HomeMy WebLinkAbout1983-405
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RESOLUTION NO. 83-405
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO FINDING THAT AN APPLICATION FOR
INDUSTRIAL DEVELOPMENT BOND FINANCING HAS BEEN SUBMITTED
PURSUANT TO THE PROVISIONS OF ORDINANCE NO. 3815 OF THE
CITY FOR A CERTAIN PROJECT, FINDING THAT SAID APPLICATION
COMPLIES WITH THE PROVISIONS AND REQUIREMENTS OF SAID
ORDINANCE NO. 3815; APPROVING SAID APPLICATION AND THE
PROJECT TO WHICH IT REFERS; DIRECTING THE PREPARATION OF
A PROJECT AGREEMENT, A RESOLUTION OF ISSUANCE AND SUCH
OTHER LEGAL DOCUMENTS AS MAY BE NECESSARY TO CARRY OUT
SAID PROJECT AND PROVIDE FOR THE ISSUANCE OF INDUSTRIAL
DEVELOPMENT REVENUE BONDS THEREFOR; AND MAKING CERTAIN
OTHER FINDINGS AND DETERMINATIONS IN CONNECTION THEREWITH.
(BAI/MEDlCAL EQUITIES OF CALIFORNIA, INC.)
WHEREAS, the City of San Bernardino ("City" herein) is a "home rule city"
duly organized and existing under and pursuant to a Charter adopted under the
provisions of the Constitution of the State of California; and
WHEREAS, pursuant to its home rule powers, the City duly and regularly
enacted Ordinance No. 3815 ("Ordinance" herein) to finance various types of
projects, as defined in the Ordinance, and to issue its special revenue bonds
for the purpose of paying the cost of financing such projects, and has amended
the same from time to time; and
WHEREAS, said Ordinance No. 3815, as amended, is intended to finance the
development of industry and commerce and to thereby broaden the employment
opportunities for residents of the City and its tax and revenue base; and
WHEREAS, there has been presented to this Mayor and Common Council an
Application by BAI/Medical Equitiesof California, Inc. , requesting the
issuance of industrial development bonds in the principal amount of, not to
exceed, $.,3,000,000 for the purpose of financing, on behalf of the Applicant,
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a certain Project to wit: To finance the construction of a 40,000 sq. ft. Medical
Office Building to be built on the St Bernardine Hospital Campus located on the eastern half
of the block bounded by Highland Avenue on the north; 21st Street on the south; Crestview
Avenue on the east; and Waterman Avenue on the west, including without limitation,
equipment and off-street parking for motor vehicles and all off-site and on-site
improvements necessary therefor and appurtenances and appurtenant work.(ltThe Projectlt)
NOW, THEREFORE, JT JS HEREBY RESOLVED, DETERMINED AND ORDERED BY THE
MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
SECTION 1. That the recitals set forth hereinabove are true and correct
in all respects.
SECTION 2. The City of San Bernardino, California, is a municipal
corporation duly created, established and authorized to transact business and
exercise its powers, all under and pursuant to the Constitution and laws of the
State of California, and the City Charter of the City, and the powers of the
City include the power to issue bonds for any of its corporate purposes.
SECTION 3. Pursuant to the Charter of the City and Ordinance No. 3815,
as amended, of the City, the City is legally authorized to issue special revenue
bonds for the permanent financing as described in the recitals hereof.
SECTION 4. This body constitutes the governing body of the City and is
legally authorized to provide for the issuance of such special revenue bonds by
the CUy.
SECTION 5. The Project referred to in the recitals hereof constitutes a
project which may be financed by the issuance of such special revenue bonds by
the City and located within the juriSdiction of the City.
SECTION 6. The Application referred to in the recitals hereof complies
with the provisions and requirements of said Ordinance No. 3815, as amended, and
the Project involved in such application is hereby approved and the provisions
of Subsection Cd) of Section 10 and Subsection Ca) of Section 11 of said Ordinance
No. 3815 shall not apply.
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SECTION 7. The City hereby declares its intention to exercise the
authority referred to in Section 3 hereof by issuing bonds of the City in
such amounts as will be adequate to implement the City financing of the Project.
SECTION B. The bonds shall be payable from the revenues described in
said Ordinance 3B15, as amended.
