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Any department of the City seeking to incur general obligation indebtedness on behalf of the City shall submit a proposal meeting the requirements of Section 3.21 of this Code to the Capital Planning Committee not less than 188 days before the election at which such proposal is to be acted upon by the voters. The Board shall not place any proposal on the ballot until the Capital Planning Committee has completed its review of the proposal and submitted its recommendation to the Board in accordance with Section 3.21 of this Code.
(Added by Ord. 112-87, App. 4/24/87; amended by Ord. 495-88, App. 11/15/88; Ord. 133-99, File No. 990584, App. 5/28/99; Ord. 75-14, File No. 140226, App. 5/28/2014, Eff. 6/27/2014)
The proposal provided for by Section 2.30 of this Code must be introduced by the Mayor or by a member of the Board of Supervisors at a regular meeting of the Board in the form of a resolution determining that the public interest or necessity demands the acquisition, construction or completion of any municipal improvement.
Such resolution must be so introduced not less than 169 days before the election at which such proposal is to be acted upon by the voters. Upon introduction, such resolution shall be referred to a committee of the Board of Supervisors.
(Amended by Ord. 16-74, App. 1/4/74; Ord. 133-99, File No. 990584, App. 5/28/99; Ord. 255-03, File No. 031457, App. 11/7/2003)
Immediately after introduction of the resolution by the Board of Supervisors as provided by Section 2.31 of this Code, the Clerk of the Board shall deliver a copy thereof to the Controller, who shall make a written statement thereon to the Board, analyzing the proposition as to its cost and effect, pursuant to the provisions of Section 3.105 of the Charter. The Controller's statement of the effect on the tax rate of a proposition to create a "bonded" debt required to be mailed to the voters by the provisions of Section 3.105 of the Charter shall include a statement of the dollar amount such effect on the tax rate would cost the owners of real property with a representative value or values. The Director of Elections is authorized and directed to include this statement as part of the Controller's statement mailed to the voters pursuant to the provisions of Section 3.105 of the Charter. The committee to which any such resolution is referred shall not report it to the Board, and the Board shall not adopt such resolution, prior to receipt of such statement.
(Amended by Ord. 280-61, App. 10/27/61; Ord. 112-87, App. 4/24/87; Ord. 133-99, File No. 990584, App. 5/28/99)
The resolution provided for by Section 2.31 of this Code shall be adopted by the Board of Supervisors not less than 141 days before the election at which such proposal is to be submitted to by the voters. At any meeting of the Board subsequent to that at which the resolution is adopted, but not less than 99 days before such election, the Board may finally pass an ordinance ordering the submission of such proposal to the qualified voters of the City and County at an election held for that purpose. The time limits as herein set forth may be waived by resolution of the Board of Supervisors.
(Amended by Ord. 16-74, App. 1/4/74; Ord. 112-87, App. 4/24/87; Ord. 133-99, File No. 990584, App. 5/28/99)
Any proposal for bonded indebtedness submitted pursuant to this Article VII shall include, as a provision of the ordinance submitting such proposal to the voters, language incorporating and authorizing the passthrough of the change in a landlord’s property tax resulting from the repayment of such indebtedness as provided in Administrative Code Section 37.3(a)(6).
A resolution determining that the public interest or necessity demands the acquisition, construction or completion of the specific public improvement to be financed under such a proposal, submitted to the Board pursuant to Section 2.31, shall contain a separate statement that the ordinance submitting such proposal to the voters shall comply with this Section.
(Added by Ord. 252-06, File No. 061183, App. 10/11/2006; amended by Ord. 92-24, File No. 240174, App. 5/10/2024, Eff. 6/10/2024, Oper. 7/1/2024)
(a) No bonded indebtedness shall be incurred by the City and County which together with the amount of bonded indebtedness outstanding shall exceed three percent of the assessed value of all real and personal property in the City and County subject to taxation for City and County purposes. Bonded indebtedness heretofore or hereafter created for water supply, storage or distribution purposes, sewers and sewerage collection, disposal and treatment, water pollution control, and the acquisition, construction or completion of air transportation facilities and bonded indebtedness created pursuant to Charter Sections 9.107(4), 9.107(5) and 9.107(7) shall be exclusive of the limitation on the amount of bonded indebtedness of the City and County contained in this Section; provided, however, that any bonded indebtedness for sewers and sewerage collection, disposal and treatment, and for water pollution control, must be financed by sewerage service charges for the foregoing exclusion to be applicable.
(b) Any and all indebtedness assumed for the purpose of accepting the transfer and assuming jurisdiction and control of the harbor of San Francisco and the facilities thereof, in accordance with the terms and conditions of Statutes 1968, Ch. 1333, shall not be included in the bond debt limit provided for in Subsection (a); and, if thereafter any additional bonded indebtedness is incurred to improve said harbor in connection with the operation thereof, said bonded indebtedness so incurred shall also be exempt from the limitations contained in Subsection (a).
(c) A bonded indebtedness for the construction, completion or acquisition of foreign trade zones and the acquisition of necessary lands, buildings and equipment authorized by the electors in accordance with the provisions of the Charter shall be exclusive of the bonded indebtedness of the City and County limited by the Charter.
(d) Revenue to meet current annual interest and redemption or sinking fund for outstanding general obligation bonds issued for the acquisition, construction or any extension of any utility under the jurisdiction of the Public Utilities Commission, shall always be provided out of the tax levy.
(Added by Ord. 439-96, App. 11/8/96; amended by Ord. 133-99, File No. 990584, App. 5/28/99)
(a) Subject to the approval, amendment, or rejection of the Board of Supervisors in each instance, the Airport Commission shall have authority to issue airport revenue bonds for the purpose of acquiring, constructing, improving, or developing airports or airports facilities under its jurisdiction under such terms and conditions as the Commission may authorize by appropriate resolution. Such revenue bonds shall be issued in accordance with the Revenue Bond Law of 1941 as it now reads or may hereafter be amended. The provisions of Sections 54380 through 54387, inclusive, and Section 54522 of the California Government Code shall not apply to the issuance and sale of such revenue bonds.
(b) Revenue bonds issued pursuant to this Section 2.62 shall bear a rate of interest not to exceed that which may be fixed and prescribed by the Airport Commission subject to the approval or rejection of the Board of Supervisors without regard to the limitations contained in the Revenue Bond Law of 1941. The bonds issued by the Commission pursuant to the provisions of this Section shall not constitute or evidence indebtedness of the City and County but shall constitute and evidence only indebtedness of the said Commission payable solely out of revenues received by the Commission from airports or airport facilities operated or controlled by it.
(c) Airport revenue bonds issued for such purposes pursuant to this Section 2.62 shall not be included in the bonded debt limit provided for in Section 2.60 of this Code. Nothing in this Section 2.62 shall prevent the City and County from issuing general obligation bonds for the purpose of acquiring, constructing, improving, or developing airports or airport facilities under the Commission’s jurisdiction, subject to the bond issue procedure provided for in the Charter.
(Added by Ord. 439-96, App. 11/8/96; amended by Ord. 177-22, File No. 220655, App. 8/4/2022, Eff. 9/4/2022)
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