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F. The primary sources of the Proposition 4 revenues <br />are increased sales taxes resulting from construction of a <br />regional shopping center, increased real property taxes resulting <br />from a continuing high level of new commercial and office <br />construction and increased hotel-motel tax revenues resulting <br />from the anticipated construction of at least six new hotels in <br />north Pleasanton. <br /> <br /> G. Pleasanton's Proposition 4 revenues may be either <br />expended for public purposes or returned to the corporations and <br />people whose taxes create that revenue through reductions in tax <br />rates and fees. <br /> <br /> H. If a majority of the voters of Pleasanton choose to <br />return the Proposition 4 revenues to the corporations and people <br />who pay taxes by voting against adoption of this ordinance, then <br />the City Council must determine which tax rates to reduce to <br />bring total appropriations within the City's appropriations <br />limit. <br /> <br /> I. If the voters of Pleasanton choose to dedicate <br />Proposition 4 revenues to public improvement projects by voting <br />in favor of this ordinance, then the City Council must direct the <br />Proposition 4 revenues to accomplishing the public improvement <br />projects set forth in this ordinance. <br /> <br />THE PEOPLE OF THE CITY OF PLEASANTON DO HEREBY ORDAIN AS FOLLOWS: <br /> <br />Section 1: Change of Appropriations Limit. The appropriations <br /> limit established by Article XIIIB of the California <br /> Constitution is hereby changed to $21.0 million for each <br /> of the four fiscal years from 1984-85 through 1987-88. <br /> All proceeds of taxes received during the four year <br /> period are hereby appropriated and may be set aside in <br /> reserve funds to accomplish priorities established by <br /> Section 3 of this ordinance. <br /> <br />Section 2: Tax Freeze. No tax existing on the effective date of <br /> this ordinance shall De increased and no new tax shall <br /> be instituted during the period that the change in the <br /> appropriations limit authorized by this ordinance is in <br /> effect. <br /> <br />Section 3: Priorities. To the extent that proceeds of taxes <br /> exceed the appropriations limit which would exist but <br /> for this ordinance (i.e. to the extent that Proposition <br /> 4 revenues actually materialize), the following projects <br /> and programs shall be given priority: <br /> <br /> a. Construction of a new library. <br /> <br /> b. Construction of the Valley Avenue extension across <br /> Stanley Boulevard from Santa Rita Road to the <br /> Bernal Avenue Bridge. <br /> <br /> - 2 - <br /> <br /> <br />