HomeMy WebLinkAbout7646RESOLUTION NO. 7646
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 2025-26 TO PAY FOR THE
DEBTSERVICE 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.
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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 2025-26 to pay for the authorized debt service on the above -described Bonds:
Series 2021 General Obligation Refunding Bonds
(Series Measure A): $488,700
Series 2021 General Obligation Refunding Bonds
(Series Police Station): $353,600
SECTION 2. The City Clerk shall certify to the adoption of this Resolution.
Passed, approved and adopted this 19th day of August, 2025.
ATTEST:
City Clerk
APPROVED AS TO FORM:
Michael J. Maurer
City Attorney
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Mayor of &K,6fy of Arcadia
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) SS:
CITY OF ARCADIA )
I, LINDA RODRIGUEZ, City Clerk of the City of Arcadia, hereby certifies that the
foregoing Resolution No. 7646 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 19th day of August, 2025 and that said Resolution was
adopted by the following vote, to wit:
AYES: Cao, Cheng, Fu, Wang, and Kwan
NOES: None
ABSENT: None
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City Clerk of the City of Arcadia