HomeMy WebLinkAboutResolution No. 3927 RESOLUTION NO. 3927
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
AGREEING TO MAKE UP FROM LOCAL FUNDS ANY SHORTFALL IN
THE AB 120 FAREBOX RECOVERY REQUIREMENT AND ANY COST
OVERRUN FOR THE ELDERLY AND HANDICAPPED TRANSIT SERVICE
FOR THE 1980 -1 AND 1981-2 FISCAL YEARS.
WHEREAS, AB 120 requires that all grant recipients maintain a minimum
farebox recovery rate of 10% of its operating costs in order to qualify for
Article 4.5 TDA Funding; and
WHEREAS, local contributions can be made on per ridership basis to
satisfy the 10% requirement; and
WHEREAS, all Article 4.5 Funding will be programmed without an available
surplus to cover budget cost overruns for the 1980 -1 and 1981 -2 Fiscal Years,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES RESOLVE AS
FOLLOWS:
SECTION 1. To agree to the use of local funds to the extent necessary
to satisfy the 10% minimum farebox recovery requirement and to meet any cost
overrun for the Article 4.5 TDA Elderly and Handicapped Transit Program.
SECTION 2. The City Clerk shall certify to the adoption of this
resolution.
APPROVED AND ADOPTED this 10th day of March , 1981.
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Theodore H. Jackman, Mayor
ATTEST:
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City Clerk
I HEREBY CERTIFY that the foregoing resolution was duly adopted at a
regular meeting of the City Council of the City of Downey held on the 10th
day of March , 1981, by the following vote, to wit:
AYES: 5 Council Members: Swearingen, Mackaig, Quinn, Cormack, Jackman
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
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City Clerk