Resolution 15450CITY OF ALAMEDA RESOLUTION NO. 15450
AMENDING THE FISCAL YEAR 2018-19 BUDGET FOR THE
COMMUNITY FACILITIES DISTRICT NO. 17-1 FUND BY INCREASING
ESTIMATED REVENUE BY $174,051 AND INCREASING THE
EXPENDITURE BUDGET BY $35,000
WHEREAS, on June 19, 2018, the City Council did adopt a Mid-Cycle Budget
representing the financial plan for conducting the affairs of the City of Alameda for the
Fiscal Year beginning July 1, 2018 and ending June 30, 2019; and
WHEREAS, on March 21, 2017, the City Council of the City of Alameda (the "City
Council") adopted Resolution No. 15249 (the "Resolution of Formation"), forming the City
of Alameda Community Facilities District No. 17-1 (Alameda Point Public Services
District) (the "District") pursuant to the City of Alameda Special Tax Financing
Improvement Code, constituting Section 3-70.1 et seq. of the Alameda Municipal Code
(the "Law"); and
WHEREAS, On October 2, 2018, the City Council adopted a Resolution of
Consideration to alter the definitions of "Developed Property" and of "Non-Residential
Property" in the Rate and Method of Apportionment ("RMA") to correct an unintended
error, which set a public hearing for October 16, 2018 regarding the proposed alteration;
and
WHERAS, on October 16, 2018, the City Council adopted a Resolution calling a
special election regarding alteration of the RMA of special taxes for CFD 17-1 ; and
WHEREAS, all costs related to the alteration proceedings are to be paid from funds
from the special tax levy in CFD 17-1 ; and
WHEREAS, in Fiscal Year 2018-19, CFD 17-1 estimated to collect special
assessment revenue in the amount of $174,051 and the Fund's anticipated annual
expenses to administer the CFD are estimated to be $35,000; and
WHEREAS, the City Council has considered the report and associated revenues
and expenses resulting from the alteration of the CFD; and
WHEREAS, the Council has considered the report and recommendations of the
City Manager on the budget amendments and has determined that the budget
amendments are both fair and appropriate; and
WHEREAS, this budget ensures that the City of Alameda has exercised prudent
judgment in its fiduciary responsibility as guardian of the public tax dollars.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Alameda
that a budget amendment to increase the Community Facilities District 17-1 Fund
estimated revenue by $174,051 and appropriations by $35,000 is approved.
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I, the undersigned, hereby certify that the foregoing Resolution was duly and .
regularly adopted and passed by the Council of the City of Alameda in a regular meeting
assembled on the 16th day of October, 2018, by the following vote to wit:
A YES: Council members Ezzy Ashcraft, Matarrese, Oddie, Vella and
Mayor Spencer-5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official
seal of said City this 17th day of October, 2018.
Approved as to form:
Lara Weisiger, City
City of Alameda