenture, the amounts appropriated under this 1 2
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4884-4311-2847 v1 2
Resolution together with the remaining balance of moneys previously appropriated and transferred from the General Fund to the Capital Improvement Fund for the purposes of construction of a new police station under Resolution No. 7840.
Section 4: Effective Date . This Resolution shall take effect immediately upon its adoption by the City Council.
Section 5: Certification. The City Clerk of the City of Rialto shall certify to the passage, approval and adoption of this resolution, and the City Clerk of the City of Rialto shall cause this
Resolution and the City Clerk’s certification to be entered in the File of Resolutions of the City of Rialto City Council.
PASSED, APPROVED AND ADOPTED this ____ day of ______, 2023.
____________________________________
DEBORAH ROBERTSON, Mayor
ATTEST:
____________________________________
BARBARA A. McGEE, City Clerk
APPROVED AS TO FORM:
______________________________
ERIC S. VAIL, City Attorney
Burke, Williams & Sorensen, LLP
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4884-4311-2847 v1 3
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss
CITY OF RIALTO )
I, Barbara A. McGee, City Clerk of the City of Rialto, do hereby certify that the foregoing Resolution No._____ was duly passed and adopted at a regular meeting of the City Council of the City of Rialto held on the _____ day of _______, 2022.
Upon motion of Councilmember ____________, seconded by Councilmember _______________, the foregoing Resolution No. _______ was duly passed and adopted.
Vote on the motion:
AYES:
NOES:
ABSENT:
IN WITNESS WHEREOF, I have hereunto set my hand and the Official Seal of the City of Rialto this _____ day of _________________, 2023.
______________________________________
BARBARA A. McGEE, City Clerk