Proposition A Fund Exchange Agreement with the City of Montebello. (700)
- Contract ID
- C377 🔗 permalink
- Meeting date
- 2026-01-13 · meeting page
- Agenda item
- 4
- Vendor
- City of Montebello
- Action
- Agreement/other
- Agreement no.
- 26-2519
- Amount
- $1,200,000 (ntebello to exchange $1,200,000)
- Procurement
- Not stated in staff report
- Staff recommendation
- 1. Approve the Fund Exchange Agreement between the City of Pico Rivera (City) and the City of Montebello to exchange $1,200,000 from Fiscal Year (FY) 2023-24 and $1,800,000 from FY 2024-25 of the City of Pico Rivera’s Proposition A Local Return funding with the City of Montebello, in exchange for $2,250,000 from the City of Montebello’s General Fund; 2. Authorize the City Manager to execute the Fund Exchange Agreement in a form approved by the City Attorney; 3. Approve an amendment for the FY 2025-26 Budget to appropriate $3,000,000 of available Proposition A Fund unassigned restricted fund balance for the City’s portion of the fund exchange with the City of Montebello; and 4. Approve an amendment for the FY 2025-26 Budget to increase General Fund revenues by $2,250,000 for the City of Montebello’s portion of the fund exchange.
- Outcome
- Approved
- Motion
- Motion by Councilmember/Commissioner Garcia, seconded by Mayor Pro Tem/Vice President Dr. Sanchez to approve Consent Calendar Item Nos. 1 through 9. Motion carries by the following roll call vote: 1-13-26.CityCouncilMinutes Page 4 of 6
- Roll call (minutes)
- AYES: Garcia, Lutz, Sanchez, Camacho NOES: None ABSENT: Lara
- Evidence
- documented verified (approved minutes, roll call)
- Watch
- no linked video
- Sources
- Meeting record · Source record · minutes packet p.7
Member positions
Owners and representatives
| Name | Role | As of | Evidence | Source |
|---|---|---|---|---|
| No records found. | ||||
Documented ties
No documented ties to council members recorded for this vendor.