O2366Attachment B
City Council Meeting: 8-23-11
ORDINANCE NUMBER~3lo%(CCS)
(City Council Series)
Santa Monica, California
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA SETTING THE 2011/12
TAX RATE FOR THE LIBRARY GENERAL OBLIGATION BONDS
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 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
1
WHEREAS, in accordance with the 2002 Bond Resolution, the City Council is
required to fix, levy and collect annually until all of the 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 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 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:
SECTION 1. The City Council hereby sets the Fiscal Year 2011/12 ad
valorem Tax Rate for the City of Santa Monica General Obligation Bonds, Series 2002
(Library Improvements Project) at $.006973 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such inconsistencies and no further, is hereby repealed or modified to that extent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..
2
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 would be subsequently declared invalid or unconstitutional.
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 newspaper within 15 days after its adoption. This Ordinance shall take effect
upon adoption pursuant to Santa Monica Charter Section 619(c).
3
APPROVED AS TO FORM:
Approved and adopted this 23rd day of August, 2011.
ichard Bloom, Mayor
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. 2366 (CCS) had its introduction and adoption at the Santa
Monica City Council meeting held on August 23, 2011, by the following vote:
Ayes: Council members: Holbrook, O'Connor, O'Day, McKeown, Shriver
Mayor Pro Tem Davis, Mayor Bloom
Noes: Council members: None
Absent: Council members: None
ATTEST:
~ ~-
Maria M. Stewart, ity Clerk
A summary of Ordinance No. 2366 (CCS) was duly published pursuant to California
Government Code Section 40806.