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HomeMy WebLinkAboutOrd 1027-1988ORDINANCE NO. 1027-88 AN ORDINANCE ORDERING THE SUBMISSION OF A PROPOSITION OF INCURRING BONDED DEBT FOR THE PURPOSE OF THE ACQUISITION, CONSTRUCTION AND COMPLETION OF ORANGE MEMORIAL PARK IMPROVEMENTS TO THE QUALIFIED VOTERS OF THE CITY OF SOUTH SAN FRANCISCO AT AN ELECTION TO BE HELD FOR THAT PURPOSE WHEREAS, the City Council of the City of South San Francisco has adopted by a two-thirds vote of all the members of the Council Resolution No. 131-87 entitled "A Resolution Determining That the Public Interest and Necessity Demand the Acquisition, Construction and Completion of Orange Memorial Park Improvements and Their Financing by Means of the Issuance of General Obligation Bonds of the City of South San Francisco"; WHEREAS, in order to provide for the issuance by the City of its general obligation bonds to finance the improvements described in the Resolution, it is necessary for the Council to pass an ordinance ordering the submission of the proposition of incurring bonded indebtedness for such purpose to the qualified voters of the City at an election held for that purpose; and · WHEREAS, this Council desires to submit such a ballot measure to the qualified voters of the City at a special municipal election to be held in the City on April 12, 1988. THE CITY COUNCIL OF THE CITY OF SOUTH SAN FRANCISCO ORDAINS AS FOLLOWS: Section 1. That a special municipal election is hereby called and ordered to be held in the City on April 12, 1988 at which election there shall be submitted to the qualified voters of the City the proposition of issuing general obligation bonds pursuant to Section 43600 et seq. of the Government Code of the State of California (the "Act"), for the purpose of providing funds for the objects and purposes stated in the proposition set forth below. Section 2. That the proposition shall appear upon the ballot for the special municipal election in the following form: PROPOSITION: Shall the City of South San Francisco be authorized to issue General Obligation Bonds in the amount of five million dollars principal ($5,000,000) to finance the acquisition of approximately 11.5 acres -1- for the expansion of Orange Memorial Park, together with improvements to be constructed thereon. Section 3. The indebtedness to be incurred by the City shall be for the object and purpose of the acquisition of land for the expansion of Orange Memorial Park and the construction and/or completion of improvements thereon (collectively, the "Improvements"). The indebtedness may include the cost of legal and other fees and the cost of printing bonds and other costs and expenses, incidental to or connected with the issuance and sale of the general obligation bonds to be issued to finance the improvements (collectively, the "Bond Issuance Fees and Expenses"). Section 4. The estimated costs of the acquisition, construction and completion of the Improvements, including any Bond Issuance Fees and Expenses attributable thereto, is not to exceed $5,000,000. Section 5. The principal amount of general obligation bonds to be issued for the financing of the Improvements is not to exceed $5,000,000. Section 6. The rate of interest to be paid on the bonds for the Improvements shall not exceed twelve percent (12%) per annum (unless the maximum interest rate for general obligation bonds of cities shall hereafter be increased by the Legislature of the State of California, in which event the maximum fixed by the Legislature shall apply). Section 7. This City Council does hereby submit to the qualified voters of the City, at the special municipal election, this Ordinance and the proposition set forth in Section 2 hereof. The City proposes to acquire, construct and complete the Improvements and to issue and sell general obligation bonds of the City pursuant to the Act in one or more series in the maximum amounts and for the objects and purposes set forth above if two- thirds of all the qualified voters voting on the proposition set forth above vote in favor thereof. The bonds are to be general obligations of the City payable from and secured by taxes levied and collected in the manner prescribed by the laws of the State of California. All of the bonds are to be equally and ratably secured, without priority, by the taxing power of the City. Section 8. The polls for the election shall be opened at seven o'clock a.m. of the day of the election and shall remain open continuously from said time until eight o'clock p.m. of the same day, when the polls shall be closed, except as provided in Section 14301 of the Election Code of the State of California. Section 9. The measure submitted by this Ordinance shall be designated on the ballot by a letter printed on the left margin of the square containing the description of the measure, as provided in Section 10219 of the Elections Code of the State of California. Section 10. All persons qualified to vote at municipal elections in the City upon the date of the election herein provided for shall be qualified to vote upon the proposition submitted at the special election. Section 11. Ballots for the election shall be provided in the form and in the number provided by law. On the ballots, in addition to any other printed matter which may be required by law, two voting squares shall be set off to the right of the proposition submitted -2- at the election, in the manner provided by law, one having the word "YES" printed before it, and the other having the word "NO" printed before it. Section 12. Each voter to vote for the proposition shall stamp or write a cross, or indicate by hole punch or other means, in the blank space opposite the word "Yes" on the ballot to the right of the proposition; and each voter to vote against the proposition shall stamp or write a cross, or indicate by hole punch or other means, in the blank space opposite the word "No" on the ballot to the right of the proposition. Section 13. This Ordinance shall be published once a day for at least seven days in a newspaper published,at least six days a week in the City, or once a week for two weeks in a newspaper published less than six days a week in the City. The City Clerk is hereby authorized and directed to make the publications and to transmit, for receipt no later than January 15, 1988, a certified copy of this Ordinance to the appropriate officials of the County of San Mateo responsible for preparing the ballots for the election. Section 14. This ordinance is adopted pursuant to Government Code 36937 of the State of California and being an ordinance calling and ordering an election, shall take effect immediately upon its adoption. -3- Introduced at a regular meeting of the City Council of the City of South San Francisco, held the 18th day of December, 1987. Adopted as an Ordinance of the City of South San Francisco at a regular meeting of the City Council of the City of South San Francisco, held on the 13th day of January, 1988. AYES: NOES: ABSENT: ABSTAIN: Councilmembers Mark N. Addiego, Richard A. Roberta Cerri Teglia, and Jack Drago None None None Haffey, Gus Nicolopulos, City Clerk As Mayor of the City of South San Francisco, I do hereby approve the foregoing Ordinance this 13thday of January., 19.__.~88 -4- T T~