HomeMy WebLinkAboutRES 2004-07RESOLUTION NO. 2004- 0 7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND BAR
SUPPORTING PROPOSITION 57: THE ECONOMIC RECOVERY BOND ACT -
A STATEWIDE INITIATIVE TO HELP RETIRE THE STATE DEBT
WHEREAS, California's General Fund supports a variety of programs, including
public schools, higher education, health, social services, and prisons, and
WHEREAS, the State General Fund has experienced chronic shortfalls between
revenues and expenditures since FY2001-02, and
WHEREAS, policymakers have reduced program expenditures, raised revenues,
and taken a variety of other measures including borrowing from local
government, and
WHEREAS, the State is facing another large budget shortfall in 2004-05 which is
estimated to be in the general range of $15 billion, and
WHEREAS, Proposition 57: The Economic Recovery Bond Act on the March
2004 ballot puts before the voters authorization for the State to issue a bond of
up to $15 billion to deal with its budget deficit, and
WHEREAS, the bond authorized by this measure would be used in place of the
deficit -financing bond of a lesser amount authorized last year by the Legislature,
and
WHEREAS, local governments including the City of Diamond Bar would certainly
have to make more severe budget cuts in Fiscal Year 2004-05 if the initiative is
not passed, and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Diamond Bar SUPPORTS Proposition 57: The Economic Recovery Bond Act on
the March 2004 election ballot and directs the following:
SECTION 1. That the City Council of the City of Diamond Bar shall adopt the
Resolution and the City Clerk shall certify to the adoption.
SECTION 2. That the City Council of the City of Diamond Bar asks all elected
officials and Diamond Bar voters to support Proposition 57.
PASSED, APPROVED AND ADOPTED this 3rd of February 2004.
Bob Zirbes, Mayor
I, LYNDA BURGESS, City Clerk of the City of Diamond Bar, California do hereby
certify that the foregoing Resolution passed, approved and adopted at a regular
meeting held on the3'd day of _ February , 2004, by the following vote:
AYES: COUNCIL MEMBERS: Chang, Huff, MPT/Herrera,
M/Zirbes
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAINED: COUNCIL MEMBERS: o' connor
LYNbA BURGESS, CITY CLERK
CITY OF DIAMOND BAR