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Revenue Bonds Series 2012 during the Fiscal Year July 1, 2022 — June 30, 2023, and the <br />expenditure of said sum for such purpose is hereby authorized. <br />SECTION 8. REVENUE BONDS SERIES 2012 -PRINCIPAL. The sum of Four <br />Hundred Ninety Seven Thousand and Five Hundred Eighty Five dollars ($497,585) is hereby <br />appropriated from general Port funds for the payment of principal of the Revenue Bonds Series <br />2012 during the Fiscal Year July 1, 2022 - June 30, 2023, and the expenditure of said sum for <br />such purpose is hereby authorized. <br />SECTION 9. REVENUE BONDS SERIES 2012 -RESERVES. The sum of Seven <br />Hundred Forty Two Thousand and Two Hundred Ninety Four dollars ($742,294) theretofore <br />appropriated, transferred and carried over in the Parity Bond Reserve Fund account held by the <br />Trustee, is hereby re -appropriated and maintained pursuant to Resolution No. P-2178 during <br />the Fiscal Year July 1, 2022 - June 30, 2023. <br />SECTION 10. CAPITAL IMPROVEMENTS. The sum of Two Million Three Hundred <br />Fifty Thousand dollars ($2,350,000) is hereby appropriated from Port Reserve Fund and Grant <br />Fund in connection with Capital Improvements Program for the Port of Redwood City during the <br />Fiscal Year July 1, 2022 - June 30, 2023, and this expenditure of said sum for the purpose <br />stated is authorized. <br />SECTION 11. RESERVE FUNDING. The sum remaining in the general Port funds as <br />of June 30, 2022, less a prudent amount to be retained in the general Port funds, is hereby <br />appropriated from General Fund to Reserve Fund in connection with contingent expenditure for <br />the operation, administration, and/or capital improvement program of the Port of Redwood City <br />during the Fiscal Year July 1, 2022 - June 30, 2023, and the expenditure of said sum and for <br />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 appropriated <br />operating expense line item to any other appropriated operating expense line item within each <br />Port/rs <br />Ordinance N P- 290 4 of 5 <br />