SECTION 9. The bonds shall be and are special obligations of the City,
and, subject to the right of the City to apply monies as provided in the
applicable laws, are secured by such revenues as are specified in the proceedings
for the issuance of such bonds and funds and accounts to be held by the trustee
or fiscal agent, and are payable as to principal, redemption price, if any, and
interest from the revenues of the City as therein described. The bonds are
not a debt of the City, the State of California, or any of its political sub-
divisions, and neither the City, the State, nor any of its political subdivisions
is liable thereon, nor, in any event, shall the bonds be payable out of any
funds or properties other than all or any part of the revenues, mortgage loans,
and funds and accounts as in this Resolution set forth. The bonds do not
constitute an indebtedness within the meaning of any constitutional or statutory
debt limitation or restriction. Neither the persons serving as the Mayor and
Common Council nor any persons executing the bonds shall be liable personally on
the bonds or subject to any personal liability or accountability by reason of
the issuance thereof.
SECTION 10. The details of such bonds, including the establishing of the
aggregate face amount of such obligations, shall be authorized by indenture,
resolution or resolutions of the City at a meeting or meetings to be held for
such purpose. The City Staff, Bond Counsel, Underwriters, the Applicants and the
Agents and Representatives of same are hereby authorized and directed to prepare
or cause to be prepared the necessary legal documents, including the Project
Agreements, Resolutions of Issuance, and such other documents as may be necessary
to effect said Project and the issuance of Industrial Development Revenue Bonds
therefor, and to present same to said Mayor and Common Council. The Mayor of the
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City is hereby authorized and directed to coordinate the efforts of all
concerned relating to the issuance and sale of the bonds, and the City staff,
consultants, legal counsel to the City and Bond Counsel are hereby directed
to take such steps as shall be appropriate to implement such sale and delivery
of the bonds, including working with persons who may acquire vested rights as
the result of such actions.
SECTION 11. This Resolution constitutes a proper exercise of the powers
of this Mayor and Common Council and conforms to State and local legal require-
ments relating to the issuance of such special revenue bonds and other bonds
or debt obligations by a charter city in this State.
SECTION 12. It is intended that this Resolution shall constitute such
"official action" toward the issuance of the bonds within the meaning of the
United States Treasury Regulations, the United States Tax Laws, and any legisla-
tion now or hereafter pending in the Congress of the United States which may
require official action in order for the bonds to be exempt from Federal income
taxation.
SECTION 13. At the closing of the financing, there shall be paid to the
City the fee set forth in Resolution No. 81-108. as amended by Resolution No.
81-410, of the Mayor and Common Council. adopted September 24.1981.
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I HEREBY CERTIFY that the foregoing Resolution was duly adopted by
the Mayor and Conmon Council of the City of San Bernardino at an adjourned regular
Meeting thereof, held on the 29th day of November. 1983. by the
following vote, to wit:
AYES: COUNCIL MEMBERS: Castaneda, Reilly, Hernandez,
~~arks, Ouiel
NAYS:
ABSENT:
None
Council nembers Frazier, Strickler
~P7?L?/~
CIl'Y CLERK
The foregoing Resolution is hereby approved this Jo/7t day of
November
. 198.3.
APPROVED AS TO FORM:
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CITY HORNEY
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PART I. GENERAL AND BUSINESS INFORMATION
1.1
Legal Name
California,
to-be-formed
of Applicant: BAI/Medical Equities
Inc.. as the General Partner for
Californta Partnership.
of
a
1.2 Line of Business: General Partner for a partnership
that will own and operate a medical office bUilding.
1.3 Mailing Address: c/o Medical Building Corporation
7777 Girard Avenue. Suite 202
La Jolla, CA 92037
1.4 Employee Tax 1.0. Number:
BAI/Medical Equities of California. Inc. Tax 1.0. Number
is 74-2230355. The partnership to be formed will apply
for an Employee 1.0. Number at a later date.
1.5 Name and Title of Principal Contact: Walker L. Patton,
Vice President of BAI/Medical Equities of California, Inc.,
the General Partner.
1.6 Telephone: 619/454-3196
1.7 Type of Business Organization: The General Partner
is a Corporation; The Partnership will be a California
Partnership.
1.7.1 Place of Organization: 7777 Girard Avenue, Suite 202
La Jolla. CA 92037
1.7.2 Date of Organization: March 29. 1982
1.7.3 The stockholders of BAI/Medical Equities of
California, Inc. are: Vernon Barge II, Thomas F.
Marshall, James W. WUbbena, Harrry Puckett, Jack
Lewis, and Vernon Barge III.
1.8 Constitution of ownership of the company, including
percentage of of holdings by general public.
