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07771 1 L RESOLUTION NO. 777 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROLLING HILLS, CALIFORNIA, ASSIGNING TO THE CITY OF ROLLING HILLS ESTATES, CALIFORNIA, ITS AVAILABLE PROPOSITION C FUNDS. WHEREAS, the City of Rolling Hills has a fund balance..$55,257 in Proposition C Local Return Funds; and WHEREAS, the City of Rolling Hills Estates is planning public street improvements qualifying for funding with Proposition C Local Return Funds; and WHEREAS, the City of Rolling Hills has a general interest in street improvement projects in the City of Rolling Hills Estates. NOW, THEREFORE, the City Council of the City of Rolling Hills, California, does hereby resolve as follows: Section 1. The City of Rolling Hills hereby assign to the City of Rolling Hills Estates the sum of $55,257 of the available City of Rolling Hills Proposition C Funds to assist in the cost of such street improvement projects. Section 2. The City Clerk shall certify to the adoption of this Resolution and shall forward certified copies to the Los Angeles County Transportation Commission and the City of Rolling Hills Estates. 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. APPROVED AND ADOPTED this 26th day of Fe Godfrey Pernell, D Mayor ATTEST: Marilyn L. K"6rn Deputy City Clerk STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) CITY OF ROLLING HILLS ) SS The foregoing Resolution No. 777 entitled: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROLLING HILLS, CALIFORNIA, ASSIGNING TO THE CITY OF ROLLING HILLS ESTATES, CALIFORNIA, ITS AVAILABLE PROPOSITION C FUNDS. was approved and adopted at a regular meeting of the City Council on February 26, 1996, by the following roll call vote: AYES: Councilnmembers Heinsheimer, Hill, Lay and Mayor Pernell. NOES: None. ABSENT: Mayor Pro Vert Murdock. ABSTAIN: none. Resolution No. 777 -1- Marilyn L. Kern Deputy City Clerk