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HomeMy WebLinkAboutReso - CC - 051-2003RESOLUTION NO. 51-2003 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME APPROVING BUDGET AMENDMENTS TO THE WATER AND SEWER CAPITAL IMPROVEMENT BUDGETS FOR THE CITY OF BURLINGAME FISCAL YEAR ENDING JUNE 30, 2003 RESOLVED by the CITY COUNCIL of the CITY OF BURLINGAME that: WHEREAS, the City adopted its capital improvement budget in May 2002, which included the improvement programs for the City water and sewer systems; and WHEREAS, in February 2003, the Burlingame Financing Authority issued bonds to finance improvements to the City water and sewer systems; and WHEREAS, because of the favorable market for those bonds, the proceeds from the bonds were more than anticipated and budgeted; and WHEREAS, these proceeds should be put to prompt use in the capital improvement program for the water and sewer systems, NOW, THEREFORE, IS ORDERED AS FOLLOWS: 1. The capital improvement budgets for the water and sewer enterprises for fiscal year 2002-2003 are amended as shown in Exhibit A. I, DORIS MORTENSEN, Deputy City Clerk of the City of Burlingame, do hereby certify that the foregoing resolutions were introduced at a regular meeting of the City Council held on the qday of May, 2003, and was adopted thereafter by the following vote: AYES: COUNCILMEMBERS: BAYLOCK, COFFEY, GALLIGAN, JAMEY, O'MAHONY NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE D u City Clerk