1986-050-Affirming Its Intention To Construct Project 326-Los Gatos Bicycle Path And Committing An Estimated $132,000 In Town Monies To Supplement Transportation Development Act Funds For Construction PurposesRESOLUTION NO. 1986 -50
RESOLUTION OF THE T014N COUNCIL OF THE TOWN OF LOS GATOS
AFFIRMING ITS INTENTION TO CONSTRUCT PROJECT 326 -
LOS GATOS CREEK BICYCLE PATH (OLD TOWN TO ROBERTS ROAD)
IN FISCAL YEAR 1986 -87; AND COMMITTING AN ESTIMATED $132,000
IN TOWN MONIES TO SUPPLEMENT TRANSPORTATION DEVELOPMENT ACT
(TDA) FUNDS FOR CONSTRUCTION PURPOSES
WHEREAS, it is the intention of the Town Council of the Town of Los Gatos to
construct Project 326 - Los Gatos Creek Bicycle Path (Old Town to Roberts Road) in
the Town of Los Gatos, and
WHEREAS, the Town of Los Gatos has applied for Transportation Development Act,
Article 3 Funds for construction of Project 326, and
WHEREAS, the Town of Los Gatos has accrued the sum of $63,000 in TDA Funds for
construction of Project 326 to date, and
WHEREAS, the Metropolitan Transportation Commission (MTC) requires assurance
that the Town of Los Gatos will finance the remainder of Project 326 in the
estimated amount of $132,000 in Fiscal Year 1986 -87; now, therefore, be it
RESOLVED that the Town Council of the Town of Los Gatos intends to commit Town
funds from the General Fund Appropriated Reserve (GFAR) in the estimated amount of
$132,000 to supplement Transportation Development Act (TDA) Funds totaling $63,000
which has been reserved for Project 326; and be it further
RESOLVED, that a copy of this resolution be transmitted to the Metropolitan
Transportation Commission in conjunction with all necessary supporting documentation
to satisfy current fiscal year MTC application requirements.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town
of Los Gatos held on 21 day of April 1986 by the
following vote:
AYES: COUNCIL MEMBERS Joanne Benjamin, Thomas J. Ferrito,
Brent N. Ventura, Mayor Terrence J. Daily
NOES: COUNCIL MEMBERS None
ABSTAIN: COUNCIL MEMBERS None
ABSENT: COUNCIL MEMBERS Eric D. Carlson
SIGNED:
ATTEST:
—CLERK OF THE ?LOS