HomeMy WebLinkAboutResolutions - No. 3366RESOLUTION NO. 3366
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 ELECTRIC
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 and gas 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 and gas systems: and
WHEREAS, this limitation does not apply to other utility
operations by local agencies;
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Lodi that it support legislation which would remove or modify
the restriction on the use of revenue bonds for electric and gas contained in
Section 54310 of the Government Code.
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: March 18, 1970
I hereby certify that Resolution No. 3366 was passed and
adapted by the City Council of the City of Lodi in regular
meeting held March 18, 1970 by the following vote:
AYES: Councilman - Brown, Culbertson, Hunnell and Kirsten
NOES: Councilmen - None
ABSENT: Councilmen - Schaffer ,?
SSIE
City Clerk
3366