HomeMy WebLinkAbout0461.000-
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Auqust 2, 1990
THE HONORABLE CITY COUNCIL
PALO ALTO, CALIFORNIA
MT,J,pAR;K JOIllT POWERS FINANCE AUTHoRITY
Members of the Council:
summary
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This report reviews the results of the economic study performed by
the Ballpark Joint Powers Authority. The purpose of the study was
to determine the economic benefit eaCh of the Joint Powers aqency
members would derive frOD the construction of a baseball stildium in
the city of Santa Clara. This report also outlines the major
provisions of a new proposed JoInt Powers agreement and recommends
that Council not adopt that agreement in its present form.
Background regarding Economic Study
council entered into a Joint Powers agency (JPA) agreement with
several other cities for the purpose of determining the economic
benefit. to Palo Alto, should a baseball stadium be construct~ in
the city of Santa Clara. The cost to the City of Palo Alto was not
to exceed $10 .. 000. That report has noW" been completed and
distributed to .. embers of the JPA. -The report indicates tllat Palo
Alto would. reee.lve 2.5 percent ot thi! economic benefit of the.
constructIon of such a facillty. A copy of the executive summary
is attached for your revIew.
Discussion of Economic Study
A reading of the report leaves open to question whether or not the
2.5 percent figures is anything more than an educated guess. The
analysis suffers from two major weaknesses. First, it establishes
the -multiplier-value {the number of times a dollar turns over
after beIng spent) at a level deter:JIined for the california
Amusement Ind·ustry. There is no reason to believe that this value
has any bearing on Palo Alto economics, qiven the distance we are
from the proposed site. Second, having established the multiplier
value, the report arbitrarily r~duces it to a lower value without
any supportinq data
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or r&tlonal.~ Thi. -adjusted-Ilultiplier value ie then used to.
compute the benefit t.o participatIng aqencies. No evidence is
ott.re~ to support the use o~ this adjusted number or to ~etermine
if it hos any validity.
with the completion of this report, the obligations of the existing
JPA are complete aa tar as Palo Alto is concerned. The 3PA bas no
authority to require additional lIonies trom a.ny Ilember without the
express consent of that member.
f.!:oposed New Joint poy_~gency
Attached is a copy of a proposed new JPA agreement. This agreement
provides for the formation of a new entity with powers
substantially difterent troD those of the existing JPA. The major
teatures of the new proposal are:
1. The name of this agency is the Ballpark Joint Powers
Finance Authority.
2.
3.
The County of Santa Clara Is not a member.
Each city has one vote except for the cities of santa
Clara and San Jose~ each of whom has three votes. All
representatives must be Council Members from the
respective cities.
4. The Authority will have the power to float reve.nue bonds.
5. The Authority will have the power to call an election on
the question of levying a 1 percent UtIlity Users Tax in
the member jurisdictions.
6. The Authority will have the power to levy a 1 percent
Utility Users Tax on electric 1 gas, telephone, water,
sewer, qarbage, rUbbish, cable television and nitrogen
gas. This tax would apply to all members of the JPA.
7. The Authority is not limited to ballpark construction.
It has the authority to exercise other powers (not
specified) common to all the members.
Analysis of the. Proposed JPA Agr_~_em~_nt
The proposed Agreement commits all membars to abide by the
decisions of the JPA Board. Ti.ing and 'Wording on any ballot
measure would he deterained by the Board majority.
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Paqe 3
Pi'eussion
The proposed aqreement presents ae-vel:!!!l substantial problems ..
First, the proposed document commits all members to abide by
decisions of the JPA Board.. rialng and wording on any ballot
.ealiure would be deterained by tbe Board Ilajority.. Of equal
Iliportance Is t.he tact that, should a tax election be heId, members
are bound by the decision of the majority of the voters In the
entire JPA jurisdiction. In other 'Words., imposition of a t.ax would
be binding on a Bember if approved by a majority of the voters of
the entire. area comprising the JPA even if that memJ:,er's own
electorate rejected the meaSure.
Second, the aqreement appears to be broadly worded and does not
H.it tbe JPA to dealill9' solely witb ballpark construction. While
there is no present Interest to use the JPA for other purposes.,
future circumstances 2ay change that positlon~
Third... control of JPA decisions will rest firmly in the hanes of
the cities of Santa Clara and San Jose, since the~ will comprIse 6
of the 14 votes (assuming all ten -invited-cities join the JPA).
The deqree that t.he number is reduced below ten, the relative
weight of the two major cit.les increases. All regional issues
require. some yleldill9 __ .of authority by the participants, but the
weight qiven to two cities may be ~ore ~~n reasonable.
Fourth., the proposed agreement focuses on a taxIng source already
used heavily in Palo Alto.. council worked closely with homeowners'
qroups ... civic and cultural organizations, and industry leaders to
establish a fair and equitable utility use tax in Palo Alto. The
exist.Ing tax includes a sliding scbed·ule... and commitments by
Council with regard to use of funds. Those arrangements may be
jeopardized by an additional tax.
Finally, under the provisions of the proposed aqreement, Palo Alto
residents end businesses would pay a disproportionate sba~e of the
cost of the project. A 1 percent utility tax would yield
approximately $1.25-$1.~0 .illion/year (this tax covers more
·utilities· than Palo Alto's present tax). However, the economic
study received above, assuminq it Is an accurate estimate, sho~s a
return of only $25,0'00 annually.
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eonelU51on/Recommenda~ipns
Adoption of the aqreement removes fro. Palo Alto voters the option
of dater.ini"9 their own talC burd .. n and instead pen.its that
deci.lon to be .ade :by other members of the JPA. A more acceptable
arrangement would be to desiqn a process whereby com&unit!es could
review the proposed revenue raising measure, determine if that
measure is acceptable (by vote if necessary). and th§n join with
other siailarly inclined members. The JPA Finance Committee bas
provlde~ a draft resolution , wbich if adopted, v~~ld provide tor a
special City electIon prior to joining the JPA. The city Attorney
will be prepared to discuss this resolution at your A1.lqust 6
meeting.
Consequently, it. is recommended that Council not approve the
proposed agreement in its present form.
Attachments
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JOINT EXEFcCISE OF POWERS AGREEMENT
BALLPARK JOINT POWERS FINANCE AUTHORITY
Of' SANTA CLARA, COlJNTY,
CALIFORHlA
Daled as of August 1, 1990
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JOINT EXERCISE Of POWERS AGREEMENT
Banpark Jolnl Powers Flnan<:e AuthorIty
01 Sanla Clara Counly.
Co IIlornla
THIS AG-REE MENT. is by 0.-4 among I!\e .. rious parties signatory hereto, e.c"
dulV organized 800 eJjisfi~ under the laws of the State of California (the "Sta:e"),
coIIecI1'e!~ caned !he "Members,"
WITNESSETH:
WHEREAS, 11\. Ioca\ion 0( a bal1parlt 'acHrty ("Iacart() 'OIHhtn the geographical
confines of the County Of Santa Clara will s~nif~antly benefit the pUOfIC in terms of.
among other flings, the revenue genefau~d from such a fac~~J'.1he enhancement or
commun1ly prioo. and Ihe broa6erung of f;e area~s re-gi"Oflar and nafooal iden@cation;
WHEREAS, the potent1a1location of a facility withYn such a COj,Jnly lOcatiQ('l
would place <Jemancfs upon .regiooal pubnc services, includ1ng public safety. streets,
and "'ansporta!ion;
WHEREAS, the regiooaT benefit aM needs 0( sucll a facil~y can Iof a
~rdinatec1 financ~g ,pfDgfam bV the aflec1ed put>fic entities at the earliest possibre
opportuMy; and
WKERfAS, the Act. as herein defined, permits pubf~ entities, aner rece7W'ing the
prior consent of therr respective It!gislafive bodies, 10 jointl)' exercise any power
commOrL 10 the cootracrir.g parties;
NOW, THEREFOflE, IT IS AG-REED. as Iollows,
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MlTIC\.E I
OEFINITIONS
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SectlCn f.Of. Oeflnltlons. Unless lIle conlext olherwise requires, Ille woros
and farms defined in this Mere sMn. 10< lIle purpose hereol, have lI1e meanings
herein apecif>ed .
• &\" means Ctlapler 5 (commencing with Seclion 65(0) of Division 7, Tille 1 of
the GoIIemmeot Code of the Stale.
"Aorcemeal" means r"lfs Agreement
"Auditor and Treasure" means !he Direc10f ~ Finance of lhe County of Santa
Clara <lesignaled as "'00110< end Treasurer of the ... uIhofily in SecIioO 3.02.
·"'uIhOr~(' means lIle earlparl< Joinl Pewers Finance Authority of Santa Clara
County, califomi., crealed pur.uant 10 lIli. Agreemenl
·BaUgarX· means lI1e pubr,c banpark proposec11O be constructed 011 a s~e
,,"r.1or localed in the Coun1y of Sa nfa Cia ra.
