HomeMy WebLinkAboutResolutions - No. 3504RESOLUTION NO. 3504
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LODI
URGING THE ENACTMENT OF LEGISLATION WHICH WOULD
PERMIT GENERAL LAW CITIES TO ISSUE REVENUE BONDS FOR
EXTENSIONS AND IMPROVEMENTS TO MUNICIPAL ELFCTRIC
DISTRIBUTION AND GENERATION FACILITIES.
WHEREAS, Sections 54309 and 54309. 1 of the Government Code of
the State of California provide definitions of "Enterprise" for which revenue
bonds may be used under the Revenue Bond Law of 1941; and
WHEREAS, said definitions include a wide range of revenue-producing
activities of government including water systems, sewer systems, garbage
systems. parking lots and garages, harbors, airports and hospitals; and
WHEREAS, Section 54310 of the Government Code specifically excludes
electric systems from the definition of "Enterprises" which may be financed
by the use of revenue bonds; and
WHEREAS, this discriminatory exception places an unjustified limitation
on the means available for financing capital projects by local agencies
operating electric systems: and
WHEREAS, this limitation does not apply to other utility operations
by local agencies;
WHEREAS. AB 115, now before the Legislature, will remove the
restrictions contained in Government Code Sections 54309 and 54310 relating
to electric distribution facilities;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Lodi that it supports legislation that would remove or modify the
restriction on the use of revenue bonds for electric systems contained in
Section 54310 of the Government Code.
BE IT FURTHER RESOLVED by the City Council of the City of Lodi
that it supports the passage of AB 125 and that it urges the City's repre-
sentatives in the California Legislature to support and vote for the proposed
law.
BE IT FURTHER RESOLVED that copies of this resolution be sent
to Senator Alan Short, Assemblyman Robert Monagan, and to the appropriate
committees of the California State Legislature.
DATED: April Z 1, 1971
I hereby certify that Resolution No. 3504 wa5 passed and
adopted by the City Council of the City of Lodi in regular
meeting held April 21, 1971 by the following vote:
AYES: Councilmen - Ehrhardt, Hughes, Katnich, Kirsten and
Scna£fer
NOES: Councilmen - None
ABSENT: Councilmen - None
B aSIE I: NN T
City �,Glerlr;�'s� _
3504