Resolution No. 90551
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RESOLUTION NO. 9055
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
VERNON AMENDING RESOLUTION NO. 6102 REGARDING
TRANSFER OF UNRESTRICTED FUND INTEREST EARNINGS
INTO THE GENERAL FUND
WHEREAS, on June 2, 1992, the City Council of the City of
Vernon adopted Resolution No. 6102 authorizing the City Treasurer to
transfer quarterly to the General Fund of the City all interest earned
on the principal amounts of money in all other funds of the City except
for funds associated with the Redevelopment Agency of the City of
Vernon, provided the use of the money in said funds is not otherwise
restricted by law; and
WHEREAS, Resolution No. 6102 also directed the City Treasurer
to review the status of each special fund of the City and determine if
the moneys in such fund are restricted in order to carry out the policy
of the resolution; and
WHEREAS, the City Treasurer has reviewed the Light and Power
Department Fund, Account No. 055, which is used,for the collection of
revenues and the payment of expenditures for said department, and
recommended that said fund be restricted; and
WHEREAS, the City Council of the City of Vernon desires to
amend Resolution No. 6102 to restrict the transfer of funds from the
Light and Power Department Fund to the General Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VERNON AS FOLLOWS:
SECTION 1: The City Council of the City of Vernon hereby
finds and determines that the recitals contained hereinabove are true
and correct.
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SECTION 2: The City Council of the City of Vernon hereby
amends Section 2 of Resolution No. 6102 to read as follows:
Section 2: The City Council of the City of
Vernon hereby authorizes the City Treasurer to
transfer quarterly to the General Fund of the
City, all interest earned on the principal
amounts of money in all other funds of the
City except for funds associated with the
Redevelopment Agency of the City of Vernon and
the Light and Power Department Fund, provided
the use of the money in said funds is not
otherwise restricted by law.
SECTION 3: The provisions of Resolution No. 6102 not
consistent with or in conflict with this resolution are hereby
repealed; in all other respects, Resolution No. 6102 shall remain in
full force and effect.
SECTION 4: The Acting City Clerk of the City of Vernon
shall certify to the passage of this resolution, and thereupon and
thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 24th day of May, 2006.
ATTEST:
BRUCE V. MIUANHORST, JR.
Acting City Clerk
- 2 -
EON ISC.�MABMRG, Mayor
1 STATE OF CALIFORNIA )
2 ) ss
COUNTY OF LOS ANGELES )
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4 I, BRUCE V. MALKENHORST, JR., Acting City Clerk of the City of
5 Vernon, do hereby certify that the foregoing Resolution, being
6 Resolution No. 9055, was duly adopted by the City Council of the City
7 of Vernon at a regular meeting of the City Council duly held on
8 Wednesday, May 24, 2006, and thereafter was duly signed by the Mayor of
9 the City of Vernon.
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BRUC . MALKENHORST, JR.
12 Acting City Clerk
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(SEAL)
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SUPPORTING
DOCUMENT
S
CITY COUNCIL
LEONIS C. MALBURG
Mayor
THOMAS A. YBARRA
Mayor Pro-Tem
WM. 'BILL" DAVIS
Councilman
H. "LARRY" GONZALES
Councilman
W. MICHAEL McCORMICK
Councilman
May 25, 2006
4305 Santa Fe Avenue, Vernon, California 90058
telephone (323) 583-8811
A. Craig Underwood
Bond Logistix LLC
777 South Figueroa Street, Suite 3200
Los Angeles, CA 90017
Re: Resolution Nos. 9054, 9055, and 9056
Dear Mr. Underwood:
SOL BENUDIZ
Police Chief
MARK C. WHITWORTH
Acting Fire Chief
LEWIS J. POZZEBON
Director of Environmental Health
S. KEVIN WILSON
Director of Community Services
SHARON L. DUCKWORTH
Acting City Treasurer
Transmitted herewith are two certified copies of each of the
above -referenced resolutions, which were approved by the City
Council on May 24, 2006.
If you have any questions, please call Mr. Eric Fresch, at (323)
583-8811 ext. 225.
ry truly yours,
Nellx Gi
Deputy City Clerk
NG/ke
cc: City Attorney
Resolution No. 9054
Resolution No. 9055
Resolution No. 9056
lExctumdo 111bugmal
CERTIFICATE
STATE OF CALIFORNIA )
) ss
COUNTY OF LOS ANGELES)
I, Manuela Giron, Deputy City Clerk of the City of Vernon,
County of Los Angeles, State of California, hereby certify that
the attached is a full and complete copy of:
RESOLUTION NO. 9055 - A Resolution of the City Council of
the City of Vernon Amending Resolution No. 6102 Regarding
Transfer of Unrestricted Fund Interest Earnings into the
General Fund
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official Seal of the City of Vernon, County of Los Angeles,
State.of California, on this 25th day of May 2006.
SEAL:
Manuela Giron
Deputy City Clerk