HomeMy WebLinkAboutRESO 97841
Resolution No. 9784
Resolution of the Council of the City of Palo Alto Establishing Fiscal YearϮϬϭϵ
Property Tax Levy of $11.06 Per $100,000 of Secured and $11.77 Per $100,000 of
(Measure N Library Projects)
RECITALS
A. At t
more than two thirds of voters approved Measure N, authorizing the issuance of general
construction of a new Mitchell Park Library and Community center and renovation and
improvements to Downtown and Main libraries.
B. Pursuant to the Authorization, the City issued two series (Series 2010A and
2013A) of general obligation bonds in June 2010 and June 2013 that yielded $75.8 million
for project needs.
C. The City is obligated to levy ad valorem taxes on all property within the City
subject to taxation by the City, without limitation on rate or amount (except with respect
to certain personal property which is taxed at limited rates), for the payment of the debt
service on the Bonds.
D. The City is obligated to direct the County of Santa Clara to collect such ad
valorem taxes in such amounts and at such times as is necessary to ensure the timely
payment of debt service on the Bonds.
E. The amount of the annual ad valorem tax levied by the City to repay the Bonds
is determined by the relationship between the assessed valuation of taxable property in the
City and the amount of debt service due on the bonds.
The Council of the City of Palo Alto RESOLVES as follows:
SECTION 1. Pursuant to the Authorization, an ad valorem property tax is hereby
established to be levied on all land and improvements in the City of Palo Alto during fiscal
yĞĂƌϮϬϭϴͲϭϵŝŶƚhe amount of $0.01106 per $100 in assessed value for the secured and
utility tax roll and $0.01177 per $100 in assessed value for the unsecured tax roll based on
the calculations set forth in the attached Exhibit "A".
SECTION 2
copy of this Resolution to be delivered to the Auditor of the County of Santa Clara for entry
in the assessment book of the respective sums in dollars and cents.
'RFX6LJQ(QYHORSH,' (' ))(&%&)&$&%')
SECTION 3. The Council finds that this is not a project under the California
Environmental Quality Act and, therefore, no environmental impact assessment is necessary.
INTRODUCED AND PASSED: August 13, 2018
AYES: DUBOIS, FILSETH, FINE, HOLMAN, KNISS, KOU, SCHARFF, TANAKA, WOLBACH
NOES:
ABSENT:
ABSTENTIONS:
ATTEST:
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
City Attorney City Manager
Director of Administrative Services
'RFX6LJQ(QYHORSH,' (' ))(&%&)&$&%')
$ $VVHVVHG9DOXDWLRQV $9
7D[DEOH6HFXUHG$VVHVVHG9DOXDWLRQ $9
7D[DEOH8QVHFXUHG$9
/HVV (VWLPDWHG'HOLQTXHQF\
1HW7D[DEOH8QVHFXUHG$9
7RWDO$VVHVVHG9DOXDWLRQ $9
% 7D[/HY\5HTXLUHPHQW
'HEW6HUYLFH3D\PHQWV
*2%RQGV)HEUXDU\
*2%RQGV$XJXVW
