CDC - 2008-33 - Appropriation of $3,855,000 for the Purchase of 3520 Ivar• 0
RESOLUTION NO. CDC2008- 33
A RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION
TO APPROPRIATE $3,855,000 FOR THE PURCHASE OF 3520 IVAR AVENUE,
ROSEMEAD CALIFORNIA 91770
WHEREAS, in a closed session, the Rosemead Community Development
Commissioners approved the purchase of real property known as 3520 Ivar Avenue,
Rosemead, California, 91770 (the "Property") for $3,855,000; and
WHEREAS, funds to pay for the Property are available in unreserved, undesignated
fund balance and from proceeds of a loan from the City; and
WHEREAS, the funds must be appropriated before they are expended.
NOW THEREFORE, $3,855,000 is appropriated in the Special Projects
Organization, Property Acquisition Object of the Capital Projects Fund (4215-8470-Fund45)
for the purchase of the Property.
The additional appropriation is made a part of the approved FY2008-09 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 28th day of October 2008.
Chairman
ATTEST: "
APPROVED AS TO FORM:
`Commission Secretary
CITY A ' RN Y
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD )
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I, Gloria Molleda, Commission Secretary of the City of Rosemead, do hereby certify that
the foregoing Resolution No: 2008-33:
A RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT
COMMISSION TO APPROPRIATE $3,855,000 FOR THE PURCHASE OF
3520 WAR AVENUE, ROSEMEAD CALIFORNIA 91770
was duly and regularly approved by the Community Development Commission on the
28`n of October of 2008, by the following vote to wit:
Yes: Low, Nunez, Tran
No: Clark, Taylor
Abstain: None
Absent: None
Gloria Molleda
Commission Secretary
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