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CI. OF SAN BERNARDIe:>> - REQU. FOR COUNCIL AC~N
From:
Craig A. Graves
City Treasurer
City Treasurer
Subject: Certificate of Participation for
Fire Station and Equipment
Dept:
D~~ June 30, 1986
Synopsis of Previous Council action:
December 16, 1985 - Mayor and Common Council directed the City
Administrator and City Treasurer to develop a financing plan for a
new fire station, fire equipment, computer dispatch system and a
new telephone system.
January 8, 1986 - Mayor and Common Council authorized the selection
of a consultant to develop an RFP for a telephone system for City
Hall.
March 17, 1986 - Mayor and Common Council approved assessment
district for construction of fire station and acquisition of fire
equipment.
SEE ATTACHED SHEET FOR CONTINUATION
Recommended motion:
ADOPT RESOLUTIONS
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Contact person: Craiq A. Graves
Phone: 5221
Supporting data attached: ---uNDER SEPARATF. COVER
Ward: Third and First
FUNDING REQUIREMENTS:
Amount: $2,875,000
Source: Assessment District and
General fund startinq in FY 87-88
NO FUNDING REQUIRED FOR FY 87-88
Finance:
Council Notes:
75-0262
Agenda Item N'8! ~l
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SYNOPSIS OF PREVIOUS COUNCIL ACTION CONTINUED:
April 21, 1986 - Mayor and Common Council approved contract
for computer aided dispatch system.
May 5, 1986 - Approved contract for arcitect on new fire
station.
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CI. OF SAN BERNARD. - REQU.... FOR COUNCIL AcibN
STAFF REPORT
Attached are the documents included for the, Certificates
of Participation that will finance the new Fire ~tation in the
Tri-City area. The certificates will be for $2,875,000.00.
They will allow for the construction of the fire station,
acquisition of a fire engine and paramedic squad, the acquisition
of the computer-aided dispatch and fire alert system and the new
telephone system for City Hall. The certificates have been
structured so there will be no impact on the budget for FY 86-87.
Presently, the Architect has been hired and is working on
the plans for the station. The Redevelopment Agency is in
the final phase of procuring the land for the City. The computer
aided dispatch system has had the vendor and contract approved
with the vendor in the system design phase. Installation of
equipment should begin shortly. The telephone system configura-
tion is presently being worked on.
The Redevelopment Agency will act as owners of the projects
and will authorize the City to be it's agent. At the end of ten
years, the City will take ownership over all of the projects.
Attached are two resolutions that need to be approved.
The first resolution authorizes the execution of the various
agreements between the Agency, the City and Security Pacific
National Bank for the delivery, issuance and administration
of the Certificates. The second resolution authorizes providing
for the sale of the certificates including publication of notice
and official statements.
It is requested that this item be scheduled at 10:45, just
prior to the Redevelopment Agency's agenda, so Financial Consul-
tant and Bond Counsel may be present.
The opening of bids will take place the morning of July 28, 1986,
for presentation to the Mayor and Common Council in the early
afternoon.
75-0264
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF
THE CITY OF SAN BERNARDINO AUTHORIZING
EXECUTION AND DELIVERY BY THE CITY OF LEASE
AGREEMENT, TRUST AGREEMENT AND AGENCY
AGREEMENT WITH RESPECT TO THE ISSUANCE AND
SALE OF CERTIFICATES OF PARTICIPATION (CITY
OF SAN BERNARDINO 1986 PROJECTS), APPOINTING
TRUSTEE AND AUTHORIZING ISSUANCE OF SUCH
CERTIFICATES IN AN AMOUNT NOT TO EXCEED
$2,875,000
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WHEREAS, the Mayor and Common Council of the City of San
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Bernardino (the "City") have determined that it is in the best
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interests of the City and its citizens that the City participate
in the financing of the acquisition, construction and installation
of a fire station designated Park Centre Fire Station on certain
land to be acquired by the Redevelopment Agency of the. City of San
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Bernardino (the "Agency") through the execution and delivery by
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the Trustee hereinafter named of Certificates of Participation in
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a principal amount which shall not exceed $2,875,000 which will be
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designated Certificates of Participation (City of San Bernardino
1986 Projects) (the "Certificates"); and
WHEREAS,
in order to accomplish the acquisition,
construction and installation of said improvements and equipment
and the execution, delivery and sale of the Certificates, it is
necessary that the City enter into the Lease Agreement, the Trust
Agreement, the Ground Lease Agreement and the Agency Agreement,
hereinafter more particularly described, and that certain other
action be taken and authorized;
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE MAYOR
AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
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1. The agreements entitled "Lease Agreement," "Ground
Lease Agreement" and "Agency Agreement" to be entered into by and
between the City of San Bernardino and the Agency, dated as of
July 15,1986, which provide generally for (i) the construction
and installation of the Park Centre Fire Station and the
acquisi tion and installation of said equipment by the City, as
agent of the Agency, with the proceeds of the Certificates,
(ii) the leasing by the Agency to the City of the completed
improvements to the Park Centre Fire Station and the site where it
will be located, and said equipment, as. installed, and (iii) the
payment by the City to the Agency of Lease Payments in amounts
which will be sufficient to pay the principal and interest owing
on the Certificates in each year following the completion of the
acquisition, construction and installation of said improvements,
fire station and equipment, are hereby approved, and the Mayor and
City Clerk, are hereby authorized to execute, acknowledge and
deliver said agreements on behalf of the City.
