HomeMy WebLinkAboutReso 127-90 FosterCityFAU FundsRESOLUTION NO. 127-90
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING AN AGREEMENT FOR THE EXCHANGE OF CITY OF FOSTER CITY
FEDERAL AID URBAN FUNDS FOR CITY OF DUBLIN GENERAL FUNDS
WHEREAS, the City of Foster City has agreed with the City of
Dublin to exchange Foster City Federal Aid Urban (FAU) funds for City of
Dublin General Funds; and
WHEREAS, the agreed exchange rate is eighty cents ($.080) of
General Funds for every one dollar ($1.00) of FAU funds; and
WHEREAS, the City of Dublin plans to use these funds for the San
Ramon Road Phase IV project; and
WHEREAS, this exchange of funds will provide a greater amount of
Federal funds for necessary roadway improvements;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
of Dublin does hereby approve the Agreement between the City of Foster City
and the City of Dublin for the exchange of funds.
BE IT FURTHER RESOLVED that the Mayor shall execute this agreement
and that the City Clerk shall forward copies to the appropriate authorities.
PASSED, APPROVED, AND ADOPTED this 8th day of October, 1990.
AYES:
Councilmembers Hegarty, Jeffery, Vonheeder, and
Mayor Moffatt
NOES: None
ABSENT:
ayo
ATTEST:
Cit Cler