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DES:yc:10/16/80 <br />ORIGINAL <br />--------- <br />O R D I N A N C E N N 0. 1833 DEC 8 1980 <br />ORDINANCE APPROPRIATING, TRANSFERRING AND DISBURSING <br />REMAINING BALANCE ON DEPOSIT IN THE MARINA REVENUE FUND, <br />TO WIT: $152,325.08, FOR THE PURPOSES HEREIN STATED; <br />AND REPEALING SECTIONS 2.37 AND 2.38 OF THE REDWOOD CITY <br />CODE RELATING TO THE MARINA CONSTRUCTION FUND AND THE <br />MARINA REVENUE FUND, RESPECTIVELY <br />THE COUNCIL OF REDWOOD CITY DOES ORDAIN AS FOLLOWS: <br />SECTION 1. The remaining balance on deposit in the Marina <br />Revenue Fund, to wit: $152,325.08, is hereby appropriated, trans- <br />ferred and disbursed as follows: <br />(a) $58,465.00 to the appropriation for resources held in <br />reserve of the City of Redwood City; and <br />(b) $93,860.08 to the Port of Redwood City, to be used for <br />general Port and public purposes as the Board of Port <br />Commissioners shall determine in their discretion. <br />SECTION 2. Sections 2.37 and 2.38 of the Code of the City of <br />Redwood City relating to the establishment and maintenance of the <br />Marina Construction Fund and the Marina Revenue Fund, respectively, <br />are, and the same shall be, hereby repealed, and the funds thereby <br />established are hereby abolished. <br />SECTION 3. This ordinance shall be effective 30 days after <br />its adoption. <br />1833, <br />