HomeMy WebLinkAboutAD No. 07-2 Disclosure Report 2014-15
CITY OF BAKERSFIELD
LIMITED OBLIGATION IMPROVEMENT BONDS
ASSESSMENT DISTRICT NO. 07-2
(SYDNEY HARBOUR)
$4,825,000
ANNUAL CONTINUING DISCLOSURE REPORT
FISCAL YEAR ENDED JUNE 30, 2015
MARCH 21, 2016
LIMITED OBLIGATION IMPROVEMENT BONDS
MATURITY DATE CUSIP1
9/2/2028 057510K99
1 CUSIP® is a registered trademark of the American Bankers Association. CUSIP Service Bureau is managed by Standard & Poor’s, a
division of the McGraw-Hill Companies, Inc. This data is not intended to create a database and does not serve in any way as a substitute for
the CUSIP services. The issuer takes on responsibility for the accuracy of such numbers.
City Staff
Alan Tandy, City Manager
Nelson K. Smith, Finance Director
Sarah Hunley, Accountant
1600 Truxtun Avenue
Bakersfield, CA 93301
T. 661.326.3740
Disclosure Consultant & Dissemination Agent
Koppel & Gruber Public Finance
Scott Koppel/Lyn Gruber
334 Via Vera Cruz, Suite 256
San Marcos, CA 92078
T. 760.510.0290
F. 760.510.0288
Bond Counsel
Orrick, Herrington & Sutcliffe, LLP
405 Howard Street
San Francisco, CA 94105
T. 415.773.5626
Disclosure Counsel
Goodwin Procter LLP
Los Angeles, California
Fiscal Agent
U.S. Bank National Association
Corporate Trust Services
633 W. Fifth Street, 24th Floor
Los Angeles, CA 90071
T. 213.615.6005
TABLE OF CONTENTS
I. INTRODUCTION .................................................................................................... 1
II. ANNUAL REPORT REQUIREMENTS ......................................................................... 2
A. Audited Financial Statements: ........................................................................................ 2
B. Principal Outstanding: ........................................................................................................ 2
C. Fund Balances: ....................................................................................................................... 2
D. Reserve Fund Requirement:............................................................................................. 3
E. Delinquency History and Foreclosure Status: .......................................................... 3
F. Status of Completion of Public Improvements: ....................................................... 3
G. Bonds Priority of Liens: ..................................................................................................... 3
H. Reporting of Significant Events: ..................................................................................... 3
I. Value-to-Lien by Parcel: ..................................................................................................... 3
J. Debt Service Schedule: ....................................................................................................... 3
III. SIGNATURE ...................................................................................................... 4
APPENDIX A DELINQUENCY HISTORY AND FORECLOSURE STATUS .................................. 5
APPENDIX B VALUE-TO-LIEN BY PARCEL ................................................................... 6
APPENDIX C DEBT SERVICE SCHEDULE ........................................................................ 7
Annual Disclosure Report, FY Ended June 30, 2015
City of Bakersfield AD No. 07-2
Limited Obligation Improvement Bonds
1
I. INTRODUCTION
This Annual Continuing Disclosure Report (“Annual Report”) is being prepared and filed pursuant to the
Continuing Disclosure Certificate (“Disclosure Certificate”) executed and delivered by the City of
Bakersfield (the “City”) in connection with the issuance and delivery of the City Assessment District No. 07-
2 (Sydney Harbour) (the “District”) Limited Obligation Improvement Bonds (the “Bonds”).
Bond were issued pursuant to a resolution adopted by City Council on March 12, 2008, authorizing the
issuance of the Bonds, Resolution No. 042-08. The Bonds were issued on April 23, 2008 in the aggregate
principal amount of $4,825,000, the proceeds of which were used to finance (i) the acquisition of certain
public infrastructure improvements located within the boundaries of the Assessment District, which
improvements will be owned, operated, and maintained by the City (collectively, the “Improvements”), (ii)
the payment of certain incidental costs and expenses related to the acquisition of the Improvements, the
Assessment District proceedings, and the issuance of the Bonds, including the establishment of a Special
Reserve Fund for the Bonds and the funding of capitalized interest on the Bonds through September 2, 2008.
Annual Disclosure Report, FY Ended June 30, 2015
City of Bakersfield AD No. 07-2
Limited Obligation Improvement Bonds
2
II. ANNUAL REPORT REQUIREMENTS
The following information is provided pursuant to Sections 4 and 5 of the Disclosure Certificate.
A. Audited Financial Statements: A copy of the City’s Comprehensive Annual Financial
Report (“CAFR”) for the fiscal year ending June 30, 2015 has been filed separately with the
Electronic Municipal Market Access (“EMMA”).
