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Measure A Acquisition of Property for Permanent Open Space Novato-Pacheco Valle Community Facilities District Parcel Tax - 2/3 Approval Required
See Also:
Index of all Measures |
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League of Women Voters of California Education Fund
Pass:
611 /
95.2% Yes votes ......
31 /
4.8% No votes
| Information shown below: Impartial Analysis | Arguments | | ||||
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Measure A: To finance acquisition of property at the entrance to Pacheco Valle by Marin County Open Space District for permanent open space anad no other purpose, shall City of Novato incur indebtedness not exceeding $600,000 for City of Novato Community Facilities District No. 2014-I (Pacheco Valley Area) and levy a special tax annually on each parcel within the District, as described in Resolution No. 3-14 (see ballot Pamphlet), for no more than 15 years andi n any event no later than fiscal year 2033-34, subject to appropriation limit?
This ballot measure: (i) authorizes the City, on behalf of the District, to incur an indebtedness and issue bonds or other debt (as defined in the Act; collectively, "Bonds") in an aggregate principal amount not to exceed $600,000 with interest at a rate or rates not to exceed the maximum interest rate permitted by law at the time of sale of such Bonds for the purpose of acquiring the Financed Property and paying for the costs of issuing the Bonds and related expenses: (ii) authorizes the City to levy a special tax on taxable property within the District for no more than 15 years and in no event later than fiscal year 2033-34, to pay for debt service on the Bonds, the City's costs in administering the District, and the costs of acquiring the Financed Property; and (iii) establishes an annual appropriations limit for the District n the amount of $64,328. The ballot measure is being placed on the ballot by the City Council. The qualified electors in this election are the registered voters in the District. In order to pas, this measure must be approved by two-thirds of the votes cast. If the measured is approved, each parcel within the District would be subject to a special tax according to the Amended and Restated Rate and Method of Appointment of Special Tax ("Rate and Method") set forth in Resolution No. 3-14 of the City's City Council ("Resolution"). If the measure is approved, upon recordation of a notice of special tax lien in accordance with applicable law, a continuing lien to secure the levy of the special tax would attach to all nonexempt property in the District. The City Council has adopted the following accountability measure with respect to this ballot measure: (a) the specific purpose of the Bonds is set forth in the ballot measure; (b) any proceeds received from the sale of any Bonds shall be applied only to the purposes set forth in the measure; (c) the proceeds of any Bonds shall be deposited into special accounts to be created therefor as part of the issuance of the Bonds; and (d) the City shall cause a report to the prepared annually under Section 53411 of the Government Code. Reference is made to the Resolution for a complete description of the boundaries of the District, nature of the Financed Property, and Rate and Method. s/JEFFREY A. WALTER Novato City Attorney
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News and Analysis Marin Independent Journal
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| Arguments For Measure A |
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Pacheco Valley residents are blessed to live in an area surrounded by open space of stunning natural beauty abounding with native trees and wildlife. In this election, we ask you to SUPPORT a measure to extend open space protection to the last remaining parcels now zoned for development - the meadow at the Valle Entrance and the hillside and creek parcels near the former Marin Independent Journal building - 15 acres in all. the Marin County Open Space District will own and maintain the property in perpetuity at no direct cost to Valle residents.
As part of our semi-annual property taxes, each homeowner is being asked to pay an affordable amount over 15 years to finance the land purchase. Monthly costs will be no more than $6.58 for condo/townhouse owners and no more than $20.67 for single family homeowners. The sole commercial building owner will pay $325.50. These costs will remain fixed over the 15-year term. Shortly after the election, homeowners will also have a one-time option to pay their entire tax lability up front, thereby saving interest and administrative costs otherwise paid over time. This is a once in a lifetime opportunity. The corporate owner has agreed to sell the property at a price far below the land's market value. Interest rates may never be lower. Meanwhile, development pressures are ral and growing throughout Marin, especially buildable land near the freeway. If we fail to act now, we will have no control over what will be build on these parcels in the future. These are the final jewels in the crown of open space that make Pacheco Valle so special. Please vote YES to keep this land open and beautiful, for ourselves and for future generations, forever.
s/PETER LOGAN
Preserve Pacheco Valle Meadow Committee
(No arguments against Measure A were submitted) |
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Created: May 10, 2014 14:29 PDT
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