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Home My WebLink About01-Blue Ribbon Committe CI~" OF .8AN BERNA.fdINO - o REQUEST FOR COUNCIL ACTION From: 8~vard Wheeler, Chairman General Obligation Bond Blue Ribbon Co..ittee Su~: Report fro. General Obligation Bond Blue Ribbon Co..ittee ...~: Olte: May 1, 1989 Synopsis of Pnvious CouncillCtion: May 31, 1988 June 21, 1988 - July 18, 1988 - Dec. 5, 1988 Feb. 20, 1989 - Fo~tion of General Bond Co..ittee was approved. Selection of Co..ittee .e.oers. General Obligation Bond Co..ittee presented reco...ndations to Mayor and Council. Mayor and Council approved reconvening of General Obligation Bond Co..ittee in January 1989 and the re.aval of Council me~rs fro. appoint..nt to the Co..ittee. General Obligation Bond Co..ittee directed to continue to evaluate financing ..chanisms for funding capital i.prove..nt needs with the intent of reco..ending a general obligation bond issue on an upco.ing ballot. Recommended motion: 1. The General Obligation Bond Blue Ribbon Co..ittee reco...nds that the Mayor and Co~n Council place on the Roveaber 1989 ballot a general obligation bond issue in the a.aunt of $32,690,000. for the following proposals: 1. Police facilities $20,000,000 2. Transportation i.prove..nts $8,560,000 3. Park improvements and facilities $4,130,000 ~~//fil!:.#I' Phone: 5122 Conu~~r~n: Bdward Wheeler/Fred Wilson Supporting data attached: Ward: All Yes Amount: FUNDING REQUIREMENTS: Source: IAcct. No.1 IAcct. Oescriotionl Finance: "incil Notes: I CITY OF SAN aRNA.QINO o .. ".QUI!ST FOR COUNCIL ACTION STAFF REPORT The General obligation Bond Blue Ribbon Committee reconvened on February 2, 1989 pursuant to Mayor and council direction to begin to evaluate options for financing the capital improvement needs previously identified. As you may recall, the General obligation Bond Committee submitted a report to the Mayor and Common council in July 1988 recommending that a General Obligation Bond Issue in the amount of $48,000,000 be placed on the November 1988 ballot. The action taken by the Mayor and Council at that time was to deny that recommendation and to refer the study back to the Committee for further analysis. The General Obligation Bond Committee has held numerous meetings since February 2, 1989 to discuss the project listing as well as alternate funding sources which could be used to reduce the amount of a General Obligation Bond Issue. Based on these discussions, the attached revised listing of projects is being recommended by the General Obligation Bond Committee for inclusion in a General Obligation Bond Issue. It was further recommended by the Committee that. the proposed General Obligation Bond Issue be submitted to the voters through the following three programs: 1. Police facilities 2. Transportation improvements 3. Park improvements and facilities The Committee also recommended that the G.O. Bond proposal be included on the November 1989 election ballot. If the Mayor and Common Council approve the recommendation to place the General Obligation Bond Issue on the November ballot, Bond Counsel Services will be needed to prepare the appropriate ordinances and resolutions. It is anticipated that th~ cost of retaining legal services would be approximately $5,000. A timeframe will also be prepared indicating the deadlines for meeting the legal requirements associated with placing this measure on the November ballot. Edward Wheeler, Chairman General Obligation Bond Blue Ribbon Committee EW/sh Attachment o o .... '" V1 ... ...... '" ... Z . 0 ::0 0 3: en>>:c >>'" >>3: >>3: enen~ =~ ID<rt' ....<<.... <<rt' <<.... < < joO. rt'rt'1>> 01>> '0 ID . oQ ID ID oQ IDID:r IDID... IDID... '1'1rt' tIlrt' ...'1 :s:s:s:r :s :s ::s:s... :s:s... 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'" U1 0 tllt1 Il) wO -J '" '" 0 o ~ 0 00 0 0 0 0.. ::so. . . . . 0. 