Oceanside Municipal Code Div. 2 Issuance of Debt

The provisions of uncodified Ordinance Number 84-19 apply to the issuance of public debt as defined in that ordinance where the debt service is repaid from city general fund monies and federal general revenue sharing monies ("city funds" as defined in that ordinance) and the amount of the public debt with respect to any one project subject to that ordinance exceeds the "authorized debt limit" as defined in that ordinance. For 1997 the authorized debt limit is four million seven hundred fifty-four thousand seven hundred sixty-two dollars ($4,754,762.00). In January of each year, the city treasurer shall calculate and report to the director of financial services the authorized debt limit to be used during that year for the purposes of Ordinance Number 84-19.

(Ord. No. 97-19, § 3, 1-7-98; Ord. No. 20-OR0062-1, § 1, 2-5-20)

Any decision that involves the borrowing or issuance of debt in the amount of one hundred thousand dollars ($100,000.00) or more shall be made by the city council as a separate item of business at a public meeting after a written report from the city manager and city treasurer.

(Ord. No. 97-19, § 3, 1-7-98)

(a) Notwithstanding anything in Ordinance 84-19 or Ordinance 97-19 to the contrary, voter approval shall not be required for any capital improvement project, real property acquisition or improvement to real property as defined in Ordinance 84-19 funded by the temporary transactions and use tax authorized by Oceanside City Code sections 34.6.1 through 34.6.17 ("Measure X"). In addition, voter approval shall not be required for any capital improvement project, real property acquisition or improvement to real property to fund and construct the Aquatic Center located within the El Corazon Specific Plan area.

(b) Notwithstanding anything in Ordinance 84-19 or Ordinance 97-19 to the contrary, voter approval shall not be required for the issuance of debt repaid by City funds for any capital improvement project, real property acquisition or improvement to real property as defined in Ordinance 84-19, related to the development of an energy conservation facility as defined in Government Code section 4217.11(e), or the city's approval of an energy service contract, facility financing contract, or facility ground lease, as those terms are defined in Government Code sections 4217.11(f) through (h), as may be amended from time to time.

(Ord. No. 19-OR0228-1, § 1, 4-24-19; Ord. No. 23-OR0765-1, § 1, 11-15-2023)

The city council, exercising the powers reserved to the city under Section 5 of Article XI of the Constitution of the State of California and pursuant to section 101 of the City Charter, may, by resolution or resolutions, issue and sell revenue bonds to finance or refinance any water or wastewater project pursuant to such resolution or any indenture, trust agreement or fiscal agent agreement. The term revenue bonds shall mean any bonds, notes, bond anticipate notes, certificates of participation, contracts or any other evidence of indebtedness payable from and secured by a pledge of revenues of the water or wastewater enterprises. Revenue bonds may be sold on either a negotiated or competitive basis. The resolution, indenture, trust agreement or fiscal agent agreement pursuant to which such revenue bonds are issued shall specify the terms of such revenue bonds.

(Ord. No. 20-OR0011-1, § 1, 1-8-2020)