THE CITY OF BAKERSFIELD’S ANNUAL FINANCIAL STATEMENT ARE PROVIDED
SOLELY TO COMPLY WITH THE SECURITIES EXCHANGE COMMISSION STAFF’S
INTERPRETATION OF RULE 15c2-12. NO FUNDS OR ASSETS OF THE CITY OF
BAKERSFIELD (OTHER THAN THE ASSESSMENTS LEVIED IN THE ASSESSMENT
DISTRICT) ARE REQUIRED TO BE USED TO PAY DEBT SERVICE ON THE BONDS,
AND THE CITY IS NOT OBLIGATED TO ADVANCE AVAILABLE FUNDS FROM THE
CITY TREASURY TO COVER ANY DELINQUENCIES. INVESTORS SHOULD NOT
RELY ON THE FINANCIAL CONDITION OF THE CITY IN EVALUATING WHETHER
TO BUY, HOLD, OR SELL THE BONDS.
B. Principal Outstanding: The Bonds were issued on April 23, 2008. The principal outstanding
on the Bonds as of September 3, 2015 are described as follows:
Table 1
PRINCIPAL OUTSTANDING
AS OF SEPTEMBER 3, 2015
ISSUE PRINCIPAL OUTSTANDING
Bonds $1,505,000
During Fiscal Year 2014/15 no bonds were called for redemption in advance of maturity.
However there were bond calls that occurred in prior years as shown on the Debt Service
Schedule Net of Bond Calls located in Appendix C of the report.
C. Fund Balances: The balances as of December 31, 2015 of the funds established when the
Bonds were issued are shown in the table below. The funds are currently being held by U.S. Bank
National Association, acting as fiscal agent (“Fiscal Agent”).
Table 2
FUND BALANCES
AS OF DECEMBER 31, 2015
DESCRIPTION
FUND ACCOUNT
BALANCE
Improvement Fund $0.00
Redemption Fund $83,541.92
Annual Disclosure Report, FY Ended June 30, 2015
City of Bakersfield AD No. 07-2
Limited Obligation Improvement Bonds
3
D. Reserve Fund Requirement: The official statement for the bond issue defines the “Special
Reserve Requirement,” as the least of (a) ten per cent (10%) of the proceeds of the Bonds, or (b)
the maximum debt service on the Bonds, or (c) one hundred twenty-five per cent (125%) of the
average annual debt service on the Bonds, less any amounts transferred to the Redemption Fund
when assessments are paid following the issuance of the Bonds. Under this definition, the Reserve
Requirement will be reduced as a result of prepayments of Reassessments or bond calls.
Table 3
SPECIAL RESERVE REQUIREMENT/BALANCE
AS OF DECEMBER 31, 2015
DESCRIPTION AMOUNT
Special Reserve Fund Balance $188,293.76
Special Reserve Fund Requirement $188,293.76
Special Reserve Fund Surplus/(Shortfall) $0.00
E. Delinquency History and Foreclosure Status: See Appendix A to this Report for a
detailed listing of each parcel that is delinquent, the total delinquent amount, the date of the first
delinquency and any foreclosure actions that have taken place.
F. Status of Completion of Public Improvements: The Disclosure Certificate requires a
statement of the status of completion or progress toward completion of the public improvements
described in the Official Statement under the subheading “THE ASSESSMENT DISTRICT AND
THE IMPROVEMENTS – Description of the Assessment District and the Improvements”.
The City has reported that as of the date of this Annual Continuing Disclosure Report, All
improvements authorized for the AD 07-2 financing, including all approved changes in work and
proceedings for AD 07-2, have been completed and all eligible payment claims for those
authorized and completed improvements have been paid by the City.
G. Bonds Priority of Liens: The City has reported that as of the date of this Annual Continuing
Disclosure Report, no other special tax or assessment liens have been issued against the parcels
located within the boundaries of AD 07-2. Therefore, the assessment lien for AD 07-2 continues
to have priority over all private liens and is co-equal to and independent of the lien for general
property taxes as summarized in the Bonds Official Statement under the subheading “THE
BONDS – Priority of Lien.”.
H. Reporting of Significant Events: There are no significant events to report for fiscal year
ended June 30, 2015.
I. Value-to-Lien by Parcel: See Appendix B to this Report for a detailed listing of each parcels
value-to-lien.
J. Debt Service Schedule: See Appendix C to this Report for an updated bond service debt
schedule updated for prior fiscal year bond calls.
