80R-098
RESOLUTION NO. 80R-98
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM AUTHORIZING CERTAIN OF ITS MEMBERS
TO FILE A WRITTEN ARGUMENT FOR AND AGAINST A
PROPOSED AMENDMENT TO SECTION 1210 OF THE
CHARTER OF THE CITY OF ANAHEIM.
WHEREAS, a special municipal election is to be
held in the City of Anaheim on June 3, 1980, at which
there will be submitted to the qualified electors of the
City the following proposed amendment to the Charter of
said City:
PROPOSED CHARTER AMENDMENT
It is proposed that Section 1210 of the Charter of
the City of Anaheim be amended to read as follows:
Section 1210. REVENUE BONDS.
Bonds which are payable only out of such revenues
as may be specified in such bonds may be issued when
the City Council by ordinance shall have established a
procedure for the issuance of such bonds. Such bonds,
payable only out of revenues, shall not constitute an
indebtedness or general obligation of the City. Except
as provided in Section 1210.1, no such bonds payable
out of revenues shall be issued without the assent of a
majority of the voters voting upon the proposition for
issuing the same at an election at which such proposi-
tion shall have been duly submitted to the qualified
electors of the City.
It shall be competent for the City to make
contracts and covenants for the benefit of the holders
of any such bonds payable only from revenues and which
shall not constitute a general obligation of the City
for the establishment of a fund or funds, for the main-
taining of adequate rates or charges, for restrictions
upon further indebtedness payable out of the same fund
or revenues, for restrictions upon transfer out of such
fund, and other appropriate covenants. Money placed in
any such special fund for the payment of principal and/
or interest on any issue of such bonds or to assure the
application thereof to a specific purpose shall not be
expended for any other purpose whatever except for the
purpose for which such special fund was established and
shall be deemed segregated from all other funds of the
City and reserved exclusively for the purpose for which
such special fund was established until the purpose of
its establishment shall have been fully accomplished.
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Nothing contained in this Section 1210 shall limit
the power of the City to borrow money in anticipation
of the sale and issue of revenue bonds which have been
duly authorized hereunder, in a sum not in excess of
the principal amount of said bonds. For that purpose,
the City may sell and issue negotiable revenue bond
anticipation notes in such manner and subject to such
terms and conditions as the City Council may prescribe
by ordinance.
Section 1210.1. REFUNDING REVENUE BONDS.
(a) Refunding bonds may be issued to purchase,
redeem or retire any revenue bond anticipation notes
heretofore or hereafter issued pursuant to Section 1210.
(b) Refunding bonds may be issued to purchase,
redeem or retire any bonds heretofore or hereafter
issued pursuant to Section 1210 or this Section 1210.1,
whenever the City Council determines that (1) the true
interest cost to maturity on such refunding bonds is
less than the true interest cost to maturity on the
bonds to be refunded, or (2) issuance of the refunding
bonds will remove or mitigate restrictive contractual
limitations pertaining to the bonds to be refunded.
The last maturity of any issue of refunding bonds issued
under this paragraph (b) shall be no later than the last
maturity of the issue or issues of bonds to be refunded.
All provisions of Section 1210 are applicable to
refunding bonds, except that no additional election
shall be required to authorize their issuance.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
ANAHEIM DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1.
That this City Council, being the legislative body
of the City of Anaheim, hereby authorizes
Mayor John Seymour
Mayor Pro Tem E. Llewellyn Overholt, Jr.
Council Member Miriam Kaywood
Council Member Ben Bay
Council Member Don R. Roth
members of said body, to file a written argument for the
City measure set forth in the recitals hereof in accordance
with Section 5013 of the Elections Code of the State of
California and to change said argument until and including
the date fixed by the City Clerk after which no arguments
for or against said measure may be submitted.
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SECTION 2.
That this City Council, being the legislative
body of the City of Anaheim, hereby authorizes
None
members of said body, to file a written argument against
the City measure set forth in the recitals hereof in
accordance with Section 5013 of the Elections code of the
State of California and to change said argument until and
including the date fixed by the City Clerk after which no
arguments for or against said measure may be submitted.
THE FOREGOING RESOLUTION is approved and adopted
by the City Counc il of the City of Anahe im th is 11th day of
March, 1980.
ATTEST:
c~~d:~u:~ ANAHEIM
RO F : j h
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 80R-98 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 11th day of March, 1980, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Overholt, Kaywood, Bay, Roth and Seymour
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said
Resolution No. 80R~98 on the 11th day of March, 1980.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 11th day of March, 1980.
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CITYERK OF THE CITY- OF ANAHEIM
(SEAL)
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 80R-98 duly passed and adopted
by the Anaheim City Council on March 11, 1980.
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CI TY CLERK
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