HomeMy WebLinkAbout2011-103 - Concerning the Measure M2 Expenditure ReportRESOLUTION NO. 2011 -103
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH CONCERNING THE MEASURE M2
EXPENDITURE REPORT FOR THE CITY OF NEWPORT
BEACH
WHEREAS, Local Transportation Authority Ordinance No. 3 requires local
jurisdictions to adopt an annual Expenditure Report to account for Net Revenues,
developer /traffic impact fees and funds expended by local jurisdiction which satisfy the
Maintenance of Effort requirements; and
WHEREAS, the Expenditure Report shall include all Net Revenue fund balances,
interest earned and expenditures identified by type and program or project; and
WHEREAS, the Expenditure Report must be adopted and submitted to the
Orange County Transportation Authority each year within six months of the end of the
local jurisdiction's fiscal year to be eligible to receive Net Revenues as part of Measure
M2.
NOW, THEREFORE, BE IT RESOLVED that the City of Newport Beach, does
hereby inform OCTA that:
a) The M2 Expenditure Report is in conformance with the M2 Expenditure
Report Template provided in the Renewed Measure M Eligibility Guidelines and
accounts for Net Revenues including interest earned, expenditures during the
fiscal year and balances at the end of fiscal year.
b) The M2 Expenditure Report is hereby adopted for the City of Newport
Beach.
ADOPTED this 22nd day of November 2011.
Mayor
ATTEST:
• i O J x
City Clerk r
CALI FOP
STATE OF CALIFORNIA }
COUNTY OF ORANGE
CITY OF NEWPORT BEACH }
I, Leilani I. Brown, City Clerk of the City of Newport Beach, California, do hereby
certify that the whole number of members of the City Council is seven; that the foregoing resolution,
being Resolution No. 2011 -103 was duly and regularly introduced before and adopted by the City
Council of said City at a regular meeting of said Council, duly and regularly held on the 22nd day of
November, 2011, and that the same was so passed and adopted by the following vote, to wit:
Ayes: Hill, Rosansky, Gardner, Selich, Curry, Daigle, Mayor Henn
Noes: None
Absent: None
Abstain: None
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
official seal of said City this 23rd day of November, 2011.
4 Clerk
Newport Beach, California
(Seal)