Resolution 12234CITY OF ALAMEDA RESOLUTION NO. 12234
CONDEMNING THE EXCESSIVE COMPENSATION FOR THE UNIVERSITY
OF CALIFORNIA CHANCELLOR RETIREMENT BY THE UNIVERSITY OF
CALIFORNIA BOARD OF REGENTS
WHEREAS, on March 20, 1992, Regents of the University of
California ("Regents") unanimously approved an agenda item
pertaining to retirement and severance benefits for David P.
Gardner as President of said University, after approval of the item
on March 19, 1992 by the subcommittee of Officers Salaries and
Administrative Fund; and
WHEREAS, the agenda item was not distributed to the
Regents until March 19, 1992, the date the subcommittee met and
only one day prior to the Regents meeting; and
WHEREAS, the Regents had no opportunity to review said
item before the subcommittee meeting and the agenda item revealed
minor information regarding the monetary package; and
WHEREAS, there were discussions in Closed Session to
dissemble to the press and public the true facts; and
WHEREAS, the clandestine agenda item was structured "In
Strict Confidence", not to be disclosed until October 1, 1992;
however, the substance of the action was disclosed by a Regent to
Governor Wilson on March 23, 1992; and
WHEREAS, the President receives additional housing
allowance upwards of $35,000, club dues, a substantial
entertainment fund, house maintenance, tax planning, automobile and
driver services both in Northern and Southern California; and
WHEREAS, with the present economic conditions of the
State of California and students facing yet another 22% fee
increase, faculty members living on frozen wages, perhaps even
termination, granting President Gardner a $797,000 bonus on top of
a $130,000 a year pension does not put the Regents in a favorable
light with the public as to their charge of sound, prudent
fiduciary responsibilities; and
WHEREAS, funding for education is becoming more acute
each year, serious questions are being asked as to the methodology
and propriety as to the actions of the Regents during this very
difficult period of dwindling budgets.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Alameda, that the Regents of the University of California
is hereby requested to seriously consider rescinding their action
taken at the Regents meeting on March 20, 1992, when they approved
the severance and retirement benefits to the President of the
University of California, David P. Gardner and return confidence
and creditability to a most prestigious, venerable and respected
institution.
BE IT- FURTHER RESOLVED that this Resolution is to be
forwarded to the Regents of University of California.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 21st day of
April , 1992, by the following vote to wit:
AYES: Councilmembers Arnerich, Camicia, Lucas, Roth
and President Withrow - 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 22nd day of April , 1992.
Diane . Felsch, City Clerk
City of Alameda
11002-48 JiilIW:SRC;jeb •4/24/92
RESOLUTION NO. 12235
A RESOLUTION AUTHORIZING ISSUANCE OF BONDS
CITY OF ALAMEDA
Harbor Bay Business Park Assessment District 92 -1
Adopted April 21, 1992
TABLE OF CONTENTS
Page
ARTICLE 1
DEFINITIONS; GENERAL
Section 1.01. DEFINITIONS. . 2
Section 1.02. RULES OF CONSTRUCTION. 7
Section 1.03. EQUAL SECURITY. 7
ARTICLE II
ISSUANCE OF BONDS
Section 2.01. BONDS AUTHORIZED. 8
Section 2.02. UNPAID ASSESSMENTS. 8
Section 2.03. ISSUANCE OF BONDS. 8
Section 2.04. MATURITIES OF BONDS. 8
Section 2.05. INTEREST ON BONDS. 8
Section 2.06. DESIGNATION OF AGENT. 9
Section 2.07. FORM OF BONDS. 9
Section 2.08. PREPARATION AND DELIVERY OF BONDS. 9
Section 2.09. EXECUTION OF BONDS 9
Section 2.10. TEMPORARY BONDS. 9
Section 2.11. TRANSFER AND EXCHANGE OF BONDS. 10
Section 2.12. BOND REGISTER. 10
Section 2.13. BOOK -ENTRY ONLY SYSTEM. 10
Section 2.14. BONDS MUTILATED, LOST, DESTROYED OR STOLEN. 11
Section 2.15. REDEMPTION PRIOR TO MATURITY. 12
Section 2.16. REFUNDING OF BONDS. 12
ARTICLE III
SALE AND DELIVERY OF BONDS
Section 3.01. SALE OF BONDS. 13
Section 3.02. FURTHER AUTHORITY. 13
ARTICLE IV
APPLICATION OF PROCEEDS OF BONDS; ESTABLISHMENT OF FUNDS
Section 4.01. APPLICATION OF PROCEEDS OF SALE OF BONDS. 14
Section 4.02. IMPROVEMENT FUND. 14
Section 4.03. COSTS OF ISSUANCE FUND. 14
Section 4.04. REDEMPTION FUND. 14
Section 4.05. RESERVE FUND. 15
Section 4.06. ESCROW FUND. 15
Section 4.07. INVESTMENT OF FUNDS. 16
ARTICLE V
COVENANTS OF THE CITY; TAX COVENANTS
Section 5.01. COLLECTION OF UNPAID ASSESSMENTS. 17
Section 5.02. FORECLOSURE. 17
Section 5.03. NO ADVANCES FROM AVAILABLE SURPLUS FUNDS. 17
Section 5.04. PUNCTUAL PAYMENT 18
Section 5.05. NO PRIORITY FOR ADDITIONAL OBLIGATIONS. 18
Section 5.06. NO ARBITRAGE. 18
Section 5.07. REBATE OF EXCESS INVESTMENT EARNINGS TO UNITED STATES. 18
Section 5.08. INFORMATION REPORT. 18
Section 5.09. PRIVATE BUSINESS USE LIMITATION. 18
Section 5.10. PRIVATE LOAN LIMITATION. 18
1
Section 5.11. FEDERAL GUARANTEE PROHIBITION. 19
Section 5.12. FURTHER ASSURANCES. 19
Section 5.13. AMENDMENT. 19
ARTICLE VI
MISCELLANEOUS
Section 6.01. FUNDS AND ACCOUNTS. 20
Section 6.02. PARTIAL INVALIDITY. 20
Section 6.03. DEFEASANCE. 20
Section 6.04. VALIDITY OF BONDS. 20
Section 6.05. PLEDGE OF ASSESSMENTS. 20
Section 6.06. REPEAL OF INCONSISTENT RESOLUTIONS. 20
Section 6.07. AUTHORITY OF FINANCE DIRECTOR. 20
Section 6.08. CERTIFIED COPIES. 21
Section 6.09. EFFECTIVE DATE OF THE RESOLUTION. 21
EXHIBIT A - Terms and Conditions
EXHIBIT B - Form Of Bond
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