HomeMy WebLinkAboutRESO 4600• •
• • • • ORIGINAL
RESOLUTION NO. 4600
RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO
URGING THE LEGISLATURE OF THE STA~E OF CALIFORNIA
TO PASS SENATE BILL NO. 409 TO ALLOW MUNICIPAL
UTILITIES TO ISSUE REVENUE BONDS TO FINANCE ELEC-
TRIC GENERATION FACILITIES
WHEREAS, the California State Legislature has provided
municipal governments with the opportunity to issue Revenue
Bonds to finance the construction of projects such as water
and sewer development, parking facilities, airports, convention
·centers and similar enterprises; and
WHEREAS, the provisions for issuance of Revenue Bonds
to not permit municipalities t-.; issue such bonds for the use
of electric power generation projects; and
WHEREAS, various municipalities in the State of California
own and operate their own electrical distribution systems and
many of these municipalities seek or may seek in the future to
develop the capability to generate their own power require-
ments; and
WHEREAS, development of such generating capability would
be substantially enhanced by the capability to issue Revenue
Bonds;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of Palo Alto that the California State Legislature should enact
into law Senate Bill No. 409, an act to amend Sections 6546,
6547, 6547.2, 54309, and 54310 of the Government Code relating
relating to Revenue Bonds.
BE IT FURTHER RESOLVED that the City Clerk is hereby
directed to forward copies of this-resolution to State Senator
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Alfred E. Alquist, State Senator Clark L. Bradley, Assemblyman
Richard D. Hayden, Assemblyman John Vasconcellos, Assembly ; .!'.,
t
Speaker Bob Moretti and Senate President pro Tempore Senator
James R. Mills.
INTRODUCED AND PASSED: May 22, 1972
1'.YES: UNANIMOUS
NOES: NONE
ABSENT: NONE
ATTEST:
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City Cler~ .. /
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Mayor
APPROVED AS TC FORM:
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Sr. Asst. City Attorney
APPROVED:
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T"'" Honorable Clark L. Bradley
California State Senator
State Capitol Building
Sacramento, CA 95814
SENATE BILL NO. 409
June 2, 1972
Enclosed for your information is a copy of Resolution No. 4600
entitled:
11 Resolutlon of the Council of the City of Palo Alto
Urging the Legislature of the State of California
to Pass Senate Bill No. 409 to Allow Municipal
Utilities to Issue Revenue Bonds to Finance
Electric Generation Facilities"
ANN J. TANNER
City Clerk
Enclosure