HomeMy WebLinkAbout28 - Potential Ballot Initiative for Issuance of Certain Certificates of Participation and Other Lease Revenue ObligationsQ SEW Pp�T
CITY OF
�m
z NEWPORT BEACH
c�<,FORN'P City Council Staff Report
June 12, 2018
Agenda Item No. 28
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Dave Kiff, City Manager - 949-644-3001,
dkiff@newportbeachca.gov
PREPARED BY: Dan Matusiewicz, Finance Director — 949-644-3123
danm@newportbeachca.gov
TITLE: Potential Ballot Initiative Requiring a Vote of the Electorate Prior to
the Issuance of Certain Certificates of Participation and Other Lease
Revenue Obligations (to be considered before Item 23 — Fiscal Year
2018-2019 Budget Adoption; City Budget Hearing;
Recommendations from the Finance Committee; and Budget
Checklist Items)
ABSTRACT:
Should the City consider a ballot initiative that would require a vote of the electorate prior
to the issuance of certain Certificates of Participation (COPs) and other lease revenue
obligations?
RECOMMENDATION:
a) Determine this action is exempt from the California Environmental Quality Act (CEQA)
pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines because
this action will not result in a physical change to the environment, directly or indirectly;
and
b) Provide direction as to whether staff should prepare a ballot initiative that would
require a vote of the electorate prior to the issuance of certain Certificates of
Participation (COPs) and other lease revenue obligations; or
c) Provide direction to the Finance Committee to review proposed language; or
d) Take no action at this time.
FUNDING REQUIREMENTS:
The current adopted budget includes sufficient funding to conduct the November 6, 2018
General Municipal Election and potential ballot initiative.
28-1
Potential Ballot Initiative Requiring a Vote of the Electorate Prior to the Issuance of
Certain Certificates of Participation and Other Lease Revenue Obligations
June 12, 2018
Page 2
DISCUSSION:
At the May 22, 2018 City Council meeting, Council Member Peotter requested to discuss
a potential ballot initiative at a future City Council meeting that would require a vote of the
electorate prior to the issuance of certain COPs and other lease revenue obligations.
ENVIRONMENTAL REVIEW:
Staff recommends the City Council find this project exempt from the California
Environmental Quality Act (CEQA) pursuant to Section [insert exemption section number
(short description of section)] of the CEQA Guidelines, California Code of Regulations,
Title 14, Chapter 3, because it has no potential to have a significant effect on the
environment.
NOTICING:
The agenda item has been noticed according to the Brown Act (72 hours in advance of
the meeting at which the City Council considers the item).
ATTACHMENTS:
None
28-2