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Agenda Item

3.6 21-0216 Subject: Emergency Reserve And American Rescue Plan Act Funds From: Council President Fortunato Bas And Vice Mayor Kaplan Recommendation: Adopt A Resolution (1) Directing The City Administrator In Consultation With The City Attorney To Explore, And Bring Back To Council, Options For Providing Additional Protections For The 7.5% General Purpose Fund ("GPF") Emergency Reserve, Including But Not Limited To The Creation Of A Separate Fund For The GPF Emergency Reserve; And (2) Clarifying That No Expenditure Of The American Rescue Plan Act ("ARPA") Funds, Which The City Expects To Receive In The Estimated Amount Of One Hundred Ninety-Two Million Eighty-Four Thousand One Hundred Five Dollars ($192,084,105), Shall Be Made Except For The Purpose And In The Manner Specified By The City Council Following A Public Process And Public Vote Pursuant To Charter Section 806; On The March 29, 2021 Special City Council Agenda On Non-Consent