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ORDINANCE NO. 419
AN URGENCY ORDINANCE OF THE CITY COUNCIL
OF THE CITY OF IRWINDALE, CALIFORNIA, REGARDING
THE FINANCING OF CERTAIN CAPITAL IMPROVEMENT
PROJECTS WITHIN THE CITY OF IRWINDALE, CALIFORNIA,
IN ACCORDANCE WITH SECTION 43608 OF THE GOVERNMENT
CODE CONCERNING GENERAL OBLIGATION BONDS
THE CITY COUNCIL OF THE CITY OF IRWINDALE, CALIFORNIA,
DOES ORDAIN AS FOLLOWS:
SECTION 1. The City of Irwindale, California (the
"City"), is a municipal corporation and a charter city duly
organized and existing under and pursuant to a City Charter
(the "City Charter") and the Constitution and the laws of the
State of California. By adoption of its Resolution No.
87-12-1114 on July 30, 1987 (the "Resolution"), the City
Council of the City of Irwindale, California (the "City
Council"), has previously undertaken actions preparatory of the
incurring of certain obligations in connection with the
acquisition or improvement of real property and the
construction, financing and acquisition of certain capital
improvements within the City (the "Project"). It is desirable
at this time that the City Council approve an Ordinance as
authorized by Section 43608 of the Government Code (the "Act")
to issue and sell general obligation bonds to raise money for
the Project (the "Bond Program"). Sections 43610 and 43610.1
of the Act set forth the contents to be included in this
Ordinance. The City Council deems it desirable to consider the
Ordinance ordering the submission of the ballot measure of
incurring a bonded debt for the purpose set forth in the
Resolution to the qualified voters of the City at an election
to be held for that purpose.
SECTION 2. The object and purpose of incurring the
indebtedness is for the acquisition, construction and
development of the Project.
SECTION 3. The estimated cost of the Project is Ten
Million Nine Hundred Eighty Thousand Dollars ($10,980,000).
SECTION 4. The principal amount of the indebtedness is
not to exceed Twelve Million Dollars ($12,000,000).
SECTION 5. As provided in Section 53531 of the Act, the
maximum rate of interest on the bonds shall not exceed twelve
percent (12%). Said interest shall be payable semiannually
except that interest for the first year after the date of the
bonds may be made payable at the end of said year.
SECTION 6. The election shall be held on November 3,
1987. By adoption of the Resolution, the City Council has
previously requested that the Board of Supervisors of the
County of Los Angeles (the "Board of Supervisors") consolidate
said election with the community college district and school
district election to be held on said date. The County of Los
Angeles (the "County") is hereby requested to call said
election on said date, and is further requested to take all
actions that may be required by the laws of the State of
California to submit to the electors of the City the following
bond measure:
CITY OF IRWINDALE, CALIFORNIA,
SHALL the City of Irwindale, California,
incur a bonded indebtedness in the sum not to
exceed $12,000,000 for the purpose of raising
money for the following purposes, including, but
not limited to, the acquisition and improvement
of real property and the acquisition,
construction and completion of certain public
improvements within the City?
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ORDINANCE NO. 419
By adoption of this Ordinance, the measure as described in
Section 5 of the Resolution is amended to conform to the bond
measure described in this Section 6.
SECTION 7. By adoption of the Resolution, the City
Council has previously requested the County to authorize the
County Registrar of Voters to hold the election. The City
Council also hereby requests and authorizes the Board of
Supervisors to canvass the ballots pursuant to Section 23306 of
the Elections Code.
SECTION 8. The total principal amount of the bonds is not
to exceed Twelve Million Dollars ($12,000,000). Legal or other
fees incidental to or connected with the authorization,
issuance and sale of the bonds is presently estimated to be
P Four Hundred Eighty Thousand Dollars ($480,000). The cost of
printing the bonds and other costs and expenses incidental or
connected with the authorization, issuance and sale of the
bonds is presently estimated to be Sixty Thousand Dollars
($60,000).
SECTION 9. In accordance with Section 5013 of the
Elections Code, arguments may be filed for and/or against the
ballot measure, and in accordance with Section 5016 of the
Elections Code, the City Clerk shall select one of the
arguments in favor and one of the arguments against the measure
for printing and distribution. The City Clerk shall give
preference and priority in the following sequence:
A. The legislative body or any member thereof as
authorized;
B. Individual property owners or bona fide association
of property owners or combinations of property owners and
associations who are the bona fide sponsors or proponents of
the measure;
C. Bona fide associations of property owners; and
D. Individual property owners who are eligible to vote
on the measure.
SECTION 10. By adoption of the Resolution, the City
Attorney has previously been directed to prepare an impartial
analysis on the combined ballot proposition and file it with
the City Clerk. In accordance with Section 5011 of the
Elections Code, such analysis shall show the effect of the bond
measure on the existing law and the general operation of the
proposed bond measure.