2. The agreement entitled "Trust Agreement" to be
entered into by and among the City, the Agency and Security
Pacific National Bank, as Trustee (the "Trustee"), dated as of
July 15, 1986, which provides generally for (i) the execution and
delivery by the Trustee of the Certificates, (ii) the
establishment and maintenance by the Trustee of certain funds for
the benefit of the City and the owners of the Certificates, and
(iii) the performance of other duties by the Trustee, is hereby
approved and the Mayor and City Clerk are hereby authorized to
execute, acknowledge and deliver said agreement on behalf of the
City.
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3. The agreement entitled "Assignment Agreement" to be
entered into by and between the Agency and the Trustee, dated as
of July 15, 1986, which provides for the assignment by the Agency
to the Trustee of all the Agency's rights under the Lease
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17 Trust Agreement is hereby approved, and Security Pacific National
18 Bank, as Trustee, is hereby authorized to execute and deliver the
19 Certificates in an aggregate principal amount which shall not
20 exceed $2,875,000, subject to an award of the sale thereof by this
21 City Council, and to apply and expend the proceeds thereof as
22 specified in the Trust Agreement; provided that the Financial
23 Consultant and City Treasurer are hereby authorized to determine
24 the final aggregate principal amount of the Certificates to be
25 executed and delivered based on their determination of the amount
26 needed to finance the cost of the acquisition of the real property
27 and improvements to be acquired, the cost of the construction of
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Agreement, is hereby approved.
4. The approval of said agreements given hereby shall
apply to any modification or amendment of any of said agreements
which is specified and approved by Special Counsel to the City and
the City Treasurer as being necessary to carry out the provisions
thereof and the authorizations contained in this resolution and
approved as to form by the City Attorney.
5. Security Pacific National Bank is hereby appointed
as Trustee pursuant to the Trust Agreement, to take any and all
action provided therein to be taken by the Trustee, and is further
designated and appointed as paying agent for the Certificates.
6. The form of the Certificates as set forth in the
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installation of said equipment.
7. The Mayor, City Clerk, City Treasurer or any other
authorized staff member or authorized public official are hereby
authorized to take any and all action which is directed by Special
Counsel to the City with respect to the execution, acknowledgement
and delivery of the aforementioned agreements and the execution,
delivery and sale of the Certificates, including but not limited
to purchasing municipal bond insurance, which in the opinion of
said Special Counsel is necessary in order for the authorizations
and direction provided in this resolution to be carried out.
8. This Resolution shall take effect upon 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 , 1986, by the following vote, to wit:
AYES:
Council Members
NAYS:
ABSENT:
City Clerk
The foregoing resolution is hereby approved this ____ day
of , 1986.
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1 Mayor of the City of
San Bernardino
2 Approved as to form:
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4 City Attorney
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STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO
CITY OF SAN BERNARDINO
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I, SHAUNA CLARK, City Clerk in and for the Ci ty of San
Bernardino, DO HEREBY CERTIFY that the foregoing and attached copy
of San Bernardino City Resolution No.
is a full, true and
7 correct copy of that now on file in this office.
8 IN WITNESS WHEREOF, I have hereunto set my hand and
9 affixed the off icial seal of the City of San Bernardino this
10 day of , 1986.
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12 City Clerk
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EB0270