HomeMy WebLinkAbout2011-06-28; Public Financing Authority; Resolution 561 RESOLUTION NO. 56
2 A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE CARLSBAD PUBLIC FINANCING AUTHORITY,
3 AUTHORIZING THE APPRORIATION OF FUNDS FROM
4 THE GOLF COURSE CAPITAL RESERVE FUND FOR
IMPROVEMENTS TO HOLE 18
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6 WHEREAS, staff commissioned a third party operational assessment of The
7 Crossings at Carlsbad golf course prepared by Mark Tansey, Sunrise Golf, dated
8 November 16, 2010 ("report"), and
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WHEREAS, staff presented the findings of the report to the Board of Directors at
10 the City Council's November 16, 2010 workshop, and
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WHEREAS, per Board's direction, staff is returning with recommendations for
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improvements to the golf course intended to help to increase revenues, and
WHEREAS, staff recommends the reconstruction of the 18th green to improve
j 5 payability of the course,
16 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
17 Carlsbad Public Financing Authority hereby resolve as follows:
1 8 1. That the above recitations are true and correct.
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2. That funds are available in the Golf Course Capital Reserve fund to cover
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certain improvements to The Crossings at Carlsbad.
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3. That the Board of Directors of the Carlsbad Public Financing Authority hereby
23 appropriate eighty thousand ($80,000) from the Golf Course Capital Reserve
24 to rebuild the 18th green.
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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 28th day of June
3 2011, by the following vote to wit:
4 AYES: Council Members Hall, Kulchin, Blackburn, Douglas
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NOES: None.
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ABSENT: Council Member Packard.
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9 MAtf (HALL, Mayor
10 ATTEST:
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13 \t>RRA'lNE M. WOOD, City Clerk
14 (SEAL)
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