HomeMy WebLinkAboutS1-Parks and Recreation
CITY OF SAN BERH"'RDINO - REQUEST r~R COUNCIL ACTION
From:
Fred Wilson/Barbara pachon
Asst. City Administrator/
Finance Director
Subject: Restructurin'1 of Community Facili tie
District #995
Dept:
Dn~ July 27, 1994
Synopsis of Previous Council action:
Recommended motion:
Adopt resolutions.
Contact person:
Fred Wilson/Barbara Pachon
Phone:
5122/5242
Supporting data attached: yes
Ward:
FUNDING REQUIREMENTS:
Amount:
Source: (Acct. No.)
+~
(Acct. Description)
Finance~~ /Z
Council Notes:
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75-0262
SI-il,b,c.v,e
Agenda Item ,,, I
MAYOR AND COMMON COUNCIL
OF THE
CITY OF SAN BERNARDINO
AGENDA Auoust 1. 1994
STAFF REPORT
TO:
Mayor and Common Council
FROM:
Staff
DATE:
July 27, 1994
RE:
[Not to Exceed] $3,500,000 Community Facilities District
No. 995 of the City of San Bernardino (Verdemont Area)
Special Tax Refunding Bonds; Our File SBE00125
Backoround
In June, 1990, the City of San Bernardino (the "City")
formed Community Facilities District No. 995 (the "District"),
levied a special tax and issued the $7,440,000 City of San
Bernardino Community Facilities District No. 995 (Verdemont Area)
Special Tax Bonds (the "Prior Bonds") .
163 of the proposed 591 homes were built and sold. 428
remain undeveloped. Certain amounts of special taxes levied
against a substantial number of undeveloped parcels became
delinquent and remain unpaid for fiscal years 1992-93 and 1993-94.
As a result, four judicial foreclosure actions were filed in San
Bernardino County Superior Court against the delinquent property
owners. City Staff on behalf of the City and the parties to the
actions, including other owners of parcels with delinquent special
taxes who were not parties to the actions, have negotiated a
settlement of the disputes between the parties.
The proposed settlement agreement provides that refunding
bonds in an amount not to exceed $3,500,000 will be issued in order
to lower the debt service payments required to be made by the
parcel owners. The remaining portion of the outstanding Prior
Bonds will be redeemed or paid prior to the issuance of the
refunding bonds from unexpended City Verdemont Infrastructure Fees
and School District Fees.
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special
special
year) .
Debt Service on the refunding bonds shall be paid from
tax payments received from the 163 home owners. (Average
tax of $1,200 per house per year will generate $195,600 per
Payments of delinquent taxes plus interest will be made
by the developers owning parcels with delinquent taxes commencing
June 1, 1995 through June 1, 1999. These payments shall be applied
to supplement any deficiencies in the payment of debt service on
the refunding bonds, and then to the mandatory redemption thereof.
City Staff has also worked with outside consultants in
order to create a special tax formula which will provide sufficient
coverage for the refunding bonds. In the event the City is unable
to issue refunding bonds by September 1, 1994, the City Staff has
requested and received data from outside consultants which
effectively shows the special backup tax required in order to pay
debt service on the Prior Bonds to prevent default.
Staff Recommendation
In order to prevent default on the Prior Bonds on
September 1, 1994, City Staff recommends adoption of the following
resolutions:
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO APPROVING A CERTAIN MUTUAL RELEASE AND SETTLEMENT
AGREEMENT WITH OWNERS OF AND INTEREST HOLDERS IN UNDEVELOPED
PARCELS WITHIN COMMUNITY FACILITIES DISTRICT NO. 995.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO AUTHORIZING THE FILING OF A JUDICIAL FORECLOSURE ACTION
AGAINST CALIFORNIA PROPERTIES FUND AND RATIFYING JUDICIAL
FORECLOSURE ACTIONS BEARING CASE NOS. SCV09593, SCV09594, SBC109793
AND SCV09790.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED
$3,500,000 COMMUNITY FACILITIES DISTRICT NO. 995 OF THE
CITY OF SAN BERNARDINO (VERDEMONT AREA) SPECIAL TAX
REFUNDING BONDS, APPROVING THE FORM OF LEGAL DOCUMENTS
RELATED THERETO AND AUTHORIZING AND DIRECTING
PREPARATION, EXECUTION AND DELIVERY OF THE FINAL FORMS
THEREOF
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO ESTABLISHING ANNUAL SPECIAL TAX FOR FISCAL
YEAR 1994/95 FOR COMMUNITY FACILITIES DISTRICT NO. 995
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING THE REDEMPTION OF A PORTION OF
CERTAIN BONDS ENTITLED COMMUNITY FACILITIES DISTRICT NO.
995 OF THE CITY OF SAN BERNARDINO (VERDEMONT AREA)
SPECIAL TAX BONDS, APPROVING THE FORM OF ESCROW AGREEMENT
RELATED THERETO AND AUTHORIZING AND DIRECTING
PREPARATION, EXECUTION AND DELIVERY OF THE FINAL FORM
THEREOF
S8EO\0125\DOC\14
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Item:
Action to
be Taken:
MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA
AGENDA
August 1, 1994
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO APPROVING A CERTAIN MUTUAL
RELEASE AND SETTLEMENT AGREEMENT WITH OWNERS OF
AND INTEREST HOLDERS IN UNDEVELOPED PARCELS
WITHIN COMMUNITY FACILITIES DISTRICT NO. 995
Adopt Resolution.
Certified copy of Resolution to be returned to Sabo & Green, A
Professional Corporation.
SBEO/0121/DOC/19
7/26/94 3:05
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO APPROVING A
CERTAIN MUTUAL RELEASE AND SETTLEMENT
AGREEMENT WITH OWNERS OF AND INTEREST
HOLDERS IN UNDEVELOPED PARCELS WITHIN
COMMUNITY FACILITIES DISTRICT NO. 995
("City")
WHEREAS, on June 18, 1990, the City of San Bernardino
created Community Facilities District No. 995
("District") pursuant to the Mello-Roos Community Facilities Act
of 1982, codified at General Code Section 53311 et. gg. ("Act");
and
WHEREAS, pursuant to the Act, in December, 1990, the
City issued $7,325,000 Special Tax Limited Obligation Bonds,
which are secured by the special taxes authorized to be levied
against all parcels within the District; and
WHEREAS, certain sums of special taxes duly levied
pursuant to the Act against certain undeveloped parcels within
the District subsequently became delinquent and remain unpaid;
and
WHEREAS, on January 14, 1994 and January 24, 1994, four
(4) actions for judicial foreclosure of special tax liens were
commenced in the San Bernardino Superior Court o~ behalf of the
City against San Bernardino S.B.
Five,
Limi ted Partnership,
Lakeview
Development
Company,
One
Forty
Seven
Limited
Partnership, American National (sic) Bank, Donald E. Davis, Ruth
Newbury, Irving M. Feldkamp III, Orange Coast Title Company, Ken
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A. Kazarian, James C. Bice, Brimar Industries, Inc., and Does 1-
100, bearing Case Nos. SCV09593, SCV09594, SBCI09793 and
SCV09790; and
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WHEREAS, pursuant to Section 53356.1 of the Act, the
City has ratified the judicial foreclosure actions filed on
January 14, 1994 and January 24, 1994 bearing San Bernardino
Superior Court Case Nos. SCV09593, SCV09594, SBCI09793 and
SCV09790, and has authorized the filing of an action for judicial
foreclosure of the delinquent special tax liens associated with
the undeveloped parcels owned by California Properties Fund
within the District; and
WHEREAS, the parties to the above referenced actions
for judicial foreclosure now desire to resolve their differences
and to avoid the expense and inconvenience of any future
litigation.
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
Section 1. The Mayor and Common Council hereby
approve the Mutual Release and Settlement Agreement with the
owners of, and interest holders in undeveloped parcels within the
District in the form attached hereto as Exhibit "A" and
incorporated herein by this reference.
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Section 2. The Mayor of the City is hereby
authorized and directed to execute the Mutual Release and
Settlement Agreement on behalf of the City with any such changes
as may be approved by the Mayor and Counsel for the City.
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
. BERNARDINO APPROVING A CERTAIN MUTUAL RELEASE AND SETTLEMENT
AGREEMENT WITH OWNERS OF AND INTEREST HOLDERS IN UNDEVELOPED
PARCELS WITHIN COMMUNITY FACILITIES DISTRICT NO. 995
This Resolution shall become effective
Section 3.
immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the City of
San Bernardino at a
thereof, held on the
day of
meeting
1994, by the following vote, to wit:
AYES:
Council Members
NAYS:
ABSENT:
The foregoing resolution is
day of , 1994.
