pages: CityCouncil/2018-02-20.pdf, 12
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CityCouncil | 2018-02-20 | 12 | Vice Mayor Vella inquired whether there is still a consideration of placing another revenue generating measure on the November ballot. The City Manager responded that would be a Council decision. Vice Mayor Vella inquired whether there is a plan to place something before the Council to decide on a sales tax measure within the year, to which the City Manager responded in the affirmative. Councilmember Matarrese inquired whether there will be an explanation of the range, and whether the average of $23 per $100,000 would be listed in the 75 word ballot summary. Mr. Hill responded in the affirmative; stated voters will receive supplemental documentation. Councilmember Matarrese inquired whether the supplemental information for voters will include guidelines for spending the $95 million. Mr. Hill responded in the affirmative. Councilmember Matarrese inquired whether a project has to be in the Capital Improvement Project (CIP) fund, to which the Assistant City Attorney responded in the affirmative. Councilmember Oddie inquired whether there is a cap and a floor for each category, to which the Assistant City Attorney inquired whether the question is regarding the tax rights statement. Councilmember Oddie responded his question refers to the staff report. Councilmember Matarrese stated that he read from the ordinance not the staff report. Mayor Spencer inquired whether the bonds will be repaid in 36 years based on the statement regarding the $6 million annually generated to repay the bonds. Mr. Quint responded based on the current interest rates and expected increases in assessed value over time, the estimate is the bonds will be paid off in 36 years. Mayor Spencer inquired whether a survey question addressed repaying the bonds in 36 years. Ms. Everitt responded the opinion poll included the cost for each homeowner per year for 36 years. Regular Meeting Alameda City Council 12 February 20, 2018 | CityCouncil/2018-02-20.pdf |