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<br />03/24/2008 <br /> <br />ORIGINAL <br /> <br />RESOLUTION NO. 14852 <br /> <br />APPROVE BY RESOLUTION THE APPROPRIATION OF $161,175 OF <br />COMCAST REVENUE INTO TWO CAPITAL IMPROVEMENT PROJECTS <br />(CIP); $75,000 FOR I-NET (FIBER NETWORK) EQUIPMENT, AND $86,175 <br />FOR PUBLIC, EDUCATION, GOVERNMENT (PEG) EQUIPMENT <br /> <br />WHEREAS, the franchise agreement between the City and Comcast, 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 existing PEG <br /> <br />CIP account, for use in the Council chambers audio/visual and broadcast systems retrofit <br /> <br />projects. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCil OF THE CITY OF <br /> <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 allocated into two Capital Improvement <br /> <br />A TTY IRESO/RESO .180 1 <br />031908 <br /> <br />14852 <br />MUFF # 501 <br />