HomeMy WebLinkAbout6986RESOLUTION NO. 6986
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 2013 -14 TO PAY FOR THE DEBT
SERVICE ON THE 2011 AND 2012 GENERAL
OBLIGATION BONDS
WHEREAS, City of Arcadia voters approved the issuance of General Obligation
Bonds Series 2001 in the principal of $8 million for the construction of a police facility in
a special election held on November 2, 1999, and the 2001 Bonds were defeased by
the issuance of General Obligation Bonds Series 2012 on November 6, 2012. Property
taxes are to be raised for the principal and interest payments 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, which will locate 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. Property taxes are to be raised for the
principal and interest payments 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 2013 -14 to pay for the authorized debt services on the above described Bonds:
Series 2011 General Obligation Bonds: $583,744
Series 2012 General Obligation Bonds: $392,862
SECTION 2. The City Clerk shall certify to the adoption of this Resolution.
Passed, approved and adopted this 6tday of August , 2013.
—A , z -" je��
Mayor of th Ci y Arcadia
ATTEST:
Cit Clerk
APPROVED AS TO FORM:
Stephen P. Deitsch
City Attorney
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. 6986 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 6th day of August, 2013 and that said Resolution was adopted by the
following vote, to wit:
AYES: Council Member Amundson, Kovacic, Harbicht, Wuo and Segal
NOES: None
ABSENT: None
Citj Clerk oftAe City of Arcadia