HomeMy WebLinkAbout7229 RESOLUTION NO. 7229
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 2018-19 TO PAY
FOR THE DEBT SERVICE ON THE 2011 AND 2012 GENERAL
OBLIGATION BONDS
WHEREAS, in a special election held on November 2, 1999, 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; the 2001 Bonds were defeased by the
issuance of General Obligation Bonds Series 2012 on November 6, 2012; and property
taxes are to be raised for the principal and interest payments of the indebtedness through
tax levy; and
WHEREAS, in the general municipal election held on April 11, 2006, 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 is located at the
intersection of Santa Anita Avenue and the Foothill Extension of the Metropolitan Transit
Authority Gold Line; and 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
2018-19 to pay for the authorized debt service on the above described Bonds:
Series 2011 General Obligation Bonds: $582,200
Series 2012 General Obligation Bonds: $408,100
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SECTION 2. The City Clerk shall certify to the adoption of this Resolution.
Passed, approved and adopted this 7th day of August, 2018.
Mayor of the C. y of Arcadia
ATTEST:
C _r
APPROVED AS TO FORM:
,///
Stephen P. Deitsch
City Attorney
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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. 7229 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, 2018 and that said Resolution was adopted by the
following vote, to wit:
AYES: Amundson, Chandler, Verlato, and Tay
NOES: None
ABSENT: Beck
T it .0.40 - :the City of Arcadia
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