HomeMy WebLinkAboutReso 077-85 Madera FAU $ RESOLUTION NO. 77- 85
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING A JOINT POWERS AGREEMENT FOR THE EXCHANGE OF
CITY OF MADERA FEDERAL AID URBAN FUNDS
FOR DUBLIN GENERAL FUNDS
WHEREAS, vhe City of Madera has accepted a bid submitted
by the City of Dublin to exchange Federal Aid Urban (FAU) funds
for General Funds; and
WHEREAS, the bid offered an exchange rate of seventy-
five cents ($0.75) of general funds for every one dollar ($1.00)
of FAU funds; and
WHEREAS, Dublin plans to use these FAU funds for the
Phase 2 project on San Ramon Road, an FAU rouve; and
WHEREAS, this exchange of funds will provide a greater
amounv of Federal Funds available for necessary roadway
improvement s.
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of Dublin does hereby approve the Joint Powers Agreement
between the City of Madera and the City of Dublin for 5he exchange
of FAU funds.
BE IT FURTHER RESOLVED that the Mayor shall execute the
Agreement and the City Clerk shall forward copies vo the
appropriate authorities.
PASSED, APPROVED AND ADOPTED this 12th day of August,
1985.
AYES: Councilmembers Hegarty, Jeffery, Moffatt,
Vonheeder and Mayor Snyder
NOES: None