Annual Disclosure Report, FY Ended June 30, 2015
City of Bakersfield AD No. 07-2
Limited Obligation Improvement Bonds
5
APPENDIX A: DELINQUENCY HISTORY AND FORECLOSURE STATUS
ATN
Delinquent
Amount(1)
Date First
Delinquent
Date Issuer's Council
Authorized
Foreclosure Action(2)
Date of
Foreclosure
Complaint, If Any(2)
Date Foreclosure
Sale Attempted,
If Any(2)
518‐172‐02‐00‐4 $92.98 12/10/2014 N/A N/A N/A
518‐176‐28‐00‐8 $92.98 12/10/2014 N/A N/A N/A
518‐203‐22‐00‐7 $1,640.15 4/10/2014 N/A N/A N/A
Source: City of Bakersfield as compiled by Koppel & Gruber Public Finance
1. Delinquent Amount includes assessment principal and interest delinquent as of June 30, 2015,
exclusive of any late charges, penalties for reinstatement, attorney and court fees, and do not
constitute amounts required to cure the delinquencies as of June 30, 2015 (or any delinquencies
after June 30, 2015), or to stop the foreclosure.
2. No foreclosure action has occurred since the prior year delinquencies have not exceeded 5%
and the Special Reserve Balance is fully funded as described more full in the Bond Official
Statement.
APPENDIX A
City of Bakersfield
Assessment District No. 07‐2
List of Parcels with Delinquent Assessment Installments and Foreclosure Actions Undertaken
Annual Disclosure Report, FY Ended June 30, 2015 A ‐ 1
Annual Disclosure Report, FY Ended June 30, 2015
City of Bakersfield AD No. 07-2
Limited Obligation Improvement Bonds
6
APPENDIX B: VALUE-TO-LIEN BY PARCEL
ATN Owner's Name(1)
Assessed Land
Value(1)
Assessed
Structure
Value(1)
Total
Assessed
Value(1)
Remaining
Assessment
Amount(2)
Value‐to‐
Lien
518‐040‐28‐00‐8 Berkshire Bak Llc $163,130 $0 $163,130 $33,145.49 4.92:1
518‐040‐30‐00‐3 Berkshire Bak Llc 210,478 0 210,478 43,201.08 4.87:1
518‐171‐01‐00‐4 Lenox Homes Inc 23,459 195,000 218,459 499.28 437.55:1
518‐171‐02‐00‐7 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐171‐03‐00‐0 Lenox Homes Inc 23,459 169,000 192,459 499.28 385.47:1
518‐171‐04‐00‐3 Lenox Homes Inc 23,459 173,000 196,459 499.28 393.48:1
518‐171‐05‐00‐6 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐171‐06‐00‐9 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐171‐07‐00‐2 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐171‐08‐00‐5 Ramirez Peter Anthony 40,000 174,500 214,500 499.28 429.62:1
518‐171‐09‐00‐8 Lenox Homes Inc 23,459 173,000 196,459 499.28 393.48:1
518‐171‐10‐00‐0 Elias Jose M 40,000 170,000 210,000 499.28 420.61:1
518‐171‐11‐00‐3 Chavez Benino 40,000 185,000 225,000 499.28 450.65:1
518‐172‐01‐00‐1 Lenox Homes Inc 23,459 158,096 181,555 499.28 363.63:1
518‐172‐02‐00‐4 Lenox Homes Inc 23,459 180,536 203,995 499.28 408.58:1
518‐172‐03‐00‐7 Corona Jose R 40,000 166,000 206,000 499.28 412.59:1
518‐172‐04‐00‐0 Parra Juan Carlos 40,799 173,396 214,195 499.28 429.01:1
518‐172‐05‐00‐3 Imbelloni John M & Leist Jessica R 40,799 192,776 233,575 499.28 467.82:1
518‐172‐06‐00‐6 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐172‐07‐00‐9 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐172‐08‐00‐2 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐172‐09‐00‐5 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐172‐10‐00‐7 Lenox Homes Inc 23,459 206,500 229,959 499.28 460.58:1
