2015-061 - Establish Reserve Fund for the Almond Grove Street Rehabilitation ProjectRESOLUTION 2015 -061
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
ESTABLISHING A RESREVE OF $12.2 MILLION FOR THE ALMOND GROVE
STREET REHABILIATION PROJECT
WHEREAS, the Town Council has identified funding sources for the Almond Grove
Street Rehabilitation; and
WHEREAS, funds totaling approximately $12.2 million have been identified in the
Almond Grove Funding Plan and Funding Schedule; and
WHEREAS, the Town Council wishes to establish a designated reserve for the Almond
Grove Street Rehabilitation project.
NOW, THEREFORE, BE IT RESOLVED, that the Town Council hereby authorizes
establishment of a designated Reserve for the Almond Grove Street Rehabilitation Project in the
initial amount of approximately $12.2 million.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of
Los Gatos, California, held on the third day of November, 2015 by the following vote:
COUNCIL MEMBERS:
AYES: Steve Leonardis, Rob Rennie, Marico Sayoe, Barbara Spector
NAYS: Mayor Marcia Jensen
ABSENT:
SIGNED:
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
CLERK ADMINISTRATOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA