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Home My WebLink About35-City Administrator . elf(;, OF SAN BERNARDlio - R.Qu..2T POR COUNCIL ACT~ FnMn: Baward Wheeler, Chairaan General Obligation Bond w~: Blue Ribbon Co..ittee Subject: Report fro. General obligation Bond Blue Ribbon Co..ittee Date: May 1, 1989 Synopsis of Previous CouncillCtion: Feb. 20, 1989 - Formation of General Bond Co..ittee was approved. Selection of Co..ittee .eabers. General Obligation Bond Co..ittee presented reco..endations to Mayor and Council. Mayor and Council approved reconvening of General Obligation Bond Co..ittee in January 1989 and the re.oval of Council .eabers fro. appoint.ent to the co..ittee. General Obligation Bond Co..ittee directed to continue to evaluate financing ..chanis.s for funding capital i8Prove.ent needs with the intent of reco..ending a general obligation bond issue on an upco.ing ballot. May 31, 1988 June 21, 1988 - July 18, 1988 - Dec. 5, 1988' Recommendecl motion: 1. The General Obligation Bond Blue Ribbon Co..ittee reco...nas that the Mayor and Co..on Council place on the Rove.ber 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 i.prove.ents and facilities $4,130,000 ~~/;1l!:..~/' Contact person: Edward Wheeler/Fred wilson Phone: 5122 Supporting data attached: Yes Ward: All FUNDING REQUIREMENTS: Amount: Source: I Acct. No.) I Acct. DescriDtion) Finance: ,uncil Notes: Agenda Item No.3 5...- J _ -c. . 0 0 . 0 CI'J'Y OF SAN BERNARDIR'O - REQUEST FOR COUNCIL ACTION STAFF REPORf The General Obligation Bond Blue Ribbon Committee reconvened on Pebruary 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 75.0264 . c' 0 0 0 ..... a- U1 ... .... N ... Z . . 0 "0 3: CIl>>= >>'" >>3: >>3: rnrnX :eX lD< ~ ....<<.... <<~ < < .... < < .... ~~OI 001 'OlD oQlDlDoQ lDlD::I' lDlD'" lDlD... 1111~ m~ "'11 ::1::1::1::1' ::I ::I ::1::1'" ::1::1... lD lD lD 'OlD 01 < OIC::C::... 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'" '" 0 o 10 0 00 0 0 0 0" ::Jo. 0. 0 00 0 0 0 0 !II'" 0 00 0 0 0 0 '1 0 00 0 0 0 0 !l . o. o o o G.O.BOND COMMITTEE HIIUl:Il~ April 14, 1989 JlBMBBRS PRBSBNT: Edward Wheeler, 2nd Ward; Bill Heitritter, Mayor; Wade Byars, 3rd Ward; John Lightburn, 1st Ward; Geneva Woods, 7th Ward OTBBRS PRBSBNT: 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 saying the list was SUfficiently felt the rema1n1ng projects especially the could be sold. Geneva Woods expressed doubt as to the ability to sell a new police facility for $20 million. How is a costly new facility going to stop crime, drugs, etc. It was explained that it would be a de-centralized facility improving the police services throughout the entire 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 L . C-:- approve money going for Qnterconnect He recommended splitting up the categories: sQalS" . projects for instance. into three o 1. Public safety 2 . Parks 3 . S~reets In response to a question from felt that any other source of been exhausted. Bill Heitritter, Craig Graves funds for these projects has MOTIOR: That the Committee recommends to council an amount of $32 million of three bond proposals: a. Police facilities b. Transportation needs c. Park improvements and facilities. the Mayor and City dollars in terms 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 MOTIOR: 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. for Bond proposal be inclusion on the --! -c. o o o November 1989 School Board Election. Moved by: John Liqhtburn Seconded by: Geneva Woods The motion was unanimously approved. .KO'1'10., That the Committee's recommendation to Council be placed upon the Agenda for the May 15, 1989 Council Meeting. . 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 Meeting. There being no further business, the meeting was adjourned. at 10:10 a.m. Respectfully submitted: ~~O~ ~YNDIXON Executive Secretary /md , o. o 0 CITY OF SAN BERNARDINO INTEROFFICE MEMORANDUM 8906-901 o FROM: Ways and Means Committee 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 Committee, the fOllowing information has also been provided for the ways and Means Committee: 1. Timetable for Placina a Bond Issue on November 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 recommended 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 .