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Home My WebLink AboutORD-03-92 Order Proposition of Incurring Bonded Debt to Acquire & Improve Santiago Creek Real PropertyORDINANCE NO. 3- 92 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ORANGE ORDERING THE SUBMISSION OF A PROPOSITION OF INCURRING BONDED DEBT FOR THE PURPOSE OF THE ACQUISITION AND IMPROVEMENT OF REAL PROPERTY LYING GENERALLY ALONG SANTIAGO CREEK BETWEEN HART PARK AND TUSTIN STREET FOR OPEN SPACE OR A MUNICIPAL PARK TO THE QUALIFIED VOTERS OF THE CITY OF ORANGE AT AN ELECTION TO BE HELD FOR THAT PURPOSE The nCity"),City Council of the does Ordain as follows:City of Orange,California the WHEREAS, on February 11, 1992 this City Council adopted, by a two-thirds vote of all the members of said Council, a resolution entitled "A Resolution of the City Council of the City of Orange Determining That the Public Interest and Necessity Demand the Acquisition and Improvement of Real Property Lying Generally Along Santiago Creek Between Hart Park and Tustin Street for Open Space or a Municipal Park and the Financing Thereof Through the Issuance of General Obligation Bonds" ( the "Resolution");WHEREAS, in order to provide for the issuance by the City of its general obligation bonds to finance the real property and improvements described in the Resolution, it is necessary for this Council to pass an ordinance ordering the submission of the proposition of incurring bonded indebtedness for such purpose to the qualified voters of the City at an election held for that purpose; and WHEREAS, this Council desires to submit said ballot measure to the qualified voters of the City at a general municipal election to be held in the City on June 2, 1992.NOW, THEREFORE, the City Council of the City of Orange ordains as follows:Section I. That a special municipal election is hereby called and ordered to be held in the City on June 2, 1992, at which election there shall be submitted to the qualified voters the proposition set forth below.Section II. That said proposition shall appear on the ballot for said special municipal election in the following form:PROPOSITION:authorized to issue Shall the City of Orange general obligation bonds in principal amount of not to exceed twenty-five million dollars ($25,000,000) for the purpose of the acquisition of land lying generally along Santiago Creek between Hart Park and Tustin Street and improvement thereof for purposes of a public park?This City Council does hereby submit to the qualified voters of the City, at said special municipal election, this ordinance and the proposition set forth above.Section III. The object and purpose of incurring the indebtednes s is the acquis i tion of land lying generally along Santiago Creek between Hart Park and Tustin Street and improvement thereof for use as a public park. All of the foregoing are referred to herein collectively as the 'Park Facilities'.Section IV. The estimated cost of the Park Facilities is twenty-five million dollars ($25,000,000). The estimated cost includes legal and other fees and the cost of printing the bonds and other costs and expenses incidental to or connected with the issuance and sale of the bonds (collectively, the ' Bond Issuance Fees and Expenses'). Section V.to be incurred 25, 000,000) .The amount of the principal of the indebtedness is not to exceed twenty- five million dollars Section VI. The maximum rate of interest to be paid on the indebtedness shall be twelve percent (12 %) per annum, or such higher rate as may hereafter be established for general obligation bonds of the City by the Legislature of the State of California.Section VII. This City Council does hereby submit to the qualified voters of the City, at said general municipal election,this Ordinance and proposition set forth in Section 2 hereof. The City proposes to acquire, construct and complete the Park Facilities and to issue and sell general obligation bonds of the City pursuant to Article' 9, commencing with section 43600, of Chapter 4 of Division 4 of Title 4 of the California Government Code, in one or more series, in the maximum amount and for the objects and purposes set forth above if two-thirds of all qualified voters voting on the proposition set forth above vote in favor thereof. The bonds are to be general obligations of the City payable from and secured by taxes levied and collected in the manner prescribed by the laws of the State of California. All of said bonds are to be equally and ratably secured, without priority, by the taxing power of the City.Section VIII. The polls for said election shall be opened at seven o'clock A.M. of the day of said election and shall remain open continuously from said time until eight o'clock P.M. of the