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<br />6.38 <br />Page 3 <br /> <br />RESOLUTION NO. <br /> <br />APPROVE BY RESOLUTION THE APPROPRIATION OF $161,175 OF <br />COMCAST REVENUE INTO TWO CAPITAL IMPROVEMENT PROJECTS <br />(CIP); $75,000 FOR J-NET (FJBER NETWORK) EQUJPMENT, AND $86,175 <br />FOR PUBLIC, EDUCATION, GOVERNMENT (PEG) EQUIPMENT <br /> <br />WHEREAS, the franchise agreement between the City and Comeast, dated January 6, <br /> <br />2006, includes a provision for Comcast to construct a fiber network among specified City <br /> <br />facilities; and <br /> <br />WHEREAS, the franchise provides that any unused fiber network construction credits <br /> <br />may be remitted to the City; and <br /> <br />WHEREAS. the City may use those remitted funds only for I-Net capital expenditures or <br /> <br />for PEG capital expenditures; and <br /> <br />WHEREAS, Comcast has remitted a check to the City in the amount of $161,175 as <br /> <br />liquidation of the remaining fiber network construction credit balance; and <br /> <br />WHEREAS, of the remitted sum, $75,000 is needed for the purchase of equipment for <br /> <br />the I-Net fiber networks, as well as for future replacement and expansion of such equipment; <br /> <br />and <br /> <br />WHEREAS, the remaining balance of $86,175 should be allocated to the exishng PEG <br /> <br />CfP account, for use in the Council chambers audiolvisuaJ and broadcast systems retrofit <br /> <br />projects. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY AS FOLLOWS: <br /> <br />1. Approve by resolution an amendment to the budget for fiscal year 2007-2008, <br />appropriate the sum of $161,175 to be anoeated into two Capital Improvement <br />projects (a) $75,000 for I-Net (Fiber Network) and (b) $86,175 for public <br />education government equipment <br /> <br />* * * <br /> <br />ATTYfRESOIRESO.1801 <br />031908 <br />