0 00 0 0 0 0 en.... 0 00 0 0 0 0 t1 ~ """" '" 0 0 0 '" o o G.O.BOND COMMITTEE HIHY:Ii~ April 14, 1989 MBJIBIU PRBSBIIT: Edward Wheeler, 2nd Ward: Bill Heitritter, Mayor: Wade Byars, 3rd Ward: John Lightburn, 1st Ward: Geneva Woods, 7th Ward OTBBU PRBSBIIT: Jim Robbins, Acting city Administrator: Fred Wilson, Assistant to City Administrator: John Wilson, Deputy City Attorney: Craig Graves, city Treasurer: Marilyn Dixon, Executive Secretary ----------------------------------------------------------- The purpose of this meeting was to finalize the proposed list of projects recommended for G. O. Bond financing to be submitted to Council for their approval and to discuss the strategy for placing the measure on the ballot. Chairman Wheeler felt the list still contained too many projects and that money was sufficiently "tight" in the City of San Bernardino that the voters would not support an increase in property tax unless they really felt the project would be of major benefit. Mr. Lightburn pared down and Police Station disagreed say~n~ the list was SUfficiently felt the rema1n1ng projects especially the could be sold. Geneva Woods expressed doubt as to the police facility for $20 million. facility going to stop crime, drugs, that it would be a de-centralized police services throughout the entire ability to sell a new How is a costly new etc. It was explained facility improving the city. The question of how specific the language should be on the ballot measure was discussed at great length. Mr. Lightburn was in favor of asking the voters to authorize just a specific sum of money without earmarking it for specific project improvements. Mr. Wheeler disagreed favoring the approach of earmarking so many dollars for a specific project. Jim Robbins suggested we follow the example of phoenix who has had success with their bond proposals. They took 17 separate issues but did not allocate specific sums to each project: rather, they tied $12 million to water facilities: $4 million to park improvements, etc. city Treasurer Craig Graves felt the average citizen would not understand nor approve money going Q "interconnect He recommended splitting up the categories: o signals", for instance. projects into three 1. Public Safety 2 . Parks 3. str..ts In response to a question from felt that any other source of been exhausted. Bill Heitritter, craig Graves funds for these projects has MOTION: That the Committee recommends to the Mayor and City Council an amount of $32 million dollars in terms of three bond proposals: a. Police facilities b. Transportation needs c. Park improvements and facilities. Moved by: John Lightburn Seconded by: Geneva Woods A discussion ensued with over to Mr. Robbins so alternate motion: Mr. Wheeler turning the chairmanship that Mr. Wheeler could make an MOTION: That item *2, 3, 4 and 5 be deleted from the list of projects included in the bond proposal. The motion died for lack of a second. Mr. Wheeler reassumed the Chairmanship. The first motion was then unanimously approved. Jim Robbins discussed the marketing of this proposal and what should the Committee's function be in this segment. He further suggested the Committee recommend a date for our recommendation to go to City Council as well as a ballot date for the proposal to go to the voters. John Lightburn felt the ballot measure election date should be a decision of the Mayor and Council. Bill Heitritter agreed and felt that as a Committee, we have completed our charge as directed and the selection of a date as well as the marketing and/or education of the proposal should be up to the Council. Mr. Wheeler felt strongly that we should at least recommend a date to Council as part of our task so the following motion was made: MOTION: That the recommended proposed G. to Council o. Bond proposal be for inclusion on the November 1~9 School Board Election. C) Moved by: John Liqhtburn Seconded by: Geneva Woods The motion was unanimously approved. IIOUO.. That the Committee's recommendation to Council be placed upon the Aqenda for the May 15, 1989 Council Meetinq. Moved by: Bill Heitritter