·Bond Law' means the Marl<s-Rocs Local Bond Pooling Act 0/ 1985, being
Article 4 0/1he AcI (commencing with Section 6584~ as now Of hereafter amended, or
any othef law herealler legany ava,able 10< use by the Authority in lIle aulhofizaf!011
and lSsuar>ce of Bonds 10 finanee the Pubroc capilal 1~()IIemenls.
"Bond Purchase Agreemenr means an agreement between the Aufhori!y and a
Member purs..anl 10 wIlicll lhe Autlloray agre..s 10 purchase OOIigalions from 8 \1._ .
• ~ means bonds of \he Authority issuM pursuanllo Section 6590 or 6591
of the Bond taw.
-clJairpersoo" means the chairman Of' cl'lairwoman oflhe Authorfty.
-commISSion" means the CommissToo referred 10 m Section 2.03. wflich s1\an
be "" governing body of !he ,o,uthorfty.
·Commissioners" means the represenlatives of the Members a,ppotnted to 1he
CommISsion pursuanllO Seer"", 2.03.
30.
"FiScjll Year" means \he period from July 1 10 and including lI1e torIowing June
-)nfras,1ructqre" means atl oC 1he Pubr;c Capi1af lmprovements other 1han the
sarlpar1<.
-Jurisd"tcfinnal Area 0( the AumQfjty" means the combined aggregate
geog<aphical area of an of the Membo,s.
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"Members and Member" means each of [he parties J.o Jt1fs .Agreement and
"Member" means any suctl par1y; 1t1e Count]' or Santa Clara may beCome a Member'
granted the authority b]' the State legislature '0 Ie .... y and coilect a util.ty users la ..
pursu&nllO SecflOn •. 03(m).
'QbfmaVons" has the meaning given to the term "Bonds" in Section 6585{cj of
... Bond law.
·Pubnc Capital [m0m .... emenls .. means the Baflparll: and an p .. bTIC infrastructure
improvemen1s relafed Of' appurtenant thereto. inckKfmg without ilmftafion public streets,
overpasses, parking, landsCaping and reTated im,Pfo-..ements.
"Secretary" means 1he secre1ary of 11'\6 Auttx:.fity.
"Stadium Joint pp,..efs Authority" means !he Sta~um Joir'J Powers Authofil],
created by Join! Powers Ag,eemenl between lIle Counly 01 Santa Clara and She Cities
01 Campbell. Cupertino, los Mos, Milpnas, Mountain Y",,,,. Palo Mo, San Jose. Santa
Clara, Safa1oga, aO(J Sunnyvale relating 10 potential s1atlium facnities analysis, as
amended .
• ~ means Ihe State 01 cal ~ornia.
'VICe Chairperson" means the vice chairman Of chaiNfoman of the Authority.
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ARTICLE I
GENERAL PROVISIONS
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Section 2.01. Purpose. This Agreement is made pursuant \0 !he Act
prOYlding lor lIle join! exercise of PO"'''' commoo 10 l!le Members. Wrt/loUl im~jng III e
generardy of l!le Ioregoing, !he purposes of lhiS Agreemem include (al providing lor lIle
lnancing of tile COnstrucflOfl. management, mainlenance and ope ranon of lIle Sanparl<
and 1tIe COOSIrUCliOn of !he ln~aslruclure and !b! providing other tinancial assiStance lor
l!le beneru of tile Members.
Secllon 2.02, Creallon or Authority. Pursuenllo \he Act. Ihere is hereby
creared a pubrlC entny 10 be """"'" as !he "eanpa'" Joint Po ... ers Finance Authofily of
Santa Clara County. Calffornia,' The AuIhor~y shan be a public entl1y separare and
apart toom tile Members, and shan adminisler lIlis Agreemenl
Section 2.03. CommissIon. A governing board (consisling or one
cooncnmember from each of \he clly Merri>ers oIher Illen lI1e CiTy of Santa Clara end
lIle City of San Jose and Ihree counc.lmembers from tile CiTy of Santa Clara and !'Mo
cooncilmembers Itom Ille City of San Jose, plus, in Ille even! Shattlle County of Santa
Clara becomes a Member, one member of tile Soard of Supervisors of lIle Counly of
Santa Ciara and one member of tile Soard of Supervisors of !he Santa Clara County
Transit Oistrlc1), shan carT)" 0UI1he IuncflOflS of !he Autho<fty. The representatives of She
efty Members shan be appointed by lI1e City Counc~ or by lIle Mayor ",ttn lI1e approval
of lI1e CiTy Counci of eaell cny. The represematives of She Couhly of Santa Ciara, I
any, sIlan be appointed by lI1e Board of Supervisors of lIle County of Santa Clara, The
CommissiOn shan 8Muany elect a chairperson and a vice chairperson tJom irs
I116mbers1lip. The CommissiOn sIlan be called !he "Commission of lIle BaRparl< Joint
Powers Finance AUIIlorily of Santa Clara County. Calnorni •. " All voting po .... r of !he
Au1I1oriIy shan resicle in l!le Commission.
Eacl1 Commissioner shaR serve ar lIle pleasure 01 She Membe> ~i<:h appoinled
such Commissioner. Vacancies on lI1e CommiSSion shan be fined by lIle reopecVve
appainfing Members,
Secllon 2.M. Meetings or the Commission.
(a) BeOlllar Meefinos The Commission shan provide Ie< fts regular meetings~
provided~ howe ... er~ [hat at lea~ ooe regular meeting &11&:1 be fH3ld eacl1 j'ear+ The date,
!lour and place of lIle holding of regular meetings sIlan be fixed by resoluflon of lIle
CommisSion and a copy 01 such resofution sh an be ti led wilh each of !he Members.
(b3 Special Meet1oos. 5peciar meetings of the Commission may be caned in
IIC<:Orclance "'tlh tile I>'ovisioos 01 Section 54956 oIl1le Governmenl CocIe of !he Stale.
(c] Can Notice ancr Conduct 01 Meefioos. An meetings ol the Commission
1ncfuding .,ahOul im1aflOn. regurar. adjourned regular and speciar meetings, sIlan be
caned. noflCed. hel<l and conduCled in accordance will1 lIle provisions of SeerIOfl.
54950 el seq. ollila Government CocIe "'lIle Stale,
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~tion 2.0S. "lnUl ... The Secretary shan cause 10 be kept minutes I)( Ihe
meetJngs of Jhe Commission and sha". as roon as pOsSible stier each meeting, cawse
a cop), of the minutes to be forwarded to each Commissioner and-to each ~ the
Members.
SectIOn 2.OS. Votlng. fadl Commissiooer s.ha~ ha ... e one vole.
Section 2.07. OtJorum; Re"uTred YOles; Al'P'ovaTs. Comm,ssioners
holding I majority at the votes shan constitUle a quorum b Ihe 1fansacf){)n 0# buSInesS.
ftX~ that less than a quorum may adjOurn tom time 10 time. The affirmative .... otes of
81 least a majol'i!y of alT of 111e Commissioners shan be required 10 taKe any action by
the Commission.
~Uon Z.OS. Bylaws. TM Commission may aOOpt. from ~me 10 Urn •• s'Jch
bylaws, rufes and regulaflons for 1tle conduct o(.its meeflngs as are necessary b' 11'1e
pU!pOS8S hereol
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A FlTICLE III
OFfICERS AND EMPLOYEES
8..,Uoo 3.01. Chairperson, Ylu-ChaTrperson Ind Secrelary. n e
CommisS"lOn shan eTec..! a Chairperson and VICe ChaIrperson anc! shan appoint a
Secrelary"llM may. buf need not. be a CommissionOf. The offICers shan perform !he
du!ies normal 10 said ollices; and
<aJ lI1e Chairperson shan Sig,' an conlraC1S 01'1 beha" of !he Aull1o<Uy.
and shan perform such other duties as may be Imposed by Ihe Commission;
(IlJ lI1e VICe ChalrpefBOr1 shal ael. sign cortracts and perform an of Ihe
Chairperson's c!uf18S in Ihe absence of !he Chairperson; and
Ie) !he Se<:retary shan counTersign an contracts s)gned by !he
Chairperson or Vice Chalrperson 01'1 behan of lI1e Autho<i!y. perform such other
<luIi •• 8S may be imposed by 111. Commission and cause a COllY of !his
A", .. mentlO be filed with lI1e Secrelary of Slale of !he SlaIe pursuant 10 !he
Act.
Section 3.02. Audltor and Treasurer. Pursuant 10 &cr1O<1 6505.6 of lI1e
Act. lI1e DireclO< of F.,axe of !he Co-Jnly of Sanla C1ara Is hereby designated as tile
Auo'"rtOf and Treasurer 01 !he AUlhO<ily. The Au<frtor and Treasurer shan be !he
deposiIO<y. shan Mve cuslady of an of \he accoun 15. funds and money of !he AUlMr~y
from whatever source. shal have !he duties and cIl!igaflO<1S SOl Io<th in Sections 65O~
and ~.5 of !he At! and shan assure !h81!here sllan be strict accountabtTrty of an
funds and reporting of an receiplS and disbursements of II1e AUlMrfty.