~ -~-~"._- o. o o o INTEROFFICE MEMORANDUM: 8906-901 Proposed General Obligation Bond Issue June 9, .1989 Page 2 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 .program 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 program which is projected to be 20 years. In addition, SANBAG is recommending that $150 million be allocated for an arterial program. The allocation formula for this program has not been finalized although it is anticipated that funding will be allocated in a manner similar to the FAU process. SANBAG is currently conducting a survey which is projected to be completed by the end of June to determine voter acceptability of a half cent sales tax increase. D Ie WILSON Assistant to the City Administrator FAW/sh Attachment 0" I!:;:.LL......l..'r ,'-.... ~:;:;;;" U::,/1' 1/1 '::11::1'::1 U:::"( '. r ...J.:J -; . -0 1-'.1:)" U""I,-Q~~~INL>IUN L.I-i. 0" ,,1.:, bl::lU 4bW May 1. 1989* OUTLINE AND TIMETABLE FOR PLACING A CITY GBtlIRAL alliGATION BONO ISSUE ON MIl! 8. ,. OR NOVIMBER 7. 1981 BALLOTS AND ISSUINQ Q!N!RAL OBLIGATION IONO$ FOLLOWING A SUCCESSFUl ELECTION June 6. 1989 11ec~ion 1. tlot later than llarch 3. 1989 [This date _t be .et'to allow for ,uffichnt time ~or the adoption of the ordinance ducribed in n\llllber 3.J Statutory provieiona authoriaing the illuanee Of City general obligation bonda are found in the GoverlUMnt COeSe. Statutory provisions governing tha conduct of City general obligation bond elections are founeS in the Ellction Code. BOND ELECT I ON NOv~er 7. 1989 Election Not later than ~U9W't 3. 1989 ['rbil date mile t be BIIt to allow for lufficient time for the adoption of the ordinance de_cribed in nUlllber 3.1 Relo1ution Initiating Bond Election Proceedings Bond election proceeding_ are begun when two-thirds of tile City Cow\eil (or other 189i81ative body) pas, a relolution determining that the public interelt andlor nlcl"ity demand the acquisition. conltruction or completion of any municipal improvement. "Municipal improvetnent" includes certain specified improvement I and "other works. property or structure. necessary or convenient to carry out the, ObjectS. .. Ple..e note that tili. it time elated information. 'rbie outline should not b, relied upon after thl date ,tated above. please contact an Orrick. Herrington & Sutcliffe public finance attorney regarding applicable statutory updates. Copy,right: Orrick. Herrington & Sutcliffe. 1989 - ~bX TELECOPIER 29~ 05/17/1989 " . JU1\8 6. 1989 Election 2.' Not later than March 3. 1989 [~hi. date i. ..t .. a r..ult of. t~ elate in item 3. J 3. Not later than *rch 10. 1989 [Thil date is the deadline for adOption of the re.olution requestiru; consolidation of \:he election. that r..olution and this ordinance IlUSt be adopted on the .ame day. See number 4. below. J .;.,:>_ "'0 ",,,0,,'" ....:.: .0:' ORRICK HERRINGTON 11:57 Nov.-ber 7. 1989 Election Not later then August 3. 1989 [This elate is set as a result of the dati in itel\l 3.) Not later than August 8. 1989 (This date is the deadline for adoption of the r..olution rflq\l8ltiru; consolidation of the election. That resolution and this ordinance must be adopted on the .alIIe day. S.. number 4. below. I L.A. OIH OJ + - 213 680 4600 #0 P.03 purposes. and powers of the City." Article XIIIA of the California constitution (as amended by Proposition 46) further limits the u.. of band proceed. to acquisition or improvement of land and building.. Bond proceedl will not be available for furnishiru;s or equi~t. Introduction of Ordinance At a reqular meetiru; of the City Council at least 5 day. before such ordinance i. to be voted upon. an ordinance calling for the submi..ion of the general obliqation bond propo.ition to the voter. mu.t be introduced. Ordinance Callino Election An ordinance callinq the election muet be passed by a two-thirdl vote of the City Council at a regular meeting subsequent to the me.tin; where the re.olution in item 1 ia pa..ed. The ordinance will take effect upon passage. The ordinance must state all of the followinq:---- (a) the purpole for ilsuinq the bond.; (b) the estimated cost of the public improvement (s) ; (c) the principal amount of the propo..