518‐172‐11‐00‐0 Gonzales David 40,000 195,000 235,000 499.28 470.68:1
518‐172‐12‐00‐3 Ramirez Ramon V & Frausto Maria G Ramire 40,000 196,500 236,500 499.28 473.68:1
518‐172‐13‐00‐6 Castaneda Jose A 40,000 188,500 228,500 499.28 457.66:1
518‐172‐14‐00‐9 Lenox Homes Inc 23,459 164,000 187,459 499.28 375.46:1
518‐172‐15‐00‐2 Lenox Homes Inc 23,459 147,000 170,459 499.28 341.41:1
518‐172‐16‐00‐5 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐172‐17‐00‐8 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐175‐38‐00‐0 Cres Bakersfield 2 Llc 1,442,000 0 1,442,000 43,938.38 32.82:1
518‐176‐17‐00‐6 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐176‐18‐00‐9 Bulat Marcus & Nancy Rubi 40,799 173,396 214,195 499.28 429.01:1
518‐176‐19‐00‐2 Rivas Ricardo & Maria Elizabeth 40,799 168,296 209,095 499.28 418.79:1
518‐176‐20‐00‐4 Ultreras Mario 40,000 187,000 227,000 499.28 454.65:1
518‐176‐21‐00‐7 Lenox Homes Inc 23,459 169,000 192,459 499.28 385.47:1
518‐176‐22‐00‐0 Villalobos Javier Jr 40,000 169,500 209,500 499.28 419.60:1
518‐176‐23‐00‐3 Calderon Eustolio 40,000 173,500 213,500 499.28 427.62:1
518‐176‐24‐00‐6 Hernandez Jose De Jesus Ruiz 40,799 177,476 218,275 499.28 437.18:1
518‐176‐25‐00‐9 Lopez Isaiah 40,000 164,000 204,000 499.28 408.59:1
518‐176‐26‐00‐2 Tena Hoover M 40,799 175,436 216,235 499.28 433.09:1
518‐176‐27‐00‐5 Carrillo Candelaria B & Banuelos Erika A O 40,000 168,000 208,000 499.28 416.60:1
518‐176‐28‐00‐8 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐176‐29‐00‐1 Barajas Jesus E 40,000 182,000 222,000 499.28 444.64:1
518‐176‐30‐00‐3 Lenox Homes Inc 23,459 0 23,459 499.28 46.99:1
518‐176‐31‐00‐6 Jimenez Erik 50,000 162,000 212,000 499.28 424.61:1
518‐176‐32‐00‐9 Lenox Homes Inc 23,459 193,000 216,459 498.87 433.90:1
518‐191‐01‐00‐0 Maring Darryl Robert & Jessica 30,738 156,764 187,502 8,791.90 21.33:1
518‐191‐02‐00‐3 De Lopez Franciso X & Veronica C 30,599 129,027 159,626 8,791.90 18.16:1
518‐191‐03‐00‐6 Perez David Chavez & Martinez Esmeralda M 40,799 131,577 172,376 8,791.90 19.61:1
518‐191‐04‐00‐9 Cardona Ernesto 35,699 128,517 164,216 8,791.90 18.68:1
518‐191‐05‐00‐2 Menchaca Brian C & Ramirez Rosemary 35,699 138,717 174,416 8,791.90 19.84:1
518‐191‐06‐00‐5 Campos Jonathan Hernandez 30,599 166,766 197,365 8,791.90 22.45:1
APPENDIX B
City of Bakersfield
Assessment District No. 07‐2
Value‐to‐Lien By Parcel
Annual Disclosure Report FY Ended June 30, 2015 B‐1
ATN Owner's Name(1)
Assessed Land
Value(1)
Assessed
Structure
Value(1)
Total
Assessed
Value(1)
Remaining
Assessment
Amount(2)
Value‐to‐
Lien
APPENDIX B
City of Bakersfield
Assessment District No. 07‐2
Value‐to‐Lien By Parcel
518‐191‐07‐00‐8 Welch Justin Eugene 40,799 149,427 190,226 8,791.90 21.64:1
518‐191‐08‐00‐1 Guitron David & Laura 30,738 127,563 158,301 8,791.90 18.01:1
518‐191‐09‐00‐4 Cortez Luis H & Yvonne Y 30,738 137,297 168,035 8,791.90 19.11:1
518‐191‐10‐00‐6 Ayala Anna 30,738 127,050 157,788 8,791.90 17.95:1
