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AGENDA ITEM INFORMAnON SUMMARY
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GENERALIHFORMAnON:
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CITY DEPARTMENTAL REYEW:
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INFORMATIONAL DATA FORWARDED TO CITY DEPARTMENTSIC..IUNCIL OFFICES:
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MayoI'I 0lIIce
CouncIl WaJd
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CouncIl WaJd
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COMMENTSICONCERNS: Include pe"",-III commellll end c:onceml of offlcel end pel'lOllS c1Nrlng the
. llUIlImery,lUCh u controvel'lllllluun, time clmatrelllll and funding compllclllonl.lndlcllte datil When
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Redevelopment Agency ~. City of San Bernardino
.~ Narth "D" SIIeel, Poanh FJoor . Son BemIrdiDa, Califamia 92418
(714) 384-5081 FAX (714) 888-9413
Pride .t
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AUGUSli 20. 1990
MT. VERNON CORRIDOR TAXING AGENCY AGREEMENTS
Synopsls of Prevlous Commlsslon/Councl1/Commlttee Actlon:
06/18/90 Mayor and Councl1 adopted Ordlnance MC-833 whlch approved and
adopted the Mt. Vernon Corrldor Redevelopment Project Area.
08/09/90 The Redevelopment Commlttee recommended approval of taxlng agency
agreements ln the Mt. Vernon Corrldor Project Area.
Recommended Motlon:
(COMMUNITY DEVELOPMENT COMMISSION)
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a) To approve and authorlze the Chalrman, on behalf of the Communlty
Development Commlsslon. to execute an agreement by and between the
Communlty Development Commlsslon of the Clty of San Bernardlno and the
San Bernardlno Valley Munlclpal Hater Dlstrlct (Mt. Vernon Corrldor
Redevelopment Project)
Respectfully Submltted,
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Robert J. Te pIe. Ac ng Executlve Dlrector
Supportlng data attached: YES
FUNDING REQUIREMENTS:
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Hard:
1. 3 & 6
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Project: MTV
Commlsslon Notes:
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Agenda of: AUQust 23. 1990
Item No.
c::> b) To approve and authorIze the ChaIrman, on behalf of the CommunIty
Development CommIssIon, to execute an agreement by and between the
CommunIty Development CommIssIon of the CIty of San BernardIno and the
San BernardIno UnIfIed School DIstrIct (Mt. Vernon CorrIdor Redevelopment
Project)
c) To approve and authorIze the ChaIrman, on behalf of the CommunIty
Development CommIssIon, to execute an agreement by and between the
CommunIty Development CommIssIon of the CIty of San Bernardino and the
Rlalto UnIfIed School DIstrIct (Mt. Vernon CorrIdor Redevelopment Project)
d) To approve and authorIze the ChaIrman, on behalf of the CommunIty
Development CommIssIon, to execute an agreement by and between the
CommunIty Development CommIssIon of the CIty of San BernardIno and the
Colton JoInt UnIfIed School DIstrIct (Mt. Vernon CorrIdor Redevelopment
Project)
e} To approve and authorIze the ChaIrman, on behalf of the CommunIty
Development CommIssIon, to execute an agreement by and between the
CommunIty Development CommIssIon of the CIty of San BernardIno and the
CommunIty College DIstrIct (Mt. Vernon CorrIdor Redevelopment Project)
f) To approve and authorIze the ChaIrman, on behalf of the CommunIty
Development CommIssIon, to execute an agreement by and between the
CommunIty Development CommIssIon of the CIty of San BernardIno and the
SuperIntendent of Schools (Mt. Vernon CorrIdor Redevelopment Project)
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Recommended MotIon (ContInued from Paqe 1):
(CommunIty Development CommIssIon)
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g) To approve and authorIze the ChaIrman, on behalf of the CommunIty
Development CommIssIon, to execute an agreement by and between the
CommunIty Development CommIssIon of the CIty of San BernardIno and the
West End Resource ConservatIon DIstrIct (Mt. Vernon CorrIdor
Redevelopment Project)
h) To approve and authorIze the ChaIrman, on behalf of the CommunIty
Development Commission, to execute an agreement by and between the
CommunIty Development CommIssion of the CIty of San Bernardino and the
East Valley Hater ConservatIon DIstrIct (Mt. Vernon CorrIdor
Redevelopment Project)
I) To approve and authorIze the ChaIrman, on behalf_of the Community
Development CommIssIon, to execute an agreement by and between the
CommunIty Development CommIssIon of the CIty of San BernardIno and the
County of San BernardIno (Mt. Vernon CorrIdor Redevelopment Project)
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S T A F F R E P 0 R T
This Is to request that the Commission approve and authorize the Chairman, on
behalf of the Commission, to execute agreements providing for payments to the
taxing agencies included in the Mt. Vernon project area. The Agreements are
with the following taxing agencies: the San Bernardino Valley Municipal Water
District; the San Bernardino Unified School District; the Rla1to Unified
School District; the Colton Unified School District; the Community College
District; the West End Resource Conservation District and the East Valley
Water Conservation District. Copies of the first four agencies are attached
and the balance are to be available at the meeting.
SAN BERNARDINO VALLEY MUNICIPAL HATER DISTRICT AGREEMENT
The agreement authorizes the Redevelopment Agency to retain all of the
Increment generated by the District's share of the annual general tax levy of
$1.00 per $100.00 of assessed value but general tax levy provides that the
District receive all tax override levies
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SAN BERNARDINO UNIFIED SCHOOL DISTRICT. RIALTO UNIFIED SCHOOL DISTRICT, COLTON
UNIFIED SCHOOL DISTRICT AGREEMENT. AND THE COMMUNITY COLLEGE DISTRICT
The agreements provide for each District to receive their "21." Inflator
revenue as provided for In State law plus any Increases In tax levies approved
after 1990. Then, the Redevelopment Agency Is to receive the first 201. of the
tax Increment for housing set-aside, and from the remaining 801. of the tax
Increment, each District will receive the following:
Years 8-15
Years 16-25
Years 26+
7.51. of the District's Portion
12.51. of the District's Portion
151. of the District's Portion
COUNTY SUPERINTENDENT OF SCHOOLS
The Agreement will provide for the Redevelopment Agency to receive the first
201. of the tax increment for housing set-aside, and from the remaining 801. of
the tax Increment, the Superintendent of Schools will receive 401.. The
district's portion Is less than 11. of the prOject area's Increment.
WEST END RESOURCE CONSERVATION DISTRICT
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The Agreement will provide for the Redevelopment Agency to receive the first
201. of the tax Increment for housing set-aside, and the District will receive
the remaining 801.. This is projected to be $3,946 over the life of the plan.
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SAN BERNARDINO VALLEY WATER CONSERVATION DISTRICT
The Agreement will provide for the District to receive lOOt of their share of
the tax increment which is projected to be to $173 over the life of the plan.
COUNTY OF SAN BERNARDINO
At the time this staff report was prepared. negotiations were being held with
the County of San Bernardino. He anticipate providing additional Information
at the meeting.
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RJT Imf: 1126C
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AGREEHEHT BY AIm BETWEEN '1'HE
SAN BERNARDINO VALLEY IlUHICIPAL WATER
DI$'.l'RICT AIm '1'HE COMMUNITY
DEVELOPMENT COMMISSION OF 'tHE
CITY OF SAN BERNARDINO
This Agreement is made and entered into this
day of, 1990 by and between the San Bernardino Valley
Municipal Water District (the -District-) and the COllllllUnity
Development Commission of the City of San Bernardino
(hereinafter referred to as the -Agency-).
BI~!!Al!!
WHEREAS, the Agency is a redevelopment agency eXisting
pursuant to the provisions of tb, COllllllUnity Redevelopment Law
(California Health and safety COde Section 33000 !1 sea.) which
has been authorized to transact business and exercise the
powers of a redevelopment agency pursuant to action of the
Common Council of the City of San Bernardino; and
WHEREAS, on November 7, 1989, the Planning Commission of
the City'of San Bernardino approved Resolution No. PC89-2,
establishing boundaries for the proposed Mt. Vernon Corridor
Redevelopment Project Area (the -Project Area-); and
WHEREAS, the Agency and the City'have notified the District
of their intention to prepare a redevelopment plan and continu~
with proceedings to establish a redevelopment project (the
.Project-) for the Project Area; and
WHEREAS, meetings have been held by representatives of the
District and representatives of the Agency to discuss the
potential fiscal impact of the Project on the District; and
WHEREAS, for the above reasons, to alleviate any financial
burden or detriment which the Project may cause the District,
and to amicably resolve any differences regarding the project,
the parties hereto enter into this Agreement;-
NOW, THEREFORE, in consideration of the foregoing and the
mutual covenants and conditions contained herein, the parties
hereto agree as follows:
Section I
The words and terms in this Agreement, unless a different
..aning clearly appears from the context, shall have the
..anings set forth as follows:
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(tL)
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(a) .Agency- shall mean the Community Development
Commission of tbe City of San Bernardino.
(b) .City- shall mean tbe City of San Bernardino, a
municipal corporation.
(c) -Community Redevelopment Law- shall mean Part 1 of
Division 24 of the ~ealth . Safety Code (commencing with
Section 33000).
(d) -District- shall mean the San Bernardino Valley
Municipal Water District.
(e) .Fiscal Year- or -Year- shall mean the periOd from
July 1 to and including the following June 30.
(f) .Project Area Increment- means all property taxes
allocated to the Agency with respect to the Project Area
pursuant to California Health and Safety Code Section 33670(b).
