HomeMy WebLinkAboutResolution No. 2922 RESOLUTION NO. 2922
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
ENDORSING PROPOSITION W
WHEREAS, Water is the lifeblood of Southern California; and
WHEREAS, half the population of the State and half of its assessed
valuation depend upon water supplied by the Metropolitan Water District, a
public agency; and
WHEREAS, California will lose more than half its Colorado River
water because of a Supreme Court ruling on the Central Arizona Project; and
WHEREAS, the Metropolitan Water District is constructing a distri-
bution system to deliver essential water to more than 120 cities and many
large unincorporated areas in six Southern California counties; and
WHEREAS, Proposition W on the June 4th ballot will finance this
construction by means of revenue bonds to be repaid out of water revenue,
with the cost spread out equitably over more than one generation of water
users; and
WHEREAS, the alternative to Proposition W would be the use of
pay -as- you -go financing, requiring the property taxpayers and water users
of this generation to carry all the cost of facilities for generations to
come; and
WHEREAS, Proposition W will give a boost to our sagging economy by
providing jobs and purchasing power;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES RESOLVE
AS FOLLOWS:
SECTION 1. The City Council hereby endorses Proposition W as the
soundest and most equitable way to finance our water supply.
SECTION 2. The City Council shall certify to this resolution and
appropriate distribution of same.
APPROVED AND ADOPTED this 26th day of March, 1974.
17 , ,,,,„. ,-,,, 47 <, _
R M. Jenn' s � Ma Y or f'
ATTEST:
Y
City Clerk
I HEREBY CERTIFY that the foregoing resolution was duly adopted at
a regular meeting of the City Council of the City of Downey thereof held
on the 26th day of March, 1974, by the following vote, to wit:
AYES: 5 Councilmen: Temple, DiLoreto, Winton, Morton, Jennings
NOES: 0 Councilmen: None
ABSENT: 0 Councilmen: None
/.
City Clerk