Seconded by: Geneva Woods The motion was unanimously approved. It was the consensus of those present not to dissolve as a Committee until specific direction is received by Council at the May 15 Council Meetinq. There beinq no further business, the meetinq was adjourned. at 10:10 a.m. Respectfully submitted: ~~Q~ ~YN DIXON Executive Secretary Imd C I T Y 0'1 SAN B ERN A R D I INTEROFFICE MEMORANDUM 8906-901 o N 0 FROM: Ways and Means cODllllittee Fred A. Wilson, Assistant to the city ~ Administrator i TO: SUBJECT: Proposed General obligation Bond Issue DATE: June 9, 1989 COPIES: Marshall Julian, James E. Robbins ------------------------------------------------------------- In addition to the attached staff report from the General obligation Bond Blue Ribbon cODllllittee, the following information has also been provided for the Ways and Means CODllllittee: 1. Timetable for Placina a Bond Issue on Nov~mher 7. 1989 Ballot Although this attached timetable indicates that August 3, 1989 is the first key date for Council action, discussions with the Registrar of Voters indicates that in order to meet the requirements for publication of arguments, July 25 is the final date for Council approval of all necessary ordinances and resolutions. Bond Counsel has indicated that they require approximately two weeks to prepare the necessary documents for Council approval. These deadlines limit the Mayor and Council to making a decision on proceeding with such an issue to the week of July 3, 1989. 2. ProDosed Gas Tax Increase According to the League of California cities, discussions are currently ongoing relative to the feasibility of a gas tax increase. It has been recoDllllended that the current 9 cents gas tax be increased by 5 cents on January 1, 1990 with each year, for the following 4 years, increasing the gas tax by 1 cent bringing the total increase to 9 cents. It has been estimated that this would produce approximately $13.5 billion over the 10 year period. The proposed formula for expending these funds includes, among other things, local government being allocated $3 billion. Using the proposed formula, this would generate approximately $935,000 annually for San Bernardino over a 10-year period. In addition, there is also a proposal to set aside $2 billion of these funds as a matching program for local government. This transportation finance proposal is still being discussed in Sacramento and it is not presently known if this item will be on INTEROFFICE MEMORANDuJC) 8906-901 Proposed General Obligation Bond Issue June 9, 1989 Page 2 o the November 1989 ballot or June 1990 ballot. 3. SANBAG ProDosed Sales Tax proaram The SANBAG Board has discussed the feasibility of seeking voter approval on a half cent sales tax increase on the November 1989 ballot. The proposed sales tax proqram is provided as an attachment. As noted on this program, approximately $275 million will be allocated to cities for local projects on a per capita basis over the life of the proqram which is projected to be 20 years. In addition, SANBAG is recommending that $150 million be allocated for an arterial proqram. The allocation formula for this proqram has not been finalized although it is anticipated that funding will be allocated in a manner similar to the FAU process. SANBAG is currently conducting a survey which is projected to be completed by the end of June to determine voter acceptability of a half cent sales tax increase. D Ii. WILSON Assistant to the City Administrator FAWjsh Attachment XERu^ T~Lc~u~l~k ~~~ 1<)0,/1'1/1'01:>'0 11:0,'1 . r Ul<il<ilCK H~l<il<ilNLiIUN L.H. 0' '",I....I I ,.JJ "7 , ~ L d.101:>1<)4bl::ll::l t-'.l::Id. Mly 1. 1981* OUTLINE AND TIMETABLE FOR PLACING A CITY "DAL OBLIGATION BONO ISSUE ON JUtfI! 8, 1881 OR NOYBBER 7. 