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1982-406 RESOLUTION NO. 82R-406 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~November 2, 1982, 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 obli- gation of the City. 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 proposition 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 rev- enues and which shall not constitute a general obli- gation of the City for the establishment of a fund or funds, for the maintaining of adequate rates or charges, for restrictions upon further indebtedness payable out of the same fund or revenues, for re- strictions upon transfer out of such fund, and other appropriate covenants. Money placed in any such special fund for the payment of principal and/or in- terest 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 estab- lished 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 for its establishment shall have been fully accomplished. -1- Notwithstanding the foregoing, the City may sell and issue at any time and from time to time revenue bond anticipation notes (including renewal revenue bond anticipation notes) in anticipa- tion of the revenue bonds authorized by the voters on June 2, 1981; provided that the aggregate principal amount of such revenue bond anticipation notes and revenue bonds outstanding in accordance with their terms at anyone time shall not exceed $92 million. Such revenue bond anticipation notes may be sold, issued and secured in such manner and subject to such terms and conditions as the City Council may pre- scribe by ordinance; provided that such revenue bond anticipation notes shall not constitute an indebted- ness or general obligation of the City of Anaheim and are not to be secured by the taxing power of said City. Notwithstanding the foregoing, the City may also sell and issue at any time and from time to time revenue bond anticipation notes (including renewal revenue bond anticipation notes) in anticipation of any electric or water revenue bonds heretofore or hereafter authorized by the voters; provided that (i) the aggregate principal amount of such electric revenue bond anticipation notes and the electric revenue bonds in anticipation of which such electric revenue bond anticipation notes were issued outstanding in accordance with their terms at anyone time shall not exceed the principal amount of such electric revenue bonds auth- orized by the voters and (ii) the aggregate principal amount of such water revenue bond anticipation notes and the water revenue bonds in anticipation of which such water revenue bond anticipation notes were issued outstanding in accordance with their terms at anyone time shall not exceed the prinCipal amount of such water revenue bonds authorized by the voters. Such revenue bond anticipation notes may be SOld, issued and secured in such manner and subject to such terms and conditions as the City Council may pre- scribe by ordinance; provided that such revenue bond anticipation notes shall not constitute an indebted- ness or general obligation of the City of Anaheim and are not to be secured by the taxing power of said City. Notwithstanding the foregoing, the City may also sell and issue at any time and from time to time revenue anticipation notes (including renewal revenue anticipation notes) in anticipation of the receipt of revenues of the City's water and -2- . -. ..... ----._....II_...~,... .............. ..............,......-.... . ._~: . ...--.......-.h... ~....=--"~~........~.........,.......:iIhI......__...._....~.c.:_........_. electric utilities; provided that Fhe aggregate prin- cipal amount of such revenue anticipation notes out- standing in accordance with their terms at anyone time shall not exceed, for each of such utilities, an amount equal to 25% of the gross revenue earned by the respective utility during the immediately pre- ceding fiscal year as set forth in the audited financial statements of such utility for such year. Such revenue anticipation notes may be sold, issued, and secured in such manner and subject to such terms and conditions as the City Council may prescribe by ordinance; provided that such revenue anticipation notes shall not constitute an indebtedness or general obligation of the City of Anaheim and are not to be secured by the taxing power of said City. 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 DON R. ROTH, MAYOR BEN BAY, MAYOR PRO TEM MIRIAM KAYWOOD E. LLEWELLYN OVERHOLT, JR. IRV PICKLER members of said body, to file a written argument for the City mea- sure 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. SECTION 2. That this City Council, being the legislative body of the City of Anaheim, hereby authorizes NO member 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. -3- ... .~....- ~...__.- -:-.-'.~:-''::;' ..,;~,;.~.-.otoflol-~.........~...,~..~.t.'"'__ ~.~....-...~....-t~.....-=...............___.:...............,..~....-.-.~._~. THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim this 3rd day of August, 1982. A,,//~ ~ MAYOR OF THE CITY OF ANAHEIM ATTEST: ~~~ CITY CLERK OF THE C OF ANAHEIM JLW : fro 0039M -4- 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. 82R-406 was introduced and adopted at a regular meeting provided by law, of the City Council of the City of Anaheim held on the 3rd day of August, 1982, by the following vote of the members thereof: AYES: COUNCIL MEMBERS: Kaywood, Pickler, Overholt, Bay and Roth NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None AND I FURTHER certify that the Mayor of the City of Anaheim signed said Resolution No. 82R-406 on the 3rd day of August, 1982. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the City of Anaheim this 3rd day of August, 1982. ~J.)~ CITY C ERK OF THE CIT 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. 82R-406 duly passed and adopted by the Anaheim City Council on August 3, 1982. ~-L1J~ . CITY CLERK '-'.