HomeMy WebLinkAboutORD NO 3787 8?8?
ORD'rN~NCE NO.
~N ORDTNANCE OF THE CTTy OF B~KERSF~'ELD~, CALTFORNTA~
ADDTN~ CHAPTER 3.55 TO THE B~ERSFTELD MUNTCTpAL CODE~,
REL~TTN~ TO ENTERpRTSE REVENUE BOND~
BE IT ORD&INED by the City Council of the City of
Bakersfield as follows:
SECTION 1.
Chapter 3.55, entitled "ENTERPRISE REVENUE BOND LAW",
is added to the Bakersfield Municipal Code and shall read as
follows::
Chapter 3.55
ENTERPRISE REVENUE BOND LAW
Section 3.55.010.
Section 3.55.020.
Section 3.55.030.
Title.
Powers.
Modifications to Revenue Bond
Law of 1941.
3,55.010. Title.
This chapter may be cited as the "City of Bakersfield
Enterprise Revenue Bond Law." The Revenue Bond Law of 1941,
being Chapter 6 of Division 2 of Title 5 of the California
Government code, commencing with Section 54300 (the "Revenue Bond
Law of 1941") as enacted and as hereafter amended, is hereby
adopted by the City as the Enterprise Revenue Bond Law, and all
provisions of the Revenue Bond Law of 1941 shall be included in
the Enterprise Revenue Bond Law, except as provided below.
3.55.020. Powers.
The City is recognized to have and shall exercise all powers
pursuant to and as may be limited by the City charter and the
laws of the State of California which are necessary or
appropriate for carrying out the purposes of this Chapter,
ORIGINAL
including, without limitation, the power to issue bonds for the
purposes specified in the Revenue Bond Law of 1941.
3.55.030. Issuance of Bonds.
(a) Government Code Section 54342 is amended to read, for
purposes of inclusion in the Enterprise Revenue Bond Law: "A
local agency may operate, maintain, repair or manage all or any
part of any enterprise, including the leasing of any enterprise
for commercial purposes."
(b) The Enterprise Revenue Bond Law shall not include
Government Code Sections 54380 through 54388, 54403 or 54418, or
any sections which may hereafter be added to the Revenue Bond Law
of 1941 or any other legislative enactment of the California
state legislature which is not codified in the Revenue Bond Law
of 1941 but which is made applicable to the Revenue Bond Law of
1941 and imposing any requirement of voter approval in connection
with any proposed issuance of enterprise revenue bonds pursuant
to the Revenue Bond Law of 1941 or the Enterprise Revenue Bond
Law.
(c) Government Code Section 54416 is amended to read, for
purposes of inclusion in the Enterprise Revenue Bond Law: "The
legislative body may issue and sell the bonds in the manner it
determines, at public or private sale, at or below par, and at
the interest rate or rates fixed by the original purchaser or
purchasers and approved by the legislative body or by any other
person to whom such approval authority is delegated by resolution
of the legislative body."
2
ORIGINAL_
SECTION 2.
This Ordinance shall be posted in accordance with the
provisions of the Bakersfield Municipal Code and shall become
effective thirty (30) days from and after the date of its
passage.
I HEREBY CERTIFY that the foregoing ordinance was passed and
adopted hy the City Council of the 0it&F~ ~r.field at a
regular meeting thereof held on , by the
following vote:
AYES: COUNCILMEMBER DeMOND, CARSON, SMITH, McDERMOTT, ROWLES, SULLIVAN, SALVAGGIO
NOES: COUNCtLMEMSER
ABSTA!N: COU,~CILt~IE,~/,gE R ~1,~ __
A~NT: COUNCILMFMrjER
C~,o, d.~.~.
CITY CLERK and Ex O~ficlo Clerk of the
City Council of thev City of Bakersfield
APPROVED
APPROVED AS TO FORM:
JUDY K. 8KOUBEN
CITY ATTORNEY
3
ORIGINAL ~
AFFIDAVIT OF POSTING DOCUMENTS
STATE OF CALIFORNIA )
) SS.
COUNTY OF KERN )
PAMELA A. McCARTHY, being duly sworn, deposes and says:
That she is the duly appointed, acting and qualified City Clerk of the City of Bakersfield;
and that on the 18th day of September, 1997 she posted on the Bulletin Board at City Hall,
a full, true and correct copy of the following: Ordinance No. 3787 , passed by the
Bakersfield City Council at a meeting held on the 10th day of September, 1997, and
entitled:
Ordinance adding Chapter 3.55 to the
Bakersfield Municipal Code relating to
Enterprise Revenue Bonds.
/s/ PAMELA A. McCARTHY
City Clerk of the City of Bakersfield
By: ~,~'~x_x ~_ ~ ~-'~c~o ci~.~--
DEPUTY City Cie~kJ ,'~ ~'~