REPORT TO COUNCIL
SUBJECT
Title
Adoption of Revised Resolution Placing a New Main Library General Obligation Bond Measure on Ballot and Consolidating Measure with the November 5, 2024 General Election
Report
BACKGROUND
At the City Council meetings held on June 18 and 25, 2024, (RTC Nos. 24-0025, 24-0729), the City Council completed the following actions necessary to place a general obligation bond measure to fund design and construction of a new main library:
(1) Adopted a Resolution of Necessity (Resolution No.1241-24) determining that the public interest and necessity demand the acquisition, construction and improvement of the City's Main Library, and its financing through the issuance of General Obligation (GO) Bonds;
(2) Adopted an ordinance (Ord. No. 3229-24) 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 "Main Library Bond Ordinance");and
(3) Adopted a resolution placing the main library bond measure on the November 5, 2024 ballot.
Under current law, the Main Library Bond measure will pass if 2/3 of voters voting on the measure vote to approve. However, if Assembly Constitutional Amendment No. 1 (ACA1), a state measure also on the November ballot, also passes, it will reduce the approval threshold for the City's measure to 55%. As discussed in the June 25 Report to Council, the state legislature was still considering legislation related to ACA1 when the City approved placing the Main Library Bond measure on the ballot. For the reasons outlined in the discussion section below, Staff is recommending that the Council adopt a revised resolution placing the measure on the ballot with small updates related to ACA1 and add a cle...
Click here for full text