Resolution 15051CITY OF ALAMEDA RESOLUTION NO. 15051
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 CITY'S 2013 GENERAL OBLIGATION REFUNDING BONDS
WHEREAS, on November 7, 2000, voters of Alameda passed Measure "0",
authorizing the issuance of bonds in the amount not to exceed $10,600,000 (the "Bonds")
to finance a portion of the costs of the acquisition, construction and completion of a new
Main Library facility and improvements to two branch facilities in the City of Alameda; 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 (the "2003 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 sale of the City's $9,010,000 2013
General Obligation Refunding 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 2013
Refunding 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 "0" 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 2015-16 is $6.50/$100,0010 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 City of Alameda as a voter-approved levy for the 2013 Refunding Bonds;
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 $6.50/$100,000 of assessed value for 2015-
16.
I, 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 16th day of June 2015, 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 17th day of June 2015.
Lara Weisiger, City Clerk
City of Alameda
APPROVED AS TO FORM:
Jan f Kern, City Attorney
Cit "of Alameda