70R-118
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) s s .
CITY OF ANAHEIM )
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I, DENE M. WILLIAMS, City Clerk of the City of Anaheim, do
hereby certify that the foregoing Resolution No. 70R-1IS was intro-
duced and adopted at a regular meeting provided by law, of the City
Council of the City of Anaheim, held on the 3rd day of March, 1970,
by the following vote of the members thereof:
AYES: COUNCILMEN: Dutton, Krein, Svhutte, Pebley and Clark
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim
approved and signed said Resolution No. 70R-U8 on the 3rd day of March,
1970.
the
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
official seal of tEO;h;~d~~:~f March, 1970.
CITY CLERK OF THE CITY OF ANAHEIM
(SEAL)
I, DENE M. WILLIAMS, City Clerk of the City of Anahei~,
do hereby certify that the foregoing is the original of Resolution
No. 70R-118 duly passed and adopted by the Anaheim City Council on
March 3, 1970.
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City Clerk
u1eu,:q sn~
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RESOLUTION NO. 70R-118
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM SUPPORTING PROPOSITION 7 AT THE JUNE
STATE PRI~RY ELECTION, 1970, REGARDING THE SALE
OF STATE GENERAL OBLIGATION BONDS.
WHEREAS, in connection with the financing of and the
sale of bonds previously issued in such important State projects
as the State Water project, it has become impossible to sell State
of California General Obligation Bonds because of the interest
rate restriction of five per cent; and
WHEREAS, the City Council finds that it is in the best
interests of the City of Anaheim and of the State of California to
uphold and support Proposition 7 on the State Primary Ballot on
June 2, 1970, because it raises the maximum interest rate from
five per cent to seven per cent on general obligation bonds of the
State already authorized and enables a further increase in maximum
interest rate upon two-thirds vote of the Legislature; and
WHEREAS, m4ny worthy and necessary projects will have to
be abandoned if the five per cent interest rate remains frozen.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Anaheim that it support and it does hereby support an
affirmative vote on Proposition 7 as the same appears upon the
State Primary Election, 1970, as the same enables an increase in
the maximum interest rate on general obligation bonds of the State
already authorized to seven per cent.
THE FOREGOING RESOLUTION is approved and signed by me
this 3rd day of March, 1970.
ATTEST:
~ ~.~o:~-
CI CLERK OF THE CIT OF ANAHEIM
JHD/ms-3-17-70
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