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HomeMy WebLinkAbout21- Water Department CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION From: Bernard C. Kersey Subject: Establishing Fiscal Year 1998/99 Assessment of $14,300.00 for Parcels Water Department within the Previous Boundaries of Dept: COPY the South San Bernadino County Date: May 4, 1998 Water District Synopsis of Previous Council action: None MAY CJ 5 199 ; Recommended motion: Adopt Resolution Signature Contact person: Neil Thomsen Phone: 384-5093 Supporting data attached: Yes Ward: First FUNDING REQUIREMENTS: Amount: N/A Source: (Acct No.) (Acct Description) Finance: Council Notes: ,5-0262 Agenda Item No. Oil CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION STAFF REPORT South San Bernardino County Water District (District) merged with the City of San Bernardino effective August 1, 1991 . The terms and conditions of the merger were approved by the Board of Directors of South San Bernardino Water District, the Board of Water Commissioners, the Mayor and Common Council, and the Local Agency Formation Commission. The Board of Supervisors, County of San Bernardino, as conducting authority, approved the merger on July 15, 1991 . A condition of the merger stipulated that the City of San Bernardino would be the successor agency within the jurisdiction of the Board of Water Commissioners; with the successor agency assuming all- rights, responsibilities, properties, equipments, contracts, assets and liabilities, and functions of the South San Bernardino County Water District . The District issued and sold Series "C" Waterworks Bonds in the amount of $150 , 000 . 00 in 1988, pursuant to a 1958 vote of the people of the district, to incur bonded indebtedness of $400, 000 . 00 for the purchase of certain improvements of the District . The amount of the assessment for all assessable parcels within the boundaries of the previous South San Bernardino County Water District for the 1998/99 Fiscal year has been determined to be $9, 300 . 00 in interest and $5, 000 . 00 in principal, totaling $14 , 300 . 00 . The City of San Bernardino is the successor agency to South San Bernardino County Water District; and the Board of Water Commissioners has approved the assessment on May 19, 1998, and recommends that the Mayor and Common Council adopt the attached Resolution. 1 RESOLUTION NO. 2 A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, SUCCESSOR TO THE SOUTH SAN BERNARDINO COUNTY WATER 3 DISTRICT, ASSESSING PROPERTIES WITHIN THE PREVIOUS DISTRICT BOUNDARIES IN THE AMOUNT OF $14, 300 . 00 FOR THE FISCAL YEAR 1998/99 . 4 5 WHEREAS, the people of the South . San Bernardino County Water 6 District voted in 1958 to incur a bond indebtedness of $400, 000 . 00 7 for the purchase of certain improvements of the District; and 8 WHEREAS, the District has issued and sold Series "C" 9 Waterworks Bonds in the amount of $150, 000 . 00 ; and 10 WHEREAS, the District, pursuant to the Cortese/Knox Local 11 Government Reorganization Act (Government Code Section 5600) , 12 merged with the City of San Bernardino effective August 1, 1991; 13 and 14 WHEREAS, a condition of the merger includes that the City of 15 San Bernardino shall be the successor agency within the 16 jurisdiction of the Board of Water Commissioners; with the 17 successor agency assuming all rights, responsibilities, properties, 18 equipment, contracts assets and liabilities, and functions of the 19 South San Bernardino County Water District; and 20 WHEREAS, the City of San Bernardino requires the total sum of 21 $14 , 300 . 00 for the principal and interest payment due during 22 1998/99 . 23 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL 24 OF THE CITY OF SAN BERNARDINO to assess all assessable parcels 25 within the boundaries of the previous South San Bernardino County 26 Water District the total amount of $14 , 300 . 