Company will be owned by physicians and other partners
interested in the medical office bUilding. No portions
will be owned by the general public. All units will be
purchased through a private offering.
1.9 Names and locations of key officials, including:
1.9.1
Principal Officers of BAI/Medical Equities of
California, Inc.. the General Partner are:
Vernon Barge. President
4849 Greenville
Suite 1400
Dallas. TX 75206
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Thomas F. Marshall, Secretary Treas.
4849 Greenville
Suite 1400
Dallas, TX 75206
-~d L. Hock, Vice President
4849 Greenville
Suite 1400
Dallas, TX 75206
Walker L. Patton, Vice President
7777 Girard Ave.
La Jolla, CA 92037
John J. Feehan, Jr., Vice President
7777 Girard Ave.
Suite 202
La Jolla, CA 92037
1.9.3 Directors: The Directors are Vernon Barge II,
Thomas Marshall, and Edward L. Hock.
1.9.3 Principal Stockholders (over 10S ownership):
Vernon Barge II, and Thomas F. Marshall.
1.10 Description of other business affiliations of principal
officers, directors, and principal stockholders:
Barge Associates, Inc. - Holding Company.
Associates Funding, Inc. - Real Estate Financial Services.
Associates Management, Inc. - Real Estate Management.
BAI/Medical Equities of California, Inc. - General Partner
for a California Limited Partnership.
BAI/Medical Equities of Texas, Inc. - General Partner for
a Texas Limited Partnership.
BAI/Medical Place, Inc. - General Partner for a Texas
Limited Partnership.
Barge Aviation, Inc. - Corporate Aviation.
BankDesign and Construction - Development and Construction
Company for Bank Buildings.
Medical Building Corporation - Development and Construc-
tion Company for Medical Office Buildings.
Barge, Marshall, and Puckett, Inc. - Development and
Construction Company for Multi-Family Buildings.
1.11 Employees
1.11.1 Number of Employees in California: None.
1.11.2 Locations in California: 7777 Girard Avenue, Suite
202, La Jolla, California 92037
1.12 Expert Services:
1.12.1 The applicant's accountant and principal contact at
such firm: Not yet selected.
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1.12.2
The applicant's attorney and principal contact at
such firm:
1.12.3
Mr. Fred Jay,-~artner
Friedman, Jay and Cramer
111 Elm Street
San Diego, CA
Any experts or firms of experts that will be
involved and the principal contact at each firm.
Mr. Walker Patton, Vice President
Mr. John J. Feehan, Jr., Development Officer
Medical Building Corporation
7777 Girard Avenue, Suite 202
La Jolla, CA 92037
Mr. James Lazar, Vice President
Associates Funding Inc.
4849 Greenville, Suite 1403
Dallas, TX 75206
1.13 Principal bank of account and name of officer handling
account: Not selected as yet.
1.14 Source of Funding for the Project:
The source of funding for the project will be a
combination of cash contributed by BAI/Medical Equities
of California, Inc.; physicians subscribing to the
to-be-formed partnership; BAI/Medical Equities of
California, Inc. shareholders and possible affiliates; and
loan proceeds from Industrial Development Bonds issued
under the auspices of the City of San Bernardino.
PART II. BOND ISSUE
2.1 Provide the estimated total amount of the financing with a
tabulation of the proposed use of bond proceeds including:
2.1.1 Project Cost: $3,971,000 includes cost of building
approximately a 40,000 square foot shell, suite
finish allowance, site preparation, architectural
and engineering fees, construction management,
leasing and suite design fees, and soft costs
described below. Of the above, $3,000,000 in
bonds is requested. $971,000 will be contributed
by the partners for a total proj~ct capitaliza-
tion of $3,971,000.
2.1.2 Legal, printing and related fees: $70,000.
2.1.3 Financing costs and fees: $130,000
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2.1.4 Capitalized interest: $146,000
2.1.5 Other miscellaneous costs:
Appraisal fees:
Inspection fees:
Title Insurance:
Misc. & Contingency:
$ 5,000
$ 5,000
$10,000
$55,000
2.2 Estimated Target Date of Financing: May 1984.
2.3 Estimated Times of Financing: May 1984 - March 1986
2.4 Type of Bond Sale: Private placement with institutional
purchaser.
PART III. FINANCIAL INFORMATION
3.1 Financial statements certified or prepared by a CPA, from
three most recent fiscal years, including the following:
3.1.1 Balance Sheet: NIA at this time.
3.1.2 Income Statement: NIA at this time.
3.1.3 Analysis of sources and application of funds:
NIA at this time. Per phone converation with Ms.