(g) -Redevelopment Plan- means the Redevelopment Plan for
the ~t. Vernon Corridor Redevelopment Project as approved by
Ordinance No. MC-733.
Section 2
A. The Agency shall pay to the District each Year, all of
those tax revenues received by the Agency pursuant to Health &
Safety Code Section 33670(b) which are attributable to tax
overrides levied by the District to pay interest and redemption
Charges on indebtedness within the meaning of Article ZIllA,
Section l(b) of the California Constitution.
B. Payments pursuant to this Section 2 are subject to the
conditions and limitations set forth in parts A and B of
Section 3 of this Agreement.
C. Except as set forth in this Section 2, no payments
ahall be made to District in respect to the Project Area.
Section 3
Payment to the District is subject to the following
conditions and limitations:
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A. Agency shall pay to the District amounts due pursuant
to this Agreement during each Fiscal Year within a
reasonable periOd after Agency receives such revenues
from the County AUditor-Controller provided that
payments in relation to allotments received between
07126/90
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B.
JUly 1 and December 31, of any Fiscal Year shall be
made DO later than the following February 28; and that
payments in relation to allotments received between
January I and June 30, of any Fiscal Year shall be
made no later than the following August 30.
The Agency's obligation to make payments heieunder
shall be limited to Project Are. Increment from the
Project Area received by the Agency. The City shall
have DO financial Obligation by virtue of this
Agreement, and shall not be responsible for the
discharge of Obligations of the Agency herein.
Section 4
District has received all notices, written or published,
that it is required by the Community Redevelopment Law to
receive during the process leading to the adoption of the .
Redevelopment Plan and hereby waives any and all legal rights
it may have to contest said Plan due to a failure to-receive
any statutorily required notice. The District agrees and
covenants that it shall DOt file or participate in opposition
to the Agency in any lawsuit attaCking or otherwise Questioning
the validity of the Redevelopment Plan, any statement of
indebtedness consistent with this Agreement, or any of the
findings or determinations made" by Agency or the Common Council
of the City in connection with such Redevelopment Plan.
Section 5
This Agreement supersedes any agreements, resolutions or
discussions between the Agency and District regarding the
matters set forth herein and constitutes the entire agreement
between the Agency and District with respect to the matters set
forth herein, and any changea, modifications or amendments
thereto shall be legally binding and effective only upon duly
ezecuted written amendment hereto; the District agrees to
rescind its Resolution No. 755.
Section 6
This Agreement shall become effective the date last
ezecuted below and shall continue in effect until Agency is
deactivated pursuant to Section 33141 of the California Health
and Safety Code or its successors; prOvided that this Agreement
ahall terminate automatically and be of no further force or
effect in the event that the Redevelopment Plan for the Project
is not adopted on or before December 31, 1991, or in the event
the adoption of the Project should.be set aside or annulled as
a result of litigation.
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IN WITNESS WHEREoF, the parties hereto have ezecuted
this Agreement on the day and year first above written.
Dated:
q-/,?/,v
SAR BERNARDINO VALLEY MUNICIPAL
WATER DISTRICT
By: //1JtJ~ t~l y.
President, Board of Directors
Dated:
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO
By:
Chairman
Approved as to Fora:
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07126/90
9961D1'260l/11-4
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AGREEMENT BY AND BETWEEN THE
SAN BERNARDINO UNIFIED SCHOOL
DISTRICT AND THE COMMUNITY
DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO
This Agreement is made and entered into this
day of , , 1990 by and between the San Bernardino Unified
School District (the "District") and the Community Development
Commission of the City of San Bernardino (hereinafter referred
to as the "Agency").
B!~lI~!!~
WHEREAS, the Agency is a redevelopment agency existing
pursuant to the provisions of the Community Redevelopment Law
(California Health and Safety Code Section 33000 !1 !!S.) which
has been authorized to transact business and exercise the
powers of a redevelopment agency pursuant to action of the
Common Council of the City of San Bernardino: and
WHEREAS, on November 7, 1989, the Planning Commission of
the City of San Bernardino approved Resolution No. PC89-2,
establishing boundaries for the proposed Mt. Vernon Corridor
Redevelopment Project Area (the "Project Area"); and
WHEREAS, the Agency and the City have notified the District
of their intention to prepare a redevelopment plan and conti'lUe
with proceedings to establish a redevelopment project (the
.project") for the Project Area: and
WHEREAS, meetings have been held by representatives of the
District and representatives of the Agency to discuss the
potential fiscal impact of the Project on the District; and
WHEREAS, for the above reasons, to alleviate any financial
burden or detriment which the Project may cause the District.
and to amicably resolve any differences regarding the Project.
the parties hereto enter into this Agreement;
NOW, THEREFORE. in consideration of the foregoing and the
mutual covenants and conditions contained herein, the parties
hereto agree as follows:
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Section 1.
The words and terms in this Agreement, unless a different
meaning clearly appears from the context. shall have the
meanings set forth as follows:
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(a) -Agency- shall mean the Community Development
Commission of the City of San Bernardino.
(b) -City- shall mean the City of San Bernardino, a
municipal corporation.
(c) -Community Redevelopment Law" shall mean Part 1 of
Division 24 of the Health & Safety Code (commencing with
Section 33000).
(d) -District" shall mean the San Bernardino Unified
School District.
(e) -District Inflationary Revenues- for any Fiscal Year
shall mean those moneys which would have been payable to the
District in respect to the Project Area pursuant to Revenue and
Tazation Code Sections 110.1(f) and 5l(a), which the District
would have received in such Fiscal Year from the Project Area
pursuant to Health and Safety Code Section 33676(a)(2) if the
District had adopted a resolution thereunder and had elected to
receive such revenues.
(f) -District Portion- shall mean eighty percent (80\) of
that portion of the taxes allocated to and received by the
Agency as Project Area Increment pursuant to Health and Safety
Code Section 33670(b) resulting from the general purpose tax
levy of the District. For purposes of this Agreement, the
percentage used by the Agency in calculating such portion shall
be the same percentage of the -frozen base- from the Project
Area which is allocated and paid to the District (or its
successor) pursuant to Health and Safety Code Section 33670(a)
as of adoption of the Redevelopment Plan for the Project.
namely eighty percent (80\) of 30.6982\ of the 1\ levy; the
remaining twenty percent (20\) of 30.6982\ of the one percent
(1\) levy shall at all times be retained by the Agency. An
illustrative example of the application of this definition is
attached as Exhibit -A" hereto.
(g) -Fiscal Year" or -Year" shall mean the periOd from
JUly 1 to and including the following June 30.
(h) -Project Area Increment- shall mean all property taxes
allocated to the Agency with respect to the Project Area
pursuant to California Health and Safety Code Section 33670(b).
(i) -Redevelopment Plan" shall mean the Redevelopment Plan
for the Mt. Vernon Corridor Redevelopment Project as approved
by Ordinance No. Me 733.
(j) -Term- shall mean the periOd of time the Redevelopment
Plan remains in effect.
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Section 2.
For the periOd commencing July 1, 2016 through the
remainder of the Term, in addition to the amounts
specified in Paragraph A(l) and (2) of this Section 2,
the Agency shall .pay to the District each Year an
amount equal to fifteen percent (15\) of the District
Portion which is received by the Agency in such Year.
That share of the District Portion which the Agency
retains pursuant to this Agreement shall be used for
redevelopment purposes as shall hereafter from time to
time be determined by the Agency.
F. Payments to the District pursuant to this Section 2
are subject to the conditions and limitations set
forth in Section 3 of this Agreement. -
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A. For the periOd commencing July 1, 1991 through June
30, 1998, the Agency shall retain each Year an amount
equal to one hundred percent (100\) of the District
Portion which is received by the Agency in such Year;
provided that the Agency shall pay to the District:
(1) an amount equal to the District Inflationary
Revenues for such Fiscal Year; and
(2) an amount equal to all or any portion of the tax
revenues received by the Agency in such Year,
pursuant to Health' Safety Code Section 33670(b)
which are attributable to increases in the rate
of tax imposed for the benefit of the District
which levy OCcurs after the year in which the
Ordinance adopting the Redevelopment Plan becomes
effective.
B. For the periOd commencing July 1, 1998 through June
30, 2006, in addition to the amounts specified in
Paragraph A(l) and (2) of this Section 2, the Agency
shall pay to the District each Year an amount equal to
seven and one-half percent (7.5\) of the District
Portion which is received by the Agency in such Year.
For the periOd commencing July 1, 2006 through June
30, 2016, in addition to the amounts specified in
Paragraph A(l) and (2) of this Section 2, the Agency
Shall pay to the District each Year an amount equal to
twelve and one-half percent (12.5\) of the District
Portion which is received by the Agency in such Year.
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G.
Except as set forth in this Section 2, no payments
shall be made to the District with respect to the
Project Area or the Redevelopment Plan.
H. Notwithstanding the foregoing provisions of this
Section 2, the right of the District to receive
payments pursuant to this Agreement shall be
subordinated to such bonded indebtedness (or other
similar forms of indebtedness) as the Agency may from
time to time incur to further the implementation of
the Redevelopment Plan. If payment of any amounts
otherwise payable to District is delayed by virtue of
this paragraph H, the Agency shall'make payment to the
District of such amounts, together with interest at
the rate of eight percent (8\) simple per annum, when
Project Area Increment becomes available to the Agency
after making debt service payments on its indebtedness
as described above.
I. The Agency will, upon request therefor by the
District. consider utilizing its powers to issue, on a
parity or junior lien basis, bonds secured by the
District Portion to advance the aims and objectives of
the District.
