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AGENDA ITEM
TO: THE HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: ROBERT K. PERSON, ASSISTANT CITY MANAGER
VIA: RICK COLE, CITY MANAGER
DATE: JULY 16, 2001
SUBJECT: ADOPTION OF RESOLUTIONS CALLING FOR A SPECIAL MUNICIPAL ELECTION
ON NOVEMBER 6, 2001 RELATED TO A PROPOSED BALLOT MEASURE FOR
FINANCING OF A NEW LIBRARY THROUGH THE ISSUANCE OF GENERAL
OBLIGATION BONDS
RECOMMENDATION
It is recommended the City Council approve the following resolutions in order to call for a
special election on November 6, 2001 for the City of Azusa to place a ballot measure to issue
$5.875 million dollars in general obligation bonds for the purpose of constructing a new
library. The following resolutions require approval in order to conduct the election and the
subsequent issuance of general obligation bonds:
1) A resolution calling and giving notice of a special municipal election to be held on
November 6, 2001 relating to library bonds.
2) A resolution requesting Los Angeles County to consolidate the November 6, 2001 special
municipal election with the school district election.
3) A resolution that sets priorities for filing arguments regarding a city measure and directs the
City Attorney to prepare an impartial analysis.
4) A resolution providing the filing of rebuttal arguments to the city measure.
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BACKGROUND
On July 9, 2001 the City Council conducted a workshop to determine the feasibility of
constructing a new central library. At that time, staff presented various financing options with
a recommendation to issue general obligation bonds to raise the needed revenue to finance
the City's portion of the construction costs. The City is applying for 2/3 funding fromth
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State of California under the provisions of Proposition 14. If successful, the City's portion,
$5,575,000 ($5,875,000 minus financing costs) would be matched by State funding of
$10,354,000 to construct a new library costing a total of $15,929,000.
In order to issue general obligation bonds, the City must call for a special election in which a
2/3 majority approval is required to issue the bonds. It is proposed that this election be
called for November 6, 2001 to coincide with L.A. County's next election. The approval of
the recommended resolutions meets the technical requirements and scheduling requirements
to hold an election for this purpose on November 6, 2001. Although City Council could opt
to withhold a final decision until its meeting of August 6, 2001, that date poses the absolute
"drop dead" deadline for filing the required resolutions with the County.
It is important to note that if the ballot measure passes, general obligation bonds will be sold
only if the City is successful in obtaining the 65% funding from the State of California.
FISCAL IMPACT
There is sufficient funding in the 2001 Capital Improvement Projects (CIP) budget to cover
the costs of the election and associated support services.