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
25 By:
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City Clerk
hereby approved this
Mayor of the City of
San Bernardino
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STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or proved to
me on the basis of satisfactory evidence) to be the person(s)
whose name (s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
EXHIBIT "A"
MUTUAL RELEASE AND SETTLEMENT AGREEMENT
This Mutual Release and Settlement Agreement
("Agreement") is entered into this day of August, 1994, by
and between the CITY OF SAN BERNARDINO ("City") and James C. Bice,
Thomas W. Coenen and Betsy A. Coenen, One Fifty Limited
Partnership, California Properties Fund, Brimar Industries, Inc.,
Security Trust Company, Julian A. Pearson, National Bank of Long
Beach, Orange Coast Title Company, Donald E. Davis, Ruth Newburg,
Irving M. Feldkamp III, Ken A. Kazarian, Lakeview Development
Company, One Forty-Seven Limited Partnership, American
International Bank, and San Bernardino Sb Five Limited (jointly
referred to herein as "Developers"). The City and Developers ar"!
collectively referred to as the "Parties".
1 . RECITALS
1.1. Each of the Developers own or have an interest in
unimproved property located within the City's Mello-Roos District
No. 995, which properties and the Developers owning or having an
interest. in them, are more fully described in Exhibit "A" attached
hereto. On or about January 14, 1994, and January 24, 1994, the
City commenced four (4) actions for judicial foreclosure of
delinquent special taxes in the Superior Court of the State of
California for the County of San Bernardino, against certain named
defendants therein, including Developers, bearing Case Nos.
SCV09593, SCV09594, SBCI09793, and SCV09790. A dispute concerning
delinquent special taxes also exists between the City and
California Properties Fund. Case Nos. SCV09593, SCV09594,
SBCI09793, and SCV09790 and the dispute with California Properties
Fund shall collectively be referred to as the "Actions".
1.2. The Parties now desire to resolve their differences
and to avoid the expense and inconvenience of any future
litigation, including without limitation, litigation of the
Actions.
1.3. Except as expressly reserved herein, it is the
intention of the Parties hereto to settle and dispose of, fully and
completely, any and all claims, demands and causes of action
relating to the Actions, or to any dealings between the City and
the Developers prior to the effective date of this Agreement and
relating to the subject matter hereof.
1. 4. In
promises herein
hereafter.
consideration of the covenants,
contained, the Parties agree
conditions and
as . set forth
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2. SETTLEMENT TERMS AND CONDITIONS
2.1. Each of the Developers shall pay, with respect to
that Developer's property, delinquent fiscal year 1991-92, 1992-93,
and 1993-94 special taxes in five (5) equal payments of principal
and interest amortized for five (5) years, with the first payment
commencing one (1) year after the effective date of this Agreement
and subsequent payments to be paid annually thereafter. The
principal amount of the debt shall be equal to delinquent special
taxes, interest, penalties, collection costs, legal fees associated
with the Actions, and consultant fees which have been paid or
incurred by the City as of the date of this Agreement, related to
the 1991-92, 1992-93, and 1993-94 delinquent special taxes.
Delinquent tax amounts shall bear interest at the rate of eight
percent (8%) per annum, commencing upon the date of the issuance of
the Refunding Bonds, until paid. The five (5) equal payments made
under this Section and prepayments, if any, shall be applied to
mandatory redemption of the Refunding Bonds, after any deficiencies
under Section 2.9 for the payment of debt service on the Refunding
Bonds have been paid. Late payments shall bear interest at the
rate of ten percent :10%} per annum until paid, and shall also be
applied to cause a mandatory redemption of the Refunding Bonds.
Developers shall be authorized to sell their properties during such
time as the 1991-92, 1992-93, and 1993-94 delinquencies associated
with the properties remain in existence, provided that the City's
security in the properties is not diminished. Upon each and every
sale, Developers shall either substitute collateral as determined
to be adequate by the City, or agree to pay the release price per
lot sale as established by the City.
2.2. In the event any payment due under this Agreement is
not received within ten (10) days of its due date, City may at its
option cause entry of the Judgments as set forth in Sections 2.10
and 5.1 below against the defaulting Developers, bring suit under
this Agreement or proceed with any and all other remedies available
to it at law or in equity.
2.3. Each of the Developers shall also pay, with respect
to that Developer's property, the Verdemont Infrastructure Fees at
such time as development occurs, at the rate applicable in
December, 1990, or such lesser amount as may then be imposed.
2.4. Each of the Developers shall also pay, with respect
to that Developer's Property, school facilities mitigation fees at
such time as development occurs, at the rate then in effect as
determined by the San Bernardino City Unified School District
( "School District") .
2.5. In addition to the Verdemont Infrastructure Fees to
be paid pursuant to Section 2.3 above, each of the Developers shall
also pay to the City that Developer's proportionate amount of
school facilities mitigation fees representing houses previously
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built for which no school facilities mitigation fees have been paid
(i.e., 163 houses x $3,502 per house = $570,826), unless the School
District otherwise agrees in. writing to waive such school
facilities mitigation fees.
2.6. Developers shall agree that no additional Mello-Roos
bonds with respect to their properties will be issued until the
special tax formula is amended to provide that any special tax
increases which are attributable to such additional bonds will not
cause an increase in the then levied special tax amount to the 163
homeowners as the principal amount of the Refunding Bonds is
reduced by mandatory redemptions from Developer payments of fiscal
year 1992-93 and 1993-94 delinquencies, plus interest pursuant to
Section 2.1 above.
2.7. Each of the Developers shall indemnify, defend and
hold harmless the Ci~y, its elected officials, staff, employees and
consultants, other than as provided in Section 2.8 below, from any
financial liability or loss, including attorneys' fees and court
costs as a result of any City actions with respect to the issuance
of the Bonds, the levy of the special tax, the formation of Mello-
Roos District No. 995 and the implementation thereof, the
interpretation of the Bond documents, and from any cross-complaints
or other actions as may be filed as a result of the Developers'
lawsuits pursuant to Section 2.8 below.
2.8. Developers may file suit in an effort to obtain any
financial relief from Orrick, Herrington & Sutcliff, David Taussig
& Associates, prudential-Bache Capital Funding, Lillick & McHose,
and/or Charles R. wilson & Associates, Inc. No relief shall be
sought or obtained against the City in any such action.
2.9. Refunding Bonds shall be issued, the proceeds of
which, together with unexpended Verdemont Infrastructure Fees and
school facilities mitigation fees, will be sufficient to pay the
September 1, 1994 principal and interest payment on the 1990 Bonds
and will establish a defeasance escrow fund that will satisfy and
discharge the claims of the owners of the 1990 Bonds under the
Fiscal Agent Agreement dated November 1, 1990. The Refunding Bonds
debt service shall be provided from the 163 single family houses
(i.e., 163 houses x $1,300 per house = 211,900 per year).
Mandatory redemptions of the Refunding Bonds shall be made from
payments by the Developers as provided in Section 2.1 above.
Vacant land shall remain contingently liable for the Refunding Bond
debt service and administrative costs, but it is the intent that
the vacant land should pay only a nominal special tax, if any.
2.10. Concurrent with the execution of this Agreement,
Developers shall provide counsel for the City with executed
Stipulations For Entry Of Judgment (" Stipulations"), copies of
which are attached hereto as Exhibit "B" and are incorporated
herein by this reference. Counsel for the City may cause the
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Stipulations to be filed with the San Bernardino Superior"Court
immediately thereafter. In accordance with the Stipulations, the
City may cause entry of Judgments, copies of which are attached
hereto as Exhibit "C" and are incorporated herein by this
reference, against Developers in the event any payment due under
this Agreement is not received within ten (10) days of its due
date, or any condition set forth under this Agreement is not
satisfied. The Stipulations further provide that upon payment in
full of the sums due under this Agreement and upon occurrence of
the conditions set forth under this Agreement, the City shall cause
dismissal{s} to be filed in the applicable Action(s).
Notwithstanding Code of civil Procedure Section 583.310 and any
applicable statute of limitations, the City shall have the right to
cause entry of Judgments in the Actions without penalty should thi:3
Agreement not be consummated. The parties expressly agree to waive
code of Civil Procedure Section 583.310 and any applicable statute
of limitations to the extent necessary to allow the City to cause
entry of Judgments in the Actions in the event the settlement
contemplated within this Agreement is not consummated.
2.11. Developers shall bear their own attorneys' fees
and costs incurred in connection with the Actions.
2.12. This Agreement has been duly ratified, accepted
and consented to by the City, through the action of its City
Council. The representatives signing this Agreement on behalf of
the City expressly represent that he or they do so with the full
authority and consent of the City.