Section 3.
Payment to the District is sUbject to the fOllowing
conditions and limitations:
A. Agency's obligation under this Agreement is deemed to
constitute Nan indebtednessN within the meaning of
Health & Safety Code Sections 33670 and 33675.
B.
Agency shall pay to the District amounts due pursuant
to this Agreement during each Fiscal Year within a
reasonable periOd after Agency receives such revenues
from the County Auditor-Controller provided that
payments in relation to allotments received between
July 1 and December 31, of any Fiscal Year shall be
made no later than the fOllowing February 28; and that
payments in relation to allotments received between
January 1 and June 30, of any Fiscal Year shall be
made no later than the fOllowing June 30.
The Agency's Obligation to make payments hereunder
shall be limited to Project Area Increment from the
Project Area received by the Agency. The City-shall
have no financial obligation by virtue of this
Agreement, and shall not be responsible for the
discharge of obligations of the Agency herein.
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D.
Notwithstanaing any other provisions of this Agreement
to the contrary, the Agency'S obligation to make
payments to the Districtunaer this Agreement in any
single year shall not: (i) exceea the amount' of
property tax revenues which woula have been receivea
by either if all the property tax revenues from the
Project Area haa been allocatea to .all the affected
taxing agencies without regara to the division of
taxes required by Health and Safety Code Section
33670; (11) violate the expenaiture limitation under
Article XIIIB of the California Constitution of such
entity; or (iii) be contrary to an order of a court of
competent jurisaiction or contrary to any provision of
the laws of the State of California.
Section 4.
All amounts' payable to the District pursuant to this
Agreement shall be hela in a segregated account maintained by
the Agency and shall be applied by District for the
construction, rehabilitation, or expansion of school bUildings
of the District which directly serve residents of the Project .
Area and for such other capital improvements as to Which Agency
may give its written consent.
~ Section 5.
A. The District represents that it has not nor shall it
adopt a resolution electing to receive revenues
pursuant to Health and Safety Code Section 33676(a)(2)
in connection with the Project. If such a resolution
is approved, District agrees to and shall, prior to
receipt Of payments pursuant to this Agreement,
rescind such resolution.
B.
In the event that the District receives payment of
funds referred to in this Agreement directly from the
County Auditor-Controller, the Agency shall be
entitlea to offset payments due and payable to the
District by any amount of funds the District has
received directly from the County AUditor-Controller.
Section 6.
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District has receivea all notices, written or publishea,
that it is required by the Community Redevelopment Law to
receive during the process leading to the adoption of the
Redevelopment Plan and hereby waives any and all legalitights
it may have to contest said Plan due to a failure to receive
any statutorily required notice. The District agrees and
Covenants that it shall not file or partiCipate in opposition
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to the Agency in any lawsuit attacking or otherwise questioning
the validity of the Redevelopment Plan, any statement of
indebtedness consistent with this Agreement, or any of the
findings or determinations made by Agency or the Common Council
of the City in connection with such Redevelopment Plan.
Section 7.
This Agreement supersedes any agreements or discussions
betwe~n the Agency and District regarding the matters set forth
herein .and constitutes the entire agreement between the Agency
and District with respect to the matters set forth herein, and
any changea, modificstions or amendments thereto ahall be
legally binding snd effective only upon duly executed written
amendment hereto.
Section 8.
This Agreement shall become effective the date last
executed below and shall continue in effect until Agency is
deactivated pursuant to Section 33141 of the California Health
and Safety Code or its successors; provided that this Agreement
shall terminate automatically and be of no further force or
effect .in the event that the Redevelopment Plan for the Project
is not adopted on or before December 31, 1991, or in the event
the adoption of the Project should be set aside or annulled as
a result of litigation.
IN WITNESS WHEREOF, the parties hereto have executed
this Agreement on the day and year first above written.
Dated:
%'h.rI'9&
SAN BERNARDINO UNIFIED SCHOOL
DISTRICT
By:
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Dated:
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO
By:
Chairman
Approved as to Form:
07/0~.IQn
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aUIall' ok
San B.rnardino Unified School Diatrict
Caleula1;j.on of "utriClt: pl)~
A. . Percenta;e of the "frozen base" tax revenue
allocate~ to the District pursuant to Health
and Safety Cod. Section 33670(a)
· 30.6PS2t
J1. Percenta;. appUed to CA.) to d.t.nun. th.
J)iatrict Portion, purauant to Section ICt)
ot the Agr....nt
· lot
c. J)iatrict Portion CA.) x CB.)
· 24.5585n
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.. H01'Zt '!or exams.1e puzpo... only. ~e Diatrict Portion will !).
Uled to oalculat. th. actual abar. ot tax incr..ent
receiv.d !)y the Diatdct, it any,. pur,uant to the t.rm.
Of the Agore'..nt.
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5/21190 SAN IERNARD I NO REDEVELOPllE,NT ' .
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0 ' ('X) AGENCY - MT. VERNON CORRIDOR ..ACENCY.PROPOSAL..
I.I_U.I.D. PROJECT . ,...
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FT ASIESSED GROSS INCREHENT SAN IERNARDINO INFLATIONARY PASS-TIIRU TOYAL TO TOTAL TO
- VALUATIQl.~ROIITH REVENUE UNIFIED REVENUE TO TO 1.1. UNIF. 1.1. UNIF. ACENCY
(4X) (A,V,'IASE)..OI (.306982) S.I. UNIF. TRI. 1-7'0 (ChC5) (O-C6)
TRI' 1'15 .7.51
b... 19-90 19Z,861,336 TRS. 16-ZS'lZ.51
YRS. Z60 '15%
1 90-91 196,575,789 10 10 10 10 10 10
Z 91-9Z l100,UI,821 175,775 123,Z6Z 111,517 10 111,517 111,745
3 9Z-93 1104,456,374 1115,950 135,59S 117,448 10 117,441 111,146
4 93-" 1101,634,629 1157,733 14I,4Z1 123,499 10 123,499 IZ',92Z
5 94,95 I11Z,910,014 IZ01,117 861,761 IZ9,670 10 129,670 , 13Z,091
6 95'96 1117,'99,Z15 IZ46,379 175,634 135,965 10 ' 135,965 - , Sl9,669
7 96-97 I1ZZ,l99,l83 IZ93,371 19O,06Z 14Z,315 10 14Z,315 147,676
I 97-91 11ir ,017, ISO : 13'l,Z51 1105,067 141,935 12,634 151,568 153,'"
9 91'99 113Z,170,636 1393,093 I1Z0,672 155,615 13,069 158,614 161,91' '
10 99-00 1137,457,46Z 1445,961 - 1136,90Z S62,'l1 13,53Z 865,960 170,942
11 00-01 114Z,955,760 1500,944 1153,711 86',371 14,023 173,'02 110,379,
lZ 01-0Z 1141,673,991 1551,127 1171,335 S76,467 14,545 111,012 S9O,323 -
13 OZ-03 S154,620,950 8617,596 S119,591 113,691 S5,091 saa,796' S10D,795
l' 03-04 S160,105,711 8679,445 1201,577 191,073 S5,614 196,757 S111,I20
0 IS 04-05 s167,23I,OZO S743,767 SZZI,323 191,596 86,305 SlO4,901- SI23,'lZ
16 05-06 SI73,927,541 1110,662 SZ41,I59 1106,269 Sll,602 S117,171 1130,917
17 06-07 Sl10,II4,642 saao,233 1270,216 Sl14,096 SlZ,760 S126,I55 S1U,360
II 07-01 Sl11,120,021 S95Z,5~7 SZ92,427 S122,079 113,983 S136,062 1156,365
" 01-09 1195,644,IZ9 S1,027,135 1315,527 S130,222 115,275 1"5,497 S170,030
20 09-10 SZ03,470,62Z S1,1ot.,093 1339,551 1131,5Z1 116,639 1155,167 1184,384
Z1 10-11 IZll,609,"7 S1,117,411 S364,535 1147,000 S1I,079 S165,071 S199,'57
ZZ 11-12 IZ20,073,825 SI,272,1Z5 s390,519 1155,641 S19,597 S175,238 SZI5,Z82
Z3 12-13 12Z8,876,778 ' Sl,36O,154 1417,543 1164,455 SZ1,197 1185,653 ' 1231,890
2' 13-14 S231,031,14' S1,451,705 1445,647 1173,"6 IZZ,II4 1196,330 1249,318
Z5 14-15 IZ'7,553,123 S1,546,911 1474,176 SIIZ,616 IZ4,661 IZ07,277 IZ67,599
26 15-16 S257,455 ,2'8 S1,"5,939 1505,27' SI91,970 131,837 s223,807 sZal,467
27 16-17 SZ67,753,458 S1,748,9Z1 1536,117 IZ01,510 Sl4, ZOO SZ35,710 S301,177
Z8 17-11 IZ78,463,596 S1,156,023 1569,766 IZ11 ,Z'2 136,616 5Z47,9Z1 53ZI,838
29 18-19 SZI9,602,140 SI,967,408 8603,959 5ZZ1,168 139,300 5Z6O,'68 s343,49'
30 ,,-ZO s301,186,226 IZ,083,Z49 1639,5Z0 SZ31 ,293 142,041 SZ73 ,341 S366 ,ii,
31 20-Z1 5313,233,675 SZ,203,723 8676,503 5Z41 ,6Z0 144,937 SZ86,557 1389;~46
32 21-2Z 53Z5,763,02Z 5Z,3Z9,017 1714,966 125Z, 154 147,973 5300,1Z7 S414,840
33 2Z-23 S338,793,543 52,459,3ZZ 5754,968 5Z62,I91 551,161 S314,06O 1440,908
34 23-24 5352,345,285 S2,594,139 S796,569 5Z73,858 S54,510 13ZI,367 5468,Z02
35 24-25 S366,U9,096 IZ,735,771 1839,834 1285,036 151,OZ5, 5343,061 1496,77'
36 25-Z6 5381,096,660 5Z,1I2,353 SII4,831 1296 ,438 861,714 5358,152 S5Z6,678
37 26-27 5396,3'O,5Z6 S3,034,792 5931,626 1308,068 865,585 S373,653 S557,973
31 27-21 1412,194,147 53,193,328 1980,294 1319,931 869,646 1389,577 1590,718
39 28-29 1428,681,913 13,358,Z06 11,030,909 5332,031 173,904 1405,935 1624,973
0 40 29-30 1445,829,190 53,529,679 11,083,548 5344,373 578,370 1422,743 5660,805
" 30-31 1463,662,357 53,701,010 S1 , 138,292 5356,962 S83,051 1440,013 1698,280
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TOTALS 158,297,973 111-;896,4Z8 86,511 ,577 11,084,513 , 57,596,091 110,300,338
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San Bernardino City Unified School DIstrict
CERTlFICAnON OF MINUTES
The Boartt met in regular session on the 7th $y of August, 1990, at the usual
meeting place thereof. The meeting was called to order at 5:30 p.m.
