HomeMy WebLinkAboutResolution 053-86 RESOLUTION NUMBER 53-86
A RESOLUTION OF THE COUNCIL OF THE
CITY OF ATASCADERO
SUPPORTING JUNE 3, 1986 STATE BALLOT,
PROPOSITON 46 - LOCAL CONTROL ACT
(GENERAL OBLIGATION BOND)
WHEREAS, Proposition 46 is a State Constitutional Amendment
to allow local governments, with local voter approval, to use
lower cost General Obligation Bonds; and
WHEREAS, use of General Obligation Bond savings amounts to
16.5% over the 20-year life of a loan, in comparison with recent
lease revenue and revenue bond financing; and
WHEREAS, the intent of Proposition 13 was to reduce govern-
ment spending and give voters more control over that spending,
but the ban on General Obligation Bonds have had exactly the
opposit effect; and
WHEREAS, the use of General Obligation Bonds would be
restricted to capital improvements (such as fire, police and
school facilities) inwhich 2/3 of the voters must approve the use
of General Obligation Bonds, which is the same 2/3 standard re-
'*AW quirement of Propositon 13 for new taxes or other tax increases;
and
WHEREAS, many persons and organizations that supported
Proposition 13 favor Proposition 46, and Proposition 46 has the
support of the California Tax Payers Association, the State
Chamber of Commerce, the League of California Cities, and dozens
of other groups and individuals who believe in good government;
and
WHEREAS, the ballot measure does not mean that any new
bonds will be issued. It only means that, where a need exists,
the governing body can seek 2/3 voter approval for new bond
issues.
NOW, THEREFORE, be it resolved that the Council of the City
Atascadero hereby endorses Proposition 46, (Local Control Act
General Obligation Bond) , and encourages all voters to exercise
their right to vote in the June 3, 1986 Primary in support of
this measure.
On motion by COUNCILMAN HANDSITY and seconded by
COUNCILWOMAN 21ACREY , the motion is approved by the
following roll call vote
AYES COUNCILMEMBERS HANDSITY , MACKEY, MOLINA, NORRIS & MAYOR NELSON
(RES NO 53-86 , Pg 2)
NOES: NONE
ABSENT: NONE
DATE ADOPTED: 5/27/86
ATTEST CITY OF ATASCADERO
ROBERT M. JONE ROLFE NELSON
City Clerk Mayor
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APPROVED AS TO FORM
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ROBERT M. JONES
City Attorney
PREPARED BY:
Mfffftmij B. SHELTON
City Manager