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HomeMy WebLinkAbout4797 RESOLUTION NO. 4797 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA REQUESTING THE PUBLIC UTILITIES COMMISSION TO ASSIGN TO LOCAL GOVERNMENT PORTIONS OF THE SAVINGS IN PROPERTY TAXES TO BE REALIZED BY THE SOUTHERN CALIFORNIA EDISON COMPANY PURSUANT TO PASSAGE OF PROPOSITION l3 BY DENLAL OF REQUESTED RATE INCREASE AND FURTHER, IF SAVINGS ARE AVAILABLE, TO REDUCE RATE BELOW CURRENT LEVEL. WHEREAS, the passage of Proposition 13 has resulted in significant property tax reduction for all property owners, and WHEREAS, the impact of Proposition 13 has been to severely limit revenues available to local governments historically received from the ad valorem tax, and WHEREAS, street lights provided by most local governments in the Los Angeles County area have historically been funded by ad valorem taxes, and WHEREAS, ad valorem taxes to finance these street lighting systems will be reduced in the magnitude of 70 percent, and WHEREAS, the continued operation of street lights is necessary for the safety and convenience of the public, and WHEREAS, the Southern California Edison Company will receive significant property tax reductions under Proposition l3, and WHEREAS, the Southern California Edison Company has before the PUblic Utilities Commission a request for street light rate increases in the average amount of 15 percent; and WHEREAS, it is appropriate that priority for the assignment of property tax savings to be realized by the Southern California Edison Company be made to local governments serviced by the Southern California Edison Company, -1- 4797 NOW, THEREFORE, BE IT RESOLVED, that the Public Utilities Commission is requested to assign sufficient portions of the property tax savings to be realized by the Southern California Edison Company to the local street lighting systems by denial of the requested rate increase; and, that street light rates be reduced below the current level if sufficient savings are available. BE IT FURTHER RESOLVED, that the City Clerk be instructed to notify the Public Utilities Commission and the Southern California Edison Company of this action. BE IT FURTHER RESOLVED that the City Clerk shall certify to the adoption of this resolution. I HEREBY CERTIFY that the foregoing Resolution was adopted at a regular meeting of the City Council of the City of Arcadia held on the 19th day of December , 1978, by the affirmative vote of at least three Councilmen, to wit: AYES: Councilmen Gilb, Margett, Pellegrino, Saelid and Parry. NOES: None ABSENT: None SIGNED AND APPlioVED this 19th day of December ,1978. ~~iG~di' -2- 4797