Glenda Saul, Acting Executive Director of the
Redevelopment Agency, on Nov. 16, 1983, no financial
information need be attached since the partnership
making application has not yet been formed. If
financial information is required at a later date,
she will advise accordingly.
3.2 Advise as to whether applicant is a small business, and a
description of the applicant's ranking and relative size
(small, medium, large) in its industry. If a small
business loan is involved, please give details, and if a
federal guarantee is to be used, a certificate of
financial disadvantage should be provided by the qualified
sponsor.
Partnership making application will be small in its
industry ranking. No small business loan will be involved.
PART IV. PROJECT INFORMATION
4.1 A short summary of the purpose, objective and function of
the proposed project.
The purpose of the project is to construct a 40,000
square foot medical office building on the campus of
St. Bernardine Hospital, San Bernardino, California.
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The proposed project will function as an office building
for a wide range of physician primary care and surgical
specialities. It is anticipated a building this size will
house approximately 30-35 physicians and related ancillary
services. Depending ~n St. Bernardine's final decision
regarding ancillary services, the actual size may vary.
Enclosed are information brochures that describe recent
similar type projects.
4.2 A description of the components and the estimated total
cost of the functional parts of the project, including:
4.2.1 Land - The building will be situated on a parcel of
land located on the campus of St. Bernardine
Hospital. The hospital will lease the land to a
Partnership consisting of BAI/Medical Equities of
California, Inc., as the General Partner and a
to-be-formed group of physicians and General Partner
affiliates acting as additional partners. The land
will be leased for a period of 65 years.
4.2.2
Buildings -
square foot,
There will be one 40,000 gross
three story medical office building.
4.2.3 A tabulation of equipment - Equipment contained as
part of the building will be:
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Internal cabinet and reception desks within each
suite finish allowance.
Central hot water heater with circulation loop.
Electrical main switch gear and panels.
Rooftop heating, ventilation, and air condition-
ing system.
Hydraulic elevator equipment.
Restrooms.
.
.
.
.
.
4.2.4 Engineering and technical services: To be provided
as part of services recorded in connection with
construction of medical office building.
4.2.5 Other or miscellaneous items (describe and tabulate):
H/A
NOTE: The regulations of the Internal Revenue Service
define eligible facilities, and formulate their
nonproductive values. They should b~ consulted for
its definitions.
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4.3 Estimated Construction period:
4.3.1 Scheduled starting date: Dec. 1984
4.3.2 Scheduled completion date: Jan. 1985
4.4 Name and location of the applicant's supervising or
consulting engineer responsible for design of the project:
Medical Building Corporation
7777 Girard Avenue, Suite 202
La Jolla, CA 92037
4.5
The location
installations
all.
of the proposed project. If duplicated
in several locations, list all addresses of
The project will be on
bounded by Highland Avenue
South, Crestview Avenue on
the West.
the eastern
on the North,
the East, and
half of the block
21st Street on the
Waterman Avenue on
4.6 Advise as to whether project site is a new location. If
not, describe what expansion or alteration will be made.
The project will be on a new location. The land is
currently used as a parking lot.
4.7 Name of legal owner of location:
4.7.1 If not owned by applicant, advise terms and nature of
occupancy.
The land shall be leased from St. Bernardine Hospital
for a period of 65 years. The rent shall be payable
as follows: $100 per year for the first two years;
years three and four $25,000 per year; years five
through fourteen the minimum rent shall be $45,000
annually, CPI adjusted from a base year of 1983. Year
fifteen and thereafter the minimum rent shall be 101
of the fair market value of the property.
4.7.2 If there is or will be a legal relationship between
the applicant and owner of the location, describe the
relationship.
The legal relationship between the applicant and
owner will be a contractual one embod1ed in the terms
of the ground lease. The owner of the location may
also lease space in the project.
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~.8 A description of the operations that are or are to be
conducted at the location of the proposed project, and the
scope, magnitude and process relationships of the proposed
project, including:
~.8.1
An 8-1/2" X 11" map showing the site location of
the project is enclosed as exhibit 1.
A description of the plant process. N/A
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~.9 List the environmental quality regulations, standards or
requirements which are to be met within this project.
Any environmental review,
permit process, will be
Bernardino.
which is part of the building
considered by the City of San
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A list and copies of all permits,
enforcement orders, air pollution permits
evidence of other actions evidencing need
of this project.