1881 BALLOTS AND ISSU I NG G!ll!RAl OIL I GAT ION IOND8 FOLLOW I NG A SUCCESSFUL ELECT I ON Statutory provi.iona authorizing the i.suance of City general obliqation bondl are found in the Goverllllllnt Code. Statutory provisions qovemilllJ tlw conduct of City general obliqation bond alections are found in the Election Code. J\D1e 6, 1989 . Blec~ion 1. ~ot later than I5arch 3, 1989 [This date lllU.t be .et to allow for .uffichnt ti... tor the adoption of the ordinance de.cribed in nwaber 3.] I: BOND ELECTION Nove~er 7, 1989 Ehction Not later than Auqult 3, 1989 [rhi. data lllU.t be set to aUow for .ufficient time for the adoption of the ordinance deacribed in number 3.] Re.olution Initiatinq Bond Election Proc..d.inqs Bond election proceedinq. are be;un when two-thirds of the City CouJ\CU (or other leqi.lative body) pas. a re.olution determining that the public intere.t and/or nlcl..ity dlmand. the acquisition, COIl.truction or completion of any m\D1icipal improvement. "M\D1icipal improvement" includes certain specified improvement. and "other work.. property or structures necessary or convenient to carry out the Object.. * Ph... note that thi. i. time dat.d information. rhi. outline should. not be relied upon after the date .t.ted above. Please contact an Orrick, Herrinqton & Sutcliffe public finance attorney regardinq applicable statutory updates. Copy,right Orrick, Herrill9ton & Sutcliffe. 1989 ~. XERO~ TELECOPIER 295 05/17/1989 . . June 6. 1989 .11ect40n 2. IIIot latu than March 3. 1989 [~hil date il ..t aa a reault of. the date in it8111 3.] 3. Not later than ICarch 10, 1989 [Thia date is the deadline for adoption of the rllolution requestilli consolidation of th. election. ~hat rllolution and this ordinance I1II.Ist b. adopt.d on thl Beml day. SI' n\llllber 4.. below. J ??-??-??:??:'7'? ??; 11:57 O~CK HERRINGTON L.A. Novuber 7. 1989 Election Not later than Auguet 3. 1989 [This dati is set as a result of thl dati in itlm 3.] Not later than August 8. 1989 [This date is the d.adline for adoption of thl rll01ution UCjlUe.tilli consolidation of th. 11Iction. That resolution and this ordinance I\IUS t be adopted on th. .... day. S.. numb.r 4. below. J CC I TT G3 + fI 3 o 680 4600 P.03 purpoSII, and powers of tl'll City. II Articl. XIIIA of the California ConltituUon (as amendad by Propodtion 46) further limits the 1.181 of bond proceede to acquisition or imprOVllllent of land and buil4illgl. Bond proc.ede will not be availabl, for furnishillis or equiplMtlt. Introduction of Ordinanc. At a r.gular meetilli of the City Council at lea.t 5 daYl blfor, such ordinance ia to b, voted 1IpOD, an ordinancl callinq for tl'll sul:a.i.lliOll of the general obliqation bond propoaition to the voterl muat b, introducld. Ordinance Callino Ellction An ordinance callilli the ellction IIIuat be passed by . I:wo-thi 1'41 vot, of the City Council at a regular meeti09 subseQUlnt to thl meeting where the r..01ution in item 1 ia palled. The ordinance will take efflct upon p&ssaqe. Th. ordinanc. must state all of the following: (a) the purpoal for is.uilli the bond.: (bl thl estimated cost of the public improvement ( s) ; (c) the principal amount of the propolld 1881.11: '^ 85/17/1989 ;' JUIle 15, 11189 B\_tlt:lfta 11:58 _.I.J I;! '_'j 7 ; ~ 4 ORR [CK HERR I NGTOI< L. A. o , :0 68121 46121121 P.12I4 .oveabIr 7, 1989 .1.~ioll (d) the ...~ rata of lat.rllt to be pallS (1lOt. t.o ROeK t.velve'perae.t), whioh 18 to be paid uuaaally \:JIe flut year u4 l.iuuall&lly \:JIerlaetlrl (e) thl date of the Illotlo., aa4 (f) the .uuaer of bol4i1l9 \:JIe eleOUoD (lDolu411l9 the hour the 1MI1l1 are to be opea) aD4 the prooedurl for wdll9 for or agai..t the propolltlo. (I.. .Wlber 5 I)elow). The ord~e IIIU allo Itat. that tII, e.t.imated 001t. Itatad therel. laalUOlI OOIt.. of GODltraot.loD perl64 lat. I'll' (l.f the iMprO_DU at. r"'lllll produeillq), leIJa!, pdadlll' u4 ..110ell_ou other fae.. !he enr 11 the. autborbe4 to .peDd bo.d proc.d. . fot thele purpOle.. Date ft~ BlectlaDl The electlo. mult be held OD .u e.tal)l18hed .lecdo. day UBl... the City is a chartaI' Citf vlt:J\ electioD dat'l lpecified ia itl chart.r. latablilhed eleetloD day. are (3 each yearla l(a). Thl .ecoud Tul.day 1110 Apdl (evID numbered yeatl)1 1(1)). the Unt TUlday aftat the first MoJlclay ia March (odd DlIIlI!lell'8d ye.n) I 2. The Unt 'rue.clay after t.he Unt MODday 1D JUD', and 3 XEROX TELECOPIER 295 05/17/1989 ;- :unl 6. 