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File #: 20-0335    Version: 1 Name:
Type: City Resolution Status: Passed
File created: 4/22/2020 In control: *Rules & Legislation Committee
On agenda: 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
Attachments: 1. View Report, 2. View Legislation, 3. 88108 CMS

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