Loading...
Resolution 13618CITY OF ALAMEDA RESOLUTION NO. 13 618 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 "0 ", 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 levying 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 $151$100,000 of assessed valuation over 30 years; and WHEREAS, the required tax rate for 03 -04 is $14.26/$100,000 of assessed valuation as a result of lower interest rates than originally projected in 2000. 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, 2003. 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 $14.26/$100,000 of assessed value. 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 a regular meeting assembled on the 15th day of July, 2003, by the following vote to wit: AYES : NOES: ABSENT: ABSTENTIONS: None. Councilmembers Daysog, Matarrese, and Mayor Johnson - 3. None. Couneilmember Kerr IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said City this 16th day of July, 2003. Lara Weisiger, City Clad City of Alameda