3 . RELEASE
3.1. Upon the occurrence of the events and conditions set
forth in Sections 2.1 through 2.12, inclusive, the City, on its own
behalf and on behalf of its agents, assignees, transferees,
representatives and successors in interest, fully and generally
release and forever discharge Developers and their past and present
representatives, predecessors, successors and assigns, insurers,
attorneys, employees, officers, trustees, directors, agents,
consultants, servants, partners, limited partners, other
representatives and their related entities, and all persons acting
by, through and/or in concert with any of them, from and against
any and all claims, any and all known and unknown liabilities,
demands, damages, expenses, costs, attorneys' fees, obligations,
and causes of action of any kind whatsoever related to or arising
out of the Actions, or which could have been alleged in the
Actions.
3.2. Upon the occurrence of the events and conditions s7t
forth in Sections 2.1 through 2.12 inclusive, Developers on the~r
own behalf and on behalf of their agents, assignees, transferees,
representatives and successors in interest, fully and generally
release and forever discharge the City and its past or present
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representatives, predecessors, successors, assigns, insurers,
attorneys, employees, officers, trustees, directors, agents,
consultants, servants, partners, limited partners, other
representatives and their related entities, and all persons acting
by, through and/or in concert with any of them, from and against
any and all claims, and any and all known and unknown liabilities,
demands, damages, expenses, costs, attorneys' fees, obligations,
and causes of action of any kind whatsoever arising out of the
Actions, or which could have been alleged in the Actions.
3.3. Each Party acknowledges that the release set forth
herein by the Parties hereto is a full and complete general release
of the claims for damages, debts, liabilities, demands,
obligations, costs, expenses, compensation, actions, and causes of
action, which are described herein, and is intended to encompass
all known and unknown, foreseen and unforeseen, claims which
Developers and the City may have against one another. Accordingly,
each Party hereto does hereby expressly waive and relinquish any
and all rights and benefits which each may otherwise have against
the other pursuant to Section 1542 of the California Civil Code
which provides that:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS
WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN HIS FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM, MUST HAVE
MATERIALLY AFFECTED HIS SETTLEMENT WITH. THE
DEBTOR.
3.4. Each Party acknowledges that he, she or it may
hereafter discover facts different from, or in addition to, those
which he, she or it now knows or believe to be true, with respect
to the Actions or other matters which are the subject of this
Agreement, and the Parties each hereby expressly agree to assume
the risk of the possible discovery of additional or different
facts, and agree that this Agreement shall be and remain effective
in all respects regardless of such additional or different facts.
3.5. The Parties warrant that, except as provided herein,
each has the power to settle and release fully and completely all
claims, causes of action, demands, charges, and liabilities against
the other, arising out of or relating to the Actions, and that each
person is duly authorized and empowered to sign this Agreement.
4.
MISCELLANEOUS PROVISIONS.
4. L This Agreement shall
executors, administrators, successors
assignees of each Party herein. It
benefit of each Party's respective
servants, directors, shareholders,
bind the respective heirs,
in interest, transferees, and
shall bind and inure to the
past or present employees,
agents, insurers, partners,
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limited partners, attorneys, successors in interest,
representatives, related entities and assigns.
other
4.2. This Agreement contains the entire understanding of
the Parties with respect to the subject matter hereof, and no
modification or waiver of any of the provisions hereof shall be
valid unless and until it is put into writing and executed by the
Party(s) to be bound thereby.
4.3. This Agreement shall be governed in accordance with
the Laws of the State of California. Any action brought to enforce
or interpret this Agreement, or any part thereof, shall be brought
in the State of California, in the County of San Bernardino.
4.4. Whenever possible, each provision of the Agreement
shall be interpreted in such a manner as to be valid under
applicable California law; but, if any provision of this Agreement
shall be declared or determined by any court to be illegal or
invalid, the validity of the remaining parts, terms or provisions
shall not be affected thereby and any such illegal or invalid part,
term or provision shall not be deemed to be part of this Agreement.
4.5. The Parties each represent that they have
investigated the facts they deem necessary, have consulted with
their respective legal counsel regarding said facts and the
attendant risks of settlement pursuant to this Agreement, and are
not relying upon any representations or acknowledgement, whether
oral or in writing, of any other Party hereto except as contained
herein.
4.6. The Parties hereto agree to perform such acts and to
prepare, execute, file and record any documents or stipulations
reasonably required to perform the covenants and satisfy the
conditions herein contained.
4.7. This Agreement is the compromise of disputed claims
and upon the performance of the covenants contained herein by
Developers, fully and finally settles all claims between Developers
and the City stemming from any and all dealings, contracts or
transactions between them, from the beginning of time, related to
the subject matter hereof, and is intended to buy peace and to
prevent any further involvements and disputes. Neither the payment
of any consideration hereunder or anything contained. in. this
Agreement shall be interpreted or construed to be an adm~ss~on on
the part of, or to the prejudice of any Party to this Agreement.
Except for the obligations created by this document and the
Exhibits attached hereto which are incorporated by reference
herein, each Party hereto expressly denies any and ~ll liabi~ity
associated with or related to the Actions and cla~ms descr~bed
therein.
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. 4.8. Each Party hereto acknowledges and represents that
no promise, representation or inducement not herein expressed has
been made in connection with this Agreement.
4.9.. Each Party hereto certifies that he, she or it has
read all of th~s Agreement and fully understands all of the same.
4.10. This Agreement shall be construed without regard to
who drafted same and shall be construed as though all Parties
hereto participated equally in the drafting of this Agreement.
4.11. This Agreement consists of () pages,
including Exhibits "A", "B", and "C" and may be executed in
counterparts, each of which shall be deemed an original, and which
together shall constitute one and the same instrument.
4.12. This Agreement contains the entire agreement
between the Parties hereto and the terms of this Agreement are
contractual and not a mere recital.
4 .13. Notwithstanding the provisions of Section 5.1,
below, in the event any party breaches a material provision of this
Agreement, it may be specifically enforced or rescinded, at the
election of the non-breaching party, in addition to other equitable
and legal remedies.
4.14. In the event that any Party hereto shall institute
any action or proceeding to enforce or interpret any of the rights
granted or released hereunder, the prevailing Party in such action
or proceeding sha~l be entitled to recover all of his, hers, its or
their costs and expenses incurred in the action or proceeding,
including, but not limited to, reasonable attorneys' fees and court
costs.
4.15. The effective date of the Agreement shall be
deemed to be August __, 1994.
5. JUDICIAL PROCEEDINGS
5.1. The Actions are stayed as of August __, 1994. The
Parties agree that the trial date and law and motion dates, if any,
shall be vacated, subject to being reset upon noticed motion
brought by any party, accompanied by appropriate declaration (s)
reciting failure of a condition of the Agreement. The Parties
hereby further agree that the time within which an action must be
brought to trial, pursuant to Code of civil Procedure
Section 583.310 (five year limitation), shall be hereby tolled by
the express agreement of the Parties, pursuant to Code of Civil
. Procedure Section 583.330, and that the present date to bring the
matter to trial within the five (5) year period is extended by all
Parties for the period of time that the settlement terms, pursuant
to this Agreement, are pending but not "consummated" (i.e., all
- 7 -
conditions satisfied and the sums paid as agreed}. All applicable
limitations regarding discovery are tolled, pending further order
of the Court.
DATED: August
, 1994
CITY OF SAN BERNARDINO
By:
DATED: August
, 1994
James C. Bice
DATED: August
, 1994
Thomas W. Coenen
DATED: August
, 1994
Betsy A. Coenen
DATED: August
, 1994
ONE FIFTY LIMITED PARTNERSHIP
By:
DATED: August
, 1994
CALIFORNIA PROPERTIES FUND
By:
DATED: August 1994 BRIMAR INDUSTRIES, INC.
By:
DATED: August 1994 SECURITY TRUST COMPANY
By:
DATED: August , 1994 SAN BERNARDINO Sb FIVE LIMITED
By:
DATED: August 1994
Julian A. Pearson
- 8 -
DATED: August , 1994 NATIONAL BANK OF LONG BEACH
By:
DATED: August , 1994 ORANGE COAST TITLE COMPANY
By:
DATED: August , 1994
Donald E. Davis
DATED: August , 1994
Ruth Newburg
DATED: August , 1994
Irving M. Feldkamp III
DATED: August , 1994
Ken A. Kazarian
DATED: August
, 1994
LAKEVIEW DEVELOPMENT COMPANY
By:
DATED: August
, 1994
ONE FORTY-SEVEN LIMITED PARTNERSHIP
By:
DATED: August
, 1994
AMERICAN INTERNATIONAL BANK
By:
- 9 -
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
SABO & GREEN, A Professional Corporation
By:
Timothy J. Saba
Attorneys for City of San Bernardino
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for James C. Bice
APPROVED AS TO FORM AND CONTENT:
DATED: August __, 1994
By:
Attorneys for Thomas W. Coenen
and Betsy A. Coenen
APPROVED AS TO FORM AND CONTENT:
DATED: August __, 1994
By:
Attorneys for California
Properties Fund
APPROVED AS TO FORM AND CONTENT:
DATED: August __, 1994
By:
Attorneys for Brimar Industries,
Inc.