Section 3.03. Officers In Charge of Records. Funds and Accounts.
Pursuant 10 SecI10n 6505.1 or lI1e ACI. \he AuditOf and Treasurer shan have Charge 01.
handle and have acoess 10 an aceounls. funds and money or Ihe AUlho<lIy a nd an
reoords 01 !he AuthOfi!y r.1afing !hereIO; and !he Secretary shal have Charge of. han<le
and heve access 10 an cll1er reoorc!s of !he Au1hcmy.
Section 3.04. 80ndTng Porsons Having Access 10 Publ~ Capital
hpfovement. from time 10 flme. 11'le Commission may designate persons, in a:jditSOn
10 Ihe Secretary and the Audilc< and Yr. asurer. having charge of. hanclitng '" having
access 10 an) records, funds '" accounts of Ill. AuIhoray. and the respective amounls
of the oIIiOal bonds of Ille Secrelary and1he Au<f~", anel Treasurer and such other
persons pursuanllo Section 6.'\05.1 of !he I\ct.
8ec:tlon S.OS. Legal AdvIsor. The Commission snan have Ihe power 10
appoinIlhe legal a<lvI$O< of Ihe Authorily who shan perform such dufies as may be
pascribed by Ihe CommlsSTOI'I.
8ectJon 3.06. Othe, Employees. The Commission shan have !he power 10
appoinl and employ such other consunaots and independent contractors 85 ""J be
necessary lor the purposes of Ihis Agreement
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Aft 0-' 'he privileges arl(i immunities 1,om riabHity. exemption from [a,,"'S,
ordinances and rures, an pensiO!~ reFief, cjjsabilily. workerS' compensation ar1d other
benefits which appl'y to the acti .... ities 0( oRicers, agents. Of empfo.yees of an Member
when performing (herr respec;1ive Junctions shan apP'~ to them 10 1tle same degree ard
exlenl while engagod in Ihe perfOrmance 01 any oIlhe Junctions and O!l1er dufoes under
this IIl1'sement
None 01 Ihe Officers. agenls, '" employees directly employecl by the
CommissiOn shan be cleemecl. by reason oIlheir employmenl oy !I1e Commission 10 ce
employee! tlY any Member 0<. by reason 01 their employment by \l1e Commissloo. 10 be
.~ 10 any oIl?le requirements 01 \l1e Member •.
Section 3.07. AssIstant OffIcers. The Commission may appoinl such
aSSistants 10 aCl in Ihe place 01 the Secrelary 0< 0111 ... offICers oIlhe AuthO<~y [olMr
than any Commiss'fQo.er) as O1e Commission shan from lime 10 time deem appropriate.
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ARTICl.E rv
POWEAS
Section .... 01a General Powers. The AIJthOfity shan eKercise in the manner
herein provided \he po16Iers common 10 each of the Members, specified In flis
Agreemenl and necessa:y to "" aOCOfTl!>lishment of lIle purposes oIlIlis Agreement,
aulljecl to lIle restric1ions set IofIh in Seer"", 4.04, including bUl no! ~mned to 1M
com""", po_ 01 eminenl domain willl respect to poor", Copilal Impr"""menls.
As provided in lIle Act. lIle Authority shan be a publ"1C anmy separete from lIle
Mantle'S. The AuIhoriIy sM n have "" po_ to finance "" COIlSlrlJC!ion. ma .agement,
mainlanance and opera~on of lIle PUbf"1C Capnal Imp<ovements. The Authorny shan
also have 1I1e power to eng age in an y aCliv~y and a.ercise any power aulhorized by
\he laws of 1I1e Slale, including I>u1 no! ~m~ed 10 !he issuance of ollIiga~ons, entering
Inlo agreements and \he acquisition and disposnTon of investments, es lIle AUlllorny
may deem necessary or !1esifable fa< lIle purpose of financing nolw"hstanding lIlal
such powers shan no! be fur1her opecif",any enu meraled in 1his Agreement
SecIJon 4.02. Power to Issue Aeven ue Bonds. The AU!ho!"iIy shan have
an.oI!he po.,er. provided in Article 4 of \he AcI [commencing wHh Section 6584).
Tnc!uding !he power to issue Bonds under !he Sand Law.
SecIJon 4.03. Specific Powers. The Aufhor~y is hereby a Ulhorized, in ijs
own name. to do an acts netossary lot 1I1e exercise ollila Iotegoing powers, including
bu! 1101 1m i!ecI to, any or an of !he tonowing:
(aJ to malle and anler InlO contracts;
!bl 10 employ agenls or employees;
[c) to acquire, construct. manage, main'lain or operate any buildings,
worJcs Of 'improvements;
(dJ to acquire. hold" or dispose oIlIle Pubf"1C capnal Improvements;
(el to sue and be sued ir; ~s own name;
(fJ to incur debts, fial>1Hies or ollIig~on., provided lIlal no dell!, Hal>1Hy
or obf"tgaIion shan constHUfe a dell!, Iab<Trty or obf"ogaflon 01 any of !he Members;
(9! 10 apply fa<, accept receive and disburse granls, loans and olller
aids from any agency of !he UnHed Slales 01 America or 01 !he Slale;
{!llto inveS! any money in !he treasUfY pu<suanr to Section 6505.5 01 the
Act (hat is not required tof 1he immediate necessities 0: the Author.y. 88 the
Authot'iJy determines is advisable. in the same manner and upon Ihe same
conditions as Toeal egencies, putsu ani 10 Sect"oon 5360 I 01 \he Governmenl
Code oIlIle Slale;
(i) 10 apply fa< lener. 01 Cled"~ i"I order 10 secure lIle repaymenl 01 b
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Bonds and enter into agre-ements in c-ormection lhere .... 'ith~
m kJ carry out and Brrforce an the provis~ns DIlhiS Agreement;
Ckl10 make and' enter info Bond Purchase Agreemef1ts;
(Q 10 purchase Obligations issued by any Member;
tml10 levy and cDnect (il a utmt~ users tal( unii04"mfy 1hroughO\Jt ihe
Jurisdictional Area 011119 Autllor~y and (ii) a parking la' althe Banpark only. lot
the general governmental purposes of Ole Aut!"',orily as K:tentlfied m th~s
Agreement. subject 10 lhe approvai by the volers of a banet measure
subslantiany as set forth in subsection en}, in O1e manner required by taw; 1he
term "1axabre utility services," as used in subsection en). means electrical
energy. gas, telephone, wa1er. sewer, garbage. rubbish. cable television and
nwogen gas services provided wilhin each of the Members;
tn) 10 can and hold an eiecflOn within ttle Jurisdict10nar Area of ttle
Au!h"'~y lot 1I1e purpose 01 approving 1I1e fevy 01 taxes pursuant 10 subsection
em). the barto( measure at said elecfton to read substanfian¥ as k>I1ows:
"Shan 1I1e Ba nparl< Aulhorfty build a nd operate a Major league
ballparl< in San!a Clara County and fevy a parking la, althe ballpark. as
wen as a utJ rlly users tax ot not mOfe 'han one per cent of Ole charges
made for an taxable utility 8elVices. provided, that 1t1is 1a" on electrical
utilities shan no( be Jellied on the first $50.00 per month of residenl~a'
eleClr~ar services; aTso, this tax shan nO( be levfed Jot residential users
of less 1tIan "Iiferine"' service levels on cOler ulilitfeS?'"
(~10 cooperate and conlract with fhe Stadium Joint Powers Authority tor
the ownerstlfp, management, mainlenance and operation of the Ballpark and
related improvements; and
~ 10 exercise any and an other powers as may be pwvided in the 8000
law.
The enumerafioo of the pJ ..... er )Q levy a utility users tax and ba:-Jpark
pa~king 1ax in subsection {mJ of this Section 4.03 shan not be construed 10
preclU<1e financIng by OIhe1lotms 01 taxanon by 1I1e Au!hor~y. including without
limi1afK)n lransacfion and use 1aKes in the e'tent ine authorit~ 10 do so is granted
by Ihe State legislature and by approprTale amendment 10 1his Agreement
SectTon (.04. Restrlct""'s on ExercIse 01 Powers. The powers o! She
Authority shan be exercised in the mannef provic::fed in the Act and in ~he Bond law,
and. e,cepllot Ihose powers set Ior1h in 1I1e Bond law. sha~ be sutlject 0n acco<oance
with Sect;on 6509 of [he Act:) 10 the restr1ctions upoo U1e manner of exercising such
po .... ers that are imposed upon [he general-law-cify Members in O1e exercise of Simflar
powers"
Section 4.05. Obngatk>ns of AuthorTty. The debts. ~abmties and
obIigaftons 0I1I1e A"thortty shan no( be 1I1e debts. 'abirrties and obI"ga!iOOs 01 any 01
!he Men\bers.