Members present:
Members absent:
.
H. Brown, M. Brown, Diaz, Obershaw, Savage, Yeager
Neigel
The adoption of the following resolution and order was moved by Member H.
Brown, and seconded by Member Yeager, and a vote being taken, the said
resolution and order was edopted by the following votes of members present at
that time.
AYES: Members
NOES: Members
H. Brown, M. Brown, Diaz, Obershaw, Savage, Yeager
None
ABSTENnONS:
Members None
BE rr RESOLVED that the Board of Education accepts and approves the
Agreemen~ with the City of San Bernardino Redevelopment Agency regarding the
Ml Vernon Corridor Redevelopment Project.
BE rr ALSO RESOLVED that Dr. Harold L Boring, Assistant Superintendent,
Admlnl$tl'ative Services, be authorized to sign all necessary documents on behalf of
the Board of Education.
I, E. NEAL ROBERTS, Secretary of the Governing Board of the San Bernardino City
. Unified School District hereby certify .that the foregoing is a true and correct copy
of a resolution duly made, adopted and entered in the Board minutes of the
Governing Board of the San. Bernardino City Unified School District on the 7th day
of August, 1990.
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Dated: .
August 1~' 1 ~
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sed ~ 0 ucation-
A~enda Item 8.42
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AGREEMENT BY AHD BITWEENTHE
RIALTO UNIFIED SCHOOL
DISTRJCT AHD THE COMMUHITr
DEVELOPMEMT COMMISSIOR OF THE
CITr OF BAR BElUWlDIRO
This Agreement is made and entered into this 25th
day of .1,,1\ , ' ,1990 by and tH,tween tJleRialto Unified School
District (t e .Distri~t-) and the Community Development
Commission of the City of San Bernardino (hereinafter referred
~o a. the -Agency-).
B~~.!:l!1!!
WHEREAS, the Agency ia a redevelopment agency eai.ting
pursuant to the.provi.ions of the Community Redevelopment Law
(California Health and Saf~ty'Code Section 33000 ~ !!g.) which
ha. been authoriaed to transact business and exerer.e the
powers of a redevelopment agency pursuant to action of the
COmmon Council of the City of San Bernardino; and
WHEREAS, on Rovember 7, 19S9, the Planning Commission of
the City of San Bernardino approved Resolution Ro. PCS9-2,
estabUsbing boundaries for tbe proposed Nt. Vernon Corridor
Redevelopment Project Area (tbe .Project Area-); and
WHEREAS, tbe Agency and the City have notified tbe District
of tbeir intention to prepare a redeve'~pment plan and continue
with proceedings to establish a redevelopment project (tbe
.Project-) for tbe Project Area; and '
WHEREAS, meetings bave been beld by representatives of tbe
District and representatives of the Agency to discuss tbe
potential fiscal impact of tbe Project Oft tbe District; and
WHEREAS, for tbe above reasons, to alleviate any financial
burden or detrimentwbicb tbe Project may cause tbe District.
and to amicably resolve any differences regarding the Project,
tbe parties bereto enter into tbis Agreement;
ROW, THEREFORE, in consideration of tbe foregoing and the
mutual covenants and conditions contained herein, the parties
hereto. agree as follows:
Section 1.
Tbe words and term. in this Agreement, unless a different
meaning clearly appears from the context, shall have the
..anings set forth as follows:
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(a) -Agency- .haU ...an the Community Development.
Commission of the City of San Bernardino.
(b) -City- sball mean the City of San Bernardino. a
municipal corporation.
(c) -Community Redevelopment Law- shall mean Part 1 of
Division 24 of tbe Health. Safety Code (commencing with
Section 33000). "
(d) -District- sball mean tbe Rialto Unified SChool
Dhtdct.
(e) -District Inflationary Revenues- for any Fiscal Year
sbaU _an those moneys wbich would have been payable to the
District in respect to tbe Project Atea pursuant to Revenue and
Taaation Code Sections 110.1(1) and 51(a). which the District
WOuld bave rec::elve!2 in SUch Flact! Year from the Project Are.
pursuant to Healtb and Safety Code Section 33676(a)(2) if tbe
District bad adopted a resolution thereunder and had elected to
receive such revenues. ~
(f) -District Portion- shall ...an~eighty percent (80\) of
tbat portion of the taae. allocated to and received by the
Agency as Project Area Increment pursuant to Health and Safety
COde Section 33670(b) resulting from the general purpose tea
levy of the Dhtdct. For purpos.s of tbh Agreement. the
percentage used by the Agency in calculating such portion shall
be the same percentage of the -frozen bas.- from tbe Project
Area which is allocated and paid to the District (or its
successor) pursuant to He...1th and Safety Code S~ction 33670(a)
as of adoption of tbe Redevelopment Plan for the Project.
namely eighty percent (80\) of 2.8683\ of the 1\ levy; the
remaining twenty percent (20\) of 2.8683\ of the one percent
(1\) levy shall at all times be retained by the Agency. An
illustrative example of the application of this definition is
attached as Ezhibit -A- hereto.
(g) -Fiscal Year- or -Year- shall mean the periOd from
JUly 1 to and including the fOllowing June 30.
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(h) -Project Area Increment- shall mean all property taaes
allocated to the Agency with respect to the Project Area
pursuant to California Health and Safety Code Section 33670(b).
(i) -Redevelopment Plan- shall ...an the Redevelopment Plan
for tbe Nt. Vernon Corridor Redevelopment Project as approved
by Ordinance No. Me 733.
(j) -Term- shall mean the period of time the Redevelopment
Plan remains in effect.
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Section 2.
A. For tbe period cOllllllencing July 1. 1991 tbrough June
30. 1998. the Agency ahall r.tain each Year an amount
eQual to one hundred p.rcent (100\) of tbeDiatrict
Portion wbich ia receiv.d by the Agency in aucb Year;
provided tbat the Ageney .ball pay to the District:
(1) .n .mount eQu.l to the District Inflationary
Rev.nues for such Fisc.l Ye.r; .nd
(2) .n amount 'QU.l to .11 or .ny portion of the t.x
revenu.s r.c.i..d by the AgenCy in aucb.Year.
pur.uant to Realth . Safety Cod. S.ction 33670(b)
which .r. attribut.bl. to incr..... in the r.te
of tax imposed for the ben.fit.of tbe Di.trict
wbicb levy Occurs .fter .th. year in wbicb the
Ordin.nc. adopting the Redevelopment Pl.n becomes
effectiv..
B. For the.period commencing July 1.1998 through June
30. 2006. in addition to the .mounts .pecified in
P.ragr.ph A(l) .nd (2). of this Section 2. the Agency
ahall pay to tbe ~iatrict e.ch Ye.r .n amount eQu.l to
seven .nd one-balf percent (7.5\) .of the District
Portion which 1. received by the Agency in .uch Year.
For the periOd commencing July 1. 2006 through June
30. 2016. in .ddition to the amount. .pecified in
Paragraph A(l).nd. (2) Of this Section 2. tbe Agency
.hall pay to the Di.trict eacb Year .n amount e~ual to
twelve .nd one-h.lf percent (12.5\) of the Di.trict
Portion which is received by tbe Ageney in such Year.
C.
D.
For the periOd commencing July 1. 2016 through the
rem.inder of the Term.. in addition to the amount.
.pecified in P.ragr.ph A(l) .nd (2) of this Section 2,
the Ageney .hall pay to. the Di.trict each Year .n
amount eQual to fifteen percent (15\) of the Di.trict
Portion which i. received by the Agency in .uch Year.
That .b.re of tbe District Portion which the Agency
retain. pur.uant to this Agreement .hall be u.ed for
redevelopment purpo.es as shall hereafter from time to
time be determined by the Agency.
F. Payments to the Di.trict pursuant to this Section 2
are subject to the conditions and limitations .et
forth in Section 3 of this Agreement.
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0079u.l2601.l0ll
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G.
Ezcept'as set forth in this Section 2. no payments
shall be made to the Qistrict with respect to the
Project Area or the Redevelopment Plan.
