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ATTY/RESO.0106/CC RESO APPROVING PEG BUDGET AMENDMENT & APPROPRIATION <br />REV: 11-10-16 JS <br />Page 1 of 1 <br />RESOLUTION NO. ______ <br /> <br />RESOLUTION OF THE CITY COUNCIL OF REDWOOD CITY <br />APPROVING A BUDGET AMENDMENT TO RECOGNIZE <br />REVENUES OF $350,000 FROM PEG FEES RECEIVED AND <br />APPROPRIATE THE $350,000 TO THE COUNCIL CHAMBER <br />AUDIO VISUAL REPLACEMENT CIP <br /> <br /> WHEREAS, the City receives Public, Educational, and Government (PEG) <br />fees of 2% of total sales within its jurisdiction; and <br />WHEREAS, PEG fees are restricted in use for capital purchases in support <br />of broadcasting public meetings; and <br />WHEREAS, the Council Chamber Audio Visual system is the primary <br />means by which the City broadcasts Council and other Redwood City Committee <br />meetings; and <br />WHEREAS, the current Audio Visual system is aging, limited in function, <br />and difficult to support; and <br /> WHEREAS, Information Technology has requested that the City Council <br />approve an increase in revenue and associated appropriation in the amount of <br />Three Hundred Fifty Thousand Dollars ($350,000) for the purposes of replacing <br />the Council Chamber Audio/Visual system. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF REDWOOD CITY, AS FOLLOWS: <br />The sum of Three Hundred Fifty Thousand Dollars ($350,000) from Special <br />Deposits Fund for PEG fees already collected shall be recognized as revenue and <br />appropriated to the Capital Outlay Fund Budget for the Council Chamber Audio/ <br />Visual System. <br />* * * <br />6.3.A. - Page 4