HomeMy Public PortalAbout98-116 (07-20-98)1 ~'
RESOLUTION NO. 98-116
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD OPPOSING
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;
_{
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
though 2001-02; •
WHEREAS, the proposition could create a $6 Million ~ioie in the state
budget resulting in significant reductions in ~~urding •~o vocal government and
critical services such as police .and . •rire, impairinr~ community health and
welfare, public safe•::y and community quality of life;
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;
WHEREAS, the proposition serves only to create more bureaucracy and
red tape and cost California taxpayers billions of dollars in lawsuits;
WHEREAS, passage of this measure could exacerbate the financial
problems experienced through unfunded state mandates;
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;
WHEREAS,this proposition is poorly written, misguided; •~law~d and
costly, and will only serve to eliminate customer choke and competitive
electricity rates;
NOW, THEREFORE, be it RESOLVED, the City of Lyc-~wooe opaoses •~:~~e 1998
Electric Utility Proposition.
PASSED, APi',~OVE~ and ADOPTED this 20th day of July, 1998.
ATTEST:
Andrea L. Hooper, City Clerk
APPROVED AS TO FORM:
City Attorney
r
Armando Rea, Mayor
d
Faus Gonzales, ~ y ~b~i=•~ ger
STATE O~ CALZ~ORNZA )
COUNZI~ O~ LOS ANGELES )
Z, the undersigned, City Clerk of the City of Lynwood, do
hereby certify that the foregoing resolution was passed and adopted by the
City Council of the City of Lynwood at a regular meeting held on the 20th
day of July, 1998.
Ai~ES: COUNGZU1biN $l~, RZGtMIZUS, SANCHEZ, RE1~ES
NOES: NONE
A$SENZ': COUN'GZLA4AN REA
1
City Clerk, City of Lynwood
STATE O~ CALI~ORNZA )
COUNTI~ O~ LOS ANfiELES )
J
Z, the undersigned City Clerk of the City of Lynwood, and
Clerk of the City Council of said City, do hereby certify that the above and
foregoing is a full, true and correct copy of Resolution No. 98-116 on file.
in my office and that said resolution was adopted on the date and by the vote
therein stated.
bated this 20th day of July, 1998.
City Clerk