H. Notwithstanding the foregoing provisions of ~his
Section 2. the right of the Qistrict to receive
payments pursuant to this Agreement shall be
subordinated to auch bonded indebtedness (or other
similar forms of indebtedness) as the Agency may from
time to time incur to further the implementation of
the Redevelopment Plan. If payment of any amounts
otherwise paya~le to Qistrict is delayed by virtue of
this paragraph". the Agency shall make payment to the
Qistrict of such amounts. togetber.with interest at
the rate of eight percent (8\) simple per annum. when
Project Area Increment becomes available to the Agency
after making debt service payments on its indebtedness
as described above. .
I. The Agency will. upon request therefor by the
District. consider utiliZing its powers to issue, on a
parity or junior lien basis, bonds secured by the
District Portion to advance the aima and objectives of
the District.
Section 3.
Payment to the District is subject to the following
conditions and limitations:
A. Agency's obligation under this Agreement is deemed to
constitute -an indebtedness- within the meaning of
Health. Safety Code Sections"33670 and 33675.
B.
Agency shall pay to the District amounts due pursuant
to this Agreement during each Fiscal Year within a
reasonable period after Agency receives such revenues
from the County Auditor-Controller provided that
payments in relation to allotments received between
July 1 and December 31, of any Fiscal Year shall be
made no later than the following February 28~ and that
payments in relation to allotments received between
January 1 and June 30, of any Fiscal Year shall be
made no later than the fOllowing June 30.
C. The Agency'S Obligation to make payments hereunder
shall be limited to Project Area Increment from the
Project Area received by the Agency. The City shall
have no financial obligation "by virtue of thir
Agreement, and shall not be responsible for the
discharge of obligations of the Agency herein.
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D. Notwithstanding any other provisions of ~his ~greement
to the contrary. the Agency's obligation to make
payments to the Dist~ict under this Agreement in any
single year shall nO.t: . (i) eac"ed the alllOunt of
property taa revenues which would have been received
by either if all the property taa revenues from the
Project Area had betan allocated to all the affected
taaing agenCies without regard to the division of
taae. required by Health and Safety Code Section
33670; (ii) violate the eapenditure limitation under
Article XIII8 of the California Constitution of such
entity; or (iii) be contra~ to an order of a court of
competent jurisdiction or contra~ to any provision of
the laws of the State of California.
Section 4.
All amounts payable to the District pursuant to this
Agreement ahall be held in a aeg~egated account maintained by
the Agency and shall be applied by District for the
constructiOn. rehabilitation. or eapansion of school buildings
of tbe District which directly ~erve residents of the Project
Area and for auch other capital improvements as to which Agency
may give ita written consent. .
Section S.
A. The District represents that it has not nor sball it
adopt a resolution electing to receive revenues
pursuant to Health and Safety Code Section 33676(a)(2)
in connection with the Project. If such a resolution
is approved. District agrees to and shall. prior to
receipt of payments pursuant ~o this Agreement,
rescind such resolution. .
B.
In the event that th. District receives payment of
funds referred to in this Agreement directly from the
County Auditor-Controller. the Agency shall be.
entitled to off.et payments due and payable to the
District by any alllOunt of funds the District has
received directly from the County Auditor-Controller.
Section 6.
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District has received all notices, written or publiShed,
that it is required by the Community Redevelopment Law to
receive during the process l'ading to the adoption of the
Redevelopment Plan and hereby waives any and all legal_rights
it may have to contest said Plan due to a failure to receive
any atatutorily required notice. The District agrees and
covenants that it shall not file or participate in opposition
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tQ tbe Agency in any laws~it attacking Qr otberwise questioning
tbe validity of tbe Redevelopment Plan, any statement of
indebtedneas consistent witb this Agreement, or any of tbe
findings or determinations made by Agency or the Common Council
of the City in connection with sucb Redevelopment Plan.
Section 7.
Tbis Agreement supersedes any agreements or discuasions
between the Agency and District regarding tbe matters set fortb
berein and constitutes tbeentire a9reement between the Agency
andDistrictwitb respect to tbe matters set fortb herein, and
any cbanges, modifications or amendments tbereto sball be
legally binding and effective only upon duly executed written
amendment hereto.
Section 8.
Tbis Agreement sball become effective the date last
executed below and sball continue in effect until Agency is
deactivated ~rauant to Section 33141 of'tbe California Healtb
and Safety Code,or its succes.ors; provided that tbis Agreement
ahall terminate automatically aad be of no furtber force or
effect, in tbe event tbatthe Rede.elopm8ntPlan for tbe Project
is not adopted On Or before DeCember 31, U!iIl, or in tbe event
the adoption of tbe Project sbould be set aside or annulled as
a result of litigation.
IN WITNESS WHEREOF, tbe parties hereto have executed
tbis Agreement on tbe day and year first above written.
Dated:
July 25, 1990
RIALTO UNIFIED SCHOOL DISTRICT
Dated:
By: f}- rT? gOoD .A~
Otto Roenmfc , Ed.D.
Interfm Superfntendent
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO
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By:
Chairman
Approved as to Form:
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aulll &
lUal to Unified labOOl I>btdDt:
ea1eula\SClft ~~ ftat:lat. ~
Peroenta,. of the "tn.. ..e. tax revenue
allocated toth. l>18tdot _want to "alth
and Safety Cod. I.otion 33170(a)
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Peroenta,. applied to (A.) to d.tenlne th.
1>18"1Dt: Portion, rnanuant b ..otlon.1(f)
of i:h. A,n...nt ,
- 10'
I>btdDt: PoRion (A.) x (a.)
- 2.2'414'
For .ullpl. pupo... only. I'be D18tdot Ponion .111 be
.ed to calcUlate U. actual ahan of tax lftOZ'aent
r.oelved by the D18"iOt, it any, pu.uant to tba tea.
of U. All'e...t. .
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AGREEMERT BY AND BETNEEIJ THE
COLTON JOINT UNIFIED SCHOOL
DISTRICT AMD THE' COMMUNITY
DEVELOPlmn COMMISSION OF THE
CITY OF SAN BERNARDINO
This Agreement is made and entered into this 2nd
day ,otAurst " 19110 by and between the Colton Joint Unlfled
District the -Di.trict-) and the Community Development
Commi.sion of the City of San Bernardino (hereinafter referred
to a. the -Agency-).
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WHEREAs, the Agency is a redevelopment agency ezi.tin;
pur.uant to the provi.ions of the Community -edevelopment Law
(California Health and Safe~y COde Section 33000 ~ ~.) which
ha. been authori.ed to tranaact bUlines. and ezercr.e the
powers of a redevelopment agency pursuant to action of the
Common Council of the City of San BerDardino; and
WHEREAS, on November 7, 1989, the Planning Commission of
tile City of San Bernardino approved Re.olution No. PC89-2,
establishing boundaries for the proposed Nt. Vernon Corridor
Redevelopment Project Area (the -Project Area-); and
WHEREAS, the Agency and the City have notified the District
of their intention t~ prepa.. a redevelopment plan and continue
with proceedings to establish a redevelopment project (the
.Project-) for the Project Area; and
WHEREAs, meetings' have been held by representative. of the
District and representative. of the Agency to discuss the
potential fiscal impact of the Project on the District; and
WHEREAS, for the above rea.ons, to alleviate any financial
burden or detriment which the PrOject may cause the District,
and to amicably resolve any differences regarding the Project,
the parties hereto enter into this Agreement;
NOW, THEREFORE, in consideration of the foregoing and the
mutual covenants and conditions contained herein, the parties
hereto agree as follows:
Section 1.
The words and terms iDthis Agreement, unle.. a different
meaning clearly appear. from the contezt, shall have the
..anings set forth as follows:
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(a) -Agency- shall mean tbe Community Development
Commission of tbe City of San Bernardino.
(b) -City- sball ..an tbe City of San Bernardino, a
municipal corporation.
(c) -Community Redevelopment Law- sball mean Part 1 of
Division '24 of the Healtb. Safety Code (commencing with
Section 33000).
(d) -District- shall mean the Colton Joint Unified
District.
(e) -District Inflationary Revenues- for any Fiscal Year
shall mean tbose moneys whi~h would have been payable to the
District in respect to th, project Area pursuant to Revenue and
Taxation Code Sections 110.1(f) and 5l(a), which the District
would have received in such Fiscal Year from the Project Area
pursuant to Health _nd Sa(ety Code Section 33676(a)(2) if the
District had adopt*d a resolution thereunder and bad elected to
receive such revenues.
(f) -District Portion~ shall mean eighty percent (80\) of
that portion of tile tax.s allocated to and received by the
Agency as Project Area Increment pursuant to Health and Safety
Code Section 33670(b) resulting from the general purpose tax
levy of the Distriet. For purpose. of this Agreement, the
percentage used by the Agency in calculating such portion shall
be the same percentage of the -frozen base- from the Project
Area which is allocated and paid to the District (or its
successor) pursuant to Health .ndSa~ety Code Section 33670(a)
as of adoption of the Redevelopment Plan for the Project,
namely eighty percent (80\) of .5904\ of the 1\ levy; the
remaining twenty percent (20\) of .5904\ of the one percent
U\) levy shall at all times be retained by the Agency. An
illustrative example of the application of this definition is
attached as Exhibit -A- hereto.
(g) -Fiscal Year- or -Year- shall mean the periOd from
July 1 to and inClUding the following June 30.
(h) -Project Area Increment- shall mean-all property taxes
allocated to the Agency with respect to the Project Area '"
pursuant to California Health and Safety Code Section 33670(b).
