Laserfiche WebLink
NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br />PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: <br />SECTION 1. Call upon the major municipal bond agencies to end the double standard <br />in the treatment of municipal and corporate bonds; to treat taxpayers the same as corporations <br />and rate municipal bonds based on the risk of default; and to create a unified, global rating <br />approach that treats all issuers equally, and better serves taxpayers and investors. <br />SECTION 2. That the Director of Finance is hereby directed to notify the municipal <br />bond rating agencies by letter of the adoption of this resolution, with a copy to California State <br />Treasurer Bill Lockyer and to register the City as a member of the coalition of public agencies <br />supporting the nationwide effort to reform how bond rating agencies grade state and local <br />bonds. <br />SECTION 3. City Clerk shall certify to the passage of this resolution and enter it into <br />the book of original resolutions. <br />PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br />a regular meeting held on May 20, 2008. <br />I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing <br />resolution was adopted by the City Council at a regular meeting held on the , by the following <br />vote: <br />Ayes: <br />Noes: <br />Absent: <br />Abstain: <br />Karen Diaz, City Clerk <br />APPROVED AS TO FORM: <br />Michael H. Roush, City Attorney <br />