*2%RQGV)HEUXDU\
*2%RQGV$XJXVW
7RWDO&DOHQGDU<HDU 'HEW6HUYLFH3D\PHQWV
([FHVV)XQGVRQ+DQG$SSOLHG7RZDUG'HEW6HUYLFH
6XEWRWDO
6DQWD&ODUD&RXQW\$GPLQLVWUDWLRQ)HH RI3ULQFLSDO ,QWHUHVW
7RWDO $QQXDO'HEW6HUYLFH5HTXLUHPHQW
& 6HFXUHGDQG 8QVHFXUHG 7D[5DWH
8QVHFXUHG7D[5DWHSHURI8QVHFXUHG$9 3ULRU<HDU
V6HFXUHG7D[5DWH
8QVHFXUHG7D[5DWHSHURI8QVHFXUHG$9
(VWLPDWHG5HYHQXHIURP8QVHFXUHG$9 OLQHGLYLGHE\WLPHVE\OLQH
(VWLPDWHG5HYHQXHIURP6HFXUHG$9 OLQHPLQXVOLQH
7RWDO $QQXDO'HEW6HUYLFH5HTXLUHPHQW
6HFXUHG7D[5DWHSHURI6HFXUHG$9 OLQHGLYLGHGE\OLQH
6HFXUHG7D[5DWHSHURI6HFXUHG$9 OLQHGLYLGHGE\OLQHWLPHV
([KLELW $
&LW\RI3DOR$OWR
*HQHUDO2EOLJDWLRQ *2 %RQGV(OHFWLRQRI6HULHVDQG
7D[5DWH&DOFXODWLRQ%DVHGRQ $VVHVVHG9DOXHV
'RFX6LJQ(QYHORSH,' (' ))(&%&)&$&%')
'IVXMJMGEXI3J'SQTPIXMSR
)RZIPSTI-H )( **)'&'*'% '& (* 7XEXYW 'SQTPIXIH
7YFNIGX 4PIEWI(SGY7MKR 6)73 )WXEFPMWLMRK*= 7IGYVIHERH9RWIGYVIH4VSTIVX]8E\ 1IEWYVI2
7SYVGI)RZIPSTI
(SGYQIRX4EKIW 7MKREXYVIW )RZIPSTI3VMKMREXSV
'IVXMJMGEXI4EKIW -RMXMEPW /MQ0YRX
%YXS2EZ )REFPIH
)RZIPSTI-H7XEQTMRK )REFPIH
8MQI>SRI 98'
4EGMJMG8MQI 97
'EREHE
,EQMPXSR%ZI
4EPS%PXS'%
OMQFIVP]PYRX$GMX]SJTEPSEPXSSVK
-4%HHVIWW
6IGSVH8VEGOMRK
7XEXYW 3VMKMREP
41
,SPHIV /MQ0YRX
OMQFIVP]PYRX$GMX]SJTEPSEPXSSVK
0SGEXMSR (SGY7MKR
7IGYVMX]%TTPMERGI7XEXYW 'SRRIGXIH 4SSP 'MX]SJ4EPS%PXS
7XSVEKI%TTPMERGI7XEXYW 'SRRIGXIH 4SSP 'MX]SJ4EPS%PXS 0SGEXMSR (SGY7MKR
7MKRIV)ZIRXW 7MKREXYVI 8MQIWXEQT
1SPP]7XYQT
1SPP]7XYQT$'MX]SJ4EPS%PXSSVK
'MX]%XXSVRI]
'MX]SJ4EPS%PXS
7IGYVMX]0IZIP )QEMP%GGSYRX%YXLIRXMGEXMSR
2SRI
7MKREXYVI%HSTXMSR 4VIWIPIGXIH7X]PI
9WMRK-4%HHVIWW
7IRX 41
:MI[IH 41
7MKRIH 41
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI
2SX3JJIVIHZME(SGY7MKR
/MIP]2SWI
OMIP]RSWI$GMX]SJTEPSEPXSSVK
(MVIGXSV3JJMGISJ1EREKIQIRX
&YHKIX -RXIVMQ
'*3
'MX]SJ4EPS%PXS
7IGYVMX]0IZIP )QEMP%GGSYRX%YXLIRXMGEXMSR
2SRI
7MKREXYVI%HSTXMSR 9TPSEHIH7MKREXYVI-QEKI
9WMRK-4%HHVIWW
7IRX 41
:MI[IH %1
7MKRIH %1
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI
2SX3JJIVIHZME(SGY7MKR
.EQIW/IIRI
NEQIWOIIRI$GMX]SJTEPSEPXSSVK
'MX]1EREKIV
'MX]SJ4EPS%PXS
7IGYVMX]0IZIP )QEMP%GGSYRX%YXLIRXMGEXMSR
2SRI
7MKREXYVI%HSTXMSR 9TPSEHIH7MKREXYVI-QEKI
9WMRK-4%HHVIWW
7IRX %1
:MI[IH 41
7MKRIH 41
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI
%GGITXIH 41
-( JIEE GFFH EG I
-R4IVWSR7MKRIV)ZIRXW 7MKREXYVI 8MQIWXEQT
)HMXSV(IPMZIV])ZIRXW 7XEXYW 8MQIWXEQT
%KIRX(IPMZIV])ZIRXW 7XEXYW 8MQIWXEQT
-RXIVQIHMEV](IPMZIV])ZIRXW 7XEXYW 8MQIWXEQT
'IVXMJMIH(IPMZIV])ZIRXW 7XEXYW 8MQIWXEQT
'EVFSR'ST])ZIRXW 7XEXYW 8MQIWXEQT
2SXEV])ZIRXW 7MKREXYVI 8MQIWXEQT
)RZIPSTI7YQQEV])ZIRXW 7XEXYW 8MQIWXEQTW
)RZIPSTI7IRX ,EWLIH)RGV]TXIH %1
'IVXMJMIH(IPMZIVIH 7IGYVMX]'LIGOIH 41
7MKRMRK'SQTPIXI 7IGYVMX]'LIGOIH 41
'SQTPIXIH 7IGYVMX]'LIGOIH 41
4E]QIRX)ZIRXW 7XEXYW 8MQIWXEQTW
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI