TITLE
Recommendation to (1) request City Attorney to prepare an amendment to the City Charter which can be placed on the June 2008 ballot that would allow the voters to approve the transfer of up to 15% of Harbor net income to the City of Long Beach for use in the "tidelands area" and an additional 5% transfer of these funds to the City's "general funds" for use in non-Tideland areas; and (2) request City Attorney to assist the City Council State Legislative Committee in drafting State legislation that can be carried by the Long Beach Assembly and Senate contingency enabling the City of Long Beach to transfer 5% of the Port net income for use as "general funds" as a means to reduce the impact of the State "raiding" the property tax funds generated in Long Beach that would have been utilized for City services.
DISCUSSION
City Charter
The City Charter allows the transfer of 10% of the net income of the Harbor Department for specific uses related to the Tidelands area consistent with state law that such funds must be used for projects and programs in the tidelands area.
The current City Charter provides for the transfer of funds from the Harbor District of Long Beach as follows:
For the transfer to the Tideland Operating Fund at the beginning of a fiscal year
from revenues in the Harbor Revenue Fund of such sums as shall have been
determined by the City Council, by a vote of two-thirds (2/3) of all its members,
expressed by resolution, to be required to meet the lawful obligations of the
Tideland Operating Fund; provided, however, that such sums designated shall
not exceed ten percent (10%) of the net income of the Harbor Department as
shown on the most recent available independently audited financial statements;
and further provided that such transfer of funds shall be subject to the prior
approval of a majority of all members of the Board of Harbor Commissioners,
expressed by resolution, finding and determining that the funds proposed to be...
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