|Full text of ballot title prepared by City Attorney: Caption:
Amends Charter: Requires referring some water revenue bonds to voters.
Shall Charter require vote on water revenue bonds when debt service may increase annual water rates more than 3 percent?
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.