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ARTICU V
METHODS OF PROCEDURE; CREDIT TO MEMBEIIS
Section 5.01. Assumption of ResponsfblllUes 8y tile Authority. A.
lOOn 8$ p<aeIitabte aII.r \Ile \Sale 01 exeC\l\ioo 01 \hiS AII' .... rnen~ \Ile CooIrnissioner.
ahan give noUce ~n lIle maMar required by Sac1ion 2.03l of Ille organizaflOt1al
meeting oIl1le C<lmmission. M said mee~ng lIle CommIssion s~an p<o'ide fa< h
regular meeungs as requireo by seer",n 2.04 and eleel a ~airperson and VICe
~airperson and appoint a Secretary.
Secuon 5.02. C.ed11 to Members. An eceounls 0< funds crealecl and
8slabIishe<l P<JfStJanll<> eny truS! agreement 0< indenture I<> w!1lcllllle Authonly is •
party. and any Interest earne<! or accrued \!lareon, s~a" inure I<> lIle benefil oIl1le
respec!i,e M8tTi>ers fa< w!1i¢l1 sucI1lunds or accounls were crealed.
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.tJ! TICt. E VI
CONTRIBUTION; ACCOUNTS AND REPORTS; fUNDS
Sectlon 1,01, ContrR>lJtlOns, The Members may in !he approp<iate
circUfT',stance '6It1en required l"lereLtnder and \0 1he extent Jegafly pcss~le under
appliCable Taw: (a) make contributions from !heir "easuries "" !he porposes set Iorth
herein, Ibl make payments 01 pubrlC funds 10 oo~ay!he cost of such p;Jrpcses, (e) make
atlvances 01 pubf", funds "" such purposes, such advances 10 be repaid as proviclOO
herein,. C1 to') use its personnel, equ~enJ: Of prcperty in lieu of o~er COf1triOut'ionS Of
advances, The provisions of Government Code 6513 are Mreby irCorpcxated inlo Jhis
Agreement
SoctJon 1,02, ACcOUnis 800 Reports, To !he exlent not covered by !he
clules assigned 10 a lruSlee chosen by Ill. Aulhor~y, !he Aucr~()( 01 Au1h()(~y shan
establish and mainlain suc'h funds and accounts as may be requTre\1 by good
accounting praefics or by any provision of an)' trust agreement or indenture entered
into wM respecllo lIle proceecfs 01 any Bonds issued by the Au1h()(~y, The books and
records oflhe ALIfhority W'I the tlands of a tru~ee 04" 1he ALXfl10r and Treasurer $f'1an be
open to inspection at ,an reasonable times b)' representatives of (he Members. The
Aucruor and Treasurer of the Authonly, within 120 clays after 1he close of each Flscar
Year. s"a~ give a corr.ple1e written report or af! financiar acUvitles fey such FiSCal Year
10 the Members 10 the extent such acflvit'es afe not co\:ered by 1he report of such
trustee. The 1rus1ee appointed under any lrus! agreemenl ()f indenrure shan establish
suitabTe fur.cfs, ~rnrSf1 financiai reports and provide suftabTe accountir;g prcx:ecJureS to
carry out U1e provisions or said trust agreemenl Of indenture. Said trustee rna)' be given
such duties in said trust agreemenl Of indenture as may be desirable 10 carry out this
Agreement
SectIOn 1,03, fun<ls, Sulljec! 10 Ihe applioable I"'0VISIOl\S of any truSl
89'1'eemenl or indenture wtlich the AuthOl'fiy may enter into, w"hicn may provide Jot a
.rustee 10 receive, have custocfy or and diSbul'se Author~y funds, the AuditOf'" and"
Treasuref of the ALJfN)riry shan receive, flave the custody of and disburse Aufhoril}'
funds as nea"')' as possible in accordance witl1 generany accepted accounting
pracflCeS, shan malc:e 1he disbursements required by thiS Agreemenl 0( 10 carl)' out any
of She pl'ovrslonS Of" purposes cI this Ag reemenL
Section 6,04. Annual Bu<lget an<l "'''mfnfstnt!Ye EKponses, The
Commission $1lan adopl a budget tor administrative expenses, wniCh snan include an
expenses not if.ck.tded in an)' Bond issue of 1he Authority. annua"y priOf' 10 March 1 of
each reaL The esfimated" annual administrative expenses 0( 1he Authofity incurred
pri<>< 10 !he clale 01 firs! Conec!iOl1 01 taxes by !he Au!hortty pursuan! 10 Section 4,03(m).
shan be aliOcaled by the Aufhofily 10 Ihe Members in proporHon 10 the contributions
made ~ 11"Ie parties \0 the Sla~um Joint Powers Authori!y_ An)' amounts paid by ltle
Uembers 10 the Authority 10 cover such expenses sMan be refrrbursed, without interest,
10 each Member tom U1e first procee<1S of taxes received b~' the Author~)'.
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ARTICLE VU
TERM
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Sectlon 7.01. Term. This Agreement s~an become elleclive as of the clale of
8xeevlion hereof by parties representing a SuffICient number oIlaxpaye,s 10 produce
proceeds 0I1he ut~ny users lax equaTIC> a1 leasl sevenly-five per cent (75%1 oIlhe
.. nels 'equlred 10 accomplish Ihe flnanclng, and shan continue in tun Ioree and eflecl so
long as any ObrJgaflOOS of Ihe Members and "" Bonels issued pursuant hereTO and !he
inlerest lhereon shan have been paid in fuR 0< &<1equale provlslon lor sucl1 paymant
shan hava been made as set Io<!I\ in lila proceedings lor !he iSsuance Ihereof and any was are being levied pursuanllo Section ~.03(mJ; prOYided. Ilowever.1I1at (oJ I said
'3ords flaye been paid in '-rlI 0< adequate provision lor such paymen!s has been made
in 8OCO<cIance ... ~h!he proceedings lor 1I1e issuance thereof. and taxes under Section
4.~3{mJ ara no longer being levied, this Agreement sr.an automaflCany terminate, and
{b! t,;" Agreemenl shal terminale Ihtee (3) years from Ihe clata hanaof in tile event no
BonOs Man flave been issued by 1I1e A~y on 0< before sad clale under "" Bond
La ... ; prQ./ided. furth .... !hat luch aulomar", lermination may be waived by an of Ihe
"'ambers and Ihe term of !his Agreement a><lended lor such addit;onaT period as may
be agreed' upon.
8ec1lon 7.02. Dfsposrtlon of Assets. Upon termination 01 Ihis Agreeme nt.
an p<operty "'lhe Au!hon1y. boIh real and personal, shan be (Jvided among the parties
h erelo In such manner as shan be agreed upon by Ihe parfoes.
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"RTICt.E VII!
MISCELL"NEOUS PROVISIONS
Section 8.01. Notlces~ NotJ.c;es hereunder shan he in writing and S1'I81'1 be
sufficient if deTIvered 10 each member at such address as may be hereafler be
provide<!.
Section 8.in. Section Headings. All section tleaotngs in this Agreement
are b' convenience of reference only and are not 10 be construed' as modifyin-g or
9Ovem1ng the Eanguage in 1he secfion referred 10 or to 6e~ne Of rimit trle scope of any
provision 0( thiS Agreement
Section 8.03. Consent. Whenever in fI1is Agreement any consent or
approval is required. the same s11aTt no( be unreasanabf)' withheld.
Section 8,0(, Law Governing. This Ag'eement is made in !he Stale unde,
lIle =IMon and laws oIlIle S1ale and is \0 be so eonslrued.
SectIon S.05. Amendments. This Agreement may be amended al any time,
0< flOm ~me \0 flme •• 'cep! as n m~ed by contract with !he holders 01 Bonds iSsued by
lIle ALJ!horHy 0< certlficales 01 partic;paflOn in payments \0 be made by lIle AuthOfrty 0<
the Members Of' by appftCabfe regllrations 04' laws of arry jurisdiction having autnOfity.
by one or more suppJementaf wrmen agreements executed b)' an of rtle parties 10 (hiS
Agreement either as requTrecJ in orcfef 10 .carry oul an~ of the provisions or this
Agreement ()( Jor an)' other purpose. including without limftafion adcfrtioo or new parties
(incflKfing any legal entities Of taKing areas herelofore Of hereafter created) in
pursuance 01 !he purposes 0I1I1is -'gr.ement
Sectlort 8,08. Enforcement by ""thor~y. The Au!Oority is ~ereby
authorized 10 take any or an legal Of equitable actions, including but not limited 10
injunction and' specir~ performance, neceSSB-r:t Of permitted by Taw 10 enforce thTs
Agreement
Section 8,07. Se.eraMlty. Should any part, 1erm 0< p'ovision 01 this
Agreement be decided b)' any court of compelenl jurisdiction \0 be iI1egal ()( in con~jct
with any Taw of the State. ()( ofherv.'ise be rendered unenforceable Of ineffectual. tf1e
.. arici1y oUhe remaining portions Of prOViSIQ(1S shan not be affected Vlereby.
