HomeMy WebLinkAbout1997-168
1
RESOLUTION NO.
97-168
2 A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, SUCCESSOR TO THE SOUTH SAN BERNARDINO COUNTY WATER
3 DISTRICT, ASSESSING PROPERTIES WITHIN THE PREVIOUS DISTRICT
BOUNDARIES IN THE AMOUNT OF $14,687.50 FOR THE FISCAL YEAR 1997/98.
4
5 WHEREAS, the people of the South San Bernardino County Water
6 District voted in 1958 to incur a bond indebtedness of $400,000.00
7 for the purchase of certain improvements of the District; and
8 WHEREAS, the District has issued and sold series "C"
9 Waterworks Bonds in the amount of $150,000.00; and
10 WHEREAS, the District, pursuant to the Cortese/Knox Local
11 Government Reorganization Act (Government Code Section 5600),
12 merged with the City of San Bernardino effective August 1, 1991;
13 and
14 WHEREAS, a condition of the merger includes that the City of
15 San Bernardino shall be the successor agency within the
16 jurisdiction of the Board of Water Commissioners; with the
17 successor agency assuming all rights, responsibilities, properties,
18 equipment, contracts assets and liabilities, and functions of the
19 South San Bernardino County Water District; and
20 WHEREAS, the City of San Bernardino requires the total sum of
21 $14,687.50 for the principal and interest payment due during
22 1997/98.
23 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL
24 OF THE CITY OF SAN BERNARDINO to assess all assessable parcels
25 within the boundaries of the previous South San Bernardino County
26 Water District the total amount of $14,687.50 for the 1997/98
27 Fiscal
Year;
to
require
the
County of
San
Bernardino
28 Auditor/Controller to compute the tax rate, and to collect said sum
4/9/97
I
97-168
1 A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, SUCCESSOR TO THE SOUTH
SAN BERNARDINO COUNTY WATER DISTRICT, ASSESSING PROPERTIES WITHIN THE PREVIOUS DISTRICT BOUNDARIES
2 IN THE AMOUNT OF $14,687.50 FOR THE FISCAL YEAR 1997/98.
3 through the County of San Bernardino Tax Collector.
I HEREBY CERTIFY that the foregoing resolution was duly
5 adopted by the Mayor and Common Council of the City of San
4
6 Bernardino at a
joint regular
meeting thereof, held
7 on the
day of
June
, 1997,
2nd
8 by the following vote to wit:
9 COUNCIL MEMBERS:
ABSENT
~
NAYES
ABSTAIN
10 NEGRETE
x
11 CURLIN
x
12 ARIAS
x
13 OBERHELMAN
x
14 DEVLIN
x
15 ANDERSON
x
16 MILLER
x
17
!
I
~
18
19
'1-Ji
20
The foregoing resolution is hereby approved this
21 day of
June
, 1997.
22
~~ ('
7 1. /4/l..M
T6m ~r, ayor ~
City of San Bernardino
23
24
APPROVED AS TO FORM
AND LEGAL CONTENT
25
26
JAMES F. PENMAN
City rrney
By: _ ?-~
(/
27
28
4/9/97
2
!~=168.
CITY OF SAN BERNARDINO
MUNICIPAL WATER DEPARTMENT
INTEROFFICE MEMORANDUM
TO: Bernard C. Kersey, General Manager
FROM: Paul E. Harmon, Director of Finance
SUBJECT: SOUTH SAN BERNARDINO COUNTY WATER DISTRICT - GENERAL
OBLIGATION BONDS
DATE: April 23, 1997
COPIES:
BACKGROUND:
South San Bernardino County Water District (District) merged with
the City of San Bernardino effective August 1, 1991. The terms and
conditions of the merger were approved by the Board of Directors of
South San Bernardino Water District, the Board of Water
Commissioners, the Mayor and Common Council, and the Local Agency
Formation Commission. The Board of Supervisors, County of San
Bernardino, as conducting authority, approved the merger on July
15, 1991.
A condition of the merger stipulated that the City of San
Bernardino would be the successor agency within the jurisdiction of
the Board of Water Commissioners; with the successor agency
assuming all rights, responsibilities, properties, equipments,
contracts, assets and liabilities, and functions of the South San
Bernardino County Water District.
The District issued and sold Series "C" Waterworks Bonds in the
amount of $150,000.00 in 1988, pursuant to a 1958 vote of the
people of the district, to incur bonded indebtedness of $400,000.00
for the purchase of certain improvements of the District.
PROPERTY TAX AMOUNT:
The amount of the assessment for all assessable parcels within the
boundaries of the previous South San Bernardino County Water
District for the 1997/98 Fiscal year has been determined to be
$9,687.50 in interest and $5,000.00 for principal, totalling
$14,687.50.