518‐191‐11‐00‐9 Rodriguez Duane A Flores 30,738 134,223 164,961 8,791.90 18.76:1
518‐191‐12‐00‐2 Meza Adam & Elizabeth 37,309 122,590 159,899 8,791.90 18.19:1
518‐191‐13‐00‐5 Thomas Elena A 35,699 124,947 160,646 8,791.90 18.27:1
518‐191‐14‐00‐8 Guzman Laura M 31,979 127,919 159,898 8,791.90 18.19:1
518‐191‐15‐00‐1 Fernandez Isidoro Ortiz 31,979 127,919 159,898 8,791.90 18.19:1
518‐191‐16‐00‐4 Flores Guillermo De Jesus 43,000 128,000 171,000 8,791.90 19.45:1
518‐191‐17‐00‐7 Hernandez Ramon 39,000 118,000 157,000 8,791.90 17.86:1
518‐191‐18‐00‐0 Perez Yezenia 30,738 87,090 117,828 8,791.90 13.40:1
518‐191‐19‐00‐3 Rocha Jose R & Rosa Y 30,738 142,932 173,670 8,791.90 19.75:1
518‐191‐20‐00‐5 Diaz Luis J & Rocio 31,352 113,915 145,267 8,791.90 16.52:1
518‐191‐21‐00‐8 Olvera Dionicio Romero 35,699 145,347 181,046 8,791.90 20.59:1
518‐191‐22‐00‐1 Hall Robert Kevin 40,000 118,000 158,000 8,791.90 17.97:1
518‐191‐23‐00‐4 Celis Jose A 40,983 111,169 152,152 8,791.90 17.31:1
518‐191‐24‐00‐7 Clark Delmar J 48,328 144,992 193,320 8,791.90 21.99:1
518‐191‐25‐00‐0 Gonzalez Ignacio Calderon 31,352 78,382 109,734 8,791.90 12.48:1
518‐191‐26‐00‐3 Patarak Wesley A 26,650 149,240 175,890 8,791.90 20.01:1
518‐191‐27‐00‐6 Perez Diego & Marylou 31,352 78,053 109,405 8,791.90 12.44:1
518‐191‐28‐00‐9 Ceja Miguel Angel 55,000 166,000 221,000 8,791.90 25.14:1
518‐191‐29‐00‐2 Chicca Kristen 45,000 136,000 181,000 8,791.90 20.59:1
518‐191‐30‐00‐4 Akitaya Jovan 45,000 133,000 178,000 8,791.90 20.25:1
518‐191‐31‐00‐7 Ruelas Gilberto Robles 31,352 64,796 96,148 8,791.90 10.94:1
518‐191‐32‐00‐0 Brookline Woods Llc 31,352 85,697 117,049 8,791.90 13.31:1
518‐191‐33‐00‐3 De Luna Ricardo & Lopez Mercedes D 44,000 130,000 174,000 8,791.90 19.79:1
518‐191‐34‐00‐6 Bank Of Amer 40,000 131,000 171,000 8,791.90 19.45:1
518‐191‐35‐00‐9 Rubalcado Henry T & Annabelle 51,000 153,000 204,000 8,791.90 23.20:1
518‐191‐36‐00‐2 Rivera Joe & Kade 31,979 117,259 149,238 8,791.90 16.97:1
518‐191‐37‐00‐5 Santos Yony 35,699 144,837 180,536 8,791.90 20.53:1
518‐191‐38‐00‐8 Gutierrez Marco A 52,000 154,000 206,000 8,791.90 23.43:1
518‐191‐39‐00‐1 Saldivar Gerardo & Blanca 57,115 170,603 227,718 8,791.90 25.90:1
518‐191‐40‐00‐3 Amer Homes 4 Rent Prop Five Llc 35,699 158,096 193,795 8,791.90 22.04:1
518‐191‐41‐00‐6 Figueroa Humberto & Eva 42,960 170,769 213,729 8,791.90 24.31:1
518‐191‐42‐00‐9 Champlin Joshua R & Jessica A 45,000 134,000 179,000 8,791.90 20.36:1
518‐191‐43‐00‐2 Saldivar Jesus & Cecilia 46,000 137,000 183,000 8,791.90 20.81:1
518‐191‐44‐00‐5 Orozco Leopoldo 39,000 117,000 156,000 8,791.90 17.74:1
518‐191‐45‐00‐8 Trujillo Leopoldo Cazares 30,738 85,041 115,779 8,791.90 13.17:1
518‐191‐46‐00‐1 Yanez Martha I Canul 39,000 117,000 156,000 8,791.90 17.74:1
518‐191‐47‐00‐4 Zamudio Humberto Ramos 31,979 128,985 160,964 8,791.90 18.31:1
518‐191‐48‐00‐7 Livingstone Donna L 49,000 145,000 194,000 8,791.90 22.07:1
518‐191‐49‐00‐0 Becerra Sergio 31,352 83,607 114,959 8,791.90 13.08:1
518‐191‐50‐00‐2 Hernandez Antonio S & De Hernandez Rosa M 40,799 142,797 183,596 8,791.90 20.88:1
