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SECTION 10. CAPITAL IMPROVEMENTS. The sum of Two Million One <br />Hundred Fifty Thousand dollars ($2,150,000) is hereby appropriated from Port Reserve <br />Fund and Grant Fund in connection with Capital Improvements Program for the Port of <br />Redwood City during the Fiscal Year July 1, 2020 - June 30, 2021, and this expenditure <br />of said sum for the purpose stated is authorized. <br />SECTION 11. RESERVE FUNDING. The sum remaining in the general Port <br />funds as of June 30, 2020, less a prudent amount to be retained in the general Port <br />funds, is hereby appropriated from General Fund to Reserve Fund in connection with <br />contingent expenditure for the operation, administration, and/or capital improvement <br />program of the Port of Redwood City during the Fiscal Year July 1, 2020 - June 30, <br />2021, and the expenditure of said sum and for the purpose stated is authorized. <br />SECTION 12. TRANSFER, ADDITIONAL APPROPRIATIONS, CANCELLATIONS. <br />The Board of Port Commissioners may consent to the transfer of sums from an <br />appropriated operating expense line item to any other appropriated operating expense <br />line item within each Section. Transfers in excess of $25,000 per operating expense <br />line item shall be by Resolution. <br />The Board of Port Commissioners may, by Resolution, transfer appropriated <br />sums from one Section to another, authorize additional appropriations, and cancel <br />previously authorized appropriations. <br />Ord/Introduced 05-27-2020 <br />Ord/2ndReading 06-10-2020 <br />5 of 6 <br />P-280 <br />