same day, when said polls shall be closed, except as provided In section 14301 of the California Elections Code.2- Section IX. The general municipal election hereby called for the date hereinbefore specified shall be, and is hereby, ordered consolidated with any other election to be held within the City on said date, and within the territory affected by the consolidation, the election shall be held and conducted, election officers appointed, voting precincts des igna ted, ballots printed, polls opened and closed, ballots counted and returned, returns canvassed, results declared, and all other proceedings incidental to and connected with the election shall be regulated and done in accordance with the provisions of law regulating the election and specified herein. The Board of Supervisors of the County of Orange is hereby requested to order the consolidation of the general municipal election hereby called with any other election to be held within the City on said date, and within the territory affected by the consolidation, and the Board of Supervisors of the County of Orange is hereby authorized to canvass the returns of said general municipal election, and said election shall be held in all respects as if there were only one election and only one form of ballot shall be used. Said Board of Supervisors shall certify the results of the canvass of the returns of said general municipal election to the City Council which shall thereafter declare the results thereof. The measure submitted by this Ordinance shall be designated on each ballot by a letter printed on the left margin of the square containing the description of the measure, as provided in section 10219 of the California Elections Code. Section X. The elections hereby consolidated shall be held in all respects as if there were only one election, and only one form of ballot shall be used. Section XI. All persons qualified to municipal elections in the City upon the date herein provided for shall be qualified to proposition submitted at said special election. vote a jc general of the election vote upon the Section XII. Ballots for the election shall be provided in the form and in the number provided by law. On said ballots, in addition to any other printed matter which may be required by law, two voting squares shall be set off to the right of the proposi tion submitted at the el ection, in the manner provided by law, one having the word "YES" printed before it, and the other having the word "NO" printed before it. Section XIII. Each voter to vote for the proposition and for the incurring of said indebtedness shall stamp or write a cross, or indicate by hole punch or other means, in the blank space opposite the word "YES" on the ballot to the right of the proposition; and each voter to vote against the proposition and against the incurring of the indebtedness shall stamp or write a cross, or indicate by hole punch or other means, in the blank 3- Ordinance No. 3- space opposite the word "NO" on the ballot to the right of th" proposition. Section XIV. This Ordinance shall be published once a day for at least seven days in a newspaper printed, publ ished and circulated at least six days a week in the City, or once a week for two weeks in a newspaper printed, published and circulated less than six days a week in the City. Thc first of said publications shall, in either event, be wi thin fifteen (15) days after the adoption of this Ordinance. The City Clerk is hereby authorized and directed to make said publications and to transmit, for receipt no later than March 6, 1992, a certified copy of this Ordinance to the Board of Supervisors of Orange County, and a copy with the Registrar of Voters of Orange County and to an:' other appropriate official of Orange County responsible for preparing the ballots for said election. Section XV. This Ordinance shall take effect 30 days from the date of final passage. ADOPTED this _.-l8th day of February' 1992. 1nA/U~ -Pc ~4~~ ci t.y Clerk f th cijty of Orange GENE BEYER. Mayor of the City of Orange By:~ee.~~ ED L. BARRERA, MAYOR PRO TEM Attest: J9357 4- Ordinance No. 3- STATE OF CALIFORNIA) COUNTY OF ORANGE ) CITY OF ORANGE ) I, MARILYN J. JENSEN, City Clerk of the City of Orange, Califorinia, do hereby certify that the foregoing Ordinance was introduced at the regular meeting of the City Council held on the 11th day of February 1992, and thereafter at a regular meeting of said City Council duly held on the 18th day of February , 1992, was duly passed and adopted by the following vote, to wit: AYES:COUNCILMEMBERS: NOES:COUNCILMEMBERS: ABSENT:COUNCILMEMBERS: ABSTAIN:COUNCILMEMBERS: Ordinance No. 3- 92 STEINER, BARRERA, COONTZ, SPURGEON NONE MAYOR BEYER NONE br Q~~- City Clerk thet1i~o Orange 5-