N/A
water quality
and variances or
for installation
~.11 List pollution control agencies (local, state and federal)
imposing the applicable regulations, standards or
requirements for operations or disposal.
The building shall comply
public health codes of
Bernardino.
with all applicable building and
the City and County of San
4.12 Describe the regional county or basin plan to which this
project is to conform, and the manner in which it will
provide conformance.
The project will conform to all the zoning and building
code requirements of the City of San Bernardino. In
addition, it shall be reviewed by the City of San
Bernardino to conform to all parking, bulk, height, and
setback requirements in accordance with any master plan
filed by St. Bernardine Hospital.
4.13 Describe the by-products or residues of the project, and
where and how ultimate disposal will be accomplished. If
recycling or salvage is to be a function, advise as to
market opportunities.
NIA
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PART V. PUBLIC BENEFITS
5.1
Describe the benefits that will accrue
its citizens as a_ result of the
facility and the use of this method of
a conventional method.
to the City and
installation of this
financing. vis-a-vis
Population growth forecasts by State of California Office
of Statewide Health Planning and Development. San
Bernardino Area Chamber of Commerce. and Chase Econometrics
indicate that the population of the San Bernardino area
will grow at an annual rate between 1982 and 1988 of 3.691.
3.441. and 3.71 respectively. These figures project the
City of San Bernardino and its surrounding area to be one
of the fastest growing areas in the country.
To accommodate this growth and to provide the City of San
Bernardino with the hospital beds that it will need.
St. Bernardine has received State approval for and
recently completed a 53 bed expansion of the hospital.
By 1990. St. Bernardine is planning to add an additional
138 beds. A Certificate of Need for these 138 beds has been
applied for.
In order to provide adequate patient care and. as a
minimum. to keep the current ratio of staff physicians to
hospital beds constant. St. Bernardine will need to provide
office space for an additional 30 to 35 physicians on
campus.
An on-campus medical office building is particularly
important for keeping health care costs low. When a
physician is based in a hospital building close to his
patients. he can avoid wasteful daily commuting time
between his office and patients. If a physician is as much
as ten minutes away from the hospital and makes only two
trips per day to see inpatients. he will lose 40 minutes
each day in travel time. That 40 minutes can be spent
seeing additional patients. This increased practice
efficiency. will lower physician overhead costs.
Office ratio costs are another important factor in health
care costs. Because this will be a physician owned medical
office building. a physician's occupancy costs will be less
in an ownership situation than as a rental. These savings
are a result of depreciation and other tax deductible items
not available to a renter.
Some physicians. because of age or personal financial
circumstances. need to rent rather than own. Exhibit Two
illustrates that comparable hospital based medical office
buildings in the San Bernardino/Riverside area are
currently renting for approximately $1.36/SF/Month.
Because of today's higher interest rates and inflation in
construction costs. it would not be possible to construct a
medical office building with such comparable rents unless
tax exempt financing were available.
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As the nationwide population of physicians increases over the
next five years, it is important that offices be provided so
that the City of San Bernardino can obtain its share of these
physicians. More physicians will mean more competition. More
competition will mean lower health costs. This is particularly
true now that third party payers are demanding competitively
priced services. A campus physician owned medical office
building is a key factor in attracting these physicians.
In addition to cost factors, there are the following
additional benefits:
· Physicians occupying a building adjacent to a hospital
enjoy a highly desirable professional atmosphere.
Moreover, the higher professional character of such a
building tends to preserve itself because of contiguity
with the hospital.
· While on duty, each physician will only be minutes
away from his acutely-ill patients.
· The close proximity to
enhance the development
services.
St. Bernardine Hospital will
of new and better patient
· Physicians' patients needing more sophisticated
diagnostic or therapeutic procedures than those offered
in their individual suites can obtain these services
more readily because of the close proximity of the
hospital.
· Proximity to other referring physicians.
· A new custom-designed, highly-efficient practice space
will further improve a physician's productivity.
· As noted in City Ordinance 3815, it was determined that
"facilitating nonprofit organizations in the providing
of health care services with the aim of the reduction of
health care costs or the provision of better health
care, or both, is a public purpose in which the City has
a peculiar and unique interest and also municipal
affairs as those terms are defined by California law."
This medical office building will help achieve this
goal.
5.2 In particular, the application should ad~ress the findings
in Section 1 of the Ordinance, and should show that the
applicant is locating in the City for long-term business
reasons and not merely because of any financial inducement
offered by the Ordinance. Applicant should outline the
program by which it is expected that its activity in the
City will increase long-term employment of local residents
and that the City will receive a substantial benefit that
exceeds any detriment incurred.
