HomeMy WebLinkAboutCity Council Resolution 816 RESOLUTION NO. 81~
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF SARATOGA ENDORSING REVENUE
BOND ISSUE OF SANTA CLARA VALLEY WATER DISTRICT
I~tEREAS, Santa Clara Valley Water District has called an
election to be held May 31, 1977, seeking authority to issue
$56,000,000 of Revenue Bonds to improve its water service to
levels consistent with the Master Plans of Cities and the County
of Santa Clara; and
~EREAS, Revenue Bonds will place no burden upon property
taxes or upon residents not benefited, but will be repaid only
by the revenues of the water enterprise so funded; and
WHEREAS, a bond issue for such funding will spread the cost
thereof to future as well as present water users; and
WHEREAS, the major improvements to be funded are required
to take advantage of the Federal San Felipe Water Project which
has had the final approval of the administration of President Carder;
NOW, THEREFORE, be it resolved by the City Council of the City
of Saratoga that the said proposed issue of Revenue Bonds by Santa
Clara Valley Water District is endorsed, and that approval thereof
by the voters of the District is urged.
The above and foregoing resolution was passed and adopted by
the City Council of the City of Saratoga at a regular meeting held
on the 20th day of ........ April , 1977, by the following vote:
AYES: Councilmen Bridges, Kraus, Matteoni, Corr
NOES: Councilman Brigham
ABSENT: None
AT'
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