- 10 -
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for Security Trust
Company
APPROVED AS TO FORM AND ~ONTENT:
DATED: August __, 1994
By:
Attorneys for San Bernardino
Sb Five Limited
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for Julian A. Pearson
APPROVED AS TO FORM AND CONTENT:
DATED: August __, 1994
By:
Attorneys for National Bank of
Long Beach
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for Orange Coast Title
Company
.~~
- 11 -
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for Donald E. Davis
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for Ruth Newburg
APPROVED AS TO FORM AND CONTENT:
DATED: August ".994
By:
Attorneys for Irving M. Feldkamp III
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for Ken A. Kazarian
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for Lakeview Development
Company
APPROVED AS TO FORM AND CONTENT:
DATED: August ,1994
By:
Attorneys for One Forty-Seven
Limited Partnership
- 12 -
APPROVED AS TO FORM AND CONTENT:
DATED: August __, 1994
-
By:
Attorneys for American International
Bank
SBEO/0121/DOC/lS
7/26/94 12:25
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Item:
Action to
be Taken:
MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA
AGENDA
August 1, 1994
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE FILING OF
A JUDICIAL FORECLOSURE ACTION AGAINST CALIFORNIA
PROPERTIES FUND AND RATIFYING JUDICIAL
FORECLOSURE ACTIONS BEARING CASE NOS. SCVO?593,
SCV09594, SBCI09793 AND SCV09790
Adopt Resolution.
Certified copy of Resolution to be returned to Sabo & Green, A
Professional Corporation.
SBEO/0121/DOC!18
7/26/94 3:00
/h:Y/!3
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO AUTHORIZING
THE FILING OF A JUDICIAL FORECLOSURE ACTION
AGAINST CALIFORNIA PROPERTIES FUND AND
RATIFYING JUDICIAL FORECLOSURE ACTIONS
BEARING CASE NOS. SCV09593, SCV09594,
SBCI09793 AND SCV09790
( "City")
WHEREAS, OIl June 18, 1990, the City of San Bernardino
created Community Facilities District No. 995
9 ("District") pursuant to the Mello-Roos Community Facilities Act
10 of 1982, codified at General Code Section 53311 et. sea. ("Act");
11 and
12
13
WHEREAS, pursuant to the Act, in December, 1990, the
14 City issued $7,325,000 Special Tax Limited Obligation Bonds,
15 which are secured by the special taxes authorized to be levied
16 against all parcels within the District; and
17
18
WHEREAS, certain sums of special taxes duly levied
19 pursuant to the Act against certain undeveloped parcels within
20 the District subsequently became delinquent and remain unpaid;
21 and
22
23 WHEREAS, on January 14, 1994 and January 24, 1994, four
24 (4) actions for judicial foreclosure of special tax liens were
25 commenced in the San Bernardino Superior Court on behalf of the
26 City against San Bernardino S.B. Five, Limited Partnership,
27
Seven
Limited
Lakeview
Development
Company,
One
Forty
28 Partnership, American National (sic) Bank, Donald E. Davis, Ruth
-1-
1 Newbury, Irving M. Feldkamp III, Orange Coast Title Company, Ken
2 A. Kazarian, James C. Bice, Brimar Industries, Inc., and Does 1-
3 100, bearing Case Nos. SCV09593, SCV09594, SBCI09793 and
4 SCV09790; and
5
6 WHEREAS, pursuant to Section 53356.1 of the Act, the
7 City is authorized to file an action for judicial foreclosure of
8 the delinquent special tax liens associated with the undeveloped
9 parcels owned by California ?roperties Fund within the District.
10
11 NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
12 CITY OF SAN BEfu"^,ARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
13 DETERMINE AND ORDER AS FOLLOWS:
14
15 Section 1. The City hereby ratifies the judicial
16 foreclosure actions filed on January 14, 1994 and January 24,
17 1994 bearing San Bernardino Superior Court Case Nos. SCV09593,
18 SCV09594, SBCI09793 and SCV09790.
19
20 Section 2. The City hereby authorizes the filing of
21 Substitutions of Attorney in San Bernardino Superior Court Case
22 Nos. SCV09593, SCV09594, SBCI09793 and SCV09790, substituting
23 Sabo & Green, A Professional Corporation as counsel of record for
24 the City in place and instead of the Law Offices of Robert A.
25 Owen.
26 Section 3. The City hereby authorizes the City
27 Attorney's office and/or Sabo & Green, A Professional Corporation
28 to file an action for judicial foreclosure of the delinquent
-2-
1 .special tax liens associated with the undeveloped parcels owned
2 by California Properties Fund within the District.
3 III
4 III
5 III
6 III
7 III
8 III
9 III
10 III
11 III
12 III
13 III
14 III
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16 III
17 III
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25 III
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO AUTHORIZING THE FILING OF A JUDICIAL FORECLOSURE
ACTION AGAINST CALIFORNIA PROPERTIES FUND AND RATIFYING JUDICIAL
FORECLOSURE ACTIONS BEAR!NG CASE NOS. SCV09593, SCV09594,
SBCI09793 AND SCV09790
Section 4.
This Resolution shall become effective
immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the City of
San Bernardino at a
meeting
thereof, held on the
day of
1994, by the following vote, to wit:
AYES:
Council Members
NAYS:
ABSENT:
City Clerk
The foregoing resolution is hereby approved this
day of
, 1994.
Mayor of the City of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
By:
-4-
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STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or proved to
me on the basis of satisfactory evidence) to be the person(s)
whose name (s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
.
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MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO
AGENDA
August 1, 1994
Item:
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE ISSUANCE
OF NOT TO EXCEED $3,500,000 COMMUNITY FACILITIES
DISTRICT NO. 995 OF THE CITY OF SAN BERNARDINO
(VERDEMONT AREA) SPECIAL TAX REFUNDING BONDS,
APPROVING THE FORM OF LEGAL DOCUMENTS RELATED
THERETO AND AUTHORIZING AND DIRECTING
PREPARATION, EXECUTION AND DELIVERY OF THE FINAL
FORMS THEREOF
Action to
be Taken:
Adopt Resolution.
Certified copy of Resolution to be returned to Sabo & Green, A
Professional Corporation.
SBEOf0125/DOC/16
7/27/94 410 law
/ C,. 5/-C
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE ISSUANCE
OF NOT TO EXCEED $3,500,000 COMMUNITY FACILITIES
DISTRICT NO. 995 OF THE CITY OF SAN BERNARDINO
(VERDEMONT AREA) SPECIAL TAX REFUNDING BONDS,
APPROVING THE FORM OF LEGAL DOCUMENTS RELATED
THERETO AND AUTHORIZING AND DIRECTING
PREPARATION, EXECUTION AND DELIVERY OF THE FINAL
FORMS THEREOF
WHEREAS, the City of San Bernardino (the "City") is a
charter city and municipal corporation organized and existing
under and pursuant to California law; and
WHEREAS, the City issued its $7,440,000 Community
Facilities District No. 995 (Verdemont Area) Special Tax Bonds
(the "Prior Bonds") in order to finance the acquisition and
construction of certain facilities within its Community
Facilities District No. 995; and
WHEREAS, the Prior Bonds are dated November 15, 1990,
and the last scheduled maturity of the Prior Bonds is
September 1, 2015; and
WHEREAS, the City has already provided for the
redemption of a portion of the Prior Bonds; and
WHEREAS, the City desires to refund the remaining Prior
Bonds and therefore proposes at this time to issue bonds in the
approximate amount of $3,300,000, and in any event not to exceed
$3,500,000, entitled Community Facilities District No. 995 of
- 1 -
1 the City of San Bernardino (Verdemont Area) Special Tax Refunding
2 Bonds (the "Bonds") pursuant to the Mello-Roos Act, codified at
3 Section 53311, et sea., of the California Government Code (the
4 "Act"), and pursuant to that certain Indenture of Trust dated as
5 of August 1, 1994 (the "Indenture"), by and between the City and
6 Bank of America National Trust and Savings Association, as
7 trustee (the "Trustee"), a form of which is presently on file
8 with the City Clerk; and
9
10 WHEREAS, the proceeds of the Bonds will be used to
11 (i) pay interest and principal coming due and redeem a portion of
12 the Prior Bonds on September 1, 1994; (ii) defease a portion of
13 the Prior Bonds to callan September 1, 1998; and (iii) provide
14 for a reserve fund and costs of issuance of the Bonds; and
15
16 WHEREAS, the Prior Bonds shall be paid at the principal
17 trust office of First Interstate Bank, Ltd., in Los Angeles,
18 California; and
19
20 WHEREAS, Miller & Schroeder Financial, Inc., as
21 prospective underwriter of the Bonds (the "Underwriter") has
22 informed the City that it intends to submit an offer to purchase
23 the Bonds and shall cause to be prepared a Preliminary Official
24 Statement and an Official Statement relating to such Bonds, as
25 may be necessary in the sale and marketing of the Bonds, a form
26 of which is presently on file with the City Clerk; and
27 I I I
28 III
- 2 -
1 WHEREAS, the City has duly considered such transactions
2 and desires at this time to approve said transactions in the
3 public interests of the City.
