CDC - 2008-18 - Appropriatte $4,400,000 for the Purchase of the Rosemead Inn0
RESOLUTION NO. 2008- 18
A RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION
TO APPROPRIATE $4,400,000 FOR THE PURCHASE OF THE ROSEMEAD INN
WHEREAS, on December 11, 2007 in a closed session, the Rosemead Community
Development Commissioners approved the purchase of the Rosemead Inn for $4,400,000;
and
WHEREAS, funds to pay for the Rosemead Inn are available in unreserved,
undesignated fund balance; and
WHEREAS, the funds must be appropriated before they are expended.
NOW THEREFORE, $4,400,000 is appropriated in the Special Projects
organization, Property Acquisition object of the Capital Projects Fund (4215-8470-Fund45)
for the purchase of the Rosemead Inn.
The additional appropriation is made a part of the approved FY2007-08 budget as though
it were a part of the initial approved budget fully set forth and the Executive Director is
authorized and empowered to expend such sum for the purpose of such account, but with
no expenditure by any office or department for any item within an account shall exceed the
amount budgeted therefore without prior written approval of the Executive Director.
PASSED, APPROVED and ADOPTED this 10th day of June 2008.
ATTEST: ,
I~ AL
GLORIA MOLLEDA, CO SSION SECRETARY
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0
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD
1, Gloria Molleda, Commission Secretary of the City of Rosemead, do hereby certify that
the foregoing Resolution No. 2008-18 being:
A RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT
COMMISSION TO APPROPRIATE $4,400,000 FOR THE PURCHASE OF
ROSEMEAD INN.
was duly and regularly approved and adopted by the Rosemead Community
Development Commission on the 10th of June, 2008, by the following vote to wit:
Yes: Low, Nunez, Tran,
No: Clark, Taylor
Abstain: None
Absent: None
Gloria Molleda
Commission Secretary