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Home My WebLink About2214 \' " ORDINANCE NO. 2214 AN ORDINANCE OF THE CITY COUNCIL OF ARCADIA, CALIFORNIA, CALLING A MUNICIPAL BOND ELECTION FOR THE PURPOSE OF SUBMITTING TO THE ELECTORS OF THE CITY A MEASURE PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE CITY FOR THE ACQUISITION, CONSTRUCTION, INSTALLATION AND IMPROVEMENT OF A GRADE SEPARATION FOR SANTA ANITA AVENUE; DECLARING THE ESTIMATED COST OF THE MUNICIPAL IMPROVEMENTS, THE AMOUNT OF THE PRINCIPAL OF THE INDEBTEDNESS TO BE INCURRED THEREFOR, AND THE MAXIMUM RATE OF INTEREST TO BE PAID THEREON; MAKING PROVISION FOR THE LEVY AND COLLECTION OF TAXES; FIXING THE DATE OF THE ELECTION AS APRIL 11, 2006 AND THE MANNER OF HOLDING THE SAME; AND PROVIDING FOR NOTICE THEREOF " WHEREAS, the City Council (the "City Council") of the City of Arcadia, California (the "City") has determined that, in order to improve public safety and traffic circulation and ease congestion on Santa Anita Avenue, which is a critical north/south arterial for the City, the City desires to cause the construction, installatiol!, acquisition and improvement of a grade separation at the intersection of Santa Anita Avenue and the proposed Foothill Extension of the Metropolitan Transit Authority Gold Line; and WHEREAS, the City Council has determined that the public interest and necessity demand the acquisition, construction, installation and improvement by the City of the certain public safety and traffic circulation related municipal improvements identified as follows: . Construct, instalI, acquire and improve a grade separation for Santa Anita Avenue at the intersection of Santa Anita Avenue and the Metropolitan Transportation Authority Gold Line extension to improve public safety and traffic circulation and ease congestion. WHEREAS, after study of alternatives, the City Council has determined that it is advisable to provide the funding for the acquisition and construction of the above-referenced improvements by means of general obligation bonds; and WHEREAS, Section I(b) of Article XIIIA of the California Constitution excepts from the general one percent (I %) of fulI cash value limitation those ad valorem taxes used to pay for debt service of any bonded indebtedness for the acquisition or improvement of real property approved on or after July 1, 1978, by two-thirds (2/3) of the votes cast by voters on the proposition; and WHEREAS, in the judgment of the City Council, it is advisable to calI an election on the question of whether bonds shalI be issued and sold and ad valorem taxes be levied for the object and purpose set forth below. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA DOES ORDAIN AS FOLLOWS: SECTION 1. Recitals. The above recitals are true and correct. SECTION 2. Ordering Election. A municipal bond election shalI be and is hereby ordered and wilI be held in the City on Tuesday, April 11, 2006 at which election shalI be submitted to the qualified electors of the City the question of incurring a bonded indebtedness of the City for the object and purpose set forth in the following proposition: 2 2214 PROPOSITION U: Santa Anita Avenue Public Safety/Traffic Improvement Measure. To improve public safety, vehicular and pedestrian traffic and ease congestion on Santa Anita Avenue, shall the City of Arcadia cause to be constructed or acquired a grade separation at the intersection of Santa Anita Avenue and the Metropolitan Transit Authority Gold Line Foothill Extension by issuing up to Eight Million ($8,000,000) Dollars of bonds, at legal rates, with citizens' oversight, independent financial audits, and no money for administrator's salaries? The estimated cost of the municipal improvements set forth in the measure is Thirteen Million ($13,000,000) Dollars including costs authorized pursuant to California Government Code Section 4361O.l(a) and (b), which may be paid from the proceeds of the sale of the bonds. SECTION 3. Submission to Oualified Electors. The City Council does hereby submit to the qualified electors of the City at the municipal bond election the measure set forth in Section 2 of this Ordinance, and designates and refers to the measure in the form of ballot hereinafter prescribed for use at the election. (a) The municipal bond election shall be held and conducted, and the votes thereof canvassed, and the returns thereof made, and the result thereof ascertained and dett:rmined, as herein provided; and in all particulars not prescribed by this Ordinance, the election shall be held as provided by law for the holding of municipal elections in the City. (b) All persons qualified to vote at municipal elections in the City upon the date of the election herein provided for shall be qualified to vote upon the measure submitted at the municipal bond election. 