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