HomeMy WebLinkAbout6842RESOLUTION NO. 6842
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, DETERMINING THE AMOUNT
OF REVENUE TO BE RAISED FROM PROPERTY TAXES
FOR FISCAL YEAR 2012 -13 TO PAY FOR THE DEBT
SERVICE ON THE 2001 AND 2011 GENERAL
OBLIGATION BONDS
WHEREAS, City of Arcadia voters approved the issuance of General Obligation
Bonds Series A 2001 in the principal of $8 million for the construction of a police facility
in a special election held on November 2, 1999, and property taxes are to be raised to
pay for the debt service of the indebtedness through tax levy; and
WHEREAS, City of Arcadia voters approved the issuance of General Obligation
Bonds Series 2011 in the principal of $8 million for the construction of a grade
separation at the intersection of Santa Anita Avenue and the proposed Foothill
Extension of the Metropolitan Transit Authority Gold Line, in the general municipal
election held on April 11, 2006, and property taxes are to be raised to pay for the debt
service of the indebtedness through tax levy.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA, DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS.
SECTION 1. The following is the amount of revenue necessary during Fiscal
Year 2012 -13 to pay for the authorized debt services on the above described Bonds:
Series A, 2001 General Obligation Bonds: $324,257
Series 2011 General Obligation Bonds: $722,905
SECTION 2. The City Clerk shall certify to the adoption of this Resolution.
Passed, approved and adopted this 7th day of August , 2012.
ATTEST:
City Clerk
APPROVED AS TO FORM:
Stephen P. Deitsch
City Attorney
2
Mayor of the City of Arcadia
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) SS:
CITY OF ARCADIA )
I, GENE GLASCO, City Clerk of the City of Arcadia, hereby certifies that the
foregoing Resolution No. 6842 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 7th day of August, 2012 and that said Resolution was adopted by the
following vote, to wit:
AYES: Council Member Kovacic, Wuo and Harbicht
NOES: None
ABSENT: Council Member Segal
3
Cit Clerk of the City of Arcadia