HomeMy WebLinkAbout7520 - ModifiedRESOLUTION NO. 7520
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 2023-24 TO PAY
FOR THE DEBT SERVICE ON THE 2021 GENERAL OBLIGATION
REFUNDING BONDS (SERIES BOND MEASURE A AND SERIES
POLICE STATION PROJECT)
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; the 2012 Bonds
were defeased by the issuance of General Obligation Refunding Bonds (Series Police
Station Project) on November 23, 2021 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; the 2011 Bonds were defeased by the issuance of General Obligation
Refunding Bonds (Series Bond Measure A) on November 23, 2021 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
2023-24 to pay for the authorized debt service on the above-described Bonds:
1
Series 2021 General Obligation Refunding Bonds
(Series Police Station): $417,700
Series 2021 General Obligation Refunding Bonds
(Series Measure A): $618,100
SECTION 2. The City Clerk shall certify to the adoption of this Resolution.
Passed, approved and adopted this 5th day of September, 2023 .
ATTEST:
( z6l�
City Clerk
APPROVED AS TO FORM:
Michael J. Maurer
City Attorney
2
Mayor of the4ofdia
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. 7520 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 5th day of September, 2023 and that said Resolution was adopted by
the following vote, to wit:
AYES: Cao, Kwan, Wang, Verlato, and Cheng
NOES: None
ABSENT: None
3
City Clerk of the City cadia