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HomeMy WebLinkAboutOrdinance 51 CITY OF SARATOGA ORD~,NANCE NO. AN ORDINANCE CALLING A SPECIAL MUNICIPAL BOND ELECTION IN THE CITY OF SARATOGA FOR THE PURPOSE OF SUBMITTING TO THE ELECTORS OF SAID CITY THE MEASURE OF INCURRING A BONDED INDEBTEDNESS OF SAID CITY FOR THE ACQUISITION, CONSTRUCTION AND COMPLETION OF THE FOLLOWING MUNICIPAL IMPROVEMENT, TO WIT: PUBLIC LIBRARY; DECLARING THE ESTIMATED COST OF SAID MUNICIPAL IMPROVEMENT, THE AMOUNT OF THE PRINCIPAL OF SAID INDEBTEDNESS TO BE INCURRED THEREFOR, AND THE MAXIMUM RATE OF-INTEREST TO BE PAID THEREON; MAKING PROVISION FOR THE LEVY AND COLLECTION OF TAXES; FIXING THE DATE OF SAID ELECTION, THE MiLNNER OF HOLDING THE SAME, PROVIDING FOR NOTICE THEREOF, AND CONSOLIDATING SAID SPECIAL MUNICIPAL BOND ELECTION WITH THE CAMPBELL UNION SCHOOL DISTRICT, CUPERTINO UNION SCHOOL DISTRICT, MORELAND SCHOOL DISTRICT, SARATOGA UNION SCHOOL DISTRICT, LOS GATOS-SARATOGA UNION HIGH SCHOOL DISTRICT, CAMPBELL UNION HIGH SCHOOL DISTRICT, FREMONT UNION HIGH SCHOOL DISTRICT, WEST VALLEY COMMUNITY COLLEGE DISTRICT AND FOOTHILL COMMUNITY COLLEGE DISTRICT GOVERNING BOARD MEMBER ELECTIONS TO BE HELD ON MARCH 4, 1975 WHEREAS, the City Council (hereinafter sometimes called the "Council") of the City of Saratoga by resolution duly passed and adopted at a meeting of the Council duly and regularly held, by affirmative vote of more than two-thirds of all its members, did determine that the public interest and necessity demand the acquisition, construction and completion of the municipal improvement hereinafter mentioned, and did further determine that the cost of said p~Oposed municipal improvement will be too great to be paid out of the ordinary annual income and revenue of said municipality and that said municipal improvement will require an expenditure greater than the amount allowed therefor by the annual tax levy, and will require the incurring of.a bonded indebtedness therefor, which resolution was duiy entered on the minutes of said · meeting of.the CoUncil, and is now on file and of record ~in the Clerk's office of said City; NOW, THEREFORE, THE CITY COUNCIL QF THE CITY OF SARATOGA DOES ORDAIN AS FOLLOWS: Section 1. A special municipal bond election shall be and is hereby ordered and will be held in the City of Saratoga (hereinafter called "the "City") on Tuesday, March 4,'1975, at which election shall be submitted to the qualified electors of the City the question of incurring a bonded indebtedness of the City for the objects and purposes set forth in the following measure, to wit: 'MEASURE( ): Shall the City of Saratoga (Library) incur a bonded indebtedness in the principal amount of $1,200,000 for the acquisition, construction and completion of the following municipal improvement, to wit: A new public library, including land, building, landscaping, site development and parking facilities, together with furniture, fixtures, books and equipment therefor; and other works, property or structures necessary or convenient for a new public library for the City of Saratoga? The estimated cost of the municipal improvement set forth in said measure is the sum of $1,200,000 and the amount of the indebtedness proposed to be incurred for said municipal improvement is the sum of $1,200,000. The estimated cost hereinabove stated of such municipal improvement includes legal or other fees incidental to or connected with the authorization, issuance and sale of the bonds evidencing the indebtedness proposed to be incurred for such municipal improvement and the costs of printing said bonds and other costs and expenses incidental to or connected with the authorization, issuance and sale of said bonds. Section 2. The Council does hereby submit to the qualified electors of the City at said special municipal bond election said measure set forth in Section 1 of this ordinance, and designates and refers to said measure as the measure to be set forth on the ballots hereinafter prescribed for use at said election. (a) Said special municipal bond election shall be held and conducted, and the votes thereof canvassed, and the returns thereof made, and the result thereof 3 ascertained and determined, as herein provided; and in all particulars not prescribed by this ordinance, said election shall be held as provided by law. (b) All persons. qualified to vote at municipal elections in the City upon the date of the election herein provided for shall be qualified to vote upon the measure submitted at said special municipal bond election. (c) The polls at the .polling places hereinafter designated shall be opened at 7~00 o'clock A.M. of said day of election and shall be kept open continuously thereafter until 8:00 o'clock P.M. of said day of election, when the polls shall be closed (except as provided in Section 14436 of the Elections Code), and the election officers shall ~thereupon proceed to canvass the ballots cast thereat. (d) Said special municipal bond election hereby called shall be and is hereby consolidated with the Campbell Union School District, Cupertino Union School District, Moreland.School District, Saratoga Union School District, Los Gatos-Saratoga. Union HighsSchool District, Campbell Union High School District, Fremont Union High School District, West Valley Community College District and Foothill Community College District Governing Board Member Elections to be held.in the City on March 4, 1975, all as required by and pursuant to law; and the election precincts, polling places and officers of election within the City for said special municipal bond election hereby called shall be the same as~those selected and designated for said governing board member elections. Said special election precincts and polliDg places therein and the election officers appointed to conduct said election thereat will be set forth in that certain notice to be executed by the Registrar of Voters of Santa Clara County, designated "Notice of Appointment Of Election Officers and Designation of Polling Places," to be published on February 7th and 14th, 1975 in the San Jose News and in the Palo Alto Times, to which notice reference is hereby specifically made. Only qualified voters of the City shall be permitted to vote at said special municipal bond election. The Registrar of Voters of the County of Santa Clara is authorized to'canvass the returnsof said special municipal bond election with respect