City Council

4.\nProposition A Fund Exchange Agreement with the City of Montebello. (700)\nRecommendation:\n1. Approve the Fund Exchange Agreement between the City of Pico Rivera\n(City) and the City of Montebello to exchange $1,200,000 from Fiscal Year\n1-13-2026 Agenda City Council\n(FY) 2023-24 and $1,800,000 from FY 2024-25 of the City of Pico Rivera’s\nProposition A Local Return funding with the City of Montebello, in exchange\nfor $2,250,000 from the City of Montebello’s General Fund;\n2. Authorize the City Manager to execute the Fund Exchange Agreement in a\nform approved by the City Attorney;\n3. Approve an amendment for the FY 2025-26 Budget to appropriate\n$3,000,000 of available Proposition A Fund unassigned restricted fund\nbalance for the City’s portion of the fund exchange with the City of\nMontebello; and\n4. Approve an amendment for the FY 2025-26 Budget to increase General\nFund revenues by $2,250,000 for the City of Montebello’s portion of the fund\nexchange.