HomeMy WebLinkAboutAD 05-1 Notice of Listed Event77056264
NOTICE OF LISTED EVENT
OF
CITY OF BAKERSFIELD, CALIFORNIA
Dated: September 5, 2014
Providing Continuing Disclosure
Relating to the
$15,595,000
City of Bakersfield
Assessment District No. 05-1
(City in the Hills)
Limited Obligation Improvement Bonds
Contact Information:
City of Bakersfield
1600 Truxtun Avenue
Bakersfield California 93301
Attention: Nelson K. Smith, Finance Director
Telephone: (661) 326~3740
Fax (661) 852-2040
E-mail: nsmith@bakersfieldcity.us
INTRODUCTORY STATEMENT
This Notice of Listed Event (the "Notice") is being provided by the City of Bakersfield, California (the
··City''), pursuant to the City Continuing Disclosure Certificate, dated December 21, 2005 (the
"Continuing Disclosure Certificate''), executed by the City, relating to the bonds referenced on the cover
page hereof (the "Bonds"). Capitalized terms used herein and not otherwise defined shall have the
meanings ascribed to them in the Continuing Disclosure Ce1iificate or the Official Statement, dated
December 7, 2005, relating to the Bonds.
CUSIP NUMBERS
The following CUSIP numbers have been assigned to the outstanding Bonds by Standard & Poor's
CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc., and are provided for
convemence of reference only. The City does not assume any responsibility for the accuracy of these
cusrP data.
77056264
Maturity Date
(September 2)
20!5
2016
2017
2018
2019
057510 C49
057510 C56
057510 C64
057510 C72
Maturity Date
(September 2)
2020
2021
2022
2025
CUSIP 01 No.
0575! 0 C80
057510 C98
057510 D22
057510 D55
[I) CUSIP~ '"·;,. rch~"cred trademark of tho American !Jan kern Assocmttan Copyr1ghti' 1999-2011 Amcnc"n Ban,er'
Aosocmtion All rights reserved CUS1P1< data arc provtded by CUSH' Global Scrv1ccs, managed by Stâ˘mdard & Poor;
Fmanc1al Scn.oces LLC on behalf oft he Amcncan Bankers ,\;,<ocmtlon These data are not mtended to creMe a dutaba'e and
do not <en.e m <my "'"~ as a subsltlutc for CUSIP Global Sc"''""' CUSJP~ numbers m-e pw,,dcd for convemcncc of
reference only The C1ty takus no resp!lns!blhly fm the accuracy of such numbers
[Remainder of Page Intentionally Left Blank.]
REPORTING OF LISTED EVENT
In accordance w ith Section 5(a)(viii) of the Continuing Disclosure Certificate, the C ity hereby provid es
notice of the occurrence of the following Listed Event with respect to the Bonds:
On September 2, 2014, an unscheduled draw on the Special Reserve Fund for
$1 04,014.49 was made to pay a portion of the September 2, 201 4, debt service payment
on the Bonds. As of the date of this notice, fol lowing such draw, the balance on deposit in
the Special Reserve Fund is $1,205,480.51 , wh ich is $104,014.49 less than the current
Reserve Requi re ment of $1 ,309,495.00. The unscheduled draw on the Special Reserve
Fund was necessitated by the failure of certain landowners within the District to pay
when due the Special Assessments applicable to such landowners' District property. The
City has initiated foreclosure proceedings for all delinquent assessment installments in
accordance with the terms of the Bond Resolution.
This Notice is being fil ed with the Electronic Municipal Market Access ("EMMA") fi ling service
maintained by the Munic ipal Securities Rulemaking Board.
Dated: September 5, 2014 CITY OF BAKERSFIELD, CALIFORN lA
By: ~~
Nelson K. Smith
Finance Director
77056264 2