CC Resolution No. 6473 ~ ~ • t .
RESOI.UTION NU. 6473
A RF.SOLIITION 01' TFIf: CITY COIINCII. OF 'fH}i CI'C'Y 0~ CUI'I:KTINO
TRAIi5FERRINC '~'H6 I'RIVATIi AC'CIVTTY 80NU AI,LOCA'L'LON OF 'fHF,
CCPY OF' L'UPlilt'fINO
WHERF;t\S, pursuank to the '1';~x ReForm Act of 1934 (Public l.aw 98-369)
and the Covernor's Yroclamatinn of July 19, l9$4 implementin~; said Act,
the (:ity o1' Cupertino (the "City") has r~~celved a private nctivtty bond allo-
cation in tht amount of $1,750,000 all for the calendar year 1984; and
~ WHEREA5, it is not expected that [he Gity wiil uCilizc the full amount
of such allocation fur the issuance of prlvate activity bonds during 1984; '
and ,
WIIERCAS, the Vroclamatfon pcrmiCS tl~c City to trnnsfor to the State of
: r;:ilifornta ~~r any otht:r local agency alL or any portion of its prtvate activity
bond allocation in any c~lendar year; and
WH@RI;AS. thc C1ty wishes to cooperate wiCh [he Sta[e and other loc:al
governments which may need allocation in 19H4; and
WIIERIiAS, Ghe City ~mdi~r~;[ands that the State acting throuqh it:; Urbt
I.imit A11.ocation Conunitleo [s willtng to acl ~s a clcaringhuusc to asstst
In the mos[ efficient u[illzatiun of allucatLons in 1934,
NOW, TI{f:Kt:PORF., BE IT RGSOLVEll by the Clty Council of thc City oF Cuper-
tino ~s tollows:
I. The~ Ciry of (:uper[inn hereby transfcrs to the Stato of Calitornt.i
thc :~~r,~;rc:gatc amounC of $1,75U,OQp atl of thc Ctty's unusEd privatt• :~ctiv(tY
hund all<~catton for 1984 ~md~~r the Ac•t .ind thcr Cnvernor's Proct:~ma[ton. Suc1i
alloc•a[ion may be tr:uisfer~•ed by the C.~lifornia Uob[ I.imi~ Altocation Cumr.~it~ec
co any other state agi~ncy or locnl aqency as suc•h Commtttoe may d~~•m approprlate,
and may he used by any such Cransferec For a carryforward elc~ctton.
2. Thc~ City Cl~~rk ts herohy dlroctcd Co immedtatcll' transmIt a ci~rtift~d
copy of thi~; resoluCian to the C;~lifurnia lleht I.imlt A1loi~alion CommllCee.
3. This re::olut[on shall take eCCc^ct immedlatel.y upo? its passaFc•.
PASSF.U ANll ADC)F'I'1•:U at a ri,kular mec•tin{; of th~~ City (:ouncil of the City
~~f Cupurtino this l7Ch dny oC Ucccmbcr, 19$4 by [he [ollowinR vaCc;
Vot^ M~~mbcrs oC the (:ltv Coimr i 1
AYI3S: Catto, Pl'ungy, Roticr~, SEi:iCks, Johnson `
y01~S: Nnnc
At;S6NT: None \
AISSTAIJI: Nonc
~11~5 • API'1' hD
~
l'
~
_ ~~'r..,._ _
_ i
- _
-
CitY (,loek Piri~~~~ , j.i,4~ ci Cuprrtinc~
f ~