HomeMy WebLinkAboutMC-467
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ORDINANCE NO. !1C..467
ORDINANCE OF THE CITY OF SAN BERNARDINO AMENDING CHAPTER 12.94.020
OF THE SAN BERNARDINO MUNICIPAL CODE BY PROVIDING THAT THE ADMINISTRATIVE
FEE OF ONE PERCENT OF THE AMOUNT OF THE TOTAL BOND ISSUE IN ANY DEVELOPER
REQUESTED ASSESSMENT BE PAID TO THE CITY'S ASSESSMENT DISTRICT RESERVE FUND.
THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO DO ORDAIN
AS FOLLo\.JS:
SECTION 1. Section 12.94.020 of the San Bernardino Municipal Code
is amended to read as follows:
12.94.020 Issuance of Bonds - Administrative Fee.
For any developer-requested improvement district in which the
improvements are to be financed by issuance of assessment district bonds,
bonds may be authorized and issued by authority of the Mayor and Common
Council under the provisions of the 1911 Act, the 1913 Act, the 1915 Act,
or any other state law or any ordinance or provision of the San Bernardino
Municipal Code, as the Mayor and Common Council may determine. For any
such issuance, an administrative fee of one percent of the amount of the
total bond issue shall be paid to the City's Assessment District Reserve
Fund to be used exclusively for the financin9 of assessment districts as
authorized by the Mayor and Common Council. Such fee shall be paid out of
the proceeds of the sale of the bonds, and shall be in addition to any
other applicable fees, charges or incidental expenses.
I HEREBY CERTIFY that the foregoing ordinance was duly adopted by
the Mayor and Common Council of the City of San Bernardino at a
regular
meeting thereof, held on the
day of cTulv
15
1985, by the following vote, to wit:
AYES: Council Members
Council T-'~embers Estrada, 1?eil'_ v,
Hernandez, Ouiel, Frazier, Strickler
NAYS:
None
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ABSENT: Coune ilqembel"'a r],s
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MC-467
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The foregoing ordinance is hereby approved this 16+11
July
, 1985.
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Ii; Ii 1...--<:, ,/!.--/
Mayor of the/City
Approved as to form:
- 2 -
day of
!L/UZ,~-/
of San Bernardino