City of Oakland - File #: 20-0335

• File #: 20-0335
• Version: 1
• Type: City Resolution
• Status: Passed
• File created: 4/22/2020
• In control: *Rules & Legislation Committee
• Final action: 5/12/2020
• Title: Subject: Suspend Requirements And Use Of Reserve Funds In Consolidated Fiscal Policy From: Finance Department Recommendation: Adopt A Resolution: 1. Suspending Section 1, Part C Of The City Of Oakland Consolidated Fiscal Policy (Ordinance No. 13487 C.M.S.), Which Requires A Percentage Of The City’s Excess Real Estate Transfer Tax To Be Allocated To The Vital Services Stabilization Fund And Used To Fund Debt Retirement And Unfunded Long-Term Obligations, For Fiscal Years 2018-19, 2019-20, And 2020-21; And 2. Authorizing The Use Of Vital Services Stabilization Reserve Funds For Fiscal Year 2020-21 Pursuant To Section 2, Part B Of The City Of Oakland Consolidated Fiscal Policy

Date	Ver.	Action By	Action	Result
5/12/2020	1	Special Concurrent Meeting of the Oakland Redevelopment Successor Agency/City Council	Adopted

Title

Subject:                     Suspend Requirements And Use Of Reserve Funds In Consolidated Fiscal Policy

From:                                           Finance Department

Recommendation: Adopt A Resolution: 1. Suspending Section 1, Part C Of The City Of Oakland Consolidated Fiscal Policy (Ordinance No. 13487 C.M.S.), Which Requires A Percentage Of The City’s Excess Real Estate Transfer Tax To Be Allocated To The Vital Services Stabilization Fund And Used To Fund Debt Retirement And Unfunded Long-Term Obligations, For Fiscal Years 2018-19, 2019-20, And 2020-21; And 2. Authorizing The Use Of Vital Services Stabilization Reserve Funds For Fiscal Year 2020-21 Pursuant To Section 2, Part B Of The City Of Oakland Consolidated Fiscal Policy