<1 hIUI: 0... 05' 17/1989 . Ju1\e 6. 1989 E\_otlftB 7137a 11::;,8 ORR I CV'f:)'R I HG WI. , .o~r 1. 1989 .1.lI!~iall L.R. 213 680 46012l o R.04 o (d) the _~ rate of bter..t to be pai4 (llOe eo ..0"" t.valw'perClHt). which 18 to be pai4 lUIIlually the fiflt ,.ar aa4 ...ilUllluallytheraafterl (e) the data of the .1.ctiODI and (f) the aaaaet' of boldiag the .lact10n (including the hour the poll. art to b. OpeD) aa4 the proc.dur. for vot189 for or agaiD.t tha propo.itioD (... nWlber 5 bel_). Tb. ordiOaDoe mIX al.o .tat. that the ..ti.aead oo.t .tated therain include. oo.t. of coDltruction periOd bter.1t (if the ~t'_DtI at. revenue producillq). 119al, prilltillf, Illd .i.oellanaoua other fe... !he Cltf 1. thall autbotbH to .peDd !Iou ptocea4. . fot the.e purpo.... Dat. of .1.otiool !he .1ection mUlt b. hald on all .'tabUlheel election day unl... the City is a charter City wlth electioll date. .peclfi.d ill It. chart.r. ..tablished electiondaYI are (3 .ach y.ath l(a). n. second Tuesday in April (ev.n numbeted yeat.)I l(b). n. fint TUlsday aftar the ' fiut MoDdey in March (odd Illlllll:laraCl y.an)! 2. The fir.t Tuelday after the flrst Monday in Jun. I and 3 'Oi;< fEl.:t.LLJI-'IEk: ;.!:Jt. 05/1 7 /1989 !" :une 6, 1989 . Elect~on . 4. Not later than March 10. 1989 Cd -1 *0 1l:~8.-'~~~;RE~~INGTOf' L A Orr . . November 7. 1989 Eleabon i , , I Not later than 111.19\.111: 8, 1989 213 680 4600 P.05 3. The first Tuesday after the fir.1: Monday in November. Manner of Holdinq the Election: If the election is con,Olidated with anothlr el.ction. the bond election ordinance may provide that the pr.cincts, pollinq plac... and officer. of .lection .hall be the same as tho.e ..t forth in th. ordinanc. or notice for the election with which the bond election i. consolidat.d. the bond election ordinance must rlflr to the ordinance or notic' to which it refer. .ptcifically. Dlbt Limit: The principal amount of the City's q.neral obliqation bonds cannot exceed in the aqgreqate onl-quarter of 15% of the a.....ed value of all real and personal property in the City. Consolidatina an Election The election maY be consolidated with any other ellction schedul.d for the same day and must be consolidsted with a Itat.wide election scheduled for the same day. Statewide election. are held on the first TU8sdays after the first Monday. in June and November, re.pectively. in even numbered year.. Consolidations are to be effected by fo11owinq Election Code Sections ~3300 et seq. To consolidate an election with another local election. the City Council must adopt a resolution - ---w Q.. 1d~/1'(/1~~ ,June 6, 1989 . Election - 11:::>'~ UHHICK ~H1NliIUN , I I I I NOV~Br 7, 1989 El~ction , L.H. ,,1,5 bl:i'" 4b<J1/l , , 1-'.l/lb o o requesting cOl1lolidation. The resolution requesting cO/l8oliclation mult be adopted at the SlIIIIB lIItetin; where the ordinance calling the election il pt.ued. At the tiH of adopting the consolidation reaolution, but at least 88 daya before the election. the City Council mult file copies of the resolution requesting conaoliclation (which mult contain the language of the ballot propositionl and the bond election ordinance with the governing body of the jurisdiction with whiCh the election will bt conloUdated. For consolidation with a Itatewide election. the county board of supervisors is the governing body with which the resolution and ordinanc:e must be filed. The county clerk should also receive copies of the resolution and the ordinance. To effect the consolidation. the governing body of the )urisdiction with which the election will be consolidated. or the county board of lupervisors. as applicable. must order the consolidation. If a statewide special election is called less than 88 days prior to the date of such special election. the City Council may call a Iptcill election to be consolidated with the statewide special election if the call is issued within four days of the proclamation or the effective date of 5 - ^...."