O1985 (2)
F:finance\treas\share\library7.wpd
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ORDINANCE NUMBER l.2Jli.. (CCS)
(City Council Series)
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA SETTING THE 2000-01
TAX RATE FOR THE MAIN LIBRARY IMPROVEMENTS
PROJECT GENERAL OBliGATiON BONDS
WHEREAS, at the November 8, 1988 general election, by a favorable vote of more
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Bonds (the "Bonds") in the principal amount of $4.5 miilion was authorized for the purposes
of financing acquisition and improvement of real property for meeting parking and future
expansion needs of the Main Library; and
WHEREAS, on February 13, 1990, the City Council adopted Resolution Number
7976 (CCS) ("The Bond Resolution"). authorizing the issuance of such Bonds and such
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WHEREAS, on May 26, ; 998, the City Councii adopted Resoiution Number 9273
authorizing the refunding of a portion of the 1990 General Obligation Bonds for the Main
Library Improvements Project and such refunding occurred on June 25, 1998; and
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WHEREAS, the City Council ofthe City of Santa Monica is empowered and obligated
to levy ad valorem taxes for the payment of said Bonds and the interest thereon, upon all
property within the City subject to taxation by the City; and
WHEREAS, in accordance with the Bond Resolution, the City Council is required to
fix, levy and collect annually until all of the Bonds are paid or until there is a sum in the City
treasury set apart for that purpose sufficient to meet all sums coming due for principal and
interest on said Bonds, a tax sufficient to pay the annual interest on the Bonds and such
part of principal as the same shall become due; and
WHEREAS, the taxes required to be levied and coflected by the Bond Resolution
shall be in addition to all other taxes levied for City purposes, shall be collected at the time
and in the manner as other City ad valorem taxes are collected, and shall be used for no
purpose other than payment of the Bonds and accrued interest thereon,
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES ORDAIN AS FOLLOWS:
SECTION 1. The City Council hereby sets the Fiscal Year 2000-01 ad valorem Tax
Rate forthe Main Library Improvements Project General Obligation Bonds Series 1990 and
General Obligation Refunding Bonds, Series 1998 at $.003940 per $100.00 of assessed
value for property located within the City of Santa Monica.
SECTION 2. Any provision of the Santa Monica Municipal Code or appendices
thereto inconsistent with the provisions of this Ordinance, to the extent of such
inconsistencies and no further, is hereby repealed or modified to that extent necessary to
effect the provisions of this Ordinance.
SECTION 3. If any section, subsection, sentence, clause, or phrase of this
Ordinance is for any reason held to be invalid or unconstitutional by a decision of any court
of competent jurisdiction, such decision shall not affect the validity of the remaining portions
of this Ordinance. The City Council hereby declares that it would have passed this
Ordinance and each and every section, subsection, sentence, clause, or phrase not
declared invalid or unconstitutional without regard to whether any portion of the Ordinance
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SECTION 4. The Mayor shall sign and the City Clerk shall attest to the passage of
this Ordinance. The City Clerk shall cause the same to be published once in the official
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newspaper within 15 days after its adoption. This Ordinance shall take effect upon adoption
pursuant to Santa Monica Charter Section 619(c).
APPROVED AS TO FORM:
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i ,-->>--{A~~"--( L.- 4)1"\^-- it, it- c , <v ';
MARSHA JONES'MOUTRIE l
City Attorney
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Adopted and approved this 12th day of September, 200~
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I
Ken Genser. Ma r
State of California )
County of Los Angeles) ss.
City of Santa Monica )
I, Maria M. Stewart, City Clerk of the City of Santa Monica, do hereby certifY that the foregoing
Ordinance No. 1985 (CCS) was introduced and was adopted at the City Council meeting held on
September l2, 2000, by the following vote:
Ayes: Council members:
Rosenstein, McKeown, Feinstein,Bloom,
Mayor Pro Tern O'Connor, Mayor Censer
Noes: Council members:
None
Abstain: Council members:
None
Absent: Council members:
Holbrook
ATTEST:
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Maria M. Stewart, City Cler