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CC Resolution No. 08-052 Prop 1B Funds RESOLUTION NO. 08-052 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO APPROVING THE CITY'S PLAN TO USE PROPOSITION 1B FUNDS AVAILABLE IN 2007-08, AND AUTHORIZING THE CITY MANAGER TO APPLY FOR, APPROPRIATE, AND EXPEND THOSE FUNDS, AND TAKE RELATED ACTIONS WHEREAS, In November 2006, California voters approved Proposition 1B, the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006, (Prop 1 B) to provide $19.925 billion in bond funds for a variety of transportation priorities. These priorities include $2 billion for cities and counties to fund the maintenance and improvement of local transportation facilities; and WHEREAS, the 2007 Budget Act and Chapter 181, Statutes of 2007 (SB 88), appropriate a total of $950 million of these Prop 1 B funds in 2007-08. And of this amount, Chapter 314, Statutes of 2007 (AB 196), specifies that $550 million be allocated to cities and $400 million be allocated to counties; and WHEREAS, in order to receive these funds, a county or city must first approve and submit a plan for use of the amount of funds available in 2007-08 to the Department of Finance (Finance). NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Cupertino hereby approves the City's plan to use Proposition 1 B funds available in 2007-08, attached hereto as Exhibit A and made a part hereof, and authorizes the City Manager to apply for, appropriate, and expend those funds, and take related actions. BE IT FURTHER RESOLVED that the City Manager, or the City Manager's designee, is authorized, on behalf of the City of Cupertino, to execute and submit all documents, payment requests, and related actions, as well as to accept and appropriate any additional funds received for the completion of the project. PASSED AND ADOPTED at a regular meeting of the City Council of the City of Cupertino this 15th day of Apri12008 by the following vote: Vote Members of the Citv Council AYES: Sandoval, Mahoney, Santoro, Wang, Wong NOES: None ABSENT: None ABSTAIN: None ATTEST: APPROVED: ~ ~ I', ~ ~ ~ V ~ City Clerk Mayor, City of upertino Resolution No. 08-052 2 Exhibit A Total Prop 1B Funding to be Used for Local IVlaintenance Category $887,243.00