....,~ ,....-.... 0-, 05/17/1989 :une 6, 1989 Election 5. Flrst publication not later thAn April 14. 1989 6. (thi. deadline eSepend. upon the time needed by the City Clerk to have the a rgumente ~rint.d.] 11:59 ORRIICKORINGTON I Nov~er 7, 1989 Elfection I First publication not later than SePt~er 15. 1989 L.A. o 213 680 4600 o I ! p~e7 the statute calling for the Itatewide' special election. Publication or Publication and Posting of Ordinance Callinq Election A copy of the ordinance must be published either: (al onee a day for at least .even days in a newspaper of general circulation pUblished at least six day. a week in the City: or . (b) onee a week for two "eeq in a newspaper of general circulation published le.. than .ix 4&ys a week in the City. The first noUce .hall be pUblished no later than 50 day. before the dection. If no .ucll newspaper of general circulation i. publi.hed in the City. the ordinance must be both (a) po.ted in three public placee in the City for two consecutive weeks and (bl published in a new.paper of general circulation published in the neare.t city. Set Deadline for Filinq Sallot Arguments and Rebuttal. The City Clerk shall set a reasonable time for .ubMi..ion of ballot arguments. Notice of such d.adlines should be published onee in a new.paper of general circulation in the City. The arguroentsroust conform to the requirements of and are to b. chosen pursuant to the Election Code. If the City has adopted certain provi.ions not later than the day on which the City Council passe. ordinance callinq election relatinq to " - XEROX II;......~........... J l:,K "::':::1'-' o . 05/17/1989 12:00 June 6. 1989 IlecUon 7. [This deadline depends upon the time needed by the City Attorney to draft the analysis and the tiN nee6ed by the cleric to p.rint the analy.is. J 8. (Thia deadline dependa upon the time needed by the City Cleric to have the election ...teriala printed.] ! . I 9. [ThiS deadline 'epend. upon the time needed by the City Clerk to have the election materials printed.] JJ .. : :-; t.;:. ..: ::. \..0\...01 I I U0 '7 . 8 I , I ORRICKc:JfRINGTON L.A. c:> 213 680 4600 P.08 o Nove~er 7. 1989 Election rebuttal arguments. the' City Clerk muet mail a copy of each direct argUlllent to theauthora of the contrary argument. The deadline for filing rebuttals is ten daya after the d..dline for filing direct argument.. City Attorney'a Analysia of Bond Iasue The City COuncil may direct the City Cleric to forward a copy of the proposed bond issue to the City Attorney. who then mUlt prepare . 500 word or less impartial analysis of the measure. The City Attorney', .naly.i. must be printed in the ballot pamphlet. preceding the ballot argument.. Languag. apecified in Section 5011 of the Election Code must be printed immediately below the analysia if the entire text of the measure ia not printed on the ballot or in the voter information portion of the sample ballot. Period of Public Examination At least ten calendar days before th' election materials (~. sample ballot. ballot arguments. etc.l are to be printed. copies of all .uch materials must be made available for public inspection in the City Cleric'. office. During this ten-day period. the City Cleric or any voter in the City may seek a writ of mandate to have any or all of the election materials am~ded or deleted. Send Election Materials To ~rinter The City Cleric shall have the necessary ballots printed and shall furnish the election offices with the necessary supplies. ~ 0". 05/17/1989 June 6. 1989 i Election . ; 10. Not before ~ril 27. 1989; 1(ot lahr tnan lCay 26, 1989 JL - 12:00 ORRIC~RRINGTON I , N r 7, 1989 E ection Not b.fore septe~er 28. 