518‐191‐51‐00‐5 Morales Alexander 35,699 150,447 186,146 8,791.90 21.17:1
518‐191‐52‐00‐8 U S Bk N A 30,738 104,510 135,248 8,791.90 15.38:1
518‐191‐53‐00‐1 Ayala Rafael & Contreras Ofelia 43,000 127,000 170,000 8,791.90 19.34:1
518‐191‐54‐00‐4 Barajas Edgar 37,309 124,188 161,497 8,791.90 18.37:1
518‐191‐55‐00‐7 Sencio Reynaldo & Eleanor 35,699 154,526 190,225 8,791.90 21.64:1
518‐192‐01‐00‐7 Rodriguez Jose L 31,352 146,314 177,666 8,791.90 20.21:1
518‐192‐02‐00‐0 Gonzalez Alejandro 30,738 148,568 179,306 8,791.90 20.39:1
518‐192‐03‐00‐3 Thomas James 30,738 136,272 167,010 8,791.90 19.00:1
518‐192‐04‐00‐6 Rodriguez Kevin Allen 30,738 152,666 183,404 8,791.90 20.86:1
Annual Disclosure Report FY Ended June 30, 2015 B‐2
ATN Owner's Name(1)
Assessed Land
Value(1)
Assessed
Structure
Value(1)
Total
Assessed
Value(1)
Remaining
Assessment
Amount(2)
Value‐to‐
Lien
APPENDIX B
City of Bakersfield
Assessment District No. 07‐2
Value‐to‐Lien By Parcel
518‐192‐05‐00‐9 Wright Darlene Dunham 35,699 144,837 180,536 8,791.90 20.53:1
518‐192‐06‐00‐2 Gonzalez Steven M 30,599 150,447 181,046 8,791.90 20.59:1
518‐192‐07‐00‐5 Perez Emmanuel 35,699 149,427 185,126 8,791.90 21.06:1
518‐192‐08‐00‐8 Jimenez Salvador M Sr & Maria G 64,286 162,603 226,889 8,791.90 25.81:1
518‐192‐09‐00‐1 Wells Fargo Bk 35,699 130,557 166,256 8,791.90 18.91:1
518‐192‐10‐00‐3 Rodriguez Eulogio 40,799 138,717 179,516 8,791.90 20.42:1
518‐192‐11‐00‐6 Rivera Jose H & Maria R 31,979 97,538 129,517 8,791.90 14.73:1
518‐192‐12‐00‐9 Norman Teresa C 46,000 136,000 182,000 8,791.90 20.70:1
518‐192‐13‐00‐2 Delahuerta Ryan Andre 30,738 139,346 170,084 8,791.90 19.35:1
518‐192‐14‐00‐5 Hartford Maribel Flores 35,699 154,526 190,225 8,791.90 21.64:1
518‐192‐15‐00‐8 Barrera Santos Felix Macedo 35,699 154,526 190,225 8,791.90 21.64:1
518‐192‐16‐00‐1 Valencia Jose Antonio Lopez 35,699 140,247 175,946 8,791.90 20.01:1
518‐192‐17‐00‐4 Leon Ignacio & Maria De La Luz 35,699 144,327 180,026 8,791.90 20.48:1
518‐192‐18‐00‐7 Higuera Adalberto Cervantes 30,599 155,036 185,635 8,791.90 21.11:1
518‐192‐19‐00‐0 Garay Jorge Jr 35,699 157,427 193,126 8,791.90 21.97:1
518‐192‐20‐00‐2 Cardenas Zenia 40,799 141,776 182,575 8,791.90 20.77:1
518‐192‐21‐00‐5 Castellano Matthew G 40,799 128,007 168,806 8,791.91 19.20:1
518‐192‐22‐00‐8 Cesenas Brandon Ray 35,699 207,055 242,754 8,791.91 27.61:1
518‐192‐23‐00‐1 Morales Jesse C Jr 35,699 154,526 190,225 8,791.91 21.64:1
518‐192‐24‐00‐4 Korin Yahya Mohamed 35,699 212,565 248,264 8,791.91 28.24:1
518‐192‐25‐00‐7 Tabelisma Erickson Diniega 40,799 145,347 186,146 8,791.91 21.17:1
518‐192‐27‐00‐3 Dominguez Alberto & Christina 35,699 206,545 242,244 8,791.91 27.55:1
518‐192‐28‐00‐6 Alcaraz Raul Sanchez 30,599 142,287 172,886 8,791.91 19.66:1
518‐192‐29‐00‐9 Alcala Juan Ramon G 40,799 131,577 172,376 8,791.91 19.61:1
518‐192‐30‐00‐1 Villanueva Abel & Herminia 40,799 133,617 174,416 8,791.91 19.84:1
518‐192‐31‐00‐4 Caton Jamison Tyler 40,983 127,563 168,546 8,791.91 19.17:1
518‐192‐32‐00‐7 Ruvalcaba Efren Munoz 30,599 143,307 173,906 8,792.38 19.78:1
