HomeMy WebLinkAboutResolution No. 6196 RESOLUTION NO. 6196
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
OPPOSING PROPOSITION 9 - THE 1998 ELECTRIC UTILITY INITIATIVE
WHEREAS, Proposition 9-the 1998 Electric Utility Initiative would dismantle California's
new competitive electricity market, eliminating customer choice and competitive electricity rates;
and
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 through 2001-02; and
WHEREAS, the proposition could create a $6 billion hole in the state budget, resulting in
significant reductions in funding to local government and critical services such as police and fire,
impairing community health and welfare, public safety and community quality of life; and
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; and
WHEREAS, passage of this measure could exacerbate the financial problems
experienced through unfunded state mandates; and
THEREFORE, the City Council of the City of Downey does hereby resolve that the City of
Downey opposes Proposition 9- the 1998 Electric Utility Initiative.
APPROVED AND ADOPTED this 25th day of August , 1998.
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_ Mayor, G' -Y P. MCC ' k.HAN
ATTEST:
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City lerk, JUDITH E. MC DONNELL
1,,Y I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of
the City of Downey at a regular meeting held on the 25th day August , 1998, by the
following vote, to wit:
AYES: 5 Council Members: Brazelton, McCarthy, Riley, Lawrence, McCaughan
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
N. 0, - 6c-k(L,z.,,c
(CiY Clerk, JUDITH E. MC DONNELL
S:IWPWIIVVIGDA08251ELECTRIC.RES
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