Main Library General Obligation Bond
Measure
Second Reading and Adoption of
Ordinance and Resolution to Place
Measure on Ballot
Tim Kirby, Director of Finance
Dennis Jaw, Assistant Director of Finance
2City of Sunnyvale – General Obligation Bond Measure – June 2024 Key Dates
June 25, 2024
Council
Meeting
(today)
June 18, 2024
Council Meeting Nov. 5, 2024
Dec. 10, 2024
or Jan. 7, 2025
Council Meeting
• City Council
adopts Resolution
of Necessity
• City Council
Introduces and
holds First
Reading of
Ordinance Calling
Election
• City Council holds
Second Reading
and Adopts
Ordinance Calling
Election
• Finalize ballot
language
• City Council
adopts Resolution
Placing Measure
on Ballot
• City Council
adopts Resolution
Declaring Results
of Election
• City Council
Adopts Resolution
Establishing a
Citizens’ Oversight
Committee
• Election Day
3City of Sunnyvale – General Obligation Bond Measure – June 2024 Tonight’s Council Actions
HOLD SECOND READING AND ADOPT
ORDINANCE CALLING THE ELECTION
ADOPT RESOLUTION PLACING A LIBRARY
GENERAL OBLIGATION BOND MEASURE
ON NOVEMBER 5, 2024 BALLOT
4City of Sunnyvale – General Obligation Bond Measure – June 2024 Adoption of
Ordinance
Description of the object and purpose of
bonds
Estimates costs of the improvements
Manner of holding the election
Also requires 2/3 Councilmember
Approval (5 yes votes)
5City of Sunnyvale – General Obligation Bond Measure – June 2024 Resolution
Calling
Election
• Consolidate the City’s election with the
November 5, 2024 Statewide General
Election
• Authorize the Santa Clara County Registrar
of Voters to provide election services
• Review Ballot Question
• Direction on:
• Ballot Question language
• Ballot Arguments
• Ballot Measure Letter Assignment/Ballot
Order
6City of Sunnyvale – General Obligation Bond Measure – June 2024 Proposed Bond Measure Language
• Limited to 75 words
• Must ask question (“shall the ordinance…be adopted?”) Sunnyvale Library Measure. To provide residents an accessible, modern, sustainable, earthquake-safe library; expand spaces for: collections, events, educational programs for children, teens and seniors; replace deteriorating plumbing, electrical and roofing; shall the measure of the City of Sunnyvale to issue $290,000,000 in bonds at legal interest rates with a maximum levy of $27.47 per $100,000 of assessed value while bonds are outstanding, generating approximately $18,600,000 annually, with audits, citizen’s oversight, all funds used locally, be adopted?
7City of Sunnyvale – General Obligation Bond Measure – June 2024 Direction on
Ballot
Arguments
• Authorize the City Council as a body to submit a
written argument for or against the measure
• Authorize one of the following:
• Authorize a subset of Council to submit for or
against the measure
• Authorize a bona fide association or
individual(s) to submit written arguments for
or against
• Authorize a bona fide association or
individual(s) to write a rebuttal argument if an
argument against is filed
• Take no action with regards to ballot arguments
8City of Sunnyvale – General Obligation Bond Measure – June 2024 Ballot
Measure
Letter
Assignment
and Order
• The City Clerk may submit request to Registrar of Voters to avoid assigning certain letters
• Recent Sunnyvale Ballot Measures:
• Measure B - Charter Amendment - At-large to Mayor +
6 Council Districts - March 3, 2020
• Measure K - Transient Occupancy Tax - Nov. 6, 2018
• Measure L - Charter Amendment - Councilmember
Appointments - Nov. 6, 2018
• Measure M - Public Lands Act - Nov. 8, 2016
• Measure N - Utility Users Tax - Nov. 8, 2016
• Additionally, staff intend to request for the Library GO Bond Measure to be placed before the Charter
Amendment Measure, unless otherwise directed by
Council.
9City of Sunnyvale – General Obligation Bond Measure – June 2024 Tax Rate Statement
Provides best
estimates of average
and maximum
annual tax rate
Provides best
estimate of the total
debt service
Disclosures regarding
nature of tax
10City of Sunnyvale – General Obligation Bond Measure – June 2024 Assembly Constitutional
Amendment No. 10
(ACA10)
• Introduced to amend ACA1
• Amendment currently still allows GO Bond
measures to pass with 55% approval, if ACA1
passes.
• Wording added to resolution to reference
possibility of further ACA1 changes
• Staff will monitor and bring back revised
Ordinance on July 23 and July 30, 2024, if
changes are necessary
11City of Sunnyvale – General Obligation Bond Measure – June 2024 Alternatives
Staff Recommendation
1. Conduct a Second Reading and Adopt an Ordinance Ordering the Submission of a Proposition Incurring Bonded Indebtedness to the Qualified Voters at the November 5, 2024 General Municipal Election for the Purpose of Financing the Cost of Acquisition, Construction and Improvement of Certain Municipal Improvement Projects (Main Library); and Adopt a Resolution Calling a General Municipal Election to be Held in the City of Sunnyvale on Tuesday, November 5, 2024 , for the Purpose of Submitting to City Voters an Ordinance to Approve the Issuance of General Obligation Bonds to Finance Municipal Improvements Constituting Public Infrastructure of the City (New Main Library); Requesting Consolidation with the Statewide General Election and Election Services From Santa Clara County; Directing the City Attorney to Prepare an Impartial Analysis; Setting Priorities for Ballot Arguments; and directing the City Clerk as the City’s Elections Official to submit a request to the Registrar of Voters to avoid assigning any recently used ballot measure letters to the November 5, 2024 ballot measures.
2. Do not adopt the ordinance and resolution required to place the General Obligation bond measure on the ballot and provide staff with further direction on next steps.
Staff Recommendation
Alternative 1
12City of Sunnyvale – General Obligation Bond Measure – June 2024 Questions