Laserfiche WebLink
CITY COUNCIL OF THE <br /> <br /> CITY OF PLEASANTON <br /> <br /> RESOLUTION NO. 85-340 <br /> <br /> A RESOLUTION APPROVING THE TRANSFER OF A PORTION <br /> OF THE CITY'S PRIVATE ACTIVITY BOND ALLOCATION <br /> FOR CALENDAR YEAR 1985 TO THE COUNTY OF ALAMEDA <br /> <br /> WHEREAS, the Tax Reform Act of 1984 (the "Act") has <br />imposed a volume cap on the amount of "Private Activity <br />Bonds" which can be issued by any state; and <br /> <br /> WHEREAS, the Act permits any state to implement a <br />procedure for the allocation of the aggregate principal <br />amount of Private Activity Bonds which may be issued by <br />state and local issuers; and <br /> <br /> WHEREAS, the Governor of the State of California, <br />by Proclamation dated July 19, 1984 (the "Proclamation") has <br />set in place a system for such allocation among state and <br />local issuers in California (the "Private Activity Bond <br />Limit"); and <br /> <br /> WHEREAS, the 1985 calendar year Private Activity <br />Bond Limit for the City of Pleasanton (the <br />"City") is $ 1,994,000 .. ; and <br /> <br /> WHEREAS, the City has determined that it does not <br />expect to utilize $ 1,994,000 of its 1985 Private <br />Activity Bond limit; and <br /> <br /> WHEREAS, the Act and the Proclamation authorize the <br />transfer to another local agency or to the state of all or a <br />portion of a local agency's Private Activity Bond Limit, <br />including the 1985 Private Activity Bond Limit of the City; <br />and <br /> <br /> WHEREAS, the County of Alameda (the "County") has <br />requested that an amount equal to $ 1,994,000 of the <br />1985 Private Activity Bond Limit of the City be transferred <br />from the City to the County for use by the County in <br />furtherance of certain projects; and <br /> <br /> WHEREAS, the City Council hereby deems it <br />appropriate to take action on such request by the County and <br />desires to transfer to the County, upon the terms and <br /> <br /> <br />