1989; Not l,ter than October 27, 1989 . ~ L,A. o o 213 680 4600 P.09 Mail Sample Ballot and Voter PlUIlI:lhlet, Includil1Q Tall: Rate Stat....nt Not IIlOr. than 40 nor lesl than 10 days b.for. thl .l.ction. th. City Cl.rk (or. if the election has been coneolidated, the COunty Clerk) ~.t mail to each registered YOter: a sample ballot with a print.d copy of the written arguments for and &q&intt the measure, a notice delcribing the pollinq plac. and time of the election, a tax statement, and a voter pamphlet. ~ll official publication. and any ballot pamphlet pr.pared addrllling the bond issue must include a tax rate stat....nt. The tax rate statement lhould include the bllt estimat. fr~ official sourc.s as to all of the. following: (1) Th. tax rate (per $100 of ass.lled valuation on all property to be tl~ld) needed to fund the bondl for the fiscal y.ar followinq the initial lale of bondl; (2) the tax levy needed to fund thl bonds for the fiscal year following the final sale of bondl if the bonds are issued in ..ri.s and the year in which the rat. will apply; and (3) the highest tax rate ne.ded to fund the bonds and the fiscal year(e) in which that rate is expected to occur. . 'C'. Id:>/l:r/l':il:l':i June 6. 1989 Election 11. Not later than June 8, 1989 Not later than July 3. 1989 ld:ldl - UHH,Il.;K ~HjNLi I UN I I , I Nov~er 7. 1989 Eiection I Not later than November 9. 1989 i Not ~ater than December 4. 1989 L.H. dU bl:lld 4bldld o 1-'. lid o The stateMent may allo describe any intent to Wle revenues other than ad valoru taxes to fund the bonds and the effect such a policy ~ld have on the tax rate(s) expected to be levied. If the proposition i. approved by two-thirds of the .lectors voting. bonds may be iSlued. Canvass of Returns and Statement and Resolution of R.sults An official canvass shall be conduct.d by the County Clerk COl'Ml8ncin; no later than the first Thursday following the election at any public place as the County Clerk d..ignat8l. Th. canvass lhall be .public and be conducted by opening the retutns and determining the votl for and against each mlasure and declaring the relult thereof. The County Clerk shall prepare a certified Itatem8nt of the results of the election and submit it.to the City COuncil within Z8 days of the election. The statement of result shall show: (a) the total number of ballots cast. (b) the number of votes cast at each precinct for and against each m.alure (c) the total number of votes cut for and against each m.asure. The City Council must adopt a resolution declaring the results of tn. .lection. ~ . 0,. 05/17/1989 June 6, 1989 Election 1. (Prior to "bond All. ] 2. [prior to bond .ale.! 3. [Not later than 30 4ays prior to bond ,ale. ] 12:02 DPP(OC'P I IIGTDll L.A. 213 680 4600 o o P.ll I , November 7. 1989 E1ection , BOND I SSlJANCE City CoWlcil Resolution the City Council is to pas. resolution prllcribing the total amount of bonds to be 801d; .etting out the 8erie. of the bondI. if any; pre.cribing the form of the bond. and fixing the date of the bond8; fixing a tima and place for payment of the bonds (Which may be required to provide for level debt service); fixing maturity date. for the bondI (maximum maturity not to exc.ed 60 year.); fixing the dellOlllinations of the bonds; provi411l9 for delivery of the bondl and for rec.ipt and tran'lllittal of the purchase price thereof in certified Federal Relerve Bank fundi; stating the maximum acceptable intere.t rat. (not to exceed 12~) and the cll1 provilion. of the bonds. Financial Mvisor Contr~t If the City Council determine. that a financial advisor is nece.lary or d..irabl. to aid in structuring the bond iuu., the Ci.ty COWlcil mUlt enter into a contract with the financial advisor. CDIIC Notice Notice of the proposed bond sale must be mailed to the tali.fornia Debt Advisory Commission. o. U':./l'(/l'::ll::l':l 1~:\:J~ .Tune 6, 1989 Election , 4. [Not later than 1& calendar day. p~ior to bond sale.] 5. [This deadline exists because of 1:he deadline in item 6 below.] 6. [Prior to bond .all. ] 7. [This date i. .et by the advertise- $lnt described in number 6.] e. UH",I,.K(5"' 1 Nl.1 I UN I Nov.mber 7. 