HomeMy WebLinkAboutCC RESO 2004 - 130RESOLUTION NO. 2004 — 130
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
DETERMINING THAT THE PUBLIC INTEREST AND NECESSITY
DEMAND THE ACQUISITION, CONSTRUCTION AND MODERNIZATION
OF PUBLIC SAFETY FACILITIES AND THEIR FINANCING
THROUGH THE ISSUANCE OF GENERAL OBLIGATION BONDS
WHEREAS, the City of National City (the "City") is authorized to issue general
obligation bonds to finance municipal improvements pursuant to the provisions of Article 1,
commencing with Section 43600, of Chapter 4 of Division 4 of Title 4 of the California
Government Code (the "Act"); and
WHEREAS, the City intends to issue general obligation bonds under and
pursuant to the Act to finance a portion of the costs of acquiring, constructing and modernizing
public safety facilities (the "Improvements"); and
WHEREAS, in order to initiate proceedings under the Act to provide for the
financing of the Improvements, this Council must make certain findings and determinations;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
National City does hereby resolve, declare, determine and order as follows:
Section 1. The public interest and necessity demand, and it is the intention of this
Council to require the acquisition, construction, and modernization of the Improvements, and to
issue general obligation bonds of the City to finance the cost thereof, subject to completion of
the proceedings required by the Act.
Section 2. This Council hereby finds and determines that the estimated costs of the
Improvements will require an expenditure by the City greater than the amount allowed for it by
the annual tax levy of the City. The principal amount of general obligation bonds of the City to
be issued for the Improvements will not exceed the estimated cost of the Improvements, to be
determined prior to the adoption of the ordinance calling the election.
Section 3. This resolution is adopted, and general obligation bonds of the City are to
be issued, pursuant to the Act.
PASSED and ADOPTED this 20th day of June, 2004.
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ATTEST: APPROVED AS TO FORM:
MichPel Dalla, City lerk
/3 ,'
George H. iser, III
City Attorney