Resolution No. 5275
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RESOLUTION NO. 5275
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON AUTHORIZING ANALYSIS OF CITY
MEASURES
WHEREAS, on April 15,1 986, the City Council of the City
Vernon adopted a resolution calling, providing for and
giving notice of a special election for the purpose of
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submitting to the qualified voters of the City a proposition
for the issuance of revenue bonds by the City; and
WHEREAS, the City Council has on this date adopted an
ordinance calling, providing for and giving notice of a special
election for the purpose of submitting to the qualified voters
of the City a proposition for the issuance of general
obligation bonds by the City; and
WHEREAS, each of the aforementioned resolution and
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ordinance has qualified for a place on the ballot and shall be
submitted to the voters at said special election, to be held on
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June 17, 1986;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Vernon, that:
1. All of the foregoing recitals are hereby adopted as
true and correct.
2. The City Clerk is directed to transmit a copy of the
following propositions to the City Attorney:
GENERAL OBLIGATION BOND PROPOSITION:
Shall the City of Vernon authorize the issuance
of general obligation bonds in one or more
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series, in an aggregate principal amount not
to exceed $150,000,000, for the acquisition,
construction, improvement and financing of
additions, extensions and improvements of
the electrical power system of the City and
other public improvements, and the acquisition
of land and rights of way inside or outside
the City boundaries, and including all
engineering, inspection and legal fees, bond
reserve funds and interest during the construction
period and for a period not to exceed twelve
months after completion of construction, and
other costs and expenses incidental to or
connected with such acquisition, construction,
improvement and financing?
REVENUE BOND PROPOSITION;
Shall the City of Vernon authorize the issuance of
revenue bonds in one or more series, in an
aggregate principal amount not to exceed
$150,000,000, for the acquisition, construction,
improvement and financing of additions,
extensions and improvements of the electrical
power system of the City and other public
improvements, and the acquisition of land and
rights of way inside or outside the City
boundaries, and including all engineering,
inspection and legal fees, bond reserve funds
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and interest during the construction period and
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for a period not to exceed twelve months after
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completion of construction, and other costs
and expenses incidental to or connected with
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such acquisition, construction, improvement
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and financing?
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3.
The City Attorney is hereby directed pursuant to
8 Section 5011 of the Elections Code of California to prepare an
9 impartial analysis (not to exceed 500 words) of each proposition
10 showing its operation and the effect of such proposition on
11 existing law.
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4.
The City Clerk is hereby directed to print the analysis
13 prepared by the City Attorney along with the arguments for and
14 against each proposition to be submitted to the qualified voters
15 of the City, said analysis to precede such arguments.
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5.
This resolution shall take effect immediately.
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ADOPTED, this 6th
day of May, 1986.
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22 ATTEST:
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26 Bruce V. Malkenhorst
City Clerk
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