4
5 NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
6 CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
7 DETERMINE AND ORDER AS FOLLOWS:
8
9 Section 1. Recitals. The above mentioned recitals
10 are incorporated herein as if fully set forth.
11
12 Section 2. Findinas and Determinations. Pursuant
13 to the Act, the Mayor and Common Council hereby find and
14 determine that the issuance of the Bonds will result in
15 (i) savings in effective interest rates, bond preparation, bond
16 underwriting and/or bond issuance costs, (ii) significant public
17 benefits to the City, and (iii) pursuant to Section 53363 of the
18 Act, it is prudent in the management of City affairs to issue
19 refunding bonds at this time.
20
21 Section 3. Issuance of the Bonds: Aooroval of Form of
22 Indenture: Authorization and Direction to Preoare Final Forms
23 Thereof. The Mayor and Common Council hereby authorize the
24 issuance of special tax refunding bonds under and pursuant to the
25 Act and the Indenture in the principal amount not to exceed
26 $3,500,000 and the preparation of certain financing documents
27 related thereto which are necessary to carry out the issuance of
28 the Bonds. The Mayor and Common Council hereby approve the form
- 3 -
1 of Indenture as presently on file with the City Clerk with such
2 changes thereto as may be approved by the Mayor and as necessary
3 to incorporate the principal amount, interest rate, maturity and
4 redemption dates and such other terms and conditions with respect
5 to the Bonds when such terms and conditions have been
6 ascertained. The Mayor and Common Council hereby further
7 authorize and direct that the form of Indenture presently on file
8 with the City Clerk be converted into the final form of
9 Indenture, authorizing the issuance of the Bonds together with
10 such changes or modifications as deemed necessary or desirable by
11 the Mayor upon the recommendation of Sabo & Green, a Professional
12 Corporation ("Bond Counsel"). The Mayor, City Administrator or
13 such other authorized officer of the City is hereby authorized
14 and directed to execute and deliver, and the City Clerk is hereby
15 authorized and directed to attest to, the final form of Indenture
16 when the same has been prepared for and in the name of the City,
17 and such execution and delivery shall be deemed to be conclusive
18 evidence of the approval thereof. The Mayor and Common Council
19 hereby authorize the delivery and performance of the Indenture.
20
21 Section 4. Approval of Escrow Aqreement . The Mayor
22 and Common Council hereby approve the Escrow Agreement and
23 further authorize and direct that the form of Escrow Agreement
24 presently on file with the City Clerk be converted into the final
25 form of Escrow Agreement, together with such changes or
26 modifications as deemed necessary or desirable by the Mayor upon
27 the recommendation of Sabo & Green, a Professional Corporation
28 ("Bond Counsel"). The Mayor, City Administrator or such other
- 4 -
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authorized officer of the City is hereby authorized and directed
to execute and deliver, and the City Clerk is hereby authorized
and directed to attest to, the final form of Escrow Agreement
when the same has been prepared for and in the name of the City,
and such execution and delivery shall be deemed to be conclusive
evidence of the approval thereof. The Mayor and Common Council
hereby authorize the delivery and performance of the Escrow
Agreement.
Section 5. Terms of Bonds. The Mayor and Common
Council hereby determine that the Bonds shall be dated on or
about August 24, 1994, shall be in denominations of $5,000 and
shall have an interest rate not to exceed 8.5%. The Bonds shall
mature on or before September 1, 2015, which date is the final
maturity date of the Prior Bonds. Interest on the Bonds shall be
payable on March 1 and September 1 of each year until paid in
full. Principal shall be payable as provided in the Indenture on
September 1 of each year beginning September 1, 1995, until paid
in full. The Bonds shall be payable at the principal office of
Bank of America National Trust and Savings Association, as
Trustee for the Bonds. The costs of issuance of the Bonds shall
not exceed $100,000.
Section 6. Sale of the Bonds. The Mayor and Common
Council hereby approve the sale of the Bonds by negotiated
purchase with the Underwriter, pursuant to Government Code
Section 53360.4 and that certain Bond Purchase Agreement to be
prepared and as shall be provided by the Underwriter prior to the
- 5 -
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time of purchase of the Bonds (the "Purchase Agreement"). The
Mayor and Common Council hereby further authorize a form of
Purchase Agreement as presently on file with the City Clerk,
together with any changes therein or additions thereto approved
by the Mayor or any authorized representative of the Mayor, and
as necessary to incorporate the principal amount, the interest
rate, the purchase price and such other terms and conditions when
such terms and conditions have been ascertained. The Mayor and
Common Council hereby authorize and direct the Underwriter to
cause the preparation of the final Purchase Agreement of which
such terms are a part, and the Mayor, City Administrator or such
other authorized officer of the City is hereby authorized and
directed to evidence the City's acceptance of the offer made by
the Purchase Agreement by executing and delivering the Purchase
Agreement in said form as on file with such changes therein as
the officer or the officers executing the same may approve, such
approval to be conclusively evidenced by the execution and
delivery thereof.
Section 7. Official Statement. The Mayor and
Common Council hereby approve the form of the Preliminary
Official Statement presently on file with the City Clerk. The
Mayor and Common Council further authorize the preparation and
distribution of a Preliminary Official Statement as shall be
necessary or required in connection with the sale of the Bonds to
prospective purchasers thereof. The Mayor and Common Council
hereby authorize and direct that the Preliminary Official
Statement be converted to a final Official Statement together
- 6 -
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with such changes or modifications as deemed desirable or
necessary in the sale and marketing of the Bonds and as approved
by the Mayor, upon the recommendation of Bond Counsel and the
Underwriter. The Mayor and Common Council hereby authorize
distribution of the Preliminary Official Statement and the final
Official Statement by the Underwriter when the same have been
prepared. The Mayor is hereby authorized and directed to execute
the final form of said Official Statement in the name and on
behalf of the Authority and to deliver the same to the
Underwriter upon execution thereof, together with the changes or
modifications approved by the Mayor. Execution of said final
Official Statement shall be conclusive evidence of approval
thereof, including any such changes and additions.
Section 8. Official Action. The Mayor, the City
Administrator, City Clerk, Bond Counsel and any and all other
officers of the City are hereby authorized and directed, for and
in the name and on behalf of the City, to do any and all things
and take any and all actions, including execution and delivery of
any and all assignments, certificates, requisitions, agreements,
notices, consents, instruments of conveyance, warrants and other
documents, which they, or any of them, may deem necessary or
advisable in order to consummate the lawful issuance and sale of
the Bonds as described herein, including, but not limited to, the
distribution of the Preliminary Official Statement to any
prospective purchasers when the same shall become available for
distribution. Whenever in this Resolution any officer of the
City is authorized to execute or countersign any document or take
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any action, such execution, countersigning or action may be taken
on behalf of such officer by any person designated by such
officer to act on his or her behalf in the case such officer
shall be absent or unavailable. The Mayor and Common Council
hereby appoints the Mayor as agent of the City for purposes of
executing any and all documents and instruments which any officer
of the City is authorized to execute hereunder.
The Mayor and Common Council hereby authorize the
payment of all costs of issuance in connection with the issuance
of the Bonds including all legal fees of Bond Counsel, special
tax counsel, bond printing and Trustee fees. Invoices for all
such items shall be submitted to and approved by the City
Administrator.
III
III
III
III
III
III
III
III
III
III
III
III
III
III
- 8 -
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $3,500,000
COMMUNITY FACILITIES DISTRICT NO. 995 OF THE CITY OF SAN
BERNARDINO (VERDEMONT AREA) SPECIAL TAX REFUNDING BONDS,
APPROVING THE FORM OF LEGAL DOCUMENTS RELATED THERETO AND
AUTHORIZING AND DIRECTING PREPARATION, EXECUTION AND DELIVERY OF
THE FINAL FORMS THEREOF
Section 9.