1989 E,ection L.H. ~u bl::l\:J 4bW o "' .1<: o Financial Publication Notice If the amount of bonds 1:0 be 1014 excltd. $1,000,000. the City Council . must cause notice of tbe aale to be published in a financial publication generally circulated throughout . California. Official Statamenl: The City Council may prepare or have prepared an official statement. The official .tatement i. typically ready by the date of publication of the advertisement of bids (see below). Advertisinq for Bids Following the City Council re.olution the City Council mu.t adverti.e for bids in the mlMer prescribed by the City Council. Offerinq Bonds for Sale The City Council will offer the bond. for sale at the time prescribed by the City Council in ita advertisement. Bids are to b. accepted by the City council pursuant to the guidelines in the Government Code. The bonds may not be .01d at a discount. Form and Execution of Bond. The bonds are to. be signed by (1) the mayor or such other officer author~zed in a resolution of the City Council 11 ,--- 0,. 05/17/1989 June 6, 1989 Blection 9. [Following bond nl,.1 10. [on or before the 15th day of the second calendar lIIOnth after the close of the calendar quarter in which the bonds are. ialued. ] 11. [At the time of levyinq other City taxes.] 12:03 j ORRICK ~INGTON L.R. 213 680 4600 P.13 o o November 7. 1989 Etection passed by a two-thirds vote of all its IIlIlIIberll and (2) the City Tna.urn and countersigned by the either the City Clerk or a Deputy City Clerk. The signatures may be facsimile signatures. The bonds must be in registered form. llond D,U ve no The bonds are to be delivered to the purchaser thereof, and the purchaser is to pay for the bonda on the date determined by the City Council. premiuma and accrued interest received are to be placed in the principal an4 interest payment account and the remainder of the bond proceedll are to be deposited in the City TreaBury and credited to the proper improvement fund. Form 8038 Reporting form 8038 must be filed with the IRS. Tax for Payment of Bondi 'Ihe City Council must aMUIllly levy a tax for the purpose of payinqthe principal (redemption price) and interest on the bonds. ,? o. 0=./17/1989 JUM 6. 1989 Election 12. 12:03 Ci~:Rl'Y H~RRIN(iIUN L.R. e 213 bo~ 4500 P.14 o Nov~r 7. 1989 E~ection Performance of Work the City may perform the work for which bond ~roc..d4 ue usedwitoout followinq the ordinary procedur.. in awarding contract.. 13 o I o o , O. MAY 18 '89 11:58 '3ANBAG 714-88t:r07 P.2/4 PROPOSED SANBAG Proposed Sa18. Tax Program LiD. AIIIOUJl~ 1 1. 658 Billion 2 (.041) Billion 3 1.613 Billion 4 ( .248l Billion 5 1. 365 Billion Pll.OGR..W 6 740 Million 7 8 9 10 12 13 14 15 800 200 50 100 Proaraa Total Funds Available (Less 1% Admin + 1.5% BOE COllection) Total Available For Plan 15% High Desert Share (Plus 50 Million STIP and 25 Million Developer Financing) Total For Valley/Lower Desert/Mtns. State Fwy/Hwy/IC/Corridor/Contingencies Construction Engineering Interchanges/Corridors Contingencies 1,150 Subtotal (310) STIP Forecast (100) Developer Financing ..===== 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 I 4:)eROX T~LECOPIER 29b; ??-??-??:~?? 17; 11AY 18 '89 11: 59 '31't11BAG 714-885-4407 eeIJe-rVT<:) 8854407 + Route I-10 I-10 I-21S I-21S SR 30 SR 60 SR 62 SR 71 Total PROPOSED P,3/4 Seament and Pro1ect oelcrlDtlon Amount (19a9 $'1) State Route 30 to Yucaipa Blvd. $10 Million Widen One Lane Each Direction (ROV) . Los Angeles County Line to I-1S $80 Million Widen One Lane Each Direction (Possible HOV) I-10 to State Route 30 Widen One Lane Each Direction (Possible HOV) Riverside County line to I-10 Widen One Lane Each Direction (Plus $150 Mill. From L.A. ) L.A. County Line to 1-215 Construct Six Lane Freeway (HOV) L.A. County Line to Riv. County Line Widen One Lane Each Direction Twentynine Palms/Yucca Valley Areas Wide to Four lanes plus Continuous Left Turn Lane/SignalS Riv. County Line to L.A. County line Construct Six Lane Freeway $100,Million '$75 Million $400 Million $25 Million $10 Million $100 Million $800 Million .. O:ROX TELECOF-' I ER 285: ,v.,.",.,.-;.-.).'O,,'O""" : ;-, :-.,. '.::;' Go..:! ,Je-j "'TO l:l8b44U7 '" MAY 18 '89 12:00 SANBAG 714-885-4407 PROPOSED possible arowth manaaement provisions: Each agency must adopt traffic management plan, including: ;0 P.4/4 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 ,f~ '.f:.;~tr; ",' . . ,"~.~" ~'~'~":'" .",{' ,J/'\~,fn\~ ',. ~;J. ~:., ,: . .