RECOMMENDATION:
Since the City of San Bernardino is the successor agency to South
97-168
SOUTH SAN BERNARDINO COUNTY WATER DISTRICT - GENERAL
OBLIGATION BONDS
April 23, 1997
Page 2
San Bernardino County Water District, this report and Resolution
has been forwarded to the Mayor and Common Council for action on
their regular Agenda for the meeting of June 2, 1997, with the
recommendation to adopt a new tax rate prior to the County
deadline. No action is required from the Board.
Respectfully submitted,
Paul E. Harmon
Director of Finance
PH/sf
Attachments
~----_._.-
97-168
South San Bernardino Water District Issue Date: 03/01/88
1958 Waterworks Bonds: Series C 7.75% Interest Rate
Debt Service Schedule
Transfer to Sinking Fund Principal Principal Fiscal Cash
Date Interest Sinking Fund Balance Redemption Balance Requirement
I 01 - SEP -88 $5,812.50 $150,000.00
2 01 -MAR-89 5,812.50 150,000.00 $1 I ,625.00
3 01 - SEP -89 5,812.50 150,000.00
4 01 -MAR-OO 5,812.50 150,000.00 11,625.00
5 01 -SEP-OO 5,812.50 150,000.00
6 01 -MAR-91 5,812.50 150,000.00 I I ,625.00
7 01 - SEP -91 5,812.50 150,000.00
8 01 - M!\R -92 5,812.50 150,000.00 I I ,625.00
9 01 - SEP -92 5,812.50 150,000.00
10 01 -MAR-93 5,812.50 $5,000.00 $5,000.00 . 150,000.00 11,625.00
II 01 - SEP -93 5,812.50 150,000.00
12 01 -MAR-94 5,812.50 5,000.00 10,000.00 . 150,000.00 I I ,625.00
13 01 -SEP-94 5,812.50 150,000.00
14 01 -MAR-95 5,812.50 (10,000.00) 0.00 . 15,000.00 135,000.00 26,625.00
15 01 -SEP-95 5,231.25 135,000.00
16 01 -MAR-96 5,231.25 5,000.00 130,000.00 I 5,462. 50
17 01 - SEP -96 5,037.50 130,000.00
18 01 -MAR-97 5,037.50 5,000.00 125,000.00 15,075.00
19 01 - SEP -97 4,843.75 125,000.00
20 01 -MAR-98 4,843.75 5,000.00 120,000.00 14,687.50
21 01 - SEP -98 4,650.00 120,000.00
22 01 -MAR-99 4,650.00 5,000.00 1 I 5,000.00 14,300.00
23 01 - SEP -99 4,456.25 I I 5,000.00
24 01 -MAR-OO 4,456.25 5,000.00 110,000.00 13,912.50
25 01 - SEP -00 4,262.50 1 I 0,000.00
26 01 -MAR-ol 4,262.50 5,000.00 105,000.00 13,525.00
27 01 -SEP-01 4,068.75 105,000.00
28 01 -MAR-02 4,068.75 5,000.00 100,000.00 13,137.50
29 01 -SEP-02 3,875.00 100,000.00
30 01 -MAR-03 3,875.00 5,000.00 95,000.00 12,750.00
31 01 -SEP-03 3,681.25 95,000.00
32 01 -MAR-{)4 3,681.25 5,000.00 90,000.00 12,362.50
33 01 - SEP -{)4 3,487.50 90,000.00
34 01 -MAR-05 3,487.50 5,000.00 85,000.00 11,975.00
35 01 -SEP-05 3,293.75 85,000.00
36 01 -MAR-06 3,293.75 10,000.00 75,000.00 16,587.50
37 01 - SEP -06 2,906.25 75,000.00
38 01 -MAR-07 2,90625 10,000.00 65,000.00 15,812.50
39 01 -SEP-07 2,518.75 65,000.00
40 01 -MAR-OS 2,518.75 10,000.00 55,000.00 15,037.50
41 01 - SEP -os 2,131.25 $55,000.00
42 01 -MAR-09 2,131.25 10,000.00 45,000.00 14,262.50
43 01 - SEP -09 1,743.75 45,000.00
44 01 -MAR-l0 1,743.75 10,000.00 35,000.00 13,487.50
45 01 -SEP -10 1,356.25 35,000.00
46 01 -MAR -I I 1,356.25 10,000.00 25,000.00 12,712.50
47 01 -SEP -II 968.75 25,000.00
48 01 -MAR-12 968.75 10,000.00 15,000.00 11,937.50
49 01 -SEP-12 581.25 15,000.00
50 01 -MAR -I 3 581.25 15,000.00 0.00 16,162.50
, Totals $199.562.50 $150.000.00 $349.562.50
. Due to misinterpretation of debt service requirements, mandatory bond redemption for 1993 and 1994 were not paid
until March 1995; this schedule reflects actual payments to bond holders including bond redemption.
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