HomeMy WebLinkAboutCC Res 4651 1998-09-14
RESOLUTION NUMBER ~5i
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEAL BEACH IN OPPOSITION TO THE 1998 ELECTRIC
UTILITY PROPOSITION
WHEREAS, the 1998 Electric Utility Proposition would dismantle California's new
competitive electricity market, eliminating customer choice and
competitive electricity rates; and
WHEREAS, the State Legislative Analyst and Department of Finance have determined
that the net impact of this proposition on local governments would be
revenue reductions potentially in the tens of millions of dollars annually
through 2001-02, and
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WHEREAS, the proposition could create a $6 billion hole in the State budget, resulting
in significant reductions in funding to local government and critical
services such as police and fire. impairing community health and welfare.
public safety and community quality oflife; and
WHEREAS, the precedence set by disallowing payment on rate reduction bonds could
impair the ability of state and local governments to secure low-cost
financing for local infrastructure bonds and other types of bonds, and
WHEREAS, the proposition serves only to create more bureaucracy and red tape and
cost California taxpayers billions of dollars in lawsuits; and
WHEREAS, passage of this measure could exacerbate the financial problems
experienced through unfunded state mandates; and
WHEREAS, this proposition jeopardizes the State's economic recovery by creating
uncertainty for California-based companies as well as those considering
relocating to our State; and
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NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Seal
Beach hereby opposes the 1998 Electric Utility Proposition.
NOES:
y the City Council of the City of Seal Beach
, 1998 by the following vote:
PASSE4t~PROVED
on / _ day of
AYES
ed-
ABSENT:
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Resolution Number 465/
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
I, Joanne M. Yeo, City Clerk of Seal Beach, Californi~,;lpjJ!lreby certify that the foregoing
resolution is the original copy of Resolution Number ~ on f in the office of the City
Clerk, passed, approved, and adopted bvpJlity Council 0 h ity. of Se I Beach, at a
regular meeting thereof held on the - day of , 199
.