1989 ; !lllct~on 4. Mot l.tl~ than lIa~ch 10. 1989 -:":'-':"."_.1';-; ??:?? -~-.'; 11:58 ORc:5V HERRINGTON I I Novembe~ 7. 1989 E~.ction , , I Not later than AUgult 8. 1989 cellT OJ .; # 5 L.A. 06804600 P.05 3. Thl first Tuesday afte~ thl fi~.t Monday in Novembu. Manne~ of Holdinq the Ellction: If' the election is conlolidated with anothu .lecUon. the bond election ordiaance may provide that tha pr.cincts. polling placI.. and office~. of .l.ction .ball be thl .... as tholl ..t fo~th in the ordinanc. or notic. fo~ the Il.ction with Which the bond election 11 cOll8olidat.d. the bond el.ction ordinanc. must rlflr to the ordinance o~ notic' to which it ~efet'l .p.cifically. D.bt Limit: Th. principal alllOunt of the City'. g.neral obligation bonda cannot exceed in the ag9~89atl on.-quarter of 15% of the .......d value of all r.al and perlonal property in the City. Conlolidatinq an Election Th. election mav be conaolidated with any other .l.ction sch.dul.d for the same day and must be consolidated with a Itatewide election sch.duled for the aame day. Statewide .lectiona are held on the first TuesdaYI aft.r the fi~st Monday. in Jun. and November. ~..p.ctiv.ly. in even numbe~e4 year.. Consolidations are to be efflct.d by following Election Code Sectiona a3300 et .eq. To consolidate an Ilection with another local ellction. the City Council must adopt a r"olution AI:./"'O:I.JA j" t:..Li::.L.uP I E:R .295 U:,/l'(/1:<IO:< Jl.II\e 6, 1989 , Election ..../--;' ;"- 11: :,:< U~'~f H~~~ lNLi I UN i I I I Novtmb~r 7. 1989 Elrction , (,1.....1 fr 1:'3 -; # 6 L,H. C:Ob'dU 4bUU fo',Ub requesting cOnlolidation. Th. resolution requesting cOnlolidation mu.t be adopted at the SUI IlIIIUng where the ordinance callill9 the election i. palled. At the time of adoptiDg the consolidation relOlut101\. but at least B8 daY' before the election. the City Council must file copie. of the resolution reque.tin; contoUdttion (which mUlt contain thl lanquege of the ballot proposition) and the bond election ordinance with the governinq body of the judsdiction with which the election will be con.oUdeted. . For consolidation with a .1:.tlllida election. the county board of aup.rvilors is the governing body with which the resolution and ordinange mult be filed. . The county clerk should also r.ceive copies of the resolution and the ordinance. To effect the consolidation. the governing body of the jurisdiction with which the el.ction will be conlolidated. or the county board of supervisors. as applicable. must ord.r the consolidation. If a statewide special election is called less than 88 day. prior to the date of such speaial election. the City Council may call a Ip.cial election to be consolidat.d with the statewide special election if the call is issued within four days of the proclamation or the effective date of XEROX TELECOPIER 295 05/17/1989 June 6, 1989 !ll.ctjon 5. Flrst publication net later th8n April 14, 1989 6. [thil deadline <lepend. upon thl timl nl141d by the City Clerk to havI llhe argwnentl ~rintld.] ??-??-??;??:?? '1?; CC I TT G3 . # 7 0680 4600 11'59 01::fK HERRINGTON L.A. i New_Ir 7. 1989 Election i First publication not later than Slpte~er 15. 1989 P.07 the statuti calling for the Itat.wide .pecial .l.ction. Publication or Publication and POlting of Ordinance Callino Election A copy of the ordinance mult be published lither: (a) once a day for at least s.ven daye in a n-wlpaper of general circulation published at l.alt six days a week in the City: or (b) onc. a WB.k for two we.Jq in a neWlpaper of g.neral circula1:ion published 1.1. than lix day. a w..k in the City. the fir.t notice lhall be pubU.htd no later than 50 days before the dection. I! no .