COUNCIL AGENDA ITEM
SUBJECT:
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Resolution #2015-R-37 Authorizing Issuance Subject to the Debt Referendum of a General Obligation Bond for improvements to improve City Recreational Areas including Whistle Stop Park
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DEPARTMENT:
Leisure Services
SUMMARY:
On October 26th City Council held a workshop for the redevelopment of Whistle Stop Park. City Council was presented four (4) options of conceptual plans and redevelopment costs to review. After much discussion City Council directed staff to modify option four (4) to include senior exercise equipment and a dog park
During the Workshop, City Council directed staff to increase the amount to be considered for the bond relating to redevelopment costs at Whistle Stop Park along with other City Recreational Areas to $3.5 million. Such initiative would have to be funded with a General Obligation Bond approved by the majority the citizens during the March 15, 2016 election/vote. Attached is Resolution 2015-R-37 that is required for the Ballot Language in the March 15, 2016 election.
Listed below is a timeline and work program leading up to such election date:
> November 16, 2015 - City Council approves final design and considers first reading of Ballot Language Resolution
> December 7, 2015 - City Council considers second reading of Ballot Language Resolution
> December 28, 2015 - Last date the ballot language can be transmitted to Supervisor of Elections
> March 15, 2016 - Election date that the General Obligation Bond initiative will be on the ballot
BUDGETED ITEM: ? Yes ? No ? Not Applicable
BUDGET AMENDMENT REQUIRED: ? Yes ? No ? Not Applicable
RECOMMENDED ACTION:
Motion to approve Resolution 2015-R-37 which would authorize placing the debt referendum question for general obligation indebtedness (maturing in 20 years or less) in an amount not to exceed $3.5 million for improvements/redevelopment t...
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