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Title:
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Ordinance calling and providing for a special election to be held in the City and County of San Francisco on Tuesday, November 2, 1999, for the purpose of submitting to the voters a proposition to incur bonded debt and/or other evidences of indebtedness and/or undertake lease financing by or for the City and County in the principal amount of $299,000,000 for the acquisition, improvement, construction and/or reconstruction of a health care, assisted living and/or other type of continuing care facility or facilities to replace Laguna Honda Hospital; providing for the use of available tobacco settlement revenues and for the use of State and/or Federal grants or funds received by the City and County that are required to fund such proposed project; finding that the estimated cost of such proposed project is and will be too great to be paid out of the ordinary annual income and revenue of the City and County and will require expenditures greater than the amount allowed therefor by the annual tax levy; reciting the estimated cost of such proposed project; fixing the date of election and the manner of holding such election and procedure for voting for or against the proposition; fixing the annual rate of interest on such lease financing, bonded debt and/or other evidences of indebtedness; providing for the levy and collection of taxes to pay both principal and interest of such bonded debt and/or other evidences of indebtedness; prescribing notice to be given of such election; establishing the election precincts, voting places and officers for the election; waiving the word limitation on ballot propositions imposed by San Francisco Municipal Elections Code Section 510; and acknowledging receipt of findings by the City and County Planning Department.
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