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RESOLUTION NO. 5208
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, TRANSFERRING A PORTION OF
THE PRIVATE ACTIVITY BOND ALLOCATION OF THE CITY
OF ARCADIA
WHEREAS, pursuant to the Tax Reform Act of 1984 (Public Law 98-369)
and the Governor's Proclamation of July 19, 1984 implementing said Act, the City
of Arcadia (the "City") has received a private activity bond allocation in the
amount of $2,473,000 for the calendar year 1984; and
WHEREAS. it is not expected that the City will utilize the full
amount of such allocation for the issuance of private activity bonds during
1984; and
WHEREAS. the Proclamation permits the City to transfer to the State
of California or any other local agency all or any portion of its private
activity bond allocation in any calendar year; and
WHEREAS. the City wishes to cooperate with the State and other local
governments which may need allocation in 1984; and
WHEREAS. the City understands that the State acting through its Debt
Limit Allocation Committee is willing to act as a clearinghouse to assist in
the most efficient utilization of allocations in 1984.
NOW, THEREFORE, BE IT RESOLVEO by the City Council of the City of
Arcadia as follows:
1. The City of Arcadia hereby transfers to the State of California
the aggregate amount of $2.473,000 of the City's unused private activity bond
allocation for 1984 under the Act and the Governor's Proclamation. Such allo-
cation may be transferred by the California Debt Limit Allocation Committee to
any other state agency or local agency as such Committee may deem appropriate,
and may be used by any such transferee for a carry forward election.
2. The City Clerk is hereby directed to immediately transmit a
certified copy of this Resolution to the California Oebt Allocation Committee.
3. This Resolution shall take effect immediately upon its passage.
4. The City Clerk shall certify the adoption of this Resolution.
Passed. approved and adopted th,s 18th day of December . 1984
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MAYO OF THE CITY ARCADIA
-1- 5208
ATTEST:
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CITY CLERK OF THE CITY OF ARCADIA
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) SS:
CITY OF ARCADIA )
I, CHRISTINE VAN MAANEN, City Clerk of the City of Arcadia, hereby
certify that the foregoing Resolution No. 5208 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 18th day of
December 1984, and that said Resolution was adopted by the following vote,
to-w it:
AYES: Councilmen Gilb, Lojeski, Pellegrino, Young and Hannah
NOES: None
ABSENT: None
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CITY CLERK OF THE CITY OF ARCADIA
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Reso 1 ut i on No. 5208