0693RESOLUTION NO. 693
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROLLING HILLS, CALIFORNIA, APPROVING AN AGREEMENT
BY AND BETWEEN THE CITY OF ROLLING HILLS AND THE
CITY OF HAWAIIAN GARDENS, CALIFORNIA, AUTHORIZING
AN EXCHANGE OF PROPOSITION "A" TRANSPORTATION
LOCAL RETURN FUNDS.
WHEREAS, The City of Rolling Hills has uncommitted Proposition "A" funds within
its reserve allocation in the amount of $175,000; and,
WHEREAS, the City of Hawaiian Gardens has various capital improvement
projects/programs eligible to be funded by Proposition "A" funds, but not sufficient funds to address
these projects/programs; and,
WHEREAS, both cities agree that this exchange of funds would provide a benefit to
both agencies; and
WHEREAS, both cities and the Los Angeles County Transportation Commission
agree that these projects/programs will be of benefit to the needs of local transportation services.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ROLLING HILLS, AS FOLLOWS:
Section 1. The City Council approves an Agreement for the exchange/acquisition
of General Funds from the City of Hawaiian Gardens. Said Agreement is hereto attached as .
Exhibit "A!', and is made a part hereof by reference. Exchange rate is hereby established at sixty-
two cents ($0.62) on the dollar.
Section 2. The Mayor or her/his representative is hereby authorized to affix her
signature to this Resolution, indicating its approval:
Section 3. The City Manager is hereby directed and authorized to execute any
necessary documents, including, but not limited to agreements, amendments, forms, applications,
etc., to follow through with the exchange of funds.
Section 4. The City Clerk, or his duly appointed Deputy, is directed to attest thereto.
PASSED, APPROVED, AND ADOPTED BY THE CITY COUNCIL OF THE
CITY OF ROLLING HILLS ON THIS 9TH DAY OF NOVEMBER, 1992.
YOR
ATTEST:
CRgb R. NEALIS, CITY CLERK
I HEREBY CERTIFY that the foregoing Resolution No. 693 was duly adopted by
the City Council of the City of Rolling Hills at a regular meeting thereof held on the 9th day of
November, 1992, by the following vote:
AYES: Councilmembers Leeuwenburgh, Pernell, Heinsheimer
Mayor Pro Tem Murdock and Mayor Swanson.
NOES: None.
ABSTAIN: None.
ABSENT: None.
4 1.16e,4
CR
,AIG R. NP -ALIS, CITY CLERK