Section 8,OS. Condltrons 10 "pprovat. The authorizar",n and approval 01
Ihts Agfeement b)' any offle Members may be made subje....""'f k> reasonabfe corrcfrtions,
including without ~m~afion tile lIppIoval by the v"'ers 01 any Member 01 speciar banO!
measures at any elecOon.
Section 8.09. Successors. Tnis .Agreemern sfla~ be ~ndir,g upon and shal1
in\ire '10 Ihe beneftt 0( 11'Ie successors ollhe respective 'Members. None of 1he 'Members
may assign any right ()t obfigaVon hereunder without I"e written consenl of the other
Membels.
IN WITN1:SS WtiEREOF.lhe parties here.c have c.used !his "'g,eemenl \0 be
execllfed and attested bJ' 1he~ proper officers Ihereunlo duj~ authori.zed aOO their
offICial sears 10 be herelo affixed, on the day and year set oppos~e (he name of each of
!he parties.
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APPROVED AS TO FORM: CITY OF CAMPSELL
By. ______ ~~==~-----
City AIIOfney
ATTEST:
8y.. ______ ~~~---------
City Cieri<
APPROVED ,t.S TO fOftM:
8y:: ____ -=--= _______ _
City Attorney
ATT~ST,
By. ____ -,~~.--------
City Cler1<
APPROVED AS TO FOftM:
BY:--------:Cit"'·,-y"AII=o..,,=ey.,----
ATTEST:
By: _______ =:_
City CIerI<
APPROVED AS TO FOftM:
By: ____ ---,..".==:--__ _
City Attorney
ATTEST:
By: _____ -,~~~-----
City Cler1<
By: _____ =-.-.::===-__ _
C~y Manager
By:-----.M·;::-ayc:or,,------
CITY Of MILPITAS
By: _____ ~~~------___
City Manager
By: _______ ~~------
Mayor
CiTY Of MOUNTAIN VIEW
By:. ____ ~~~~---___
City Manager
By:-----;M··.:cy-=orc------
CITY Of PALO ALTO
By. ___ ~~~~--_
City Manager
By: ______ ~~--___
Mayor
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APPROIIfD".I$ TO FORM:
8 Y:---""""""Cit"y--.AII"'o::-:r""ne"'y----
ATTEST:
APPROIIfD AS TO FORM:
8y: ___ -=_,
City An""om=.'-y-
ATTEST:
8y: ___ ~
City Clerk
APPROIIfD AS TO FORM:
8y:~--=,-r.== __ _
City Attorney
ATTEST:
By: ___ ~~-~~----
City Clerk
APPROIIfD AS TO FORM:
ATTEST:
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CITY OF CUPERTINO
8y: ____________ :-__ _
Crty Manager
By: __ _
CITY OF LOS ALTOS
By: ___ """,,== __ _
City Manager
By: ____ ~~----
May",
CITY OF SAN JOSE
8y:-----.-o:ccc
City Manager
CITY OF SARA TooA.
By: ___ ,...",,== __ _
C~y Manager
By: ____ "-~----
'MayOt
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N'PFlOVED AS TO FORM: CITY '* SUNfllY\lALE
By:-__ =:o.:::=-:-:-__ _
City Manager
ATTEST:
8y:·--------~M~a~y~~---------
API'fIOIIED AS TO FORM: orv Of SANTA ClAAA
Br-____ ~~~~-----
City Mornay B~ ______ .~_..~-~----City Manager
ATTEST:
BJ. ___ -,~~----
Mayo<
ATTEST: DONALD lot RAINS COUNTY Of $ANT A ClAAA
8~ ____ ~~~~~~-----Oerl< oIlhe Soar" Chairperson
APPROVED AS TO FORM & LEGALITY:
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AUG e1 '90 1~:11 jONES~.H:LL
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RESOLUTION NO. __
A P.ESOlUTlON CAt-LING A SPECIAL MUNlCIP"1. ELECTION
WITHIN THE CITY OF ==""""=-r-==-= fat THE PURPOSE OF FINAN¢\NG "BALL Ii AAK IN THE
COUNTY OF SANTA CLAAA AND PROVIOINCl "OR ITS CONSOUOATION
WlTK Tl4E S1""TEWlOE GENERAt-ELECTION
8E IT RESOlVED, by 1h9 Cooncll 0I!h8 Cily 01 _____ , .. follows:
Sec!IoI1 ,. Can of (1"""On A epeelll munieipalilacllon III hereby calle" Inel
orde,ed 10 be ~e1d in \ha CIty on luNday, N0V9mbel &, IWO, aI whlc!1 .lec1Ion 11\" •
• hall be etilmltted 10 !he quelifled YOIefS oI1!le CIty ". ~1!Jon IlelIo<1h belo .. ,
See110n 2. The propoei!lon .h.n aWN' on !he barrol lor uie!
tPtClll munlOipal following Iorm:
'ShaH 1118 Cfty of join !he 8lnpe~ ,lQlnt POW.Il
Finance AuIhorily of 1he COunty of Sinta Cllr., and , 10, .~e n lIle 8allpark
AuIhor1Iy build end opera'le I Major League ballpark 111 Sanll 01 .. County and
revy • parlIlng lax B! Ihe ba",,"r'k, .. "1 II a LItIf1ty u .... tax of no( more IIlan
one per oenl of Ille charQ98 ... .ada for all taxabfe utllily l8I1Iioes, prov1ded, !hat
till. tax on eIecIrlcaI utilitiel aha! no( be lev!e" on Ill. Ira! $!C.OO per mon!tl 01
resiClenlllll .laClnea1 HMoas; alea, "II lax ahan no! be 180led lor I8IIIclenlla1
UN" cA len than 'IIferrna' eervloe IeveII on oIher utilities?"
Section s. &flmllsIOO-Inlftrll The Councl doeIl!ereby .ubmUo "'. quallfled
VOl ... of1he City, aI aa'd epeel.l rcu"'e1pal eIec1!on. !hla I'!B9oluflon In~ lhe propoeiliOn
eel forlh In Seo!lon 2 ~eraol. The City propoeaS 10 beocme • Mamber of the Sanper!<
JoIn! Powara Finance AII!horiIy of 1111 Count)" of Senll Clar. ~he 'Ba~r!< .... UIhorty") •
• majOrI!y 01 .~ QUallfled VOle .. \IO!Ing on 111. propo$ltIon eello!tl1 above VOle Tn favor
1hereot
Saclion 01. pPIJ. Open. The pelle lor .. lei eJecIIOn ,han be operlel1 al teIIen
o'Clock A.M. of "'a day of laic! eTec!Ion Incllhall remain open oonfinUOlllly from IIld
IJrIIe unlllelgl!( O'clock P.M. cAllie 18me d.~en .. 1eI po!Illh,W ba _, eleep! e.
ptcMded "' SecrIon 14301 d I~e Electlonl of tne Sllle of caillomia.
Secl10n 5. ConaOOd,tIoo With $t.'gTde Banera! EI,GUgo, The epecial
mUllfclpalerec!lon ~'reby caned lor fl' da!e ~."lnbafore apecl!l8cl ,han 1>8, IncllS
bereby, ordered conaolldaf8C1 w11h the lIaIawldo g..,eral 9T'clion 10 1>8 Mid wIlIIfn the
CIIy on lalel Clate, and wflhin lila '.rnlOfy .fteclec! by 1111 coneolldallon, !he elec!Ion
IliaD be held ancl OC>ncIuCfad, elecflon officera appoln!8C1, VOIing precincts _1gOIl..,.
banDIt print.". pons opened ancl ClOt"', banofs CO<Jnted and "Meed. relurns
canvassed, reau"," (feer,red. and In plhor prooaedinga tlcldonla11O Ind (;OOnec!ed
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wflIlllle eloc!lOn !~en be rlgulated ar')(! dono In aecorclanct wnh 1/18 pro,lar0l11 of law
regula~ng the s!a!ewide general .Iec~on and apecified ~ereTn. The Boare! Of
aup.rvieora of Ihe Counly of San!. Clara ia "ereby 'equ.lled 10 order tt1.
conaolk!arlOn of 1111 apeelal munICipal e!ec!1on hareby caTIed with IIId at.t .... lde
gone'll election, .tId lI1e !loa reS of SupervIsor. 01 the ColIni)' 01 Santa Clare 18 hereby
IlIIllOrfzed 10 can, ... llIe 'aturn •• tId ClecTI'. Ill. 'eaulls of "" epeelaT municipal
elecllon. The moa ..... 1\Ibm1llaCl by thla ResoILlIiOn ",.n be clul~nl!ed on lila bonO!
by • let!er prfl1!oc1 on !he left margin Of Ihe aqua,. contllnlnQ 1M deec ripllon Of the
me"I"', II p<OYide(Iln Sec!Jo!lI 021 i oIth. Elecllcns Code 01111. Stare of California,
Section e. A. If Pop ElogIlgn. Thl eToeIIona ""rll>y oonsondeted .h.~ be hald
In all 'espec\J al ( lI1ere .... re only one .rectlO<1, Ind only on. form of bono! "'an be
Uled.
