86R-222
RESOLUTION NO. 86R- 222
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM SUPPORTING PROPOSITION NO.46: RESTORATION
OF GENERAL OBLIGATION BOND AUTHORITY TO THE VOTERS
WHEREAS, general obligation bonds are the least expensive
form of borrowing available to local government agencies; and
WHEREAS, taxpayers can generally expect to save on
interest rates when general obligation bonds are issued, rather
than revenue bonds; and
WHEREAS, the Constitution of the State of California.
currently prohibits the voters from approving the use of general
obligation bonds; and
WHEREAS, the voters are prohibited by the State
Constitution from approving an increase in their own property
taxes to finance construction on capital projects and
improvements; and
WHEREAS, the people should have the right to use the
least expensive form of financing available; and
WHEREAS, Proposition No.46 would permit the use of
general obligation bonds for the acquisition and improvement of
real property only; and
WHEREAS, Proposition No.46 would require a two-thirds
vote of the people in a subsequent election to approve any
increase in their local property taxes.
NOW THEREFORE BE IT RESOLVED, that the City Council of
the City of Anaheim does hereby support Proposition No.46, which
will allow the citizens to determine any future increases in their
local property taxes to finance public construction projects as
needed by the community.
THE FOREGOING RESOLUTION is approved and adopted this 27th
May , 1986.
day of
A4
MAYOR OF THE CI Y
ATTEST: ;J( ~
~~ THE CIT~ ANAHEIM
ROF : 1m
4738U/051286
CLERK
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) S8.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 86R-222 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 27th day of May, 1986, by the following vote of the members thereof:
-.
AYES:
COUNCIL MEMBERS: Kaywood, Overholt, Bay, Pickler 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. 86R-222 on the 27th day of May, 1986.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 27th day of May, 1986.
~'- /tSd
CITY CLERK OF THE CITY OF ANAHEIM
(SEAL)
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 86R-222 duly passed and
adopted by the Anaheim City Council on May 27, 1986.
~~ 21~
'tITY CLERK