HomeMy WebLinkAbout66-45 - Endorsing Metropolitan Water District Bond IssueRESOLUTION N0. 66-45
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA
ENDORSING THE PROPOSED $850,000,000 WATER BOND ISSUE OF THE
METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA.
WHEREAS, the Board of Directors of The Metropolitan Water District of
Southern California has determined to submit to the voters within said
District at the June 7, 1966, election a proposition for the issuance of
$850,000,000 of general obligation bonds for the construction of facilities
to distribute water from the State Water Project; and
WHEREAS, the Board of Directors of The Metropolitan Water District has
for many years been well known for its expert planning in the distribution
of supplemental water throughout Southern California; and
WHEREAS, this City Council has complete confidence in the judgment of
the Board of Directors of said Metropolitan Water District to adequately
plan for the necessary physical facilities to distribute supplemental water
throughout Southern California before the need therefore becomes critical; and
WHEREAS, said proposed Water Bond Issue is the most practical and
feasible means of financing the said necessary distribution facilities;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COSTA
MESA AS FOLLOWS:
That this Council endorses, and it does, hereby endorse Proposition
W, the $850,000,000 Water Bond Issue of The Metropolitan Water District of
Southern California for the construction of facilities necessary to deliver
throughout Southern California the water contracted for by said Metropolitan
Water District with the State of California;
That confidence is hereby expressed in the judgment of the Board of
Directors of said Metropolitan Water District, in choosing the said Water
Bond Issue as the host practical and economical method of financing the
necessary water distribution facilities;
That approval of the timeliness of the said Water Bond Issue to avoid
subsequent critical need for the said water distribution facilities is hereby
expressed, and
That the City Clerk is instructed to certify to the adoption of this
resolution and transmit a certified copy thereof to the Board of Directors
of The Metropolitan Water District of Southern California.
PASSED AND ADOPTED this 16th day of May, 1966.
Mayor of the t f Costa Mesa
ATTEST:
City,Clerk of the City of Costa Mesa
STATE OF CAL3'.FORNIA )
COUNTY OF ORANGE ) SS.
CITY OF COSTA MESA )
I, C. K. PRIEST, City Clerk of the City of Costa Mesa and ex -officio
Clerk of the City Council of the City of Costa Mesa, hereby certify that
the above and foregoing Resolution No. 66-45 was duly and regularly passed
and adopted by the City Council of the City of Costa Mesa at a regular
meeting held on the 16th day of May, 1966.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
Seal of the City of Costa Mesa, this 17th day of May, 1966.
" - e. e�
City Clerk and ex -officio Clerk of the
City Council of the City of Costa Mesa