Section 7. VO!fno QUIUfjc§tlgn. M pereonl qUIUI!e(! 10 .011 at general
munTclpal al,erlOna In 111, City upon the elate 01111. e1ec!lon herein provlQ'ed lor ahan be
Clua!lll.~ 10 .at. upon lI1e pr~1tioo .ut>mltled 81 Hid specl.1 .leetlon.
Section 8. 2ilIIlIa. Ba1Tota for tne elllCllon ah.~ be prOvided In tho form .tId
number prOYlded by law. On lOla bo1Tota, In additiOn to any other priMed m.~er whiCh
mly be ,equire~ by , ..... t ... o IIOIln; aquar" a~ln b. HI of! 10 Sha right Of Iho
proposition submitted a! the alec!1on. in 1M manner provided by IIW, on. having !ha
word 'YES' p<fnled D810re .. and the other navT"I)ll1e woo! "NO' printed befora it
Section e, Mi!!bod 01 Wno' A!I!hprko!!go pi AorHment Elc1I voler 10 ~e for
the propoaltion 1111. lIIamp or wrne • cross. or 1ndIe&!. by M!t punch or other moans,
In Ihe blan!< opaoe oppooft.1he "'Of(! "YES' 011 the balTol to the ~lI! d 111. proposn1on;
and ea~ VOIer to 1IO!e .glint! the prcpos1tion ah.~ a!amj> or wr~e I CfOI$. or indica!.
by hole punch or O!Iler means. In the blanlc ~ OIlPOtftt 1118 WOrd 'NO' cn the b.~01
to 1ha (f9hI Of the propoel!Jon. If. majOrl1y Df Ihe 110!8" VOle !or the propolftlon, the City
Iflal beoome • Member o! lI1a BaJpart AU\horiIy and 1118 Mlyor and City Manager are
aU!l1orTZed to execute and the City Ole'" ill aUlhorfZed to anestll1ei! IT''"aturo. on the
JoInl Ex.rcTse Of POWI" AgreameN "I.fin" 10 tne B.~parf< Au!ho<Ity. eSated as of
Aug\JII " 1990 and on iI. in 1111 o!!\ce oIth. CI!)! CI",k.
Section 10. IlrllloQ. TIIi. ,esoluoon I~an be ldopted and cerlified Copl ••
1h.leol.hai be flied w~h the County Board d Supen.1s"'l and County CI.'~ 01 Saot. er.,. Courdy. on or beler. August 10, 1m.
Sact10n 11. PqhrWgn. Thla reso!\Jl!on ahln D8 pubflahed 0<100. week lor two
lucc.oolve .,aaka prior 10 111, CIotl let for lI1a elec!lon In !he • a
newspaper Of genar.I orrcul.Von printed and published In !he C~y, lh. ~rot 01 w~i<:h
lhall be no! leas lIlan II1Trty (3Ol days pllor 10 Ihl day of .1~cn.
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THE STADIUM JOINT POWERS AUTHORITY
The Economic Impact of
the Proposed Santa Clara Ballpark
July 1990
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Oeloitte &
Touche
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I. EXECUTIVE SUMMARY
ProJect BackgrQUnd
The San Francisco Giants have been activeIv ~e1cing to relocate !rom Candlestick Park t.o a
modern state.m-tbe·an facility. In earl)' i989. the GiaJ.Jts had t'No acceptable sites -The
China Basin Area in San Franruco and a South Ba~ sit. in Santa Clara. rn the fan of 1989,
the narrow defeat of Proposition P effectively e!imina:.ed tbe new stadium option in San
Francisco. The alSCUSSions around Lhe Santa Clara location wefe tben iotenslfied. The
Giants and the City of Santa Clara dlscussed the possibility of developing a site adjacent '0
Highway 231 on the Great America Parkway.
As interest grew 'Within the County of Santa Oan. .. the County and its municipalities created
[be JoIot Powers Authority to study tn.e econo-mk impacts of the potential addition of a
baseball stadium and franchise. Subsequently, the Joint Powers Authority enoaged Detoine
&: Tou.che to prepare an cconomk impact study of a Giants· bas:ball ballpark en Santa
Clara County as I whole and the specifiC Impacts on ea<:b JPA member municipaTity_ The
remainder Of this [e~ estimates the ecctnomic benefitS and C05t5 to each :or the IP.-\.
municipalities and the County.
Professional franchises contnoute to an area"s overaH economic bealth in ma.nv Vw'avs. In
addition. there are o<:ber. Jess tanglble be~dits as well. ~fajOC' League Baseball createS a
level 0( interest and recognition in an area which otherwise might not have existed. A
portion of the ne'Nfouod interest will result from ce\l,'spaper articles lind television and radio
coverage. DOt only in tbe U.S ... but oven.eas as v,reIl, that refers t-o the Santa Clara ballpark.
The interest created by this name reco'O!rution effectS the area"s tourism and travel mdustr ...
as ~'en as creating a funner sense of pri-de fQrf the region. A!tbougb these benefits are ;J'n
impon,ani: aspect of the impact OD the Mel.. they are difficult to quantify and ar~ theic:cre
nO( clS4.."Ussed ~ tbis repon.
St&cflum Site
The proposed stadlum site in Santa Qara is comprised of 120 acres that ""ere identified by
the Santa Oara Stadium Task Force. The site is located at tbe intersection {)( the Great
.America Parl.'"Way and ffighway 237 and consists of two major parcels -with a third .smaller
parcel ktentified for O\'erflow parking. The site also provides access to High\io"ay 101. south
on the Great Arnenc.a ParlNray.
The proposed suoium will have beru.reen 45,000 and 50,COO seats. The stadium ",ill Ulclu.ce
4,000 Special Loge Seats and 120 Luxury Suites. As de>cribed in the Giant; proposal. "A
Plan for the Santa Cl ara Ballpark", the proposed state-of-the-art facility ",ill
"combin.~ modern ,ouches such as "I4'ide walkways, large restrooms. accessible con.c~ion
stands as ... el1. as a modem. scoreboard aru! videoboard M.ith trcuiaiona! bal1park inrima0-
between rlll! fans tuld tT" playing field. "
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Summary of ResLtrts
The ley results (){ this study are p,reseoted in Exhibit 1 (Pagf: 3). These results are
summarized into four table. WIthin Exhibit I and are descnbed below. All donar ligures in
Exhibit I are stated in curren! donars (1990j.
J. Counly-.rotk Impact
On • County-~ide basis. tlIc C'On5tnJ.cooo 0( the Santa Oan Ballpark ~'as estimaled 10
generate a one-time impacs oC SI49 million and employment foe 2,173 Over Ihe proposed
construction period. Over tbe course 0( tbe propos:d 30 year stadium lease. the GLants
franchise and ballpark was estimated to generate lou! annual recurries economic output of
588 mIllion ~r year with total count:'-v.id_~_ employm~nt 0(697 per year. This economic
implCt is net of $].3 million of econonuc output generated b!, the San Jose Giants.. The San
Jose Giaots output was netted OUI sfnce this francbise would be requ~red 10 relocate out of
Santa Clara County if the San Francisco Giants move 10 the proposed stadium.
2 JFA Tax-Revenue
The c!)n5rruction of the bafl.E,.ark and the operations of the Giants will generate s.a1es ta.! and
transi-ent occupancy tax (TOT) receipts for each JPA jurisdktion. To-tal sales taitt's
generated by the banpark~5 construction ... ·as estimated to be: 52.5 cu1lion ever the course of
the construction period. Of this amount, $15 million (60%) and S:;oo thousand (109",) >'as
estimated to accrue to the County and the rest of the JPA jurisdictions, iespectively. The
balance oC the constru~tlon sales taxes of app.-oxima«ly S7SO thousand (3O'i<) represents
estimated sales tax recetpu on material purcbases that were not aUo<ated to JPA
jurisdictions because of numerOlls llnkno,,'"os regarding the potential points olpurc:hasc.
Over the course of me proposed 30 year stadium le~. the Giants franchise and ban park
-a.'as estimated to gen.erau: total anno3t recurring sales ta., and TOT receipts of
approximatefy $1.0 ffi.Lllion per year. Tv. a methodologies were used to es.tlmatC' and anOClle
these revenues to each JPAjurisdIction. As sho,,"'D in Exhibit I, the methodolO!)' L!sed b:as
varying degrees or effect from municipality to() munIcipality. In aggregate. the transportation
corridor methodology results in a marginal increase in annual receipts.
