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RES 2024025
City of Pleasanton
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RES 2024025
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5/10/2024 4:29:09 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/7/2024
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<br /> <br /> <br />43 <br />Cybersecurity <br />The City, like many other public and private entities, relies on computer and other digital <br />networks and systems to conduct its operations. As a recipient and provider of personal, private <br />or other sensitive electronic information, the City is potentially subject to multiple cyber threats, <br />including without limitation hacking, viruses, ransomware, malware and other attacks. No <br />assurance can be given that the City’s efforts to manage cyber threats and attacks will be <br />successful in all cases, or that any such attack will not materially impact the operations or <br />finances of the City or the Water System, or the administration of the 2024 Bonds. <br /> <br />The City is also reliant on other entities and service providers in connection with the <br />operation of the Water System and the administration of the 2024 Bonds, including without <br />limitation, the City’s wholesale water provider, the Trustee and the dissemination agent. No <br />assurance can be given that the City and these other entities will not be affected by cyber <br />threats and attacks in a manner that may affect the Bond owners. <br /> <br />Initiative Measure Relating to Water Revenues <br /> <br />On February 1, 2023, the California Secretary of State announced that a ballot initiative, <br />designated as Initiative 1935 and known as the “Taxpayer Protection and Government <br />Accountability Act,” had received the required number of signatures to appear on the <br />November 5, 2024 ballot. <br /> <br />If approved by a majority of voters casting a ballot at the November 5, 2024 Statewide <br />election, Initiative 1935 would make numerous significant changes to Article XIII, XIIIA, XIIIC <br />and XIIID of the California Constitution to further limit the authority of local governments, and <br />electors via the initiative process, to adopt and impose taxes and fees. The full text of Initiative <br />1935 may be viewed at the website of the California Attorney General. <br /> <br />Among other things: <br /> <br />• Initiative 1935 would amend Article XIIIC to state that every levy, charge or <br />exaction of any kind imposed by local law is either a “tax” or an “exempt charge,” and <br />would amend the definition of “tax” added to Article XIIIC by Proposition 26 to state that <br />“every levy, charge, or exaction of any kind imposed by a local law that is not an exempt <br />charge” constitutes a tax. Initiative 1935 narrows the definition of “exempt charge” to <br />mean a “reasonable charge for a specific government service or product provided <br />directly to the payor that is not provided to those not charged, and which does not <br />exceed the actual costs [as opposed to the reasonable costs] of providing the service or <br />product to the payor.” “Exempt charges” also encompasses existing exceptions from the <br />definition of “tax” added to Article XIIIC by Proposition 26. “Actual costs” is defined in <br />Initiative 1935 to mean “the minimum amount necessary to reimburse the government <br />for the cost of providing the service or product to the payor…where the amount charged <br />is not used by the government for any purpose other than reimbursing that cost. In <br />computing “actual cost” the maximum amount that may be imposed is the actual cost <br />less all other sources of revenue including, but not limited to taxes, other exempt <br />charges, grants, and state or federal funds received to provide such service or product.” <br />Initiative 1935 would retain an exemption from the definition of “tax” for assessment, fees <br />or charges which are subject to Article XIIID. <br /> <br />• Initiative 1935 would amend Article XIIIC to state that only the governing body <br />of a local government, or an elector acting pursuant to the initiative power, has the
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