518‐201‐01‐00‐2 Mendoza Merced & Yolanda 35,699 140,247 175,946 8,791.91 20.01:1
518‐201‐02‐00‐5 Hansen Tyler Shaun 40,799 154,016 194,815 8,791.91 22.16:1
518‐201‐03‐00‐8 Roberson Erik Anthony 40,799 143,817 184,616 8,791.91 21.00:1
518‐201‐04‐00‐1 Hernandez Ruth Selene 40,799 137,697 178,496 8,791.91 20.30:1
518‐201‐05‐00‐4 Navarro Agustin & Juana Delgado 40,799 142,797 183,596 8,791.91 20.88:1
518‐201‐06‐00‐7 Bravo Marcelo 30,738 148,568 179,306 8,791.91 20.39:1
518‐201‐07‐00‐0 Rodriguez Ernesto A & Silvia F 40,799 143,817 184,616 8,791.91 21.00:1
518‐202‐03‐00‐5 Soto Cambryn 30,738 137,297 168,035 8,791.91 19.11:1
518‐202‐04‐00‐8 Perez Pedro Cuevas & Ochoa Maria A Garcia 30,738 112,706 143,444 8,791.91 16.32:1
518‐202‐05‐00‐1 Aguayo Ruben Ibarra 30,738 104,510 135,248 8,791.91 15.38:1
518‐202‐06‐00‐4 Garcia Robert 39,000 118,000 157,000 8,791.91 17.86:1
518‐202‐07‐00‐7 Reveles Jose Luis 30,599 141,267 171,866 8,791.91 19.55:1
518‐202‐08‐00‐0 Garcia Albert L 31,979 136,447 168,426 8,791.91 19.16:1
518‐202‐09‐00‐3 Singh Nazar & Kaur Ranjit 30,738 130,636 161,374 8,791.91 18.35:1
518‐202‐10‐00‐5 Gregory Geraldine 37,309 130,584 167,893 8,791.91 19.10:1
518‐202‐11‐00‐8 Lopez Jose M Ballesteros 35,699 144,327 180,026 8,791.91 20.48:1
518‐202‐12‐00‐1 Ramos Carlos 30,738 138,834 169,572 8,791.91 19.29:1
518‐202‐13‐00‐4 Singh Rajinder & Kaur Rajwinder 35,699 138,717 174,416 8,791.91 19.84:1
518‐202‐14‐00‐7 Arrendondo Isais 40,983 127,050 168,033 8,791.91 19.11:1
518‐202‐15‐00‐0 Rodriguez Luis Alberto 43,000 128,000 171,000 8,791.91 19.45:1
518‐202‐16‐00‐3 Rich Jimmy L & Melissa M 42,960 114,920 157,880 8,791.91 17.96:1
518‐202‐17‐00‐6 Fernandez Jose L 30,000 106,000 136,000 8,791.91 15.47:1
518‐202‐18‐00‐9 Schnitker Tim 42,639 123,655 166,294 8,791.91 18.91:1
518‐202‐19‐00‐2 Sanchez Luis 35,699 142,797 178,496 8,791.91 20.30:1
518‐202‐20‐00‐4 Macias Carlos 42,960 131,029 173,989 8,791.91 19.79:1
518‐202‐21‐00‐7 Urrea Demetrio 43,000 129,000 172,000 8,791.91 19.56:1
Annual Disclosure Report FY Ended June 30, 2015 B‐3
ATN Owner's Name(1)
Assessed Land
Value(1)
Assessed
Structure
Value(1)
Total
Assessed
Value(1)
Remaining
Assessment
Amount(2)
Value‐to‐
Lien
APPENDIX B
City of Bakersfield
Assessment District No. 07‐2
Value‐to‐Lien By Parcel
518‐202‐22‐00‐0 Yaniz Carol 43,000 128,000 171,000 8,791.91 19.45:1
518‐202‐23‐00‐3 Vargas Johvany 42,960 125,659 168,619 8,791.91 19.18:1
518‐202‐24‐00‐6 Baca Maria Christina 42,960 114,920 157,880 8,791.91 17.96:1
518‐202‐25‐00‐9 Navarro Kenny W 42,960 107,401 150,361 8,791.91 17.10:1
518‐202‐26‐00‐2 Hernandez Jose L Jr 42,960 119,215 162,175 8,791.91 18.45:1
518‐202‐27‐00‐5 Lopez Bibiana 31,352 147,881 179,233 8,791.91 20.39:1
518‐202‐28‐00‐8 Aguirre Placido Martinez & Patricia 40,799 149,427 190,226 8,791.91 21.64:1
518‐202‐29‐00‐1 Hernandez Josue Alcantara 40,799 140,247 181,046 8,791.91 20.59:1
518‐202‐30‐00‐3 Barrios Joshua 40,799 123,417 164,216 8,791.91 18.68:1
518‐202‐31‐00‐6 Leon Juan Carlos 30,599 162,686 193,285 8,791.91 21.98:1
518‐202‐32‐00‐9 Ramos Julio A 40,799 140,757 181,556 8,791.91 20.65:1