\ICh newspapet of general circulation is publilh.d in the City, the ordinance IllUIt b. both (a) pOlted in thrl' public place. in the City for two consecuti.... ....eks and (b) publish.d in a newepaper of g.neral circulation published in the nearest city. Sit Deadline for Filing Ballot Argumants and Rebuttal. the City Clerk shall set a reasonable time for submission of ballot argum.nts. Notice of s\lCh deadline. should be published one. in a newspaper of gen.ral circulation in the Ci ty. The arguments mult conform to thl requirements of and are to bl chosen pursuant to thl Election Cod.. If the City has adopted Clrtain provisionl not later than the day on which the City Council pass.. ordinance calling election relating to XEROX TELECOP,ER 29b 05/1 7/1989 ??_??_~?'??'0? ,~. .. .. ........ ::, June 6. 19B9 1l1ection 7. [This deadlinl dIIpendl upon the time nil dId by thl City AttornlY to draft the anal,.is and thl tiM nl14ld by the clerk to print the snalYlis.J B. (This deadline depends upon thl time nlldld by thl Clty Cllrk to have the ellction .-tlria18 printld.J 9. [This deadlinl 4ependl upon the time nlldld by the Clty Cllrk to have thl IlICltion materials printld.] 12:00 ~ """""" N~er 7. 19B9 Ellction CC I TT GJ + # B L.R. ~80 4600 P.08 rlbuttal arguments. thl City Clerk mu.t mail a copy of each direct argument to the authors of thl contrary argument. The dlldU&\I for filing rebuttals is ten days after the dladline for filing dirlct argument.. City Attorney'. Analysis of Bond I.sul The City COuncil IIlIIY dirlct thl City Clerk to forward a copy of thl proposed bon4 i..Ut to the City AttornlY. who then mu.t prlparl e '00 word or llss impartill analysi. of the measure. Thl City Attorney's analr.is must be printld in the ballot pamphllt. prlceding the ballot argumtnts. Languagl specified in Slction SOll of the Election Codl muat bl printld immediately below thl anelysis if thl entire text ol thl measure is not printed on thl ballot or in thl voter information portion of thl sample ballot. Period of Public Examination At least ten callndar days befOre thl election material. (~. sampll ballot. ballot e~ent.. etc.) al'l to be printed. copiel of all such materials must be madl availabll for public inlpection in the City Clerk', office. During this ten-4ay Pldod. the City Clerk or any vOtlr in the City may seek a writ of IIlIIndate to have any or allot the election matlrials amended or dellt.d. Send Election Matlrial. To Printer The City Clerk shall have the nlclllary ballots printld .n4 .hall furni.h thl Il.ctio~ offiees with the neeessary supplies. XEROX TELECOPIER 295 05/17/1989 ,. June 6. 1989 i Ilection , i 10. It>t btfore ~ri1 27. 1989; ~t later than ICaY 26. 1989 ':",:._?ri_;';' ; ??: '7'7 ??; 12:00 sc:rCK HERRINGTON , " I .~r 1. 1989 E tction Not b.fore StPte~er 28. 1989; Not l+ter than Octobtr 27. 1989 L.R. CC I TT G3 + o 680 4600 P.09 # 9 Mail Samplt Ballot and Vottr Pamghltt. Including Tax Ratt Stat...nt Not mort than 40 nor 1... than 10 days btfor. tht attction. tha City Cltrk (or. if tht election has be.n consolidated. the COUnty Clerk) muat mail to each reqi.tered vottr: a sampla ballot with a printed cov,v of the writttn a~.nt. for and aqainat tha mla.ure. a noticI de.cri~in9 tnl polling placa and time of the election. a tax statement. and a voter pamphlet. All official publication. and any" ballot pamphl.t prapared a44rt..in; !:he bond illut IllU8t include a tax rate statl..nt. The tax rate .tatement .hould include tht b..t .stl.lIl&l:e frotll official lourc.. a. to all of the follOlling : (1) Thl tax rate (ptr $100 of a~Be"ld valuation on all property to be talCld) needed to fund the bandl for tht fiscal Ylar following tht initial lale of bond.; (2) the tax levy nt.ded to fund tht bonds for the filcsl year foll0winq thl final sale of bonda if tht bonds art issued in Itri., and the year in which the rate will apply; and (3) the highest tax rat. nttded to fund the bond. and the fiscal y.ar(s) in which that rat. is expected to occur. XEROX TELECOPIER 295 ~:./1'('/1~l::l':l JWle 6. 