67RESOLUTION NO.
A RESOLUTION AMENDING RESOLUTION NO. 4470 TO
EXTEND THE APPLICATION DATE FOR THE RSI PROGRAM
TO NOVEMBER 30, 2007.
The City Council of the city of E1 Segundo resolves as follows:
SECTION 1: The City Council finds and declares as follows:
A. The findings set forth in Section 1 of Resolution No. 4470, adopted on
June 7, 2006, are incorporated by reference as if fully set forth except as
specifically provided below;
B. The City has currently expended $210,133.58 of the Settlement Amount in
accordance with the RSI Grant Program. There is a $74,053.42 remaining
from the Settlement Amount;
C. Based upon a review of applicable records, the City believes that all but
seven (7) property owners were provided a pro rata amount of the
Settlement Amount. Based upon this estimate, it appears that the
remaining funds from the Settlement Amount are sufficient to reimburse
these property owners;
D. For the reasons set forth above, and as reflected in the entire record, the
City Council finds it is in the public interest to adopt this Resolution.
SECTION 2: Authorization. Subject to the terms and conditions set forth in this
Resolution and the RSI Grant Program, the City Manager or RSI Manager may distribute
remaining funds from the Settlement Amount to Homeowners. The time in which
Homeowners must submit an application to the RSI Program Manager is extended to
November 30, 2007.
SECTION 3: Supplemental to Resolution No. 4470. This Resolution is adopted as a
supplement to Resolution No. 4470, adopted on June 7, 2006, which established the RSI
Grant Program. Except as modified by this Resolution, all terms, conditions, and
authorizations set forth in Resolution No. 4470 remain the same.
SECTION 4: This Resolution will become effective immediately upon adoption.
PASSED AND ADOPTED this _ day of 2007
Kelly McDowell, Mayor
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