O2293City Council Meeting 8-11-09
ORDINANCE NUMBER 229~CCS)
(City Council Series)
Santa Monica, California
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA SETTING THE 2009/10
TAX RATE FOR THE LIBRARY GENERAL OBLIGATION BONDS
WHEREAS, at the November 8, 1988 general election, by a favorable vote of
more than two thirds of all the voters voting on the proposition, the issuance of General
Obligation Bonds (the "1990 Bonds") in the principal amount of $4.5 million 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) ("1990 Bond Resolution"), authorizing the issuance of such Bonds and such
issuance and sale of the 1990 Bonds occurred on April 10, 1990; and
WHEREAS, on May 26, 1998, the City Council adopted Resolution 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
WHEREAS, at the November 3, 1998 general election, by a favorable vote of
more than two thirds of all the voters voting on the proposition, the issuance of General
Obligation Bonds (the "2002 Bonds") in the principal amount of $25 million was authorized
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for the purposes of construction, improvement, and remodeling of the Main Library and
branch libraries; and
WHEREAS, on July 23, 2002, the City Council adopted Resolution Number 9785
(CCS) ("The 2002 Bond Resolution"), authorizing the issuance of such Bonds and such
issuance and sale of the 2002 Bonds occurred in August 2002; and
WHEREAS, the City Council of the 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 1990 and 2002 Bond Resolutions, the City
Council is required to fix, levy and collect annually until all of the 1990 and 2002 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 1990 and 2002 Bonds and such part of principal as the same shall
become due; and
WHEREAS, the taxes required to be levied and collected by the 1990 and 2002
Bond Resolutions 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,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES ORDAIN AS FOLLOWS:
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SECTION 1. The City Council hereby sets the Fiscal Year 2009/10 ad valorem
Tax Rate for the refunded 1990 bonds (City of Santa Monica General Obligation Refunding
Bonds Series 1998 -Main Library Improvement Project) at $.003029 per $100.00 of
assessed value for property located within the City of Santa Monica.
SECTION 2. The City Council hereby sets the Fiscal Year 2009/10 ad valorem
Tax Rate for the city of Santa Monica General Obligation Bonds, Series 2002 (Library
Improvements Project) at $.008875 per $100.00 of assessed value for property located
within the City of Santa Monica.
SECTION 3. 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 4. 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 competentjurisdiction, 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
would be subsequently declared invalid or unconstitutional.
SECTION 5. 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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newspaperwithin 15 days after its adoption. This Ordinance shalltake effect upon adoption
pursuant to Santa Monica Charter Section 619(c).
APPROVED AS TO FORM:
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Approved and adopted this 11th day of August,
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. 2293 (CCS) had its introduction and adoption at the Santa
Monica City Council meeting held on August 11, 2009, by the following vote:
Ayes: Council members: Bloom, Davis, Holbrook, McKeown,
Mayor Genser; Mayor Pro Tem O'Connor
Noes: Council members: None
Abstain: Council members: None
Absent: Council members: Shriver
ATTEST:
~V~e-~,=..'W
Maria M. Ste rt, City Clerk
A summary of Ordinance No. 2293 (CCS) was duly published pursuant to California
Government Code Section 40806.