HomeMy WebLinkAboutReso 130-85 FosterCityFAUFunds RESOLUTION NO. 130-85
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING A JOINT POWERS AGREEMENT FOR THE EXCHANGE OF
CITY OF FOSTER CITY FEDERAL AID URBAN FUNDS
FOR DUBLIN GENERAL FUNDS
WHEREAS, the City of Foster City has agreed with the
City of Dublin to their exchange of Federal Aid Urban (FAU) funds
for City of Dublin General Funds; and
WHEREAS, the agreed exchange rate is 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 II project on San Ramon Road and on the Amador Valley Blvd.
median reconstruction landscaping; and
WHEREAS, this exchange of funds will provide a greater
amount of Federal Funds available for necessary roadway
improvements;
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 Foster City and the City of Dublin for the
exchange of FAU funds.
BE IT FURTHER RESOLVED that the Mayor shall execute the
Agreement and the City Clerk shall forward copies to the
appropriate authorities.
PASSED, APPROVED, AND ADOPTED this 95h day of
December , 1985.
AYES: Councilmembers Hegarty, Jeffery, Moffatt, Vonheeder and
Mayor Snyder
NOES: None
ABSENT: None /.~~~ Mayor f /
ATTEST:
Ci~ Clerk