City Council

13. Proposition A Local Return Funds Exchange with City of Commerce\nRecommendation -\n1. Approve and adopt a Resolution approving a Fund Trade Agreement for\nthe exchange of Proposition A Local Return Funds with the City of\nCommerce.\n2. Approve and authorize the City Manager to execute the Fund Trade\nAgreement between the City of El Segundo and the City of Commerce to\nassign $740,992 of its Fiscal Year 2023-2024 Prop A Local Return\nfunding authority to Commerce, in exchange for $555,744 from the City\nof Commerce’s general fund.\n3. Appropriate $740,992 to account 112-400-5297-5204 (Prop A Operating\nSupplies).\n7\n4. Set revenue budget for $555,744 to account 001-300-0000-3909 (Misc.\nRevenues).\n5. Set Transfer Out budget for $555,744 to account 001-400-0000-9601\n(Transfer Out-General Fund).\n6. Set Transfer In budget for $555,744 to account 601-300-0000-0001\n(Transfer In-Equipment Replacement Fund).\n7. Alternatively, discuss and take other action related to this item.