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11 /28/2016 <br /> RESOLUTION NO. 15538 <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 /> 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 <br /> support 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 AudioNisual system . <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE <br /> CITY OF REDWOOD CITY, AS FOLLOWS : <br /> The sum of Three Hundred Fifty Thousand Dollars ($350 , 000) from <br /> Special Deposits Fund for PEG fees already collected shall be recognized as <br /> revenue and appropriated to the Capital Outlay Fund Budget for the Council <br /> Chamber Audio/ Visual System . <br /> * * <br /> ATTY/RES0.0106/CC RESO APPROVING PEG BUDGET AMENDMENT & APPROPRIATION RESO. NO. 15538 <br /> REV: 11-10-16 JS MUFF NO. 501 <br /> Page 1of1 <br />