J. Annual FixaI COSI5 <We ro Bal!park OperarionJ
OVer the COUi$t of the proposed 30 year-stadium Iease, the Giants. francoise and ballpark
,ras esURlated to e.enerate lotal annual rec'..lrnr::e. f.scal costs of $.800 thousand to the Counrv
J.r.d 5':cN :;-;CL;:5~::"2 :...:; :.':e :-::~ ;".[ S_:::...;. c::....:;;.. l.:e ':::53:': :!:.: Cc:.;,:-.:". re;::;:::..:::r ::\::-: ~:.:.;
and light rail Stn1Ce 10 the. facility on game day. The costs. to the City or SanTa Oara are
game dav police requirements for security and traffic controt It should ~ nOted that !he
negotiated lease be""ee" the JPA, the City and the Giants could stIpulate that some ponion
oCthe polke costs be absorbed by the franchise rather than the City .
~ Alternative Uses
If the proposed stadium site ~'aS developed alternatively, the C~I)' of Santa Oara and tl!(
other JPA jurisdictions wouI-d receive significant one-time and/or annual revenues. The
benefits of [wo alternative uses lIt'ere estimated -a botel and/or a re~ • .aI sbop~lng mall
The potential revenues to the C~ty of Santa Oara are snol,l,'D in the table within Exhibit 1.
The on-S0ing income generated bv a shopping milll and botel are subject to numerous
eccmOmJc and financiil factors. th~ hoters Of m.lll's reasibili1)' was not studied ilnd the
figures presented are strict!y a frame 0{ rer.erence for analysis...
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SANTA CLARA BALLPARK
EXECUTIVE SUMMARY
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$149,040,000
EmplQyment
2.'73
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Exnibit 1
T,.I\!~@S(On-Golnllf··.····
Giants Operalions
·~·~.GiiiiiI$ .
Total Team Operations
2 JPA. Tax hveDue
'MuniciQa.lity
[campbem
Fupert1no
!,-O$ Allos
MIlpitas
MountaIn View
~aIOAlIQ
San Jose
E
tsanta Ciara
aratoga
unnyvate
~ounty
i'JnaJTocated C;,y (1)
TOTAL
ConstrL.lC!ion IOna-time)
Sales Tax Sates Tax
AI1ocatTon
56,852
9,324
5,592
9,324
12,38'
12,384
'41,492
17.436
5,724
21,828
1..!5U,674
745,200
52,507.214
Percent
C3~
C.4'H
C.2'11
0.4%
0.50/0 C5~
5.9;';
O.7%j
O.2%j 0.93'
E04%
29.7
'00.0%1
3. AllDU2l Eisa! Cosrs due ID "&l1pui Opentions
lItem I
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ES7 I
Operations Total Tu: Revenue rOn-going) ,
s.se MetbodoTogy I Trusporbliotl Comaor I
Anocati Q I1 ~ Aliocation Fe~cent .
$11,701 12% 512,491 '3~'';
10.051 1.0% 10,9C4 1.1~
3,EOO C.4% 2,810 03%
35,377 U'i 42,158 4 2'~
29,366 3.0% ~4.4B9 2.5="Q~
25,208 2.5% .24,097 2.4O/C!
188,532 19.0% 195.323 '9.6~"
253,215 25.5%1 2<9,664 25.1":
2,283 0.2%1 J,689 02~',
94,4n 9.S~ 90.S45 g.l:l.'cl
340,'32 34.2%\ 340,432 34.2~'1
NlA NlA I NlA NJA I
$994,248 'OO.O~ S994,9lJ7 100.0C:.;,i
Municiparitt
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land Sale
ISllO<>cir.o Center
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lease Revenue
$900,000
Tax-& TOT Flevel'1ue
$1,155.000 .
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SUl'l!lAR¥ OF IIEMORAllDUH OF UNDERSTANDIlIG
EETWEEN JOINT powERS l.UTHORITX Mll __ ~ FRANCISCO GINns
It 1. the intention of the pArties to enqa.qe In exclusive
900d faith ne90tlations in an .ftort to agree upon. II form of
cperatinq lease (the 'Lease") for a baseb.ll park ("aallpark") in
the city of santa Claro (the "City"). The .xpectaticn i. that the
negotiations will have. been cODlpleted by Novel!\ber 5., 15190.
However... if tbe n.90tl&ti~s are not completed by .a!~ eate, bu~
the parties ~re ~tinul~ to negotiate ~ith due diligence., tte
neq<ltiatlons 'Will continue for an additional forty-five (COS) dal·s.
con-ourrently with this MOO... the JPIo. 15 neqotiatlnq II
memorand·uI'Q: of understanding 'With Spec~acor .MaMel'gem~nt Crcup ("SKCi-)
fot" 5ervJ.ces in connection 'W1th the design .. developnent" aT~d
construction of the Ballpark and is n~90t!!t!nq a ~emcrandum of
understanding with the City for a 9ro~nd lease (wGround Lease-J of
the Ballpark realty.
the
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city and
PremIses. The pre~iBes consist of certain lands
of LesHe Sal t Co. The city .. ill have the right
of
to
substltuta other of its land for parking purposes l subject ~o the
reason~ble approval of the Giant&.
2. fil.:II. The t.erm of the Laase: i& for a period of
thirty (30) years commencing 'With the first baseball season ..
anticipated to be 1994.
The Giants al~o have the right to re.new tbe Lease for t .. ,o
(2J successive five (5} year periods l each renelola!.. being conting:er:t
on the Ciants havlnq ~ch!eved a miniK'lum average attendance over the
prior five (5) year period.
3. &!!t. All rent to be pale! by the Giants to the JPA
shall constitute a .~are of revenua.
3.1 ~j: Sales· Five percent (5\) of gress
rev.r~.s received from the first tw~ million {2.0~O"OOOl attendees
of paid adlTlluiens in .ach year and eight percent (n) of the gross
revenues received from pal~ admIssions in e~ceS8 of t~o aillion
(2"OOO,GO'OJ attendee ••
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:S,2' Ii\HCury Sexes/Loge Seats .. Twent.y percent {20'}
cf th~ .nnual rent collected on all luxury bo~es and loge seats ..
3.3 r??d. Bevttooe, Merchandise Dnd pyhlSpottons.
(a) Five percent [5\) of gross revenues of
food... beverage... aerchandise, and publications at t.he Ballpark
(.~cluslve of catering and 5ales in any stadium club. luxury bo~e5
and loge seats) durin9 baseb311 events ..
(b) One bundr~d percent (H10') of gross.
sales of food an~ beverage at the Ballpark ... exclusive of sales in
any Itlldium club, less the vendor's .. hare... during nor.baseball
events. five percent (st) of gross .oles of fooi o"d beverage in
the luxury boxes a~ loge seats during nonbas!bell events.
(clOne hundred percent {UO'J of net
revenoes of food and beverage. ~embershlps and/or door charges in
any stadium club durln~ any n~nbaseball event.
(d) FIve percent (5\J of net r~venues of
merchandise in any retail store at ~he S811park ~ade wben ~ event
i. taklnq place.
(el Five percent (5') of the net annual
revenues In excess of Fifty TbotlsaruS Dollars ($5~,OODl collected
by the Giants from any bealth club operated at the Ballpark.
(f) Five percent (5') of the net annual
revenues collected by the Giants from any broadcast facilities
operated by the Giants at the Ballpark., other than revenues relate:j
to :bro!odcasting baseball 9a1%ies and related activities.
l.t CODcessions. The JPA ahare of revenQe fro~
concessions may increase beyond the five percent (5\1 described i~
3.3(a) above, if the Ciants are able to negctlate a share for the
vandor of tess than fifty percent (50').
3.5 rime of payment.. '1'0 be aqreeCS upon in the
Lease ..
3.6 I¢s¢b:oll Event. 8ase.ball eve-r.ts are des-
cribed, generally, as any baseball ~ame in ~hich the Giants te~m
is • part!eipllnt plus the Major Leaque AllStar Ca!l".e.
L j,yxury BoxJlliLl,Qg .. _&;!ltt.$-'1H><>..§JY. The JPA "'ill
bave the rIgbt to use up to Eleven Million Eight Hundred Thousand
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Pollars ($l1,8C>O,OOO) of the deposito from luxury box and loge seat
tenant. for the 4 •• 1gn and constrY~tlon of the Ballpark.
