A Resolution of the City Council of the City of Culver City Supporting Propositions 1A 1B 1C 1D 1E and 84 on the November 2006 Ballot. City of Culver City California City Council Agenda Item Report Meeting Date: 09/25/06 AGENDA ITEM: A Resolution of the City Council of the City of Culver City Supporting Propositions 1A 1B 1C 1D 1E and 84 on the November 2006 Ballot. Item Number: A 3 Contact Person/Dept.: Shelly Wolfberg Intergovernmental Relations Officer General Fund: Yes No X Fiscal Impact: Yes No X Public Hearing: Attachments: X Public Notification: League of California Cities and Master Notification List (09/20/06) Phone Number: (310) 253 6008 Action Item: X Department Approval: Martin R. Cole (09/20/2006) City Controller Approval: RECOMMENDATION: City Manager Approval: Jerry B. Fulwood (09/20/2006) Staff recommends the City Council consider supporting Propositions 1A 1B 1C 1D 1E and 84 on the November 7 2006 state ballot. BACKGROUND/DISCUSSION: Proposition 1A Constitutional Amendment. Transportation Funding Protection. Legislative This measure amends the State Constitution to further limit the conditions under which the Proposition 42 transfer of gasoline stales tax revenues for transportation uses can be suspended. This measure: Protects transportation funding for traffic congestion relief projects safety improvements and local streets and roads. Prohibits the state sales tax on motor vehicle fuels from being used for any purpose other than transportation improvements. Authorizes loans of these funds only in the case of severe state fiscal hardship. Requires loans of revenues to no more than twice in any 10 year period. The measure also authorizes the Legislature to provide for the issuance of bonds by state or local agencies in accordance with the established Prop. 42 allocation methodology. The City of Culver City is expected to receive an estimated $299 220 in Proposition 1A revenues for repayment and interest from FY 03 04 and FY 04 05. (cid:127) (cid:127)...
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