O2580
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City Council Meeting 7-24-18 Santa Monica, California
ORDINANCE NUMBER 2580 (CCS)
(City Council Series)
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA SETTING THE 2018/19
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, on May 8, 2012, the City Council adopted Resolution Number
10674 (CCS) (the “2012 Bond Resolution”) authorizing issuance of City of Santa Monica
General Obligation Refunding Bonds, Series 2012 (Library Improvements Project) (the
2012 Bonds”) to refund the 2002 bonds in full; and
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WHEREAS, the City Council of the City of Santa Monica is empowered and
obligated to levy ad valorem taxes for the payment of the 2012 Bonds and the interest
thereon, upon all property within the City subject to taxation by the City; and
WHEREAS, in accordance with the 2012 Bond Resolution, the City Council is
required to fix, levy and collect annually until all of the 2012 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 2012 Bonds and such part of principal as the same shall become due; and
WHEREAS, the taxes required to be levied and collected by the 2012 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 2012 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 2018/19 ad valorem
Tax Rate for the City of Santa Monica General Obligation Refunding Bonds, Series 2012
(Library Improvements Project) at $.003213 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
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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
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).
APPROVED AS TO FORM:
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LANE DILG
City Attorney
Approved and adopted this 24th day of July, 2018.
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T e d W i n t e r e r , M a y o r
State of California )
County of Los Angeles ) ss.
City of Santa Monica )
I, Denise Anderson-Warren, City Clerk of the City of Santa Monica, do
hereby certify that the foregoing Ordinance No. 2580 (CCS) had its introduction
and adoption at the Santa Monica City Council meeting held on July 24, 2018, by
the following vote:
AYES: Councilmembers McKeown, Vazquez, Himmelrich, O’Connor,
Mayor Pro Tem Davis, Mayor Winterer
NOES: None
ABSENT: Councilmember O’Day
ATTEST:
_____________________________________ 8/23/2018
Denise Anderson-Warren, City Clerk D a t e
A summary of Ordinance No. 2580 (CCS) was duly published pursuant to California
Government Code Section 40806.
Ted Winterer (Aug 23, 2018)
Ted Winterer