SR-071696-6BPCD:SF:PC
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Council Meeting: July 16, 1996
TO: Mayor and City Council
FROM: City staff
6B
Santa Monica, Cali~U~n~~
SUBJECT: Recommendation to Approve a Resolution of Necessity for
a General Obligation Bond Measure to Assist in the
Funding of the Construction of a New Public Safety
Building.
INTRODUCTION
This staff report recommends that the City Council adopt the
attached Resolution of Necessity stating the need far General
Obligation Bond on the November 5, 1996 ballot to assist in the
funding of the construction of a public safety building.
BACKGROUND
On June 11, 1996 the City Council directed staff to take all
appropriate actions so the Council may consider placing a general
obligation bond on the November 5, 1996 ballot to help fund the
construction of a new public safety building. This Resolution of
Necessity is the initial procedural step in placing a bond measure
on the ballot.
Adoption of the Resolution of Necessity does not commit the Council
to placing the bond on the ballot, or the actual bond amount.
Placement of the bond on the ballot requires adoption of additional
resolutions and an ordinance, which will be presented to the
Council on July 23, 1996, with a detailed staff report on a
recommended band amount and related items.
1 _6B
JUL 161996
The Resolution of Necessity Yncludes an estimated cost of
improvements, which includes the total cost of the building,
financing costs and bond contingencies.
BUDGET/FINANCIAL IMPACTS
Adoption of the Resolution of Necessity does not have a budget or
fiscal impact.
STAFF RECOMMENDATION
It is recommended that the City Council adopt the attached
Resolution of Necessity to begin the process far considering the
placement of a general obligation bond measure on the November 5,
1996 ballot to help fund the construction of a new public safety
budding .
Prepared by: Suzanne Frick, Director
Paul Casey, Assistant to the Director
Planning and Community Development Department
Attachment: A. Resolution of Necessity
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ATTACHMENT A
SECTION 5. This Resolution shall be adopted upon a vote of no
less than two-thirds of all members of the City Council.
SECTION 6. The City Clerk shall certify to the adoption of
this Resolution and thenceforth and thereafter the same shall be in
full force and effect.
APPROVEI] AS TO FORM
Marsha J~ s Moutrie
City Attorney
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.Adopted and appro~~ed this 16th of 7uly. 1996
flavor
1 hereb~~ certsfG~ that the foregoing Resolution 90x8 (CCS) ~}°as dul~~ adapted at a meeting
of the Cite Council held on the 16th of 3uiy .1496 by the follov~ mg vote
Aves Counc~lmembers Abdo. Ebner. Genser. Holbrook. Rosenstein. Greenberg
Noes Councilmembers None
Abstain Councilmembers None
Absent Councilmembers Q' Connor
ATTEST
~ a` ~ ~ ~-
Cit<•~ Clerk
CA:MJM:f:\atty\muni\laws\mox\bondres.i
City Council Meeting 7-16-96 Santa Monica, California
RESOLUTION NO. 9058 (CCS)
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA DETERMINING THAT THE
PUBLIC INTEREST AND NECESSITY DEMAND THE
ACQUISITION, CONSTRUCTION AND COMPLETION
OF CERTAIN MUNICIPAL IMPROVEMENTS AND
THEIR FINANCING THROUGH THE ISSUANCE
OF GENERAL OBLIGATION BONDS
WHEREAS, the City of Santa Monica {the "City"} 1s authorized
to issue general obligation bonds to finance municipal improvements
pursuant to the provisions of Article 1, commencing with Section
43600, of Chapter 4 of Division 4 of Title 4 of the California
Government Code (the "Act"};
WHEREAS, the City intends to issue general obligation bonds
under and pursuant to the Act to finance the acquisition and
construction of a public safety building and certain parking,
street, utility and other improvements related thereto (the
"Improvements"); and
WHEREAS, in order to initiate proceedings under the Act to
provide for the financing of the Improvements, the City Council of
the CYty (the "City Council") must make certain findings and
determinations;
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NOW, THEREFORE, BE IT RESOLVED, by the City Council of the
City of Santa Monica as follows:
SECTION 1. The public interest and necessity demand, and it
is the intention of the City Council to require, the acquisition,
construction and completion of the Improvements and to issue
general obligation bonds of the City to finance the cost thereof,
subject to completion of the proceedings required by the Act.
SECTION 2. The estimated cast of the Improvements is not to
exceed FORTY-ONE MILLION NINE HUNDRED THOUSAND DOLLARS
($41,900,000.00}. Said estimated costs include provision for legal
and other fees, costs of printing of bonds and other casts and
expenses incidental to or connected with the issuance and sale of
general obligat~an bonds to finance the costs of the Improvements.
SECTION 3. The City Council hereby finds and determines that
the casts of the Improvements require an expenditure by the City
greater than the amount allowed for it by the annual tax levy of
the City. The principal amount of general obligation bonds of the
City to be issued for the Improvements will not exceed the
estimated cost set forth above for the Improvements.
SECTION 4. This Resolution is adopted, and general obligation
bonds of the City are to be issued, pursuant to the Act.
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