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W~.'AF, AS: <br /> <br />CITY CF FLEASANTON <br /> COUNTY OF ALAMEDA <br /> STATE OF CALIFORNIA <br /> <br /> APPROVED AS 10 <br /> <br />WILLI^U A. HIRST, City Atto <br /> <br />RESOLUTION NO. 68-139 <br /> <br />EXPP~ESSING OPPOSITION TO THE 1968 CONSTITUTIONAL <br />INITIATIVE P~GARDING PROPERTY TAX LIMITATION, AND <br />AUTHORIZING THE IMMEDIATE SALE OF $885,000.00 OF <br />GENERAL OBLIGATION BONDS <br /> <br /> The League of California Cities has issued a report, <br /> dated July 15, 1968, outlining and opposing the signifi- <br /> cant elements of the proposed Constitutional Amendment <br /> regarding Property Tax Limitation. <br /> <br /> The City Manager has recommended that the City Council <br /> oppose the proposed Initiative, and that in view of the <br /> proposed Initiative, authorization be granted to sell <br /> $885,000.00 in authorized but unsold General Obligation <br /> and Revenue Bonds. <br /> <br />THKBEFORE, BE IT RESOLVED AS FOLLOWS: <br /> <br /> 1. The City Council does hereby express strong opposition to <br /> the proposed Initiative Constitutional Amendment regard~ <br /> ing Property Tax Limitation, due to the severely inhibit- <br /> ing and negative effect of such a measure upon local <br /> government in California. <br /> <br /> 2. The City Council does hereby authorize the Director of <br /> Finance to sell the remaining $885,000.00 in General <br /> Obligation and Revenue Bonds. <br /> <br />DATED: August 19, 1968 <br /> <br />~'~;' MdCART¥, City C~erk <br /> <br />BERNARD T. GERTON, Mayor <br /> <br />~y <br /> <br /> <br />