1989 Election 11. Not later than JWle 8, 1989 Not later than July 3. 1989 1.0'1<31 ??_??_':?; ??:?? ~''7'; u~~t:S H~~~lNbIUN I I , I No~er 7. 1989 Ehction I , Not later than November 9. 1989 i Not later than Dec~r 4, 1989 CCITT G3 -+ #10 L.H. :::ld!:O\:J 4b\:J\:J ~'.1\:J The stataMent may al.o de.cribe any intent to use revlDUS' other than ad valore. taxI' to fund the bon4I and the effect .uch a policy would have on the tax rate(s) expected to be levied. If the propolition i. approved by two-thirds of the electors voting, bonds may be iuued. Canva.s of Ileturns and StatUlent and Resolution of Re.u1t. An official canva.s shall bl conducted by the County Cllrk coamencing 1IO later than thl first Thursday following thl ellction at any public place a. tbs CoWlty Clerk dllignat... the canvass .hall be 'public and be conducted by opining the returnl and determining the vote for and aqainet each me..ure and declaring the re.ult thereof. The County Cllrk shall prepare a certified .tatement of the re.ult. of the election and .ubmit it to the City COuncil within Z8 days of the election. The .tatament of result ,hall show: (a> the total number of ballots cast. (b) the number of votes cast at each precinct for and against each me..ure (c) the total number of votes ca.t for and against each measure. The City Council must adopt a resolution declaring thl result. of the election. "t:.K'.JJ\ ri:.i....t::Lu~iEj;: ..:::~lj 05/17/'1989 June 6. 1989 Election 1. (Prior to bond I&le.] 2. [prior to bond .ale. J 3. [Not later than 30 days prior to bond ,ale. ] ..; , 12:02 ORt:r I CCITT G3 .. #11 HERRINGTON L.A. :eo680 4600 R.ll I , Novimber 7, 1989 Election 1 BOND ISSUANCE City Council Resolution The City Council i. to pas. resolution prescribiDi the total amount of bonds to be sold; .ettiD9 out the serie. of the bondi, if any; prescribing the fom of the bond. and lizill9 the dlte of the bonds; fixinq a time and place for payment of the bonds (whiah mey be required to provide for level debt service); fixiD9 maturity date. for the bonds (maxilll1.llD ...tudty not to exceed 40 year.); fixill9 the daDOlllinations of the bonds I providing for delivery of the bondl and for receipt and transmittal of the purahase price thereof in certified Federal Reserve Bank fundal stating the maximum acceptable intereat rate (not to exceed 12t) and the call provisions of the bonds. Financial Advisor Contract If the City Council determines that a financial advisor is nece..ary or desirable to aid in structuriD9 the bond iUlle. the City COuncl.l \IlUIIt enter into a contract with the financial advisor. CDAC Notice Notice of the proposed bond sall must be mailed to the California Debt Advisory Commission. ,'..... ,__. . ~I..-__ _'t . ...." __'::'" 11~/1'//1'='1=I'=' 1.0:<1:< \June 6. 1989 Election 4. [Not late~ than 1& calendar daY' p~io~ to bond sale.] 5. [This deadline exiat. because of the 4..dline in item 6 below.] 6. [P~ior to bond .ale.] 7. [This date i. .et by ths adve~tiee- ~ent desc~ibed in numbe~ 6.] 8. L-L-l t i GJ -1> u'Qcr:, H"r.:r.: 1 NL.; I UN L. H. C blO<I 4b<l<l #12 1-'.1:< Noveml)er 7, 1989 Election , , Financial Publication Notice If the amount of bonds to be sold exceeas $1,000,000, the City Council mu.t cause notice of ths aale to be published in a financial publication generally ci~culated ~0U9hout california. Official Statement The City Council mJY prepa~e or have prepe~ed an official stat.ment. The official .tatement i. typically ~elldy by the date of publication of the advertisement of bids (.ee below). Adv8~isinq for Bids Following the City Council ~elolution the City Council must adverti.e for bids in the maMer presc~ibed by the City Council. Offerinq Bonds for Sale The City Council will offer the bond. for .ale at the time p~.acrib.d by the City Council in ita advertisement. Bide Il~' to b. accepted by the City Council pursuant to the guidelines in the Government Code. The bonds may riot be .old at a di.count. Form and Execution of Bond. The bonds are to be signed by (1) the mayor or such other officer authorized in a r.solution of the City Council ,\o;..r\'_?' ''-l....l:...'