Title
Explanatory Statement for Inclusion in the Clackamas County Voters Pamphlet for Measure No. 3-407 on the November 6, 2012 General Election Ballot Related to Voter Approval of Urban Renewal Bonds
Body
RECOMMENDED ACTION (Motion):
Staff recommends the City Commission approve the explanatory statement for inclusion in the Clackamas County Voters Pamphlet for the November 6, 2012 General Election.
BACKGROUND:
At the August 15, 2012 City Commission meeting, the Commission directed the City Manager to provide further explanation to the public through the means of an explanatory statement to be included in the voters pamphlet for the November 6, 2012 General Election. The statement would be the City's explanation related to Measure No. 3-407, Voter Approval of Urban Renewal Bonds, on why the City Charter is being proposed for amendment to deal with certain financing of a different municipal entity, the Oregon City Urban Renewal Agency. The explanatory statement would provide further explanation on how the measure undertakes the financing task. The Commission found it necessary to explain that the measure would impact existing urban renewal plans, even if bonds are authorized but not issued, unless binding written commitments have been entered. The statement also describes the exceptions to the effect of the measure and defines "bonded indebtedness."