(i) -Redevelopment Plan- shall mean the Redevelopment Plan
fot the Mt. Vernon Corridor Redevelopment Project as approved
by Ordinance No. MC 733.
(j) -Term- shall mean the periOd of time the Redevelopment
Plan remains in effect.
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Section 2.
A. For tbe period commencing JUly 1. 1991 tbrough June
30. 1998. the Agency aball retain each Year an amount
equal to one hundred Percent (100\) of the District
Portion whicb is received by the Agency in sucb Year;
provided that the Agency shall pay to the District:
(1) an amount equal to the District Inflationary
Revenues for such Piscal Year; and
(2) . an amount equal to all or any portion of the taz
revenues received by the Agency in such Year.
pursuant to Health & Safety Code Section 33670(b)
which are attributable to increases in the rate
of taz imposed tor tbe benefit of tbe District
wbicb levy occurs after tbe Year in wbicb tbe
Ordinance adopting tbe Redevelopment Plan becomes
effective.
B. For tbe periOd commencing July 1. 1998 tbrough June
30. 2006. in addition to the amounts specified in
Paragrapb A(I) and (2) of this Section 2. tbe Agency
sball pay to the.biatrict each Year an amount equal to
seven and one-half percent (7.5\) of tbe District
Portion wbicb is received by tbe Agency in sucb Year.
For tbe period commencing July 1. 2006 tbrougb June
30. 2016. in addition to the amounts specified in
Paragraph A(l) and (2) of this Section 2. tbe Agency
sball pay to tbe District eacb Year ~n amount equal to
twelve and one-balf percent (12.5\) of the District
Portion wbicb ia received by tbe Agency in sucb Year.
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E.
D. Por tbe period commencing July 1. 2016 tbrough tbe
remainder of tbe Term, in addition to tbe amounts
specified in Paragraph A(I) and (2) of tbis Section 2,
the Agency sball pay to the District each Year an
amount equal to fifteen percent (15\) of the District
Portion which is received by the Agency in such Year.
That share of tbeDistrict Portion wbich the.Agency
retains pursuant to tbis Agreement shall be used for
redevelopment purposes as shall bereafter from time to
time be determined by the Agency.
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F. Payments to tbe District pursuant to tbis Section 2
are subject to tbe conditions and limitations set
fortb in Section 3 Of this Agreement.
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0078u/260l/011
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G.
Ezcept as set forth in this Section 2, no payments
shall be made to the District with respect to the
Project Area or the Redevelopment Plan. .
H. Notwithstanding the foregoing provisions of this
Section 2, the right of the District to receive
payments pursuant to this Agreement shall be
subordinated to such bonded indebtedness (or other
similar forms- of hldebtedness) as the Agency may from
ti.. to time incur to further the implementation of
the ledevelopment Plan. If payment of any amounts
otherwise payable to District is delayed by virtue of
this paragraph H,the Agency shall make payment to the
District of such amounts, together with interest at
the rate of eight percent (8\) simple per annum, when
Project Area Increment becomes available to the Agency
after.aking debt serviCe payments on its indebtedness
a. described above.
I. The Agency will, upon request therefor by the
District, consider utilizing its powers to issue, on a
parity or junior lien bads, bonds secured by the
District Portion to advance the aims and Objectives of
the District. .
Section 3.
Payment to the District is subject to the following
conditions and limitations:
A. Agency's Obligation under this Agreement is '.emed to
constitute .an indebtedness. within the meaning of
Health & Safety Code Sections 33670 and 33675.
B. Agency shall pay to the District amounts due pursuant
to this Agreement during each Fiscal Year within a
- reasonable period after Agency receives such revenues
from the County Auditor-Controller provided that
payments in relation to allotments received between
July 1 and December 31, of any Fiscal Year shall be
made no later than the following February 28; and that
payments in relation to allotments received between
January 1 and June 30, of any Fiscal Year shall be
made no later than the following June 30.
C. The Agency's obligation to make payments hereunder
shall be limited to Project Area Increment from the
Project Area received by the Agency. The City shall
have DO financial Obligation by virtue of thi.-
Agreement, and shall not be responsible for the
discharge of obligations of the Agency herein.
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D.
Notwitbstanding any otber provisions of tbis Agreement
to tbe contrary, tbe Agency'a obligation to make
payments totbe District under this Agreement in any
aingle year ahall not: (i) ezceed tbe amount of
property taz revenues which would bave been received
by eitber if all the property taz revenues from tbe
Project Area bad been allocated to all the affected
tazing agencies without regard to the division of
tazes required by Healtb and Safety Code Section
33670; (ii) violate tbe eZPenditure limitation under
ArtiCle %IIIB of the California Conatitution of sucb
entity; or (iii) ~ contrary to an order of a court of
competent jurisdiction or contrary to any provision of
tbe laws of tbe State of California.
SectJon 4.
All amounts payable to the District purauant to this
Agreement shall be beld ift a segregated account maintained by
the Agency and 'han be appUed by District for tbe
Con.truction~ rebabl1itatio~, or ezpansion of scbool buildings
of the District wbich directly serve residents of tbe Project
Area and for such other capital improvements as to which Agency
may give its written consent.
Section 5.
A.
The District represents that it has not nor shall it
adopt a resolution electing to receive revenues
pursuant to Health and Safety Code Section 33676(a)(2)
in connection with tbe Project. If such a re~~lution
is approved, District agrees to and shall, prior to
receipt Df payments pursuant to this Agreement,
rescind sucb resolution.
In tbe event tbat the District receives payment of
funds referred to in this Agreement directly from tbe
County Auditor-Controller, tbe Agency shall be
entitled to offset payments due and payable to the
District by any amOunt of funds the District has
received directly from the County Auditor-Controller.
SecUon 6.
B.
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District bas received all notices, written or publisbed,
tbat it is required by tbe Community aedevelopment Law to
receive during tbe process leading to tbe adoption of tbe
aedevelopment Plan a~d hereby waivea any and all legal rights
it may have to contest said Plan due to a failure to riCeive
any statutorily required noUce. The District agrees and
covenants that it aball not file or participate in oppoaition
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0078u'260UOll
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to tbe Agency in any lawsuit .tt.cking or otb.rwise questioning
tbe v.lidity of th. Redev.lopm.nt Pl.n..ny statement of
ind.bt.dn.ss consiatent witb tbis Aor....nt. or any of the
findings or det.rminations .ade by Agency or tbe Common Council
of the City in conn.ction witb such Redev.lopment Plan.
Section 7.
This Agr.ement supers.des any agreements or discussions
between tbe Ag.ncy and District regarding the matt.rs set forth
herein. and constitutes the entire .or....nt betw.en tbe Agency
and District with respect to the matt.rs .et forth herein. and
any chlnges; modific.tions or am.ndments ther.to shall be
legally binding and effectiv.only upon dUly .zecuted written
amendment bereto.
Section 8.
This Agreement .hall become effective the date last
ezecuted below and .ball continue in effect until Ag.ncy is
de.ctiv.ted pursu.nt to Section 33141 of the California Health
and Safety Code or it. succe..ors; provided tbat tbis Agreement
shaU terminate automatic.lly and beot no furtber force or
.ffect in tbe event that the Redevelopment Plan for the Project
is not adopted on or before December 31. 1991. or in the event
tbe .doption of tbe Proj.ct should be set .side or annulled as
a result of litigation.
IN WITNESS WHEREOF. the parties ber.to have .zecuted
tbi. Agr....nt on the day and year first above written.
Dated:
Auoust 11, 1990
DISTRICT
By.
Dated:
COMMUJfI'lY DEVEL HENT COMMISSION
OF '1'HE eI'lY OF SAN BERNARDINO
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By:
Ciiilrman
Approved a. to Form:
061'031'90
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8.
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ImBZf I
COLTON JOINT UNIFIEi SCHOOL DISTRICT
w.au1at!~aft ft~ I'lb1:r ~ ParotWil
PerCIDtlve of the -frozen ba..- tax revenue
all00atedto tbeDbtdot punuant to Health
and SUet)' Code .ection 331570(a)
· O.lfon
pen:entave applied to (A.) to detvatu the
J)t.uiOi: Ponlon, pur.uant to 8ection l(f)
of the avnaent. .
· lot
District Portion (1.) x (I.)
· 0.472321.
J'o~ .:II;.,.,1e PQ'pO.e. only. The Di.u1ot Portion wl1l M
uaed to oaloulete the aot1l&1 IIhai'e of tax 1nonaat
reoe1ve4by the Dbtdot, it anI', punuant to the ten.
of the Aqr,aent.
~...
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. Redevelopment Agency · City of San Bernardino
'~HaIIIa "J)" &...I. FaanhFloor . s.a__...... f:>IItMRlo 92418
(714) 384-5081 FAX (714) ....11413
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AUGUST 20. 1990
CENTRAL CITY PROMENADE INDUSTRIAL DEVELOPMENT
REVENUE BONDS. SERIES 1984A EXTENSION OF DUE DATE
SvnoDsis.of PrevIous CommIssIon/CouncIl/Committee Action:
12-17-84 Mayor and common CouncIl approved ResolutIon 84-547 providing for
the issuance of IndustrIal Development Revenue Bonds. SerIes 1984A.
Central City Promenade Project.
11-30-89 CommunIty Development CommissIon approved Amendment Number One to
the Loan Agreement and Supplement Number One to the Indenture.
02-19-90 Community Development CommIssion approved Amendment Number Two to
the Loan Agreement and Supplement Number Two to the Indenture.
