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Full text of ballot title prepared by City Attorney:Caption: Amends Charter: Requires referring some water revenue bonds to voters. Question: Shall Charter require vote on water revenue bonds when debt service may increase annual water rates more than 3 percent? Summary: This proposed measure amends the City Charter. The measure requires the City Council to refer prospective water revenue bond measures to the electorate for a vote if the debt service on the bonds may increase annual water rates by more than 3 percent in any future year. The measure provides an exception to the requirement for voter approval if the bonds are necessary to repair damage caused by a catastrophic event.
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