Effective Date.
This
Resolution
shall take effect from and after its passage and adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the City of
San Bernardino at a
meeting
thereof, held on the
day of
1994, by the following vote, to wit:
AYES:
Council Members
NAYS:
ABSENT:
City Clerk
The foregoing resolution is hereby approved this
day of
, 1994.
Mayor of the City of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
By:
SBEO\0125\DOC\16
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STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or proved to
me on the basis of satisfactory evidence) to be the person(s)
whose name (s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity (ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
.
1
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7 Item:
8
9
10
11 Action to
be Taken:
12
13
MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO
AGENDA
August 1, 1994
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO ESTABLISHING ANNUAl,
SPECIAL TAX FOR FISCAL YEAR 1994/95 FOR COMMUNITY
FACILITIES DISTRICT NO. 995
Adopt Resolution.
Certified copy of Resolution to be returned to Sabo & Green, A
14 Professional Corporation.
15
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25
SBEO/0125/DOC/13
26 7/27/94 845 law
27
28
/ I:J 5~/~D
1
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO ESTABLISHING ANNUAL
SPECIAL TAX FOR FISCAL YEAR 1994/95 FOR COMMUNITY
FACILITIES DISTRICT NO. 995
WHEREAS, the City of San Bernardino (the "City") is a
6 charter city and municipal corporation organized and existing
7 under and pursuant to the laws of the State of California; and
8
9 WHEREAS, the Mayor and Common Council of the City (the
10 "Mayor and Common Council") has initiated proceedings, held a
11 public hearing, conducted an election and received a favorable
12 vote from the qualified electors relating to the levy _of a
13 special tax in Community Facilities District No. 995 (the
14 "District") all as authorized pursuant to the terms and
15 provisions of the "Mello-Roos Community Facilities Act of 1982,"
16 being Chapter 2.5, Part 1, Division 2, Title 5 of the Government
17 Code of the State of California; and
18
19 WHEREAS, the City proposes to issue refunding bonds
20 (the "Bonds") in order to refund certain bonds issued in 1990 to
21 finance the payment of fees and otherwise provide for the
22 construction of certain facilities within the District; and
23
24 WHEREAS, the Mayor and Common Council, by Ordinance as
25 authorized by Section 53340 of the Government Code of the State
26 of California, has authorized the levy of a special tax to pay
27 for costs and expenses related to the District and the Mayor and
28 Common Council desire to establish the specific rate of the
- 1 -
1 special tax to be collected for the next fiscal year which taxes
2 shall be pledged as security for the Bonds; and
3
4 WHEREAS, in the event the Mayor and Common Council is
5 unable to issue the refunding bonds at this time, it will be
6 required to levy a backup special tax to pay costs and expenses
7 related to the District.
8
9 NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
10 CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
11 DETERMINE AND ORDER AS FOLLOWS:
12
13 Section 1. Recitals. The above recitals are all
14 true and correct and incorporated herein by this reference.
15
16 Section 2. Special Tax Rates. The Mayor and Common
17 Council finds and determines that if the Bonds are issued, the
18 specific rate and amount of the special tax to be collected to
19 pay for the costs and expenses for fiscal year 1994/95 for the
20 District is hereby determined and established as set forth in
21 Exhibit "A" attached hereto. The Mayor and Common Council
22 further finds and determines that the rate as set forth in
23 Exhibit A does not exceed the amount as previously authorized by
24 Ordinance of this legislative body, and is not in excess of that
25 as previously app~oved by the qualified electors of the District.
26
27 Section 3. Special Backup Tax. In the event the
28 Bonds are not issued on or before September 1, 1994, the Mayor
- 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
and Common Council finds and determines that the specific rate
and amount of the special backup tax to be collected to pay for
the costs and expenses for fiscal year 1994/95 for the District
is hereby determined and established as set forth in Exhibit "B"
attached hereto. The Mayor and Common Council further finds and
determines that the rate as set forth in Exhibit B does not
exceed the amount as previously authorized by Ordinance of this
legislative body, and is not in excess of that as previously
approved by the qualified electors of the District.
-
Section 4. Use of Proceeds. The proceeds of the
special tax and\or backup special tax shall be used to pay, in
whole or in part, the costs of the following:
a. Payment of principal of and interest on any
outstanding authorized bonded indebtedness;
b. Necessary replenishment of bond reserve funds
or other reserve funds;
c. Payment of costs and expenses of authorized
public facilities;
d. Repayment of advances and loans, if
appropriate;
e. Payment of District administrative costs.
~
The proceeds of the special taxes and\or backup special
taxes shall be used as set forth above, and shall not be used for
any other purpose.
III
- 3 -
1 Section 5. Collection. The special tax and\or
2 backup special tax shall be collected in the same manner as
3 ordinary ad valorem property taxes are collected, and shall be
4 subject to the same penalties and same procedure and sale in
5 cases of any delinquency for ad valorem taxes. The Tax Collector
6 is hereby authorized to deduct reasonable administrative costs
7 incurred in collecting any said special tax and\or backup special
8 tax. All monies above collected shall be paid into the Community
9 Facilities District funds, including any bond fund and reserve
10 fund.
11
12 Section 6. Directions to Countv Auditor. The City
13 hereby approves and authorizes the Auditor of the County of San
14 Bernardino (the "County Auditor") to enter in the next County
15 assessment roll on which taxes will become due, opposite each lot
16 or parcel of land effected in a space marked "public
17 improvements, special tax" or by any other suitable designation,
18 the installment of the special tax and\or backup special tax, and
19 for the exact rate and amount of said tax, as provided in
20 Exhibit "A" or "B". The City hereby further instructs the County
21 Auditor to, at the close of the tax collection period, promptly
22 render to the City a detailed report showing the amount and/or
23 amounts of such special tax and\or backup special tax
24 installments, interest, penalties and percentages so collected
25 and from what property collected, and also provide a statement of
26 any percentages retained for the expense of making any such
27 collection.
28 III
- 4 -
1
2
3
..
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO ESTABLISHING ANNUAL SPECIAL TAX FOR FISCAL YEAR
1994/95 FOR COMMUNITY FACILITIES DISTRICT NO. 995
Section 7.
Effective Date.
This
Resolution
shall take effect from and after its passage and adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Com~on Council of the City of
San Bernardino at a
meeting thereof, held on
day of
, 1994, by the
the
following vote, to wit:
Council Members
AYES:
NAYS:
ABSENT:
City Clerk
The foregoing resolution is hereby approved this
day of
, 1994.
Mayor of the City of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
By:
23
24
25
26
27
28
SBEO\0125\DOC\13
- 5 -
1
2
3
4
5
6
7
8
STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or proved to
me on the basis of satisfactory evidence) to be the person(s)
whose name (s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
9
Signature (Seal)
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Sp--I.., TalC Area
Munl Plnandel $orvio", ~.
",'........ .._~~.. - ....
. Ex IB Ii A !
CIty cI 8M Bernardino Cornmu ~ FecIIIIu
Assessor Parcel Nu
B
8
8
B
IS
B
B
8
B
B
B
8
B
8
8
8
B
B
B
B
B
B
B
B
lJ
8
B
8
8
B
B
Ii
B
8
8
B
8
B
B
B
B
B
B
B
B
8
B
28148101
28148102
28148103
2814910<4
28148105
2111"106
2111"107
281~1oe
261411108
26148110
26148111
24148112
28148113
261,4911.
28149115
26149118
28149117
28149118
261411119
281411120
26148121
26149122
261411123
26149124
26148125
26141me
28148127
28149128
2614111211
28149130
28148131
26149132
28148133
261411134
28148135
281411138
%51411137
28149138
2614g13a
261,411140
281411141
28148142
28148143
0111148144
261481,45
28160101
211160102
-r
51i, 32.08
It 55.81
5~. 55.01
St. 32.08
5'. U1
5t. 5U1
$1. 32.08
$'. 5S.111
51. .91
5,. 6U1
$1. 55.81
$1, 32.08
$1. 55.91
51. 5U1
$1. 55.91
51. 55.111
$1, 5.11t
51. 55.81
$1. 55.111
$1. 5.81
$1 08
51. 55.91
$1. 515,91
5'. 55.91
$1, .91
51 55.91
S1, 32.08
S1. 55.81
$1. 55.11
51 155.11
51 5U1
5. 32.08
51 5U1
5. 5U1
Sf S5.91
$. 32.08
$~ 355.91
51 355.11
$~ 355.11
5~ 355.81
5~ 355.111
S1I 3S5.ll1
$1 365,81
$1 366.01
$'\ 355.81
$1232.08
$1 041.88
I
1
I
I
\
\
.