-'-'r I r::..r<: ,,-_'_ 05/17/1989 JImI 6, 1989 IlIotion 9. [Following' bond Alt. ] 10. [on or btfore the 15tll day of tht ..oond oalendar month after the close of the calendar quarttr in which tht bonds an il.\lt<1.] 11. [At the time of lIvying- other Ci ty taxes.] 12:03 CCI f i 0J + ,,13 ORR(:5 HERRINGTON L.A. 2e180 4600 P.13 NoveIllbtr 7. 1989 B+totion passtd by a two-thirdl vote of all its membtr. and (2) tht City Trealurtr and oounterligntd by the eithtr tilt City Clerk or a Deputy City Cltrk. Tht signatures may be faclimi1e signaturel. The bondl must bt in registered form. Bond D.liveIT Tht bond. art to bt dtlivertd to the purchaler tllsnof, and the purchaser is to pay for the banda on the datt d.ttrmined by tile City Council. Premiuml and accrutd interelt rtctived are to b. plactd in the principal lAd int.r..t paymtnt account and tlls nmainder of tht bond prccltda an to be deposited in the City Treasury and oredited to tile proptr imProvement fund. Form 8038 Reporting form 8038 must be filtd with the IRS. Tax for P8vm.nt of Bondi Tht City Council must annually levy a tax for the purpolt of paying- the principal (redemption priot) and interest on the bondl. 05/17/1989 June 6. 1989 Il.cUOD u. _'_ ' " 'J.;) '7 , .'4 12:03 DRRIO HERRINGTON L.A. 213~0 4600 P.14 Nov"r 7. 1989 Ilection Performance of WOrk TI\I City may perform the work for which bond proc.eda are used without following the ordinary procedun. in awardilllJ contract.. <EROX TELECOP I ER 295; 77-7"-;>-77;??:????: ee ,J e- '-~T 714 8854407 ~ MRY 18 '89 11:58 SRNBRG 71~5-4407 <:> # 2 P.2/4 PROPOSED SANBAG Proposed Sales Tax Program . Line AIDount Proaraa 1 1.658 Billion (.041) Billion 1.613 Billion Total Funds Available 2 3 4 (Less 1% Admin + 1.5% BOE Collection) Total Available For Plan ( .248) Billion 15% High Desert Share (Plus 50 Million STIP and 25 Million Developer Financing) Total For Valley/Lower Desert/Mtns. 5 1. 365 Billion P1lOQIl.W 6 740 Million State Fwy/Hwy/IC/Corridor/Contingencies 7 800 Construction 8 200 Engineering 9 50 Interchanges/Corridors 10 100 Contingencies ------ 12 1,150 Subtotal 13 (310) STIP Forecast 14 (100) Developer Financing ==:;;;~== 15 740 Sales Tax Needs 16 275 Million Local Projects 17 150 Million Arterials 18 100 Million Commuter Rail 19 75 Million E & H Transit, Including Senior Fares 20 25 Million Amenities/Growth Plan Management (Including Open Space Plan Development) 05/16/89 r eelJe-rGT714 8854407 + o ~EROX TELECOPIER 295; ??-??-??:77:?? ??: MAY 18 '89 11:59 SANBAG 7<:)885-4407 P.3/4 Route I-10 I-10 I-215 I-215 SR 30 SR 60 SR 62 SR 71 Total . 3 PROPOSED Seaaent and l'ro1ect Deacription Amount (U89 $' a) State Route 30 to Yucaipa Blvd. $10 Million Widen One Lane Each Direction (HOV) Los Angeles County Line to I-1S $80 Million Widen One Lane Each Direction (Possible HOV) I-IO to State Route 30 Widen One Lane Each Direction (Possible HOV) $100. Million Riverside County line to I-10 Widen One Lane Each Direction (Plus $150 Mill. From L.A. ) . $75 Million L.A. County Line to I-21S Construct Six Lane Freeway (HOV) $400 Million L.A. County Line to Riv. County Line Widen One Lane Each Direction $25 Million Twentynine Palms/Yucca Valley Areas Wide to Four lanes plus Continuous Left Turn Lane/Signals $10 Million Riv. County Line to L.A. County line Construct Six Lane Freeway $100 Million $800 Million AEROX TELECOPIER 295; ??-??-??;??:?? ??; eeIJe-r~T714 8854407 ~ # 4 MAY 18 '89 12:00 SANBAG ~885-4407 o P.4/4 PROPOSED Possible arowth manaaement provisions: Each agency must adopt traffic management plan, including: 1. . 5 year TIP 2. local plans must be consistent with SANBAG regional guidelines (to be developed) and ratified by SANBAG 3. LOS goals 4. improve LOS on existing arterials 5. plan for new development fair share (fees or other) 6. maintenance of effort on local expenditures