SECTION 11. (a) That notice is hereby given that written
arguments, not to exceed three hundred (300) words in length,
for or against the measure, shall be filed not later than 5:00
P.M. on August'12, 1987, at the Office of the City Clerk.
(b) That any argument submitted for or against the measure
shall be accompanied by a statement set forth in Section 5350
of the Elections Code, signed and completed by the author of
such argument.
SECTION 12. That if any person submits an argument
against the bond measure as set forth herein, and an argument
has been filed in favor of the bond measure, the City Clerk
shall then immediately sent a copy of that argument to the
person filing the argument in favor of said bond measure. The
person filing the argument in favor of the bond measure may
prepare and submit a rebuttal argument not to exceed two
hundred fifty (250) words. If any person submits an argument
for the bond measure as set forth herein, and an argument has
been filed against the bond measure as set forth herein, the
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ORDINANCE NO. 419
City Clerk shall then send copies of the argument in favor of
the bond measure to the person filing an argument against said
bond measure who then may prepare and submit a rebuttal
argument to the argument in favor of the bond measure, such
rebuttal argument not to exceed two hundred fifty (250) words.
The rebuttal arguments shall be filed with the City Clerk not
more than ten (10) days after the final date for filing the
direct argument. Rebuttal arguments shall be printed in the
same manner as direct arguments and each rebuttal argument
shall immediately follow the direct argument which it seeks to
rebut.
SECTION 13. This right of rebuttal, as provided by this
Ordinance, is applicable only to the bond measure relating to
this election, and shall not apply to any future City elections.
SECTION 14. That the City Clerk is hereby ordered to
certify to the passage of this Ordinance and to file a
certified copy thereof with the County Registrar of Voters, and
shall cause this Ordinance to be published once a day for each
day from August 11 to August 18 inclusive, in the San Gabriel
Valley Tribune.
SECTION 15. That the City Clerk is hereby ordered to
prepare a synopsis of the bond measure and publish a notice
thereof# in accordance with Section 22835 of the Elections
Code. Said notice shall constitute the notice of bond election
and notice of measure.
SECTION 16. This Ordinance shall take effect immediately
upon introduction and adoption as an urgency ordinance pursuant
to California law. The City Council hereby finds that the
adoption of this Ordinance as an urgency ordinance is necessary
for the immediate preservation of the public peace, health or
safety in that it is necessary to cause the election to be held
on November 3, 1987, in connection with the above -referenced
bond measure, to be consolidated with the community college
district and school district election to be held on said date.
In order for the bond measure to consolidated, this Ordinance
must be effective and published in accordance with the
provisions hereinabove as expeditiously as possible. The City
has been provided with a unique financing opportunity at this
time to issue general obligation bonds pursuant to the Bond
Program. The City has previously issued the $102,350,000 City
of Irwindale, California, Capital Improvement Revenue Bonds,
Series 1987 A (the "Series A Bonds"). Although the proceeds of
the Series A Bonds are available for use by the City to finance
the cost of certain public improvements, the intended use of
the proceeds of the Series A Bonds is to finance the cost of
public improvements primarily located within the redevelopment
project area of the Irwindale Community Redevelopment Agency
(the "Agency"). It is intended that the proceeds of the
general obligation bonds issued pursuant to the Bond Program be
used to finance the cost of public improvements located within
the City and within the redevelopment project area and to
provide for the coordinated and orderly implementation of the
intended public improvements. In particular, the City
presently has a readily available source of financing by
issuing general obligation bonds issued pursuant to the Bond
Program and this type of general obligation bond financing may
not necessarily be available subsequent to December 31,1987.
The bond proceeds of such general obligation bonds are
necessary to fill a gap in the public improvement financing
plan of the City as shall be coordinated with the financing
plan of the Agency to be undertaken with the proceeds of the
Series A Bonds. It is therefore imperative that this bond
measure be consolidated with the November 3, 1987 election and
ORDINANCE NO. 419
if successful, to issue bonds prior to December 31, 1987. It
is necessary to adopt this Ordinance as an urgency ordinance in
order to achieve the foregoing benefits in furtherance of the
public health, safety and welfare and to avoid a delay which
would otherwise result from the approval of this Ordinance as
other than an urgency ordinance.
APPROVED and ADOPTED THIS 3rd day of August, 1987.
Arthur Ft. Tapia, Mayor
ATTEST:
IIeputy City Clerk
L��
I hereby certify that the foregoing urgency ordinance,
being Ordinance No. 419 was introduced as an urgency ordinance
at a special meeting of the City Council of the City of
Irwindale, held on the 3rd day of August, 1987, and was duly
passed, approved and adopted by said Council, approved and
signed by the Mayor and attested by the Deputy City Clerk by
the following vote of the Council:
AYES: Councilmen: J. Breceda, R. Diaz, P. Miranda, J.
Castellanos and Mayor A. Tapia
NOES: Councilmen: None
ABSENT: Councilmen: None
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