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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 />44 <br />authority to impose an exempt charge, and that exempt charges must be imposed by an <br />ordinance specifying the type of exempt charge and the amount or rate of the exempt <br />charge to be imposed, and passed by the governing body, other than for certain exempt <br />charges imposed for a specific health care service. In addition, Initiative 1935 would <br />amend Article XIIIC to prohibit any amendment to a municipal charter which provides for <br />the imposition, extension or increase of a tax or exempt charge from being submitted to <br />or approved by the electors. <br /> <br />• Initiative 1935 would amend Article XIIIC to require the title, summary and <br />ballot label or questions for measure providing for the imposition of a tax to include: (a) <br />the type and amount or rate of the tax; (b) the duration of the tax; and (c) the proposed <br />use of the revenue derived from the tax; and (d) if the proposed tax is a general tax, the <br />phrase “for general government use.” In addition, no advisory measure may appear on <br />the same ballot that would indicate that the revenue from the general tax will, could or <br />should be used for specific purposes. <br />• Initiative 1935 would amend Article XIIIC to require that any special tax, <br />whether proposed by the governing body or by an elector, be approved by a two-thirds <br />vote of the electorate. <br /> <br />• Initiative 1935 would amend Article XIIIC to state that the local government <br />bears the burden of proving by clear and convincing evidence (as opposed to a <br />preponderance of the evidence) that: (a) a levy, charge or exaction is an exempt charge <br />and not a tax; and (b) the amount of the exempt charge is reasonable and that the <br />amount charged does not exceed the actual cost of providing the service or product to <br />the payor. <br /> <br />• Initiative 1935 would amend Article XIIIC to state that any tax or exempt <br />charge adopted after January 1, 2022, but prior to the effective date of Initiative 1935, <br />which was not adopted in compliance with the requirements thereof is void 12 months <br />after the effective date of Initiative 1935, if adopted, unless the tax or exempt charge is <br />reenacted in compliance with the provisions of Initiative 1935. <br /> <br />The City cannot predict whether Initiative 1935 will be approved by a majority of voters <br />casting a ballot at the November 5, 2024 Statewide election. If Initiative 1935 is approved, the <br />City cannot provide any assurances as to the effect of the implementation or judicial <br />interpretations of Initiative 1935 on the finances of the City. <br /> <br />Secondary Market for Bonds <br /> <br />There can be no guarantee that there will be a secondary market for the 2024 Bonds or, <br />if a secondary market exists, that any 2024 Bonds can be sold for any particular price. <br />Occasionally, because of general market conditions or because of adverse history or economic <br />prospects connected with a particular issue, secondary marketing practices in connection with a <br />particular issue are suspended or terminated. Additionally, prices of issues for which a market <br />is being made will depend upon then-prevailing circumstances. Such prices could be <br />substantially different from the original purchase price. <br />
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