Resolution 14569CITY OF ALAMEDA RESOLUTION NO. 14569
REQUESTING AND AUTHORIZING THE COUNTY OF ALAMEDA
TO LEVY A TAX ON ALL REAL AND PERSONAL PROPERTY IN
THE CITY OF ALAMEDA AS A VOTER APPROVED LEVY FOR
THE GENERAL OBLIGATION BONDS ISSUED PURSUANT TO A
GENERAL ELECTION HELD NOVEMBER 7, 2000
WHEREAS, on November 7, 2000, voters of Alameda overwhelmingly
passed Measure "O ", authorizing the issuance of bonds in the amount not to
exceed $10,600,000 (the "Bonds ") to finance the acquisition, construction and
completion of a new Main Library facility and improvements to two branch
facilities in the City of Alameda (the "project "; and
WHEREAS, the City of Alameda received a final grant award in
December, 2002, in the amount of $18,487,952; and
WHEREAS, Resolution No. 13583, adopted by the City Council on
March 4, 2003, authorized and directed the sale of not to exceed $10,600,000
aggregate principal amount of City of Alameda, California General Obligation
Bonds; and the levying of an ad valorem tax; and
WHEREAS, for the purpose of paying the principal of and interest on the
Bonds, the City of Alameda must authorize the County of Alameda to levy and
collect annually each year an ad valorem tax in an amount sufficient to pay
principal and interest on the bonds; and
WHEREAS, Measure "0" set the maximum tax rate at $15 /$100,000 of
assessed valuation over 30 years; and
WHEREAS, the required tax rate for Fiscal Year 2011-12 is
$7.08/$100,000 of assessed valuation.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
of Alameda hereby authorizes the County of Alameda to levy a tax on all real
and personal property in the County of Alameda as a voter - approved levy for
the General Obligation Bonds issued pursuant to the General Election held
November 7, 2000.
BE IT FURTHER RESOLVED by the City Council of the City of Alameda
that the debt service for the $10,600,000 general obligation bonds will be paid
from a tax levy on all real and personal property in Alameda of $7.081$1 00,000
of assessed value for 2011 -12.
1, the undersigned, hereby certify that the foregoing Resolution was duty
and regularly adopted and passed by the Council of the City of Alameda in a
regular meeting of the City Council on the 7th day of June, 2011, by the
following vote to wit:
AYES: Councilmembers Bonta, deHaan, Tam and
Mayor Gilmore — 4.
NOES: None.
ABSENT: Councilmember ber Johnson - 1.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, 1 have hereunto set my hand and affixed the official
seal of said City this 8th day of June 2011.
Lara Weisiger, Ci clerk
City of Alameda