City Council

2.L. ASSIGNMENT AGREEMENT BETWEEN THE CITY OF WALNUT\nAND THE CITY OF WEST HOLLYWOOD FOR THE EXCHANGE\nOF PROPOSITION A LOCAL RETURN FUNDS [C. SCHROEDER,\nL. ISENBERG, F. GOMEZ]:\nThe City Council will consider a General Fund trade agreement for\nProposition A Local Return Funds with the City of Walnut.\nRECOMMENDATIONS: 1) Approve an Assignment Agreement for a\nProposition A local return fund exchange with the City of Walnut for\n$210,000 in City of West Hollywood General Fund dollars in\nexchange for $300,000 in City of Walnut Proposition A Funds and\nauthorize the City Manager to execute documents incident to the\nAgreement; and 2) Authorize the Director of Finance and\nTechnology Services to allocate $210,000 from reserves committed\nfor Proposition A purchases in the General Fund to the Expenditure\nfor Traded Funds account (100-1-03-31-531016).\nSTAFF REPORT