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The partnership shall be leasing the building for 65 years.
After the term of the lease is ended, the building will
revert to St. Bernardine Hospital. The construction of the
building will proceed because of the hospital's expansion
plans. St. Bernardine has been a hospital in the community
for over 50 years. -~ts commitment to the health care of
San Bernardino is already planned and taking shape for the
next century.
The construction of this medical office building will
enable St. Bernardine Hospital to provide the citizens of
San Bernardino the opportunity to obtain additional high
quality physician care. Since the bUilding will be owned by
the physicians, the physicians will be motivated to take
both a long-term interest in the hospital and city. This
unique ownership structure allows the bUilding to be built
at no cost to taxpayers or hospital revenues.
A building of this size is expected to house 30-35
physicians. In addition to the physician staff, it is
anticipated that there will be a need for an additional
30-40 registered nurses, 30-40 secretary-receptionists, 30
insurance claim specialists, and 5-15 affiliated health pro-
fessionals (pharmacists, physical therapists, psychologists,
optometrists, and laboratory/X-ray technicians). It is
possible that the hospital may lease space for additional
ancillary facilities. Any additional ancillary service
shall result in additional long term employment
opportunities.
PART VI. COMMITMENTS
6.1 The application shall be supplemented with a commitment by
the applicant to comply, and/or to assist the City in
complying, with all state and federal laws in the issuance
of the bonds, including, without limitation, the making of
any required application to a governmental department, for
authorization, qualifications or registration of the offer,
issuance or sale of the bonds, and any amendments thereto,
and any permit or other authorization of such governmental
department, prior to the delivery by the City of such bonds.
The applicant shall comply and will assist the City in
complying with all state and federal laws in the issuance of
bonds, including without limitation, the making of any
required application to a governmental department, for
authorization, qualification or registration of the offer,
issuance or sale of the bonds, and any amendments thereto,
and any permit or other authorizations of such governmental
department, prior to the delivery by the-City of such bonds.
6.2 The application shall be supplemented with (i) a commitment
by the applicant to cause and/or to assist the City in
causing to be printed any prospectus or other written or
printed communication proposed to be published in connection
with the issuance, offer or sale of bonds, prior to the
delivery by the City of such bonds, and, if deemed necessary
by the City, following the delivery of such bonds.
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The applicant hereby commits to cause and/or assist the City
in causing to be printed any prospectus or other written or
printed communication proposed to be published in connection
with the issuance, ~ffer or sale of bonds, prior to the
delivery by the City of such bonds, and, if deemed necessary
by the City, following delivery of such bonds.
6.3 All commitments by the applicant shall specifically provide
for the applicant to pay all expenses in connection with the
issuance, offer or sale of the bonds, whether or not they
are finally issued, to hold the City harmless from any and
all expenses related thereto and to pay items on an ongoing
basis so that neither the City, nor its advisors, attorneys,
employees and the like will accumulate any claims against
the City.
The applicant hereby warrants that it will pay all
expenses in connection with the issuance, offer or sale of
the bonds, whether or not they are finally issued, to hold
the City harmless from any and all expenses related
thereto and to pay items on an ongoing basis so that neither
the City, nor the advisors, attorneys, employees and the
like will accumulate any claims against the City.
6.4 Any additional information, agreements and undertakings as
the City may require as a result of various conferences and
negotiations shall be reproduced in written, printed or
other tangible form, shall be supplied in as many copies as
the City prescribes and shall be deemed supplements or
amendments to the application.
Applicant hereby agrees that any additional information,
agreements and undertakings as the City may require as a
result of various conferences and negotiations shall be
reproduced in written, printed or other tangible form, shall
be supplied in as many copies as the City prescribes and
shall be deemed supplements or amendments to the
application.
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PART VII. SIGNATURE
I hereby certify that I have authority to bind BAI/Med1cal
Equities of California, Inc. to the contract terms of this
application. To the best of my knowledge, this application
contains no false or incorrect information or data, and the
application, including exhibits and attachments is truly
descriptive of the project. I hereby warrant that I am familiar
with Ordinance Number 3815 of the City of San Bernardino which
seeks to promote industrial growth within the City approved
November 26, 1979.
tfL J..Q-c.-...J ~ 57
VERNON BARGE J/
President
BAI/Med1cal Equities of California, Inc.
General Partner for the Partnership.
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8.1 Fee of $500 is hereby enclosed.
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