pages: CityCouncil/2009-12-01.pdf, 15
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CityCouncil | 2009-12-01 | 15 | a water bond in the amount of $11. 4 billion that would be placed on the November 2010 ballot; the League's fiscal analysts have fundamental problems with the bond because a $21 billion budget deficit is projected for next year; adding more debt that would require a $700,000 payment per year would not be responsible because funding would be taken away from State mandated programs, especially at the local level. securitization was discussed; Alameda is one of 408 cities that participated in efforts to try and borrow back money that the State borrowed; the League and California State Association of Counties sponsored the Joint Powers Authority to help facilitate securitization; the plan is to get half of the money on January 15, 2010 and the remaining half on May 3, 2010. Mayor Johnson stated the State is borrowing money from people's paychecks by increasing tax withholding to 10%. Councilmember Gilmore stated the budget was passed using a number of accounting tricks. The Interim City Manager stated next year's deficit will be $20 billion. Councilmember Gilmore stated the State would look to local government to close the budget gap. Mayor Johnson stated the City has reduced the work force significantly; the State has only implemented furloughs. Councilmember Matarrese stated a balanced budget would take five to fifteen years; a furlough is a promise that things will get better and does not fix anything. The Interim City Manager stated no one has factored in the State cost for PERS, which is in the billions of dollars. Councilmember Tam stated the ballot measure is a top priority for the League the issue has polled positively at over 70%; lowering the voting threshold to a simple majority has not done as well. (09-493) Councilmember Tam stated that she and staff met some Lakewood, Washington City employees at the Emergency Management training in Emmitsburg last July; requested that the Police Department express Council's condolences and outrage with the recent assassination of four Lakewood Police Officers. The Police Chief stated a letter is prepared to go out tomorrow. Regular Meeting Alameda City Council 15 December 1, 2009 | CityCouncil/2009-12-01.pdf |