Recommended MotIon:
(MAYOR AND COMMON COUNCIL)
(A) To adopt RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING THE EXECUTION OF AMENDMENT NO. THREE TO
THE LOAN AGREEMENT REGARDING CENTRAL CITY PROMENADE.
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(B) To adopt RESOLUTION OF THE MAYOR.AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING THE EXECUTION OF SUPPLEMENTAL NO. THREE
TO THE INDENTURE RELATING TO CENTRAL CITY PROMENADE.
Respectfully SubmItted.
ctlng Executive Director
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Supporting data attached: Yes
Funding requirements: NA
CommIssion Notes:
Ward:
Project: lOB
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1173A
Agenda of: AUGust 23. 1990
Item No.:
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S T A F F R E P 0 R T
On December 17, 1984, the Mayor and Common Council approved Resolution 84-547
providing for the Issuance of Industrial Development Revenue Bonds, Series
1984A, Central City Promenade Project, along with approving the Trust
Indenture, the Loan Agreement, the Bond Purchase Agreement and other related
documents.
In December 1984, the Central City Promenade Bonds were Issued In the amount
of $7,200,000 with a maturity date of December I, 20?4 to assist the
Best/Marshall development. Chase Manhattan Bank, the sole purChaser of the
Bonds, exercised Its right to cause a mandatory redemption of the Bonds on
December 1, 1989, pursuant to Section 3.01 (d) of the Trust Indenture dated
December 15, 1984.
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On November 7, 1989, Mr. Arlen Gunner, the attorney for Central City
Promenade, contacted Stradling, Yocca, Carlson and Rauth, at that time, the
Agency'S Special Counsel, and stated that Chase Manhattan Bank was willing to
extend the due date on the Bonds past the mandatory redemption date of
December I, 1989. Mr. Gunner also believed that the City need not be a part
of this extension, but the opiniOn of the Agency's Special Counsel was that
the City must approve changes to the Trust Indenture and amend the Loan
Agreement. Late on November 20, 1989, the Agency's Special Counsel Informed
staff that to extend the due date on the Bonds, a City Council action must
take place prior to December 1, 1989.
On November 30, 1989, Amendment Number One to the Loan Agreem~nt and
Supplement Number One to the Indenture extending the December 1, 1989 date to
February I, 1990 to pro~lde Central City Promenade the necessary time to
discuss, negotiate and further amend the Loan Agreement were approved by the
Commission.
On February 19, 1990, Amendment Number Two to the Loan Agreement and
Supplement Number Two to the Indenture were approved by the Commission
extended the February I, 1990 date to September I, 1990.
Central City Promenade Is now seeking approval of Ame~dment Number Three to
the Loan Agreement and approval of Supplement Number Three to the Indenture to
extend the Loan Agreement to March I, 1991 to provide additional time to
negotiate with Chase Manhattan Bank.
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S T A F F R E P 0 R T
Currently, Schurgln Development Corporation Is In default on one note payable
to the Redevelopment Agency and payments are scheduled to begin on the second
note on September 16, 1990. No payments have been received on the first note
and Schurgln has asked for an extension of time. The terms on these notes are
as follows:
Amount $150,000 $540,000
Date of Note March 19, 1985 September 16, 1985
Interest Rate 107. 1O'L
Payments Start April 5, 1990 September 16, 1990
Monthly Payment $1,611. 91 $5,802.88
A 11 Due April 5. 1995 September 16, 1995
Additionally, no Interest accrued for the first two years and Interest accrued
for years three through five at the rate of 1O'L to be paid upon the maturity
date.
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COONCIL OF '!'HE CITY OF
SAN BERNARDINO AUTHORIZING THE EXECUTION OF AMENDMENT NO. THREE
TO THE LOAN AGREEMEtrt' REGARDING CENTRAL crn PROMENADE.
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NOW. THEREFORE. BE 1'1' RESOLVED BY THE MAYOR AND eoMMON
COUNCIL OF THE CITY OF SAN BERNAtU>INO AS FOLLOWS:
SECTION 1.
The Mayor and Common Council of the City of
San Bernardino is hereby authorized and directed to execute
Amendment No. Three to the Loan Agreement between the City of
San Bernardino and Central City Prome~ade. in the form of a
copy of said Amendment attached hereto as Exhibit "An.
SECTION 2.
Said Amendment shall not take effect until
fully signed and executed by all parties. The City shall not
be obligated hereunder unless and until the Amendment is fully
executed and no oral agreement relating thereto shall be
implied or authorized.
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SECTION 3.
This resolution is rescinded if the parties
to the Amendment fail to execute it within sixty (60) days of
the passage of this resolution.
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0688u/2266/03
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING THE UECUTION OF AMENDMENT NO. THREE
TO THE LOAN AGREEMENT REGARDING CENTRAL CITY PROMENADE.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and C01llllon Council of the City of San
Bernardino at a regular meeting thereof, held on the 20th day
of August, 1990, by the following vote, to wit:
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Council Members:
ESTRADA
REILLY
FLORES
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
m!
NAYS
ABSTAIN
City Clerk
of
W. R. Holcomb, Mayor
City of San Bernardino
"
Approved as to
form and legal content:
o
JAMES F. PENMAN,
City Attorney
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0688u/2266/03
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AMENDMENT NO. THREE '1'0 THE LOAN AGREEMENT
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~his Amendment No. ~hree to the Loan Aqreement, as amended.
dated as of December 15, 1984 between the City of San
Bernardino, a chartered city duly orqanized and existinq under
the Constitution of the State of California and its City
Charter (the "I..uer") and Central City Promenade, a California
limited partnership (the "Company") (the "Loan Aqreement") is
made and .entered into as of Auqust 24, 1990 between the Issuer
and the Company, with the consent of Trust Services of America,
Inc., a California corporation (the "Trustee") and The Chase
Manhattan lank, N.A. (the "Purchaser") (the "Amendment").
Capitalized terms uledin this Amendment and not otherwise
defined Ihall have the same meaninq as in the Loan Aqreement.
WIT N E SSE T H:
. WHEREAS, Section 9.06 of the Loan Aqreement provides that
the Issuer and the Company may amend the Loan Aqreement with
the consent of the Trustee; and
WHEREAS, Section 1202 of the Trult Indenture dated as of
December 15, 1984 between the Ilsuer and the Trustee (the
"Indenture") provides that "neither the Issuer nor the Trustee
shall consent to any . . . amendment of the Loan Aqreement
. . . without publication of notice and mailinq and the written
approval or consent of the Holders and Owners of not less than
one hundred percent (100\) in aqqreqate principal amount of the
Bonds. . ."; and
WHEREAS, the Purchaser is the "Holder or Owner of every
Bond"; and
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WHEREAS, the Purchaser's consent to this Amendment as
indicated by its execution of this Amendment is sufficient to
meet the consent and notice reqUirements of Section 1202 of the
Indenture; and
WHEREAS, Section 6.03(c) of the Loan Aqreement provides ~
that "prior to the Conversion Date. the Note is subject to ..
Mandatory Prepayment, in Whole, on September 1, 1990 . . .
unless the Purchaser has qiven notice in writinq evidencinq its
waiver of such redemption at least forty-five (45) days, but no
more than sixty (60) days, prior to such Redemption Date to the
Issuer, the Trustee and the Company"; and
WHEREAS, the Company and the Purchaser desire to amend
Section 6.03(c) of the Loan Aqreoment to provide the necessary
time to amend possibly further the Loan Aqreement.
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NOW, ~, in consideration of th~tual covenants
and undertaking set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which hereby are
acknowledged, the Issuer and the Company hereby agree as
follows:
1. Section 6.03(c) of the Loan Agreement is amended and
restated as follows:
"(c) Mandatorv frepavment U2Qn Demand of
Purchaser. Prior to the Conversion Date, the
Note is subject to mandatory prepayment, in
whole, on March 1, 1991, and on each fifth
December 1 thereafter until maturity, at a
price equal to the principal amount of
OUtstanding Bonds plus accrued interest to the
date Of. prepayme. nt, without premium, unless
the Purchaser shall have given notice in
writing evidencing its waiver of such
redemption at least forty-five (.5) days, but
not more than sixty (60) days, prior to each
such Redemption Date to the Issuer, the
Trustee and the Company."
2. This Amendment may be executed in several
counterparts, each of which shall be an oriqinal and all of
which shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to the Loan Agreement to be executed on their behalf
by their duly authorized officers, and, if applicable, their
corporate seal to be affixed and duly attested all as of this
2.th day of August, 1990.
CITY OF SAN BERNARDINO
By:
Its: Mayor
ATTEST:
By:
Its: City Clerk
APPROVED AS TO FORM
mD LEGAL CONTENT.
James F. Penman,
City orney
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An'EST:
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By:
Its: Assistant Secretary
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CENTRAL CITr PROMENADE a
C~lifornia limited tnership
By:
. By:
CONSENT OP 'lRUSTEE AS. REQUIRED
BY SECTION 9.06 OF 1'HE LOAN
AGUEMBNT:
'lRUST SERVICES OF AMERICA, INC.
By:
It.: Authorized Repre.entative
0685u/2266/03
CONSmr.r OP 1'HE HOLDER OP EACH
BONJ) AS :iBQuIREJ) BY SECTION 1202
OF THE INDJ!:RTUd:
THE CHASE JllANHATTAN BANK, N. A.
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By:
It.: Authorized Representative
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ATTEST:
By:
Its: Assistant Secretary
0,aSU/22fi6/03
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CENTRAL CITY PROMENADE. a
California limited partnership
By:
Mart Shurqin.
General Partner
By:
Rosilan4 Jonas Shurqin.
