HomeMy WebLinkAbout2011-12-06; City Council; Resolution 2011-278Exhibit 2
1 RESOLUTION NO. 2011-278
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA, AUTHORIZING A
3 TRANSFER OF FUNDS FOR THE OPERATIONS OF THE
4 CROSSINGS MUNICIPAL GOLF COURSE
5 WHEREAS, the City Council of the City of Carlsbad, California has reviewed the
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proposed final Budget for The Crossings municipal golf course operations for the
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calendar year 2012 and approved the expenditures as set forth in Exhibit 3.8
9 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Carlsbad, California, as follows:
11 1. That the above recitations are true and correct
1 7 2. That the City Council authorizes the transfer of funds necessary to
subsidize the operations of The Crossings municipal golf course for calendar year 2012
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forward, without the necessity for repayment, since the accumulated advances with
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interest from the General Fund to date have no realistic possibility of repayment in the
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foreseeable future.
18 3. That the Finance Director is authorized to transfer $944,592 from the General
19 Fund balance to subsidize The Crossings.
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1 PASSED, APPROVED AND ADOPTED at a Joint Special Meeting of the
2 Carlsbad City Council and Public Financing Authority, held on the 6th day of December
T 2011, by the following vote to wit:
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AYES: Council Members Hall, Kulchin, Blackburn, Douglas, Packard.
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NOES: None.
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ABSENT: None.8
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10 MATT HALL, Mayor
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ATTEST:
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14 v ^RRAINE'M. WOOD, city cierk
15 (SEAL)
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