Title
SUMMARY: Consideration of whether to put before the voters on the June 5, 2018 ballot a $95 million General Obligation Bond measure, which would be assessed at $23 per $100,000 of value on all properties in the City of Alameda
Adoption of a Resolution Determining that the Public Interest and Necessity Demand the Making of Infrastructure Improvements and Their Financing through the Issuance of General Obligation Bonds [Requires four affirmative votes];
Adoption of a Resolution Amending the General Fund Operating Budget for Fiscal Year 2017-18 for the Cost of Submitting the Measure to the Voters [Requires three affirmative votes]; and
Introduction of Ordinance Calling a Special Election and Ordering the Submission of a Proposition Incurring Bonded Debt for the Purpose of Financing Clean Water, Street Infrastructure and Disaster/Emergency Preparedness Improvements Throughout the Geographic Boundaries of the City to the Qualified Voters of the City of Alameda at the Special Municipal Election to be Held on June 5, 2018. [Requires four affirmative votes] (City Manager 2110)
Body
To: Honorable Mayor and Members of the City Council
From: Jill Keimach, City Manager
Re: Adoption of a Resolution Determining that the Public Interest and Necessity Demand the Making of Infrastructure Improvements and their Financing through the Issuance of General Obligation Bonds; Adoption of a Resolution Amending the General Fund Operating Budget for Fiscal Year 2017-18 for the Cost of Submitting the Measure to the Voters; and Introduction of Ordinance Calling a Special Election and Ordering the Submission of a Proposition Incurring Bonded Debt for the Purpose of Financing Clean Water, Street Infrastructure and Disaster/Emergency Preparedness Improvements Throughout the Geographic Boundaries of the City to the Qualified Voters of the City of Alameda at the Special Municipal Election to be Held on June 5, 2018
BACKGROUND
The City of Alameda has nearly $300 million in infrast...
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