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Ord 2452
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Ord 2452
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Last modified
10/11/2019 2:50:32 PM
Creation date
10/11/2019 2:50:31 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Ordinance
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
8/27/2018
Description
ORDINANCE OF THE CITY OF REDWOOD CITY ADDING SECTIONS 2.41.13 THROUGH 2.41.15 TO CHAPTER 2, ARTICLE IV, TO THE CITY OF REDWOOD CITY MUNICIPAL CODE TO ESTABLISH: (1) A FIDUCIARY FUND FOR THE RECORDING AND HANDLING OF ACTIVITIES OF THE FUND KNOWN AS THE SECTION 115 TRUST ACCOUNT FUND; (2) A SPECIAL REVENUE FUND FOR THE PURPOSE OF RECORDING AND HANDLING OF ACTIVITIES OF THE FUND KNOWN AS THE OTHER RESTRICTED DONATIONS AND GRANTS FUND; AND (3) A CAPITAL PROJECTS FUND FOR THE PURPOSE OF RECORDING AND HANDLING OF ACTIVITIES OF THE FUND KNOWN AS THE PEG FEES FUND.
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8/27/2018 <br />(a) Annual evaluation of the performance of the investments of the <br />Trust; <br />(b) Analysis of the City's year-end budget position and overall financial <br />outlook; and <br />(c) Approval by the City Council. <br />Section 2.41.14. OTHER RESTRICTED DONATIONS AND GRANTS <br />FUND: A special revenue fund to be known as the "OTHER RESTRICTED <br />DONATIONS AND GRANTS FUND" is hereby established. Donations or <br />other revenues received from businesses, organizations, or individuals for <br />specific programs or for other purposes shall be deposited into this fund. <br />The monies in this fund shall be expended solely in a manner that is <br />consistent with the intention of the donor or the grantor of such monies. <br />Section 2.41.15. PEG FEES FUND: A capital projects fund to be known as <br />the "PEG FEES FUND" is hereby established. Monies collected from <br />cable operators in the City for the purpose of funding the costs of capital <br />expenditures or operational equipment of PEG channel facilities (e.g., <br />local access television channels) shall be deposited into said fund. The <br />monies in this fund shall be expended solely for the payment of costs <br />described above. <br />Section 3. This ordinance is not a project subject to the California <br />Environmental Quality Act ("CEQA") as defined in CEQA section 15378(b)(5) <br />because it is an administrative activity that has no potential for resulting in either <br />a direct or a reasonably foreseeable indirect physical change in the environment. <br />Section 4. The City Clerk shall publish this Ordinance in accordance with <br />applicable law. <br />Section 5. This Ordinance shall go into effect thirty (30) days after the <br />date of its passage and adoption. <br />Page 3 of 3 <br />ATTY/ORD.472/RC ESTABLISHING FIDUCIARY, SPECIAL REVENUE, AND CAPITAL PROJECTS FUNDS <br />ORDINANCE NO. 2452 <br />REV: 07-12-18 DZ MUFF NO. 305 <br />
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