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HomeMy WebLinkAbout3678 (/ RESOLUTION NO. 3678 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DISAPPROVING PROPOSED COUNTY 1964 STORM DRAIN BOND ISSUE. WHEREAS, this City Council did on April 7, 1964 adopt its certain Resolution No. 3662 wherein and whereby it endorsed the pro- posed county 1964 storm drain bond issue, which endorsement was predi- cated upon the assumptions that the bond issue would be $200,000,000.00 and that the City of Arcadia would receive therefrom an estimated $1,376,536.00; and, WHEREAS, it is presently proposed that said bond issue be in the amount of $275,000,000.00 and that $75,000,000.00 thereof will be spent for regional drains and that the balance thereof will be expended on projects in various areas in accordance with the assessed valuation and population of such areas; and, \VHEREAS, under the formula now proposed the City of Arcadia will receive but $971,040.00 instead of $1,376,563.00 although the neces- sary tax on the property within the City will produce an estimated $1,376,563.00 in addition to the City's proportionate share of taxes for the additional $75,000,000.00 for regional drains. NOI'l, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES RESOLVE AS FOLLOWS: SECTION 1. That this City Council does hereby approve in principle the expenditure of approximately $75,000,000.00 out of a district wide bond issue for the construction of regional drains wherever and to the extent necessary. SECTION 2. That this City ,Council does hereby register its objection to and disapproval of any bond proposal whereby the properties within the City of Arcadia will be taxed on the basis of its assessed - valuation but the proceeds of the bond issue will be expended on any other basis than the ratio of the assessed valuation of the properties in the area where such sums are expended, other than for regional drains. -1- 3678 SECTION 3. That to the extent that any future county storm drain bond issue is proposed on any basis other than that set forth in Sections 1 and 2 hereof, this City Council does hereby withdraw its prior endorsement Sl~t forth in its said Resolution No. 3662 and hereby declares that it does and will oppose any such bond issue. SECTION 4. That the City Clerk shall certify to the adoption of this Resolution and shall cause copies thereof to be forwarded to the Los Angeles County Division of the League of California Cities, to the Board of Supervisors of Los Angeles County, and to the Los Angeles County Flood Control District. I HEREBY CERTIFY that the foregoing resolution was adopted at an adjourned regular meeting of the City Council of the City of Arcadia held on the 11th day of May, 1964, by the affirmative vote of at least three Councilmen, to wit: AYES: Councilmen Balser, Considine, Forman, Reibold and Turner NOES: None ABSENT: None ~;'C~i~ ~a SIGNED AND APPROVED this 11th day of May, 1964. C:::'l /~ 1}~ (1f. ~ ~- Mayor 0 the City of Arcadia ATTEST: ~~~~ Ci ty Clerk , (SEAL) -2- 3678