Resolution 15155CITY OF ALAMEDA RESOLUTION NO. 15155
REQUESTING AND AHTHORIZING 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 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 $15,487,952; and
WHEREAS, Resolution No. 13563, 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, Resolution No. 14861, adopted by the City Council on
September 17, 2013, authorized the execution and delivery of the City's
$9,010,000 2013 General Obligation Bonds (the "2013 Refunding Bonds ") and
directed to use a portion of the proceeds to redeem the outstanding 2003 Bonds
in full on November 1, 2013; 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 of the bonds; and
WHEREAS, Measure "O" set the maximum tax rate at $15.98/$100,000 of
assessed valuation over 30 years; and
WHEREAS, the required tax rate for Fiscal Year 2016 -17 is $5.50/$100,000
of assessed valuation.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Alameda hereby authorized 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;and
BE IT FURTHER RESOLVED by the City Council of the City of Alameda
that the debt service for the $9,010,000 General Obligation Bonds will be paid from
a tax levy on all real and personal property in Alameda of $5.50/$100,000 of
assessed value for 2016-17.
1, the undersigned, hereby certify that the forgoing Resolution was duly 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 2016, by the following vote to
wit:
AYES: Councilmembers Daysog, Ezzy Ashcraft, Matarrese,
Oddie and Mayor Spencer — 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 8th day of June 2016.
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Lara Weisiger, ty Clerk
City of Alameda
— (�--
Janet ./Kern, City Attorney
City of Alameda