00 for the 1998/99 27 Fiscal Year; to require the County of San Bernardino 28 Auditor/Controller to compute the tax rate, and to collect said sum 5/4/98 1 1 A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, SUCCESSOR TO THE SOUTH SAN BERNARDINO COUNTY WATER DISTRICT, ASSESSING PROPERTIES WITHIN THE PREVIOUS DISTRICT BOUNDARIES 2 IN THE AMOUNT OF $19,300.00 FOR THE FISCAL YEAR 1998/99. 3 through the County of San Bernardino Tax Collector. 4 I HEREBY CERTIFY that the foregoing resolution was duly 5 adopted by the Mayor and Common Council of the City of San 6 Bernardino at a meeting thereof, held 7 on the day of 1998 , 8 by the following vote to wit : 9 COUNCIL MEMBERS: AYES NAYES ABSTAIN ABSENT 10 ESTRADA 11 LIEN 12 ARIAS 13 SCHNETZ 14 DEVLIN 15 ANDERSON 16 MILLER 17 18 Rachel Clark, City Clerk 19 20 The foregoing resolution is hereby approved this 21 day of 1998 . 22 23 Judith Valles, Mayor City of San Bernardino 24 APPROVED AS TO FORM AND LEGAL CONTENT 25 26 JAMES F. PENMAN City At+orney 28 5/9/98 2 South San Bernardino Water District Issue Date: 03/01/88 1958 Waterworks Bonds: Series C 7.75% Interest Rate Debt Service Schedule Transfer to Sinking Fund Principal Principal Fiscal Cash Date Interest Sinking Fund Balance Redemption Balance Requirement 1 01 -SEP -88 $5,812.50 $150,000.00 2 01 -MAR-89 5,812.50 150,000.00 $11,625.00 3 01 -SEP -89 5,812.50 150'000.00 4 01 -MAR-90 5,812.50 150,000.00 11,625.00 5 01 -SEP -90 5,812.50 150'000.00 6 01 -MAR-91 5,812.50 150,000.00 11,625.00 7 Ot -SEP -91 5,812.50 150,000.00 8 01 -MAR-02 5,812.50 150,000.00 11,625.00 9 Ot -SEP -92 5,812.50 150'000.00 10 01 -MAR-03 5,812.50 $5,000.00 $5,000.00 * 150,000.00 11,625.00 11 01 -SEP -93 5,812.50 1�'�'� 12 01 -MAR-94 5,812.50 5,000.00 10,000.00 . 150,000.00 11,625.00 150,000.00 13 01 -SEP --94 5,812.50 00 135,000.00 26,625.00 14 01 -MAR-95 5,812.50 (10,000.00) 0.00 * 15,000. 135,000.00 15 01 -SEP -95 5,231.25 5,000.00 130,000.00 15,462.50 16 01 -MAR-96 5,231.25 130,000.00 17 01 -SEP -96 5,037.50 5,000.00 125,000.00 15,075.00 18 01 -MAR-97 5,037.50 125,000.00 19 01 -SEP -97 4,843.75 5,000.00 120,000.00 14,687.50 20 01 -MAR X98 4,843.7 5 120' 21 01 -SEP -98 4,650.00 000.00 22 01 -MAR X99 4,650.00 5,000.00 11.5,000.00 14,300.00 23 01 -SEP -99 4,456.25 115,000.00 5,000.00 110,000.00 13,912.50 24 Ol -MAR-00 4,456.25 110' 25 Ot -SEP -00 4,262.50 000.00 26 01 -MAR-01 4,262.50 5,000.00 105,000.00 13,525.00 27 01 -SEP -01 4,068.75 105,000.00 5,000.00 100,000.00 13,137.50 28 01 -MAR-02 4,068.75 100,000.00 29 01 -SEP -02 3,875.00 5,000.00 95,000.00 12,750.00 30 Ot -MAR-03 3,875.00 95,000.00 31 01 -SEP -03 3,681.25 5,000.00 90,000.00 12,362.50 32 Ot -MAR-04 3,681.25 90,000.00 33 01 -SEP -04 3,487.50 5,000.00 85,000.00 11,975.00 34 01 -MAR-0S 3,487.50 85,000.00 35 01 -SEP -05 3,293.75 10,000.00 75,000.00 16,587.50 36 01 -MAR-06 3,293.75 75,000.00 37 01 -SEP -06 2,906.25 10,000.00 65,000.00 15,812.50 38 01 -MAR-07 2,906.25 5,000.00 39 01 -SEP -07 2,518.75 5 40 01 -MAR-08 2,518.75 10,000.00 55,000.00 15,037.50 41 01 -SEP -08 2,131.25 $55,000.00 10,000.00 45,000.00 14,262.50 42 01 -MAR-09 2,131.25 45,000.00 43 01 -SEP -09 1,743.75 10,000.00 35,000.00 13,487.50 44 01 -MAR-10 1,743.75 35,000.00 45 01 -SEP -10 1,356.25 10,000.00 25,000.00 12,712.50 46 01 -MAR-11 1,356.25 25,000.00 47 01 -SEP -11 968.75 10,000.00 15,000.00 11,937.50 48 01 -MAR-12 968.75 15,000.00 49 01 -SEP -12 581.25 50 01 -MAR-13 581.25 15.000.00 0.00 16.162.50 Totals $199.562.50 $150.000-00 1349.562.50 * Due to misinterpretation of debt service requirements, mandatory bond redemption for 1993 and 1994 were not paid until March 1995;this schedule reflects actual payments to bond holders including bond redemption. <ub—bona>