Resolution 06454CITY OF ALAMEDA RESOLUTION NO. 6454
RESOLUTION OF THE COUNCIL OF THE CITY OF ALAMEDA IN OPPOSITION
TO PROPOSED METHOD OF FINANCING OF OAKLAND-ALAMEDA COUNTY
COLISEUM COL[SEUM COMPLEX.
WHEREAS, the construction of the proposed Oakland-Alameda County Coliseum Complex would add
an attractive facility to this area; and
WHEREAS, the Directors of Oakland-Alameda County Coliseum, Inc., are to be commended for
their untiring efforts to accomplish this and
WHEREAS, the Directors of Oakland-Alameda County Coliseum, Inc., have proposed that this
project be financed by issuance of $25,000,000. Four (4%) Per Cent lease purchase hoods nn a thirty-
six (36) year basis; and
WHEREAS, the President of Oakland-Alameda County Coliseum, Inc., has stated under date of
June 8, 1962, that financing by formation of a separate assessment district would make it impossible
to pro rate the cost between the City of Oakland and the remainder of Alameda County on the percentage
basis proposed by Coliseum, Inc.; and
WHEREAS, while the President of Coliseum, Inc., has stated further under date of June 8,
1962, that without formation of such separate assessment district, financing under conditions other
than as proposed hy Coliseum, Inc., would he impractical and difficult at best, he has not stated
that such other methods of financing would be impossible; and
WHEREAS, to the best of our present knowledge, no officer of competent legal jurisdiction
of either the County of Alameda or the City of Oakland has advised that other means of financing
would not be legally possible; and
WHEREAS, information and projections have been furnished to your Honorable Body and to the
Directors of Coliseum, Inc., reflecting an alternative method of financing this proposed project by
issuance of general obligation bonds, with indicated savings of financing costs, under current market-
ing conditions, of a minimum of over ten million dollars;
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Alameda respectfully
urges your Honorable Body to forthwith study and determine the feasibility of financing this proposed
project by means of general obligation bonds, and/or other means of financing conditioned upon public
approval; and
BE IT FURTHER RESOLVED, that this Council is opposed to this proposed project under the
method of financing presently proposed by the Board of Directors of Oakland-Alameda County Coliseum, Inc.
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I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly
introduced and adopted by the Council of the City of Alameda in regular meeting assembled on the
2nd day of April, 1963, by the following vote, to wit:
AYES: Councilmen Godfrey, McCall, Rose and Schacht, (4).
NOES: President Collischonn, (1).
ABSENT: None,
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of said
City this 2nd day of April, 1963.
SHIRLEY H. TENNIER
(SEAL) City Clerk of the City of Alameda
IRMA L. NELSON
Deputy
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1 hereby certify that the foregoing is a full, true and correct copy of "City of Alameda
Resolution No. 6454, RESOLUTION OF THE COUNCIL OF THE CITY OF ALAMEDA IN OPPOSITION TO PROPOSED
METHOD OF FINANCING OF OAKLAND-ALAMEDA COUNTY COLISEUM COMPLEX", introduced and adopted by the
Council on the 2nd day of April, 1963.