General Partner
CONSEN'l' OF 1'Rt1S'l'EE AS REQUIRED
BY SECTION 9.01 OF THE LOAH
AOREEMEHT :
TRUST SERVICES OF AMERICA. INC.
By:
Its: Authorized Representative
CONSEft OF THE HOLDER OF EACH
BONn AS REQUIRED BY SECTION 1202
OF THE IIIDIN'1'UR!:: .
- -.. --;:a"
. .~~: Aor~!R.presentat1v.
~al'''1 ~. t;c,Lt"""..c#.t1 tll'
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ATTEST:
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06851.1/2266/03
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. c:iimw. CIn :rROMERADE. a
. California limited partnerahip
By: .
Mark Shurgin.
General Partner
sy:
RoaUand Jon.. Sh\i'iiln.
General Partner
CONSENT OF TROSTEl!: AS UQUIRED
BY SECTIoN t.06 OF THE LOAN
A~:
TRUST SERVICES OF AMERICA. INC.
By:'~~~
It. : u or z epreaentat ve
CONSENT OF THE HOLDER OF EACH
BONn AS REQUIRED BY SECTION 1202
OF THE INDEN'l'URE:
THE CHASE MANHATTAN .BANK. No.A.
"
By:
IU: Authoriaed Representative
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COONCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING THE EXEcuTION. OF SUPPLEMEN'l' NO.
THREE TO THE INDENTUR! .RELATING TO CENTRAL CITY PROMENADE.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON
COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
SECTION 1.
The Mayor of the City of San Bernardino is
hereby authorized and directed to execute Supplement No. Three
to the Indenture between the City of San Bernardino and Trust
Services of America, Inc., in the form of a copy of said
Supplement attached hereto as Exhibit "A".
SECTION 2.
Said Supplement shall not take effect until
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fully signed and executed by all parties. The City shall not
be obligated hereunder unless and until the Supplement is fully
executed and no oral agreement relating thereto shall be
implied or authorized.
SECTION 3.
This resolution is rescinded if the parties
to the Supplement fail to execute it within Sixty (60) days of
the passage of this resolution.
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0688u/2266/03
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CI'l'Y OF
SAN BERNARPINO AUTHORIZING THE EXECUTION OF AMENDMENT NO. 'rHREE
TO THE INDENTURE RELATING TO CEN'l'RAL CI'l'Y PROMENADE.
I HEREBY CERTIFY that the foreqoinq resolution was duly
adopted by the Mayor and COIIIl1on Council of the City of San
Bernardino at a reqular meetinq thereof, held on the 20th day
of Auqust, 1990, by the followinq vote, to wit:
Council Members:
AYES
NAYS
ABSTAIN
o
ESTRADA
REILLY
FLORES
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
City Clerk
of
The foreqoinq resolution is hereby approved this day
, 1990.
W. R. Holcomb, Mayor
City of San Bernardino
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Approved as to
form and leqal content:
JAMES F. PENMAN,
City Attorney
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06BBu/2266/03
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stOLEMENT NO. THREE TO THE I~
This Supplement No. Three to the Trust Indenture, as
supplemented, dated as of December 15, 1984 between the City of
San Bernardino, a chartered city duly organized and existing
under the Constitution of the State of California and its City
Charter ( the " Issuer") and Trust Services of America, Inc., a
California corporation (the "Trustee") (the "Indenture") is
made .and entered into as of August 24, 1990 between the Issuer
and the Trustee, with the consent of The Chase Manhattan Bank,
N.A. (the "Purchaser") and Central City Promenade, a California
limited partnership (the "company") (the "Supplement").
Capitalized terms used in this Supplement and not otherwise
defined shall have the same meaning as in the Indenture.
WIT N E SSE T H:
NHEREAS, Section 1102 of the Indenture provides that the
;Issuer and the Trustee may supplement the Indenture "as shall
be d.emed necessary and desirable by the Issuer or the Trustee
. for the purpose of modifying, altering, amending, adding to or
rescinding, in any particular, any of the terms or provisions
contained .. .[therein] or in any supplemental indenture;
provided, however, that nothing contained in
. . . Section [1102] shall permit, or be construed as
permitting, without the consent of the Holder or Owner of every
bond, (i) an extension of the maturity of the principal of or
the interest thereon or of any redemption dates from the Bond
Fund . . ."; and
NHEREAS, the Purchaser is the "Holder or Owner of every
Bond"; and
NHEREAS, the Trustee or Issuer has deemed it "necessary and
desirable" to modify the Indenture; and
NHEREAS, Section 1102 of the Indenture provides further
that "a supplemental indenture .. . which affects the rights
of the Company shall not become effective unless and until the
Company shall have consented to the adoption of such
supplemental indenture"; and
NHEREAS, this Supplement "affects the rights of the
Company"; and .
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NHEREAS, Section 301(d) of the Indenture provides that
"prior to the Conversion Date, the Bonds are subject to
mandatory redemption, in whole, on September 1, 1990 . . .
unless the Purchaser shall have given notice in writing to the
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Issuer, the Trustee and the Company, stating that such
redemption shall be waived, at least forty-five (45) but no
more than sixty (60) days prior to each such redemption date";
and
WHEREAS, the Purchaser and the Company desire to further
amend Section 301(d) of the Indenture to provide the necessary
time to supplement possibly further the Indenture.
NOW, THEREFORE, in consideration of the mutual covenants
and undertaking set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which hereby are
acknowledged, the Issuer and the Trustee hereby agree as
follows:
1. Section 301(d) of the Indenture is amended and
restated as follows:
"(d) Redemption UPon Demand Of
Purchaser. Prior to the Conversion Date, the
Bon4s are subject to mandatory redemption, in
whole, on March 1, 1991, and on each fifth
December 1 thereafter until maturity, at a
price equal to the principal amount of
Outstanding Bonds plus accrued interest to the
Redelllption Date, without premium, unless the
Purchaser shall have given notice in writing
to the Issuer, the Trustee and the Company,
stating that such redemption shall be waived,
at least forty-five (45) but no more than
sixty (60) days prior to each such redemption
date."
2. This Supplement may be executed in seve"al
counterparts, each of which shall be an original and all of
which shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this
Supplement to the Indenture to be executed on their behalf by
their duly authorized officers, and, if applicable, their
corporate seal to be affixed and duly attested all as of this
24th day of August, 1990.
By:
Its: Ci ty Clerk
0684u/2266/03
ATTEST:
CITY OF SAN ~ERNARDINO
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By:
Its: Mayor
APPROVED AS TO FORM
AND LEGAL CONTENT.
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ATTEST:
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By:
It.: Assistant Secretary
06lCu/2266/03
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DDs'l' SERVICES OF AMERICA, INC.
By:
Its: Authori.ed Representative
CONSEN'l' OF THE HOLDER OF EACH
BOND AS REQUIRED BY SECTION 1102
OF THE IHDJ!:N'1'DD:
THE CHASE MANHATTAN BARK, N. A.
By:
Its: ut o.e pre.eotat .ve
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COHSEN'l' OF THE COMPANY AS
REQUIRED BY SECTION 1102 OF THE
IHDEtII.ualS :
,.;u..l~ CITY PROMENADE, a
California limited partnership
By:
By:
.oslland Jonas Shurqln,
General Partner .,
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068Cu/2266/03
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'1'RU8'1' SERVICES OF MERICA. IRe.
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CONSEN'l' OF '!'HE HOLDER OF EACH
BOND AS REQUIRED BY SEC'l'ION 1102
OF '!'HE IHDEN'l'ORB:
'!'HE CHASE MANHA'1"1'AN BANK. If. A.
By:
Its: Authorlaed Representative
CONSEN'l' OF '!'HE COMPANY AS
REQUIRED BY SEC'l'ION 1102 OF '!'HE
INnEN'1'tJRE :
~ CI'l'Y PROMENADE. a
California limited partnership
By:
Mark lhur91n.
General Partner
By:
iOilland Jona. Shur91n,
General Partner
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CITY. OF SAN BERNARDINO
INDUSTRIAL DEVELOPMENT REVENUE BONDS,
SERIES 1984A (CENTRAL CITY PROMENADE PROJECT)
CERTIFICATE OF THE COMPANY
The undersigned as the sole qenera1 partners of Central
City Promenade, a California limited partnership (the
"Company") hereby certifies that the Company has complied in
all material respects as of the date hereof with the terms and
conditions of the Indenture, as supplemented, the Loan
Aqreement,as amended and the Requ1atory Aqreement, as amended,
and no event of default thereunder has been declared as of the
date hereof . All capit.1bed terms used herein and not
otherwise defined shall have the meaninq qiven them in the
Indenture re1atinq to the above-referenced financinq.
Dated: Auqust 24, 1990
CENTRAL CITY PROMENADE, a
California limited partnership
By:
Mark A. Schurqin
General Partner
By:
Rosalind Jonas Schurqin
General Partner
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0686U/2266/03
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AT'l'EST:
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By:
Ita: Assistant Secretary
06a6u/2266/03
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DUST SERVICES OF AMERICA. INC;
By:
Its: Authorized Representative
CONSER'l' OF mE HOLDER OF EACH
BOND ASbQtJIRBD8Y SECTION 1102
or mE INDENTURE:
mE CHASE JIIUHA'1"1'AN BANK. N .A.
By:
Ita: Authorized Repre.entative
CONSER'l' OF mE COMPANY AS
. REQUIRED BY SECTION 1102 OF mE
INDENTURE :
CENTRAL CIft PROMENADE. a
California 1im tad artnership
By:
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By:
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