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06/25/2012 ORIGINAL RESOLUTION NO. SA 12-08 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AS THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY ADOPTING THE BUDGET OF THE SUCCESSOR AGENCY FOR FISCAL YEAR JULY 1, 2012 - JUNE 30, 2013 AND PROVIDING FOR THE APPROPRIATION AND EXPENDITURE OF ALL SUMS SET FORTH IN SAID BUDGET WHEREAS, in accordance with the Charter of the City of Redwood City, the City Manager has submitted to the City Council of the City of Redwood City a proposed annual budget for Fiscal Year July 1, 2012 - June 30, 2013; and WHEREAS, pursuant to the Charter, after duly noticed public hearing, the Council has approved the budget and it has been certified as the Budget of the City for Fiscal Year 2012-2013; and WHEREAS, it is the intention of the City Council of the City of Redwood City in its capacity as the Successor Agency to the dissolved Redwood City Redevelopment Agency to adopt the certified copy of the Budget presently on file in the office of the City Clerk as it pertains to the Successor Agency. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AS THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY AS FOLLOWS: SECTION 1. Adoption of Budqet. The Budget for the Fiscal Year July 1, 2012 - June 30, 2013, approved by the City Council and certified by the City Clerk and City Manager, presently on file in the office of the City Clerk, is adopted for the Successor Agency. The Budget pertaining to the Successor Agency is contained within the Budget document entitled "Recommended Budget FY 2012-2014." SECTION 2. Appropriations. The amounts designated within the pertinent sections of the Budget document are appropriated as identified in page 20 of the Budget document. SECTION 3. Provision for Interim Expenditures after June 30, 2013; Reappropriations. The City Manager and Finance Director are authorized and directed to charge expenses pertaining to the Successor Agency and incurred prior to July 1, 2013 to the appropriations of Fiscal Year 2012-2013. The City Manager and Finance Director are further authorized to pay all contractual obligations pertaining to the Successor Agency, including but not limited to payroll, contracts, and other expenses, incurred between July 1, 2013 and the date that the appropriations are adopted for Fiscal Year 2013-2014; to this end the City Council, on behalf of the Successor Agency, appropriates 1/12 of the amounts that were appropriated for ATTY/RES0.2258/SA BUDGET FINAL ADOPTION 12-13 RESO.SA 12-08 REV:06-15-12 VR MUFF#454 Page 1 of 2