REPORT TO COUNCIL
SUBJECT
Title
Second Reading and Adoption of Ordinance Ordering the Submission of a Proposition Incurring Bonded Indebtedness to the Qualified Voters at the November 5, 2024 General Municipal Election of a Proposition Incurring Bonded Indebtedness for the Purpose of Financing the Cost of Acquisition, Construction and Improvement of Certain Municipal Improvement Projects (Main Library) and Adoption of a Resolution Placing a Library General Obligation Bond Measure on Ballot and Consolidating the Measure with the November 5, 2024 General Election
Report
BACKGROUND
At the June 18, 2024 City Council meeting, Council held a public hearing and by a 7-0 vote adopted a Resolution of Necessity (Resolution No.1241-24- Attachment 1) determining that the public interest and necessary demand the acquisition, construction and improvement of the City's Main Library, and its financing through the issuance of General Obligation (GO) Bonds. The public hearing also introduced an ordinance ordering the submission of a proposition incurring bonded indebtedness to the qualified voters of the City of Sunnyvale at the general municipal election to be held on November 5, 2024, for the purpose of financing the cost of the acquisition, construction and improvement of certain municipal improvement projects constituting public infrastructure of the City (Main Library) (the "Library Bond Ordinance").
To complete the process required by state law to place a general obligation bond measure on the November ballot, the Council must take the following additional actions: conduct the second reading of the Library Bond Ordinance (Attachment 2) (Cal. Gov't. Code ? 43608); and adopt a resolution calling the election for November 5, 2024 (Attachment 3). All actions to place the measure on the ballot must be completed prior to the County Election Clerk's August 9, 2024 deadline for filing a ballot proposition.
Several measures have been on the ballot in recent Sunnyvale elections....
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