3 2214 , (c) The polls at the polling places hereinafter designated shall be opened at 7:00 o'clock A.M. of election day and shall be kept open continuously thereafter until 8:00 o'clock P.M. of election day, when the polls shall be closed (except as provided in Section 1440 I of the Elections Code), and the election officers shall thereupon proceed to canvass the ballots cast thereat. (d) The municipal bond election hereby called shall be consolidated with any other elections to be held in the City on April II, 2006, all as required by and pursuant to law; and the election precincts, polling places and officers of election within the City for the municipal bond election hereby called shall be set forth in the notice of election officers and polling places for the election to be published by the City Clerk of the City of Arcadia, as required by law, to which notice reference is hereby specifically made for a designation of the precincts, polling places and election officers of the municipal bond election hereby called. Only qualified voters of the City shall be permitted to vote at the municipal bond election. (e) On the ballots to be used at the municipal bond election, in addition to all other matters required by law to be printed thereon, shall appear the measure set forth in Section 2 hereof. (f) The City Council shall confirm the canvass of the municipal bond election and shall cause to be spread upon its minutes a statement of the results of the municipal bond election as ascertained by the canvass at the first available City Council meeting following receipt thereof. SECTION 2. Bonds. The City Council proposes to issue and sell bonds of the City, in one or more series, for the object and purpose, but not exceeding the amount, specified in the measure, if two-thirds of the qualified electors voting on 4 2214 such measure at the municipal bond election shall vote in favor of the measure. The maximum principal amount of the bonds shall be Eight Million ($8,000,000) Dollars. The bonds shall bear interest at a rate not to exceed the maximum legal rate per annum, payable semiannually (except that interest for the first year after the date of the bonds may be made payable at the end of said year), except as may otherwise be permitted by law. The proceeds of the bonds shall be applied only to the specific purpose identified in the measure set forth in Section 2 of this Ordinance and shall be deposited into an account created for such purpose pursuant to Government Code Section 53410. The City Manager shall cause the chief fiscal officer of the City to file with the City Council annually a report complying with the provisions of Government Code Section 53411. SECTION 5. Publication. The City Clerk of the City is hereby directed, upon the adoption of this Ordinance, to publish the same once a week for two (2) weeks in the Arcadia Weekly, a newspaper published less than six (6) days a week in the City. No other notice of the election hereby called need be gIven. SECTION 6. Effective Immediately. This Ordinance shall be forthwith entered upon the minutes of the City Council and in the Ordinance Book of the City. This Ordinance, being an ordinance calling and ordering an election, shall take effect from and after its final passage and approval. SECTION 7. Certification. The City Clerk shall certify the adoption of this Ordinance. 5 2214 Passed, approved and adopted this 3rd day of January ,2001 Mayo .ofthe City of Arcadia ATTEST: ~~ f/-X ity Clerk ~ APPROVED AS TO FORM: I ~ri~ Stephen P. Deitsch City Attorney 6 2214 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS: CITY OF ARCADIA ) I, JAMES H. BARROWS, City Clerk of the City of Arcadia, hereby certifies that the foregoing Ordinance No. 2214 was passed and adopted by the City Council of the City of Arcadia, signed by the Mayor and attested to by the City Clerk at a regular meeting of said Council held on the 3rd day of January, 2006 and that said Ordinance was adopted by the following vote, to wit: AYES: Councilmember Chandler, Kovacic, Marshall, Segal and Wuo NOES: None ABSENT: None // -;J-f? s:-- ~k of the City of Arcadia 7 2214