712610A
. ~)(JMrr
C~ of San ~rdino Community Facllltle 0.1185
I
I
Sp-tal T..,.,.. ~sor Panl8l Numtler I Year 99<W6 Special Tax
8
II
B
B
B
B
B
B
II
8
B
8
B
a
B
I
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
8
II
B
8
a
B
8
8
a'
Munl Financial s.Mc:eI, Inc.
28150103
26150104
28150105
26150106
26150107
26160101
26150109
26150110
28150111
26150112
28150113
26150114
26160115
2616011.
28160117
215160118
261501111
28150120
28150121
26150122
26160123
26150124
26150125
28150126
26160127
26150128
28160129
28160130
28Hi0131
28150132
I 28150133
28160134
26150135
26160138
28150137
28150138
261501311
. 28150140
i 26160141
! 215150142
i 28160143
I
i 28150144
! 26150145
: 26150148
: 26150147
· 26150148
! :l61501.cD
I
,
!
PageA-2
$ .047.18
, ,232.08
S ,047.8'
S .047.88
5 ,047.89
, ,232.08
5 .047.81
5 ,047.811
, ,047.88
S 047.8.
$1 32.08
$1 047.88
51 047.88
$1 047.18
$1 3GU1
51 232.01
'1 355.81
51 355.111
'1 232.01
51355.81
51 08
51 356.111
.1 55.11
51 55.11
.1 .08
$1 55.111
$1 66.81
51, 55.111
$1, 65.111
51, 55.81
51, .81
51, 32.08
$1, 5,81
11, 55.01
'1, 5.11
11, 55.11
51, 5.81
$1, 5.11
11, 55.81
11, 55.111
51, 5.11
51, 55.111
$1, 5.81
51, 32.08
51. 55.11
$1 32.08
'1. 5:i.'1
I
,
I
712G1f1i,
f;I
I f)(HI&,r hltt"'J I
CIty t1f s.n llemlrdino Communi\, FeclllU.. 01 Irlct No. 95
Spacial Tax AlU Asse. r Parcel Number FIIcal aar 199 Kl5 Special TIIX
B 128150150
B 28150151
8 26150152
B 261501~
B ~1501U
8 1261501~
B 28110150
B 1'28150167
B 2615015&
8 126150159
B 26150160
8 i 26150161
B i2111501~
B i 21115010)
B 128150104
B 2111501~
B 26150168
B 1251501117
B 26150161
B I 26150189
B I 28160170
D ' 2111~1~
o 25151102
o 26151103
o 28151104
o 26151105
o 26151101
o 28151107
o 211151108
o 28151109
o 28151110
o 2&151111
o 28151112
o 2815111)
o 28151114
D 28151115
o 28161118
o 28151117
o 28151118
o 211151118
o 26151120
o 28151121
o 26151122
o 26151123
o 28151124
o 26161125
o 211151128
Munl 'lnanc:!al Serv~. II\C.
P1Iga A. 3
7/28/94
. .. ~ .~""1 .
r
(t6.. .)
City of San Benw'dino Col'lll'Nlnlty FIClll1leI 0 Iltk:t No.
Spec181 Tall ArM
o
D
D
D
D
o
D
o
o
o
D
o
D
D
o
D
o
o
D
D
o
o
Totals:
Mu/'ll Flnam:lal aeMen. Inc.
-' . ~ ' ,
Alienor PlIlC8l NlIIl1I*'
26151127
25151128
281611211
20161130
28151131
28151132
28151133
26151134
28161136
28151138
28151137
26151138
261511311
26151140
28151141
261511<42
28151143
26151144
26151145
28151148
28151147
26161148
163
PagaA-4
IY88rl:~ ::5SPed&T~
i $1 63.2l1
$1, 90.25
$1. 7UO
$1. 3.20
'1. .2g
$1. 90.25
$1. 63.211
$1, 80.25
$1, lS3.211
'1, 63.29
11.
S 1, 110.25
$1 53.2.
.1 110.25
'1 73.ll0
$1 .211
$1 0.25
$1 073.80
$1 283.211
$1 073.110
$1 2153.211
52 ,840.88
712e184
EXHIBIT "B"
NoU: If tlM SpeCI.1 T.x Bond. ... not ,,'unded. It will be n.u..aIY to levy the Backup 8peclal To Rete
lnat..d of the A..lgned SpeCial Tax Rate on all of th, perc,l, with homes within CFD 991. Th, MaxImum
s.cJcup 8pllClal :rax RetM .re .. folloW':
Special Tax Area
.........or P,rcel Number
Fiscal Year 1994J96 Backup Speclal Tax
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
26149101
26149102
26149103
26149104
26149105
26149106
26149107
26149108
26149109
26149110
26149111
26149112
26149113
26149114
26149115
26149116
26149117
26149118
26149119
26149120
26149121
28149122
28149123
26149124
26149125
26149128
28149127
28149128
26149129
26149130
28149131
28149132
26149133
26149134
26149135
2614913&
26149137
26149138
26149139
26149140
26149141
26149142
26149143
$1,779.43
$1,741.97
$1,709.71
$1,74U7
51,741.97
51,741.97
$1,741.97
$1,741.97
$2,098.82
$2,177.46
51,687.14
$1,741.97
$1,741.97
$1,741.97
$1,741.97
$1,903.26
$1,903.26
$1.741.97
$1,741.97
$1,741.97
$1,741.97
51,903.28
51,903.26
$1,741.97
51,741.97
$1,741.97
$1,741.97
$1,903.28
$1,903.26
$1.741.97
51,741.97
51,741.97
$1,741.97
51,903.26
$1,741.97
$1,741.97
$1,903.26
$1,774.23
51,774.23
$1,774.23
$1,774,23
51,774.23
51,774.23
i
I
I
I
I
Munl Financial Sel'vlcea, Inc.
Page 1
7127/94
I
,
Note: If the SpecIal Tax Bond. .r. 1I0t refunded, It will be n......ry to levy the Backup Special Tn Rate
lnotead of the Aulgnod Special Tax Rate on all of thl parcel. with home. withIn CFD illS. The Maximum
Bockup Spec la' Tax Rat.. Ire a. follow.:
Special Tax Area
Assessor Parcel Number
Filcel Year 1994/95 Backup Spedal Tax
B
B
B
B
8
B
B
B
8
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
26149144
28149145
26150101
28150102
26160103
28150104
26150105
28150108
26150107
28150108
26150109
28150110
26150111
26150112
28150113
26150114
28150115
28150116
28150117
28150118
26150119
26150120
28150121
26150122
26160123
28150124
28150125
26150126
26160127
26150128
28150129
26150130
26150131
26150132
26150133
26150134
26150135
26150136
26150137
26150138
26150139
26150140
28150141
$1,774.23
$1,774.23
$2,032.30
$1,898.81
$2,009.72
$1,829.07
$1,829.07
$2,009.72
$1,938.49
$1,778.81
$1,764.87
$1,785,20
$2,169.40
$2,587.15
$1,985.62
$1,760.68
$1,741.117
$1,741.97
$1,741.97
$1,741.97
$1,741.117
$1,741,87
$1,741.97
$1,741.97
$1,741.97
$1,741.97
$1,894.23
$1,733.58
$1,751.00
$1,731.97
$1,774.23
$2,019.88
$2,049.58
$2,252.47
$2,271.98
$1,629.23
$1,741.97
$1,741.97
$1,930.62
$1,751.65
$1,761.65
$1,751.65
$1,040.38
Munl Financial Servieet, Inc.
Page 2
7127~
,.~, . ....w :"..... '
........,.....w,'.
Note: If the Special Tax Bonda ar. nol r.funded, It will be n.c....ry to levy the dackup Spaclel T.x Rata
lnataed of the A..lgned Spacial Tax Rata on all of the parca18 with home. within CFD lIS. Th. Maximum
Backup Sp.CI.1 Tax Rat.. .ra .. follawa:
Special Tax Area
Assessor Parcel Number
8
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
B
o
o
o
o
o
o
o
o
o
o
o
o
o
o
26150142
26150143
26150144
26150145
26150146
26150147
26150148
261501411
26150150
26150161
26150152
26150153
26150154
26150155
26150156
26150157
26160158
26150159
26150160
28150161
26150162
26150163
26150164
26150165
26150166
26150167
26150168
26150169
26150170
26151101
26151102
26151103
26151104
26151105
26151106
26151107
26161108
261511011
26151110
26151111
26151112
26151113
261511 14
Munl Financial Service., Ine.
