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ORDINANCE NO. P- 296 ORDINANCE OF THE BOARD OF PORT COMMISSIONERS OF THE CITY OF REDWOOD CITY AMENDING SECTIONS 2 AND 10 OF ORDINANCE P-295 APPROPRIATING ANTICIPATED REVENUES AND OTHER GENERAL FUNDS OF THE PORT OF REDWOOD CITY FOR THE FISCAL YEAR JULY 1, 2024 — JUNE 30, 2025 BE IT ORDAINED BY THE BOARD OF PORT COMMISSIONERS OF THE CITY OF REDWOOD CITY, AS FOLLOWS: WHEREAS, an annual budget containing an estimate of the revenues and expenses of the Port of Redwood City for the Fiscal Year beginning July 1, 2024, and ending June 30, 2025, has been presented to and approved by the Board of Port Commissioners of the Port of Redwood City (the "Board"); and WHEREAS, the Board, by Ordinance No. P-295 (the "2024 — 2025 Budget Ordinance"), adopted on May 22, 2024, appropriated and authorized the expenditure of said anticipated revenues in accordance with the above-mentioned budget; and. WHEREAS, the Board desires and intends to amend certain appropriations and expenditures set forth in Sections 2 and 10 of the 2024 — 2025 Budget Ordinance. NOW THEREFORE; BE IT ORDAINED BY THE PORT OF REDWOOD CITY BOARD OF PORT COMMISSIONERS OF THE CITY OF REDWOOD CITY, AS FOLLOWS: SECTION 1. GENERAL. The estimated revenues of the Port of Redwood City for Fiscal Year July 1, 2024 — June 30, 2025, and all unexpended and unencumbered monies remaining in the Port funds at the close of Fiscal Year July 1, 2023 — June 30, 2024, are allocated and appropriated as set forth in the 2024 — 2025 Budget Ordinance, and as amended by this Ordinance. SECTION 2. OPERATING EXPENSES - IS AMENDED AS FOLLOWS: The additional sum of Two Million dollars ($2,000,000) is hereby appropriated from General Funds for the payment of operating expenses in connection with the operation of the Port of Redwood City, during the Fiscal Year July 1, 2024 - June 30, 2025, and this expenditure of said sum for the purpose stated below is authorized. Atty/Port Ord P-296/ introduced: 03 26 25 adopted: 4.23.25