to the votes cas~ in the City and to certify the results to the Council. (e) On the ballots to be used at said governing board member election and said special municipal bond election hereby consolidated therewith, in addition to all other matters required by law to be printed thereon, shall appear the measure set forth in Section 1 hereof. To vote for or against said measure hereby submitted and to authorize or not authorize, respectively, the incurring of the indebtedness in said measure set forth, each voter shall stamp a mark (0) in the blank space opposite the word "YES" or opposite the word "NO", respectively, On the ballot to the right of said measure. On absent voter ballots the cross (+) may be marked with pen or pencil, except that if and to the extent that Votronic ballots are 5 provided for absent voters, each voter shall stamp a mark (0) in the blank space opposite the word "YES" or opposite the word "NO" on the ballot to the right of said measure. Absent voter ballots setting forth said measure shall be issued to qualified electors residing within the City entitled thereto, in the manner provided by law, and such absent voter ballots shall likewise be canvassed by the Registrar of Voters of Santa Clara County. (f) At the next regular meeting of the Council occurring after the returns of said special municipal bond election have been canvassed by the Registrar of Voters of said County, and the certification of the results thereof to the Council, or at a special meeting called thereafter for such purpose, the Council shall cause to be spread upon its minutes a statement of the results of said special municipal bond election as ascertained by said canvass. Section 3. The Council proposes to issue and sell bonds of the City for the objects and purposes, but not exceeding the amount, specified in said measure, if said measure shall be approved at said election. Said bonds shall be negotiable in form and of the character known as serial, and shall bear interest at a rate not to exceed eight per cent (8%) per annum, payable semiannually (except that interest for the first year after the date of said bonds may be made payable at or before the end of said year). Provision is hereby made for the payment of the principal of and interest on said bonds as follows: At the time of making the general tax levy 6 after incurring the bonded indebtedness, and annually thereafter until the bonds are paid or until there'is a sum in the treasury set apart for that purpose sufficient to meet all payments of principal and interest on the bonds as they become due, the Council shall levy and collect a tax sufficient to pay the interest on the bonds and such part of the principal as will become due before the proceeds of a tax levied at the next general tax levy will be available; provided, however, that if said bonds are authorized to be issued at said election, and it is expected that all or any part of said bonds will be sold at such time that the principal of or interest on such bonds will become due before the proceeds of a tax levied after such sale wou].d be available to pay such principal or interest, the Council?, at the time of fixing the annual tax levy, may levy a tax in an amount clearly sufficient to pay that portion of the principal of and interest on said bonds which it isexpected will become due before the proceeds of the next succeeding tax levy will be available. If the earliest maturity of the bonds is more than one year after the date of issuance, the Council shall levy and collect annually a tax sufficient to pay the interest as it falls due and to constitute a sinking fund for the payment of the principal on or before maturity. Such taxes shall be levied and .collected as other'City taxes and sha].l be in addition to all other taxes and shall be used only for payment of the bonds and the interest thereon. Section 4. The City Clerk of the City is hereby directed, upon the passage and adoption of this ordinance, to publish the same once a week for two (2) weeks in the Saratoga News, which is a newspaperof general circulation published less than six (6) days a week in the City, and such publication shall constitute notice of said election. No other notice of the election hereby called need by given. Section 5. This ordinance shall be forthwith entered upon the minutes of the Council and in the Ordinance Book of the City. This Ordinance, being an ordinance calling and ordering an election, shall take effect from and after its final passagesand approval. PASSED AND ADOPTED this 18th day of December, 1974 by the fo].lowing vote: AYES: Councilmen Diridon, Brigham, Kraus and Bridges NOES: None ABSENT: - None " ' '7" Mayor of .the Ci%~'6~ Saratoga ATTEST: % = The foregoing ordinance was presented to me for approval and is hereby approved this 18th day of December, 1974. M~yor of the City ~f Sa~oga The above and foregoing Is a true and correct copy of Ordinance q/ which has been published according to iaw. · ~ty C~];rk ~'~/ Date CLERK'S CERTIFICATE I, tR~b~t'Fi'[~ge~ City Clerk of the City of Saratoga, State of California, do hereby certify that the foregoing ordinance is a full, true and .Correct copy of an ordinance introduced and read at an adjourned regular meeting of the Council of said City duly and regularly and legally held on the 10th day of December, 1974, and said ordinance was thereafter duly passed and adopted by vote of at least two-thirds of all of the members of the Council, at a regular meeting of the Council duly and regularly and legally held at the..regular meeting place thereof on the 18th day of December, 1974, of which meeting all of the members of the Council had due notice, as follows: AYES: Councilmen Diridon, Brigham, Kraus and Bridgess NOES: None ABSENT: None That I have carefully compared the same with the original minutes of said meeting on file and of record in my office and that said ordi.lance is duly entere~ of rec rd in the minutes of the Council and in the Ordinanue Book of said City, and said ordinance is a full, true and correct copy of the original ordinance adopted at said meeting and entered in said minutes and'Ordinance Book. That said ordinance has not been amended, modified or rescinded since the date of its passage and that the same is now in full force and effect. WITNESS my hand and seal of the City of Saratoga, this 20th day of December, 1974 Cit ~Ci'~y.oT'~fS~atoga, [SEAL] California'