Page 3
Fiscal Year 1994/95 Backup Spedal Tax
$2,044.58
$2,041.82
$2,292.63
$2,018.11
$1,754.55
$1,811.97
$1,811.117
$2,024.23
$1.741.97
$1,741.97
$1,741.97
$1,774.23
$1,983.91
$1,916.81
$2,114.24
$2,214.56
$1,724.55
$1,743.42
$1,741.97
$1.807.46
$1,739.311
$1,742.13
$1,728.117
$1,849.88
$2,519.08
$2,044.72
$1,745.68
$1,741.97
$1,665.84
$2,137.97
$1,923.82
$1,923.82
$1,923.82
$1,923.82
$2,141.86
$2,302.02
$2,163.10
$2,246.30
$2,329.34
$2,851.78
$2,637.113
$2,614.21
$2,461.84
I
I
I
,
I
I
I
;
7/27/94
Note: If tile Spec:lal Tax Bond. .re not refunded, It will be nec:ee.ary to levy the Beckup 8pec:lal Tax Rate
Instead of the AIIlgned Spec:lal T.x Rata on all of the pln:oll with homea within CFD till. TIle Maximum
Backup Special Tax Rataa Ira aa follow.:
Special Tax Area
AlI.saar Parcel Number
Asc:al Year 1994195 Backup SpeclaJ Tax
Totals:
163
$2,000.30
$1,941.30
51,880.42
$1,994.53
$1,933.34
$1,952.811
$1,952.811
$1,1152.811
$1,952.69
$1,933.81
$2,137.97
$1,1l23.82
$1,923.82
$1,923.82
$1.923.82
$2.141,88
$2,302.02.
$2.183.10
$2,248.30
$2,329.34
$2,851.78
$2,637.93
$2.614.21
$2.481.84
$2,000,30
$1,941.30
$1,880.42
$1,994.53
$ 1,933.34
$1,952.69
51,952.89
$1,952.69
$1,952.811
51,933.81
$314,283.04
o
o
o
o
o
o
o
o
D
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
26151115
26151118
26151117
26151118
26151119
26151120
26151121
26151122
26151123
26151124
28151125
28151126
26151127
26151126
26151129
26151130
28151131
26151132
26151133
26151134
26151135
28151136
26151137
26151138
26151139
26151140
25151141
26151142
26151143
26151144
26151145
26151146
26151147
26151148
Munl Financial Servlc;el, Inc.
Plloe4
7/27194
. 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO
AGENDA
August 1, 1994
Item:
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE REDEMPTION
OF A PORTION OF CERTAIN BONDS ENTITLED COMMUNITY
FACILITIES DISTRICT NO. 995 OF THE CITY OF SAN
BERNARDINO (VERDEMONT AREA) SPECIAL TAX BONDS,
APPROVING THE FORM OF ESCROW AGREEMENT RELATED
THERETO AND AUTHORIZING AND DIRECTING
PREPARATION, EXECUTION AND DELIVERY OF THE FINAL
FORM THEREOF
Action to
be Taken:
Adopt Resolution.
Certified copy of Resolution to be returned to Sabo & Green, A
Professional Corporation.
SBEO/0125/00C/1S
7/27/94 425 law
S/F
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE REDEMPTION
OF A PORTION OF CERTAIN BONDS ENTITLED COMMUNITY
FACILITIES DISTRICT NO. 995 OF THE CITY OF SAN
BERNARDINO (VERDEMONT AREA) SPECIAL TAX BONDS,
APPROVING THE FORM OF ESCROW AGREEMENT RELATED
THERETO AND AUTHORIZING AND DIRECTING
PREPARATION, EXECUTION AND DELIVERY OF THE FINAL
FORM THEREOF
WHEREAS, the City of San Bernardino (the "City") is a
charter city and municipal corporation organized and existing
under and pursuant to California law; and
WHEREAS, the City issued its $7,440,000 Community
Facilities District No. 995 (Verdemont Area) Special Tax Bonds
(the "Bonds")
in order to finance the acquisition and
construction of certain facilities within its Community
Facilities District No. 995; and
WHEREAS, the Bonds are dated November 15, 1990, and the
last scheduled maturity of the Bonds is September 1, 2015; and
WHEREAS, there are certain amounts of unexpended Bond
proceeds currently held by First Interstate Bank, Ltd., as Fiscal
Agent for the Bonds (the "Fiscal Agent"); and
WHEREAS, Section 3.09 of the Fiscal Agent Agreement
dated November 1, 1990 (the "Fiscal Agent Agreement") authorizes
the use of Bond proceeds for the payment of Outstanding Bonds
once certain conditions are met; and
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1 WHEREAS, the project is ongoing, and due to the nature
2 of the project, there is no completion date; and
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4 WHEREAS, certain property owners are in default on the
5 payment of the special taxes securing the Bonds and if a portion
6 of the Bonds are defeased, there will be substantial benefits to
7 the Bondowners; and
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9 WHEREAS, the Bonds shall be paid at the principal trust
10 office of First Interstate Bank, Ltd., in Los Angeles,
11 California; and
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13 WHEREAS, the City has duly considered such transactions
14 and desires at this time to approve said transactions in the
15 public interests of the City.
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17 NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
18 CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
19 DETERMINE AND ORDER AS FOLLOWS:
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21 Section 1. Recitals. The above mentioned recitals
22 are incorporated herein as if fully set forth.
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24 Section 2. Findinqs and Determinations. Pursuant
25 to the Act, the Mayor and Common Council hereby find and
26 determine that the application of the unexpended proceeds of the
27 Bonds to the defeasance of a portion of the Bonds will result in
28 III
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1 significant public benefits to the City and the Bondowners, and
2 hereby authorize said application at this time.
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4 Section 3. Approval of Escrow Aareement. The Mayor
5 and Common Council hereby approve the Escrow Agreement and
6 further authorize and direct that the form of Escrow Agreement
7 presently on file with the City Clerk be converted into the final
8 form of Escrow Agreement, together with such changes or
9 modifications as deemed necessary or desirable by the Mayor upon
10 the recommendation of Sabo & Green, a Professional Corporation
11 ("Bond Counsel"). The Mayor, City Administrator or such other
12 authorized officer of the City is hereby authorized and directed
13 to execute and deliver, and the City Clerk is hereby authorized
14 and directed to attest to, the final form of Escrow Agreement
15 when the same has been prepared for and in the name of the City,
16 and such execution and delivery shall be deemed to be conclusive
17 evidence of the approval thereof. The Mayor and Common Council
18 hereby authorize the delivery and performance of the Escrow
19 Agreement.
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO AUTHORIZING THE REDEMPTION OF A PORTION OF CERTAIN
BONDS ENTITLED COMMUNITY FACILITIES DISTRICT NO. 995 OF THE CITY
OF SAN BERNARDINO (VERDEMONT AREA) SPECIAL TAX BONDS, APPROVING
THE FORM OF ESCROW AGREEMENT RELATED THERETO AND AUTHORIZING AND
DIRECTING PREPARATION, EXECUTION AND DELIVERY OF THE FINAL FORM
THEREOF
Section 4.
This
Resolution
Effective Date.
shall take effect from and after its passage and adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council
of
the
City of
San Bernardino at a
meeting
thereof, held on the
day of
1994, by the following vote, to wit:
AYES:
Council Members
NAYS:
ABSENT:
City Clerk
The foregoing resolution is hereby approved this
day of , 1994.
Mayor of the City of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
By:
SBEO\012S\DOC\15
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STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or proved to
me on the basis of satisfactory evidence) to be the person(s)
whose name (s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity (ies) , and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
F i:":
MICKEY & JANIE MARTINES
~~!if> HYATT ROAn
SAN BERNARDINO. CA 92407
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City of San Beroardiuo
JUU North "0" StrAAt
San Bernardino. CA 9241S
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RBI Mello-Roos District 995 (Verdemont Area)
VIA FAX: 909/384-'462
Dear San Dernardino City Council.
My husband and I are homeowners in the Verdemont District, and
have been asked by other homeowners within our same di.trict to
speak for them also. The purpose of this letter is just to ask all
of you that you would strongly consider the financial burden that
the levied Back-up Special Tax has caused for all of us.
Although we understand it is your business to see to the
t'el'l:lymHu t of the bond. pi ease understand that this is a very
persona I i saue to us s i,nce it has great ly affected our budgets and
lifestyles. (We, ourselves. in our household have six children, and
every dollar counts.)
To get to the point.... we support Jerry Devlin's July 27th
letter, and would be glad to see this accomplished, but we also
have concerns about this matter repeating itself if the developers
do no pay what they hove agreed to pay at the time they have agreed
to pay. We would ask that you do everything in your power to
toreclose on them if this is the ca~e.
Since we do not wish to have anymore surprises, please keep us
apprised. Thank you.
(-
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