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(:tity of San Bernardino
INTEROFFICE MEMORANDUM
9006-1902
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TO: Mayor and Common Council
FROM: Marshall W. JUlian, City Administrator
SUBJECT: UTILIZATION OF BOND PROCEEDS
DATE: June 1, 1990
COPIES:
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The attached update has been prepared for your information
relative to the utilization of the bond proceeds through May
30, 1990. The total amount of bond proceeds realized from
the 1989 issue is summarized below:
Issue of 1989
Programs which have
May 30, 1990 are
description of these
been funded from bond proceeds through
highlighted below. A more detailed
programs is provided as an attachment.
$ 82,600*
1,649,608**~
462,842
100,000
2,398,650
447,195
$ 5,140,899
The balance of funding available from bond proceeds is:
Park Patrol
Streets
City Equipment
Capital Improvements
Buildings
city Personnel
$11,692,175
5,140,899
$ 6,551,276
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*Funded but program not yet implemented.
**Additional $401,901 of street maintenance projects funded
through various project areas.
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INTEROFFICE MEMO~UM: 9006-1902
UTILIZATION OF BOND PROCEEDS
June 1, 1990
Page 2
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It should be noted that on October 25, 1989 the Mayor and
Common Council allocated $1,000,000 for blight reduction
programs. There is not enough "eligible" money to fund a
clean-up program of this magnitude. Abatement of structures
could be funded in this manner. Also allocated was
$1,000,000 for a beautification program. No programs have
been funded from these categories to-date. The unallocated
balance does not take these two programs into account.
Hawkins, Delafield & Wood
regarding the uses of the
available for your review.
counsel report is summarized
has prepared a legal opinion
1989 bond proceeds which is
A condensed version of the bond
below:
Source and Permitted Use
Tax
Increment (State College)
Available for any
Redevelopment law.
purpose
permitted by Community <<
f
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Tax-exempt CMOs --
Available for any governmental purpose, City or
RDA, as permitted by Community Redevelopment law.
Sale of Residual from CMOs --
Available for any city or RDA purpose permitted by
Community Redevelopment law (preferably for
housing-related purposes).
Mortgages not pledged to CMO obligations --
May be used in same manner as Sale of Residual.
General Fund savings due to refinancing Library and Fire
station Bonds
Available for any General Fund purpose.
Tax Allocation Bonds --
Restricted to financing public improvements which
directly or indirectly benefit the Project Area.
Funds should be spent within six months, if
possible. Proceeds from the Bonds may not be used
to pay for operation and maintenance activities.
INTEROFFICE MEMO~UM: 9006-1902
UTILIZATION OF BOND PROCEEDS
June 1, 1990
Page 3
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It is important to emphasize that bond proceeds must be used
to finance public improvements which directly or indirectly
benefit pro' ct areas.
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~TEGORIES OF EXPENDITURE ' ,
BLIGHT PROGRAM - CT~~NTJp
This categ~ includes programs relating to City-wide cleanup
activitie.';i on October 25, 1989, the Mayor and Common
Council apPropriated $1,000,000 for blight reduction
programs. As of May 30, 1990, no programs have been funded
from this category. Bond Counsel advises that funds may not
be utilized for general weed and debris removal.
BLIGHT PROGRAM - ABATEMENT
This category includes programs other than cleanup
activities, items such as programs to upgrade residential
areas. An allocation of $82,600 has been made for a park
patrol program. The park patrol has not implemented due to
unresolved issues relating to the citation authority of a
patrol of this nature.
BEAUTIFICATION - LANDSCAPING
This category represents items which enhance the appearance ,
of areas through landscaping and other beautification
projects. On October 25, 1989, the Mayor and Common Council ~
appropriated $1,000,000 for an upgrade and beautification '
program. As of this date, no allocations have been made in
this category.
STREETS
This category represents street maintenance and street
construction. As a result of certain restrictions in
connection with the use of CMO, Tax Increment and Bond
Proceed funding sources, the matrix distribution was
recommended. The CMO residual, Mortgages and General Fund
areas were the least restricted and were used for street
maintenance outside of project areas. The Director of Public
Services indicated that approximately 60% of the street
maintenance projects have been completed, thus far. The
project matrix summarizes the allocations made for street
purposes:
Proposed projects which are
within redevelopment areas.
$ 97,099
39,989
277,087
84.825
$ 499,000
Proposed projects where use of
Tax-Exempt CMO funds are
permissible.
202,955*
Approved replacement of Local
Transportation Matching Funds Tax-
Exempt CMO funds.
257,600*
Proposed pr~cts where CMO
Residual and Mortgages Funding
must be used.
$ 600,000
196.808**
796,808
Propo..d replacement of 1989/90
General Fund street Maintenance
and capital Improvement funds.
Proposed Projects where General
Fund monies must be used.
796,808
240,000**
55.146
$ 2,051,509
*These items make up the $460,555 amount Tax-Exempt CMO
category.
**These items make up the $436,808 proposed use amount in the
Mortgages category.
CITY EOUIPMENT
This category represents City equipment
as a whole. The amount of $462,842 has
in this category. This amount consists
which benefits the CitJ..
been allocated to dat~
of the following:
1..
$ 269,642
52,500
31,400
28,400
1,200
75,700
4.000
$ 462,842
General Fund equipment budgeted in
1989/90 fiscal year.
Graffiti removal equipment
Fire Equipment
Police Equipment
High Pressure Washer
Abatement Equipment
Uniforms
CAPITAL IMPROVEMENT PLAN
This category represents capital improvements to existing
structures. To date $100,000 for renovations to the Council
Chambers has been allocated.
PARKING STRUCTURES
This category represents structures needed for parking
throughout the city. Thus far nothing has been allocated.
BUILDINGS/DEMOLITION
This category represents new building construction,
demolition and ancillary improvements. The
$2,398,650 was allocated from this category for the
the Thrifty Building.
preparatory
amount ' of
purchase of
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Thi. category include. bridge _intenance and con.truction. No
tunda,_:,~p< . ~_ltI1allocated to-date.
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Thia ca1:egory repre.enta land acqui.ition. NO allocation. have
been ade in thia category to-date.
CITY PRRSONNEL
Tbi. category repre.ent. additional city per.onnel
expenditure.. The aJIOunt of $447,195 baa .... allocated to-
date in thi. category. Expenditur.. conai.t of the following:
$ 156,312
32,035
23,070
21,528
175,000
27,500
11.7!50
$ 447,195
6 Oi.patcbere
1 Diapatcb SUperviaor
1 'l'ypi.t Clerk III
1 'l'ypi.t Clerk II
7 Police Officer. (6-~th.)
2 Police Aa.iatant (6-aontblt) .,-
1 Police Recorda Clerk (6-...the)
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