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Committee approves $1.29 million interest appropriation for California Academy of Sciences and Rec & Park
Summary
The Audit & Oversight Committee approved appropriating $1,289,141 in bond interest for capital and construction needs at the California Academy of Sciences and the Recreation and Park Department for FY 2007–08; the Budget Analyst recommended the appropriation and no public comment was offered.
The Audit & Oversight Committee on May 5 approved an ordinance appropriating $1,289,141 of interest earned on bond monies for capital and construction work at the California Academy of Sciences and the Recreation and Park Department for fiscal year 2007–08.
Sevin Campbell of the Budget Analyst’s Office told the committee the funds are interest earnings on bonds earmarked for the Academy and recommended approval. Brooke Meburatu, identified as a Department of Public Works project manager, were present to answer technical questions about the project.
President Aaron Peskin complimented the new Academy facility and said the appropriation represents “a great gift to the city” despite its cost. With no members of the public offering comment, Peskin adopted the appropriation "without objection." The committee did not take a roll-call vote on the ordinance at the hearing.
The appropriation covers interest earned on bond proceeds and is intended to be used for capital and construction needs related to the California Academy of Sciences as described in the ordinance. The item will be transmitted according to committee procedures to the full Board for final processing as required by ordinance rules.
