HomeMy WebLinkAbout2004-057I
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RESOLUTION NO. 2004-57
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO IN SUPPORT OF PROPOSITION 57, THE ECONOMIC RECOVERY
BOND ACT, AND PROPOSITION 58, THE BALANCED BUDGET ACT.
Whereas, the State of California's General Fund revenues grew dramatically in the
latter half of the 1990's, particularly in the amount of personal income tax revenues generated
as a result of the stock market boom and the taxes paid on stock -option earnings; and
Whereas, the stock -option revenue should have been viewed as `one-time" revenue and
not spent on ongoing liabilities; and
Whereas, when the "dot-com bubble" burst, revenues went into steep decline and
created what is known today as "the structural imbalance"; and
Whereas, even with billions of dollars of cuts to State and local programs to cope with
the State's $38 billion deficit last year, the State budget faces another major shortfall in 2004-
05; and
Whereas, Governor Schwarzenegger has developed an Economic Recovery Work -Out
plan for the State Budget; and
Whereas, the recovery plan consists of the following: an Economic Recovery Bond Act
to refinance a portion of the inherited debt, a proposed budget that moves toward structural
balance, and a constitutional amendment to require balanced budgets with a prudent reserve;
and
Whereas, these measures are embodied in Propositions 57 and 58 as they appear on the
March 2, 2004 state-wide ballot; and
Whereas, The City of San Bernardino should continue to oppose any raid on local
government revenues but also support the propositions put forward by the Governor to set
California on a path to economic recovery.
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and Common Council of
the City of San Bernardino hereby supports the passage of Propositions 57 and 58 and
encourages all citizens to support them as well.
BE IT FURTHER RESOLVED that this resolution be noted in the minutes of this
Council and that a copy by forwarded to Governor Schwarzenegger, the Speaker of the
Assembly, the President Pro-Tem of the State Senate, the San Bernardino County Board of
Supervisors, and the League of California Cities.
2004-57
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO IN SUPPORT OF PROPOSITION 57, THE ECONOMIC RECOVERY
BOND ACT, AND PROPOSITION 58, THE BALANCED BUDGET ACT.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor
and Common Council of the City of San Bernardino at a j t. reg. meeting thereof, held on
the 17t1yay of February , 2004, by the following vote, to wit:
Council Members: AYES NAYS ABSTAIN ABSENT
ESTRADA x
LONGVILLE x
MC GINNIS x
DERRY x
SUAREZ x
ANDERSON x
MCCAMMACK x
Rachel Clark, City Clerk
The foregoing resolution is hereby approved this I Tit _ day of February 2004.
Approved as to
Form and legal content:
JAMES F. PENMAN,
City ttorney
By:
falles, Mayor
San Bernardino