S. v-pARr selectioo. All vendor_ and concessIonaires
for tood bevereq., •• rchandise and publications will be .elect~~
by the Giants •
6. peSlgD ond ConstructIon. The Giant. will have the
reasonable rlqht of approval of tbo desigfi of the Ballpark. The
JPA will only be required to undortal;e construction of the BAllpark
It it 1. a •• ured that all design and con5tru~tlon cost. will not
exceed the upset alDount of One Hundred Fifty-t .... o Million Eight
Hundred Tbou •• nd Dollars ($lS2,eO~,OOO).
J.. Seorebo,!lrd ~nq_~. The Giants. 'Will control
the operation ~t the scoreboard and the videoboard at all times.
8. Adyertising. All advertisIng will ~6 subject to the
control of the JPA, inclcding the right to sell the name of the
Ballpark. All such advertlsinqt except lor a nonbaseball event#
shall be Bubject. to the reasor..able approval of "the Giants~ The JPA
will retaIn all net revenues from advertlsing up to Four Million
Dollars ($4 .. Cioo, OOO) annually; net revenues above Four Million
Dollars ($4,000,000) annually ,adjusted by the CPI) .,ill ~e shared
8eventy-five percent (75') by the Giant., twenty-five percent (.5')
by the JPA.
9. Dav of Game Expenses.. The Ciants pay day .. of-
baseball game elCpenses. consisting of ticket sell inq, ticket taking,
UShering, security in the ballpark, and ambulance and first-aid at
the ballpark.
10.. RepaIrs Op§_ratfon and Maintenance.. Except. tor the
day of qame expenaes of the Giants, all cost. of repair, operation
and maintenance of the Ballpark will be the Obligatlon of the JPA
at Ita cost. and expense. If the 3PA fails to repair, operate or
ma!nta!n , the Giant. yl11 have the right to off&et Dgsln.t rent the
actual amo~nts incurred by the Giant& In performIng the same.
11. ~. The JPA ",111 reillburse the Gianh for any
adml •• 1on tax or po8seasory inter •• t tax.
12. b'§cial Coyenapts_ The Giant. vl11 ann·lJa11y donate
to charit.les not less tha:r'l One Killio.n Dollars ($1 .. O(I{) .. 000) in
~ \D5671OOl-'50
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baseball ticket. and/or merchandi.~. The G!~nts will provide tho
JPA with two luxury boxes seatinq no more than twelve (12) persons
ea~b for each Giant& ~5eball game without admlssIon ebarge. (The
JPA intends to use and provide 5u-c:h t1c!<ets tor charitable
purpco ••• )
13~ parking Cbarges. The JFA will operate the parking
lots at all t.im ... and retain all reverrues, provided tbat one-hal f
(1/2) of the net ~rkin9 r.venues durinq baseball events will be
shared equally with the Giants.
14. Ancillary Uses.. The Giants vill be permitted to
conduet other actlvltles at the Ballpark incld:ental to the ousiness
o! ma.jor league. baseball at their cost and expense.
~ha City m~y use the Bell~rk for events during any
is not used by the Giants for a baseball event~
The .JPA and/or
period that it
15. £2nditions. The obligations of the partLes are
conditioned on the achievement of specific. rdl.estones by dates
sp~eitied either in the MOO or to be s~cified In the Lease~
15.1 FinandU phn. A finandal plan by U.e JPA
~U5t be prepared by August 1, 1990 and the plan must be approve~
by the Giants by August 10, 1990.
lS~2 Empo .... eni_ell.t7 _.E_)C~tlP...D-EI~FllUllt..~,ion~
(a) The JPA shall have been empowered by
the tegtslaUve bodies to impo<;e and collect a utility t.ax by
AUg'Ust 10, 1990.
(b) The znemoranduD of under:standh~ \oIit:.
the City Shall have been executed by Aoqust 10, 1990.
ee) The ~emorandum of understanding ~ith
Spectacor Xanag~ment Group 5hall have been e~ecuteQ by ~U9ust 31,
1990.
(d) Patification of this MOU by the
legislatIve bodies of the JPA shall ha.e occurred by August )1,
1990.
15.3 loua· ExeC\ltion of the Lease or of an
agreement to execute the Lease, by November S, 1990, subject to
ext.nalon tor forty-fIve (15) days.
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City/SMG.
ea> Execution of an aqreement to e~ecute
the JPA and SMG under the SMGMOO by
Mov.~.r 5, 1990. aUbject to .~t.n.lon tor terty-tive {C~} days.
(b) £xecl.ltlon of the Ground Lease or e:n
agr •• ~ent to .x.~t •• Ground Leas. by November 5, 1990, subject
to extension fer torty·tive (45) 4aya.
15.S Leell. Solt Land.
ea> Evidence that the LesUe Solt land is
subject to acqu1oition by the JPA, at a price and on terns
acceptable to tho JPA in its sole discretion. e1ther by purchase
er lease, by November 5, 1990, subject to extensicn for forty-five
(fSJ days.
(b) Acquisition of the L<>sll. Salt land by
the JPA, by 3anuary 1, 1992.
15.6 ParkIng. AC8ura~e by ~he JPA t~ the Giahts
that the ~rlcinq avaUable at the Bollpark win consist of rc>urteen
thousand 114,000) op.ees, by December 31, 1990.
15.' CommIsfioner~ Approval by the Co~issl~er
of 8eseball of this MOO and each other document to be entere~ into
by the Giants under the MOO within thirty (30) days tc>llov!n. the
exe~tlon of such documents.
15.8 BAllet .for LlncL...lTn.. Passage of it ballot
measure by the city appr~vin9 the utIlization or its lan~ for the
Ballpark, by November 6, 1990.
15.9 ~1l-'2L for __ fJ,lJ1\Ung.
measure by the County of Santo Clara and/or
Passage 0:' at-allot
the cities of the JPA
for revenue •• asures neces5ary to f!~nce the undertakin~s of the
JPA, by November 6, 1990.
15 .. 10 PCposits. i'he aggregate deposits collected by
th~ Giants from the rental of luxury boxes and loge .eats ahal1
aaount to at least Eleven Million Eight Hun4re~ Thou8an~ Col1~rs
($11,800,OO~), by June l~ 1991 ..
15.1l Staffing plans. The JPA &hall have prepared
and the Giants .hall hove approve~ • st.ffinq plan for traffic,
\Dl5\m671OOl~tSl:I
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pedeatrian and cro ... d control 1n the are. of the lIallparl<. by
o.~.~r )1, 1991.
15.12~. Approval at the Final Environmer.tal
IlIlpaet Repert lor t.he !!aUpuk. by December 31. 1991. (Neither the
JPA nor the city can enter into any Linal agr~ement. with respect
to this Il00, the SKGKOO, and(or the city IlOO untU the requirement.
of the Cali!~rnia Environmental Ouality Act have ~en satisfied.)
15.1) Gove..r:Me!jt_~l __ ~Q...vli.l. J!:eceipt of all
necessary goverruaental approvals for the constructIon of the
Ballpalk 8 by Dece~ber 31~ 1991.
15.14 t~af'fc/~~~ Improverne~.
(a) Approval by the Giants of traffic and
transit plans tor service to the 8~11parkl Incl~ding an upgrade of
High .... y 231, by .. date to be p~ovided in tt.e Lease.
(b] Completion of the improvements let
forth in the approved traffic and transit plans, by a date to be
provided in the Lease.
15.15 ~~~~, .an~Q1t$j;lJ!tl.lJ;ll. The JPI>. sboll
be assured. that the cost of <!esiqn and constr:.lCtioo of the
.Ballpark, including: the onsite infrastructure., shall not elil:ceed its
upset al!lOUllt of One Hundred Fifty-two lIillion Eight Hundred
Thousand Dollars ($l51.BO~,O~~), by Decembar 31, 1991.
15 .16 llifl...lEP.r9y~mmtl... Co:m.me.nce'lllent and c.,.mple
tion by datos to be provide~ in the Lease.
15~17 ~ll-p~:r);, _~QRs1;~~ion. Comme ncem en t by
January I, 1991 and completIon by January 1... 1994, both events
extendible for force .ajeure~
15.18 fallcre of Condition.. Failure of any
condition in 15.1 throu~h 15.10 will per~it either party to elect
to teralnate the MOO v!thout further liability. Failure of
condition 15.11 ... i11 pel'lllit the Giants to ter .. tnate this IlOU
... ithout liability. Feilure Of condition 15.12 will result in the
terain.Uen of the 1100. Foilure of condition 15.15 ... ill perllit the
JP~ to terainate this MOlJ without liability. Failure of condition
lS.1], lS.lt, 15.16 or lS.11 will result in effects to be provIded
in t.he Lea ••.
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16.. fe"' lime. The baseball teall shiSll be named as
.9r •• ~ upon by the Gianta, JPA .n~ city of Santo Clara.
11. Fprg. Moje ure •
11. Won-Ai.crlminAtion·
19.
20.
21.
\025\056~~PS4
02-Dll'~1'I-DtJ";I,.
Non_'I&Sgnabillty~
Relationship.
&utbo'tU:y.
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