Resolution No.
PARKING AUTHORITY OF THE
CITY OF STOCKTON
RESOLUTION APPROVING BUDGET FOR THE 2022-23 FISCAL YEAR In December 2013, the City Council, by Resolution 2013-12-17-1209, established the Parking Authority as a separate entity, to protect the general fund and improve the quality and efficiency of parking operations, consistent with terms negotiated with NPFG in the bankruptcy process; and The Parking Authority is comprised of the garages, other downtown parking structures and lots, and downtown parking meter and parking enforcement revenues; and These revenues are pledged to the modified schedule of payments on the Parking Structure Lease Back (Parking Bonds debt service), and the City’s General Fund will have no liability for the modified payment schedule; and The budget for parking operation revenues and expenses is budgeted in the Parking Authority fund 630; and now, therefore, BE IT RESOLVED BY THE BOARD OF THE PARKING AUTHORITY OF THE CITY OF STOCKTON, AS FOLLOWS:
The Board hereby approves the Fiscal Year 2022-23 Annual Budget for the Parking Authority fund 630, attached hereto as Exhibit 1 and incorporated by this reference.
The Executive Director is hereby authorized to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.
PASSED, APPROVED, and ADOPTED June 21, 2022 .
ATTEST:
KEVIN J. LINCOLN II, Chairperson
of the Parking Authority Board
ELIZA R. GARZA, Secretary
of the Parking Authority Board