518‐203‐01‐00‐6 Alvarez Elizabeth A Tr 37,309 188,682 225,991 8,791.91 25.70:1
518‐203‐02‐00‐9 Ruiz Calixto Jesus Perez 41,803 146,314 188,117 8,791.91 21.40:1
518‐203‐03‐00‐2 Estrada Leoncio & Juanita 42,639 159,900 202,539 8,791.91 23.04:1
518‐203‐04‐00‐5 Gonzalez Leticia 30,738 133,199 163,937 8,791.91 18.65:1
518‐203‐05‐00‐8 Gonzalez Florencio 26,650 164,163 190,813 8,791.91 21.70:1
518‐203‐06‐00‐1 Hernandez Pedro 31,979 156,701 188,680 8,791.91 21.46:1
518‐203‐07‐00‐4 Vega Tomas & Martha 40,983 112,010 152,993 8,791.91 17.40:1
518‐203‐08‐00‐7 Santacruz Sergio 30,738 133,199 163,937 8,791.91 18.65:1
518‐203‐09‐00‐0 Thurman Monique Angelique & Roberson Ja 30,738 132,686 163,424 8,791.91 18.59:1
518‐203‐10‐00‐2 Cabrera Martha A C 40,983 117,830 158,813 8,791.91 18.06:1
518‐203‐11‐00‐5 Chavez Connie 40,983 117,317 158,300 8,791.91 18.01:1
518‐203‐12‐00‐8 Hernandez Jose De Jesus 30,738 136,751 167,489 8,791.91 19.05:1
518‐203‐14‐00‐4 Rupe Ricky L Jr 40,983 157,789 198,772 8,791.91 22.61:1
518‐203‐15‐00‐7 Rodriguez Modesto Jr 40,983 121,415 162,398 8,791.91 18.47:1
518‐203‐16‐00‐0 Acoba Rixon Lauro G & Leia Judith Parubrub 31,352 159,673 191,025 8,791.91 21.73:1
518‐203‐17‐00‐3 Gonzalez Jose R 30,738 137,297 168,035 8,791.91 19.11:1
518‐203‐18‐00‐6 Bishop Frank E Jr & Stormy 30,738 137,809 168,547 8,791.91 19.17:1
518‐203‐19‐00‐9 Gomez Pedro Guardado & De Guardado Glo 42,639 124,721 167,360 8,791.91 19.04:1
518‐203‐20‐00‐1 Gonzales Abran 42,639 158,833 201,472 8,791.91 22.92:1
518‐203‐21‐00‐4 Terrazas Jesse 42,960 191,095 234,055 8,791.91 26.62:1
518‐203‐22‐00‐7 Rojas Dianne 31,352 160,945 192,297 8,791.91 21.87:1
518‐203‐23‐00‐0 Ramos Santos 30,738 121,928 152,666 8,791.91 17.36:1
518‐203‐24‐00‐3 Vorderbruegge David & Loma P 30,738 115,267 146,005 8,791.91 16.61:1
518‐203‐25‐00‐6 Ammerman Fred William 35,699 144,327 180,026 8,791.91 20.48:1
518‐203‐26‐00‐9 Degracia Granel N & Erlene J 40,983 172,645 213,628 8,791.91 24.30:1
518‐203‐27‐00‐2 Gonzalez Ana D 33,149 136,677 169,826 8,791.91 19.32:1
518‐203‐28‐00‐5 Pena Raymundo A 40,799 126,477 167,276 8,791.91 19.03:1
518‐203‐29‐00‐8 Alvarez Arnulfo & Velazquez Maria I 30,738 138,321 169,059 8,791.91 19.23:1
518‐203‐30‐00‐0 Bejar Ignacio Javier 30,599 158,096 188,695 8,791.91 21.46:1
518‐203‐31‐00‐3 Ortega Noe A & Sonia M 35,699 157,586 193,285 8,791.91 21.98:1
518‐203‐32‐00‐6 Mejia Joe 30,599 149,427 180,026 8,791.91 20.48:1
518‐203‐33‐00‐9 Eccleston Olivia 30,738 132,686 163,424 8,793.28 18.59:1
202 Parels $8,920,838 $26,703,653 $35,624,491 $1,505,000.00 23.67:1
Annual Disclosure Report FY Ended June 30, 2015 B‐4
Annual Disclosure Report, FY Ended June 30, 2015
City of Bakersfield AD No. 07-2
Limited Obligation Improvement Bonds
7
APPENDIX C: DEBT SERVICE SCHEDULE
Annual
Total
Call
Premium
4.250%3.00%
3.00%
4.250%3.00%
3.00%
4.550%3.00%
3.00%
4.800%3.00%
3.00%
5.150%3.00%
3.00%
5.350%3.00%
3.00%
7.375%3.00%
3.00%
7.375%3.00%
3.00%
7.375%3.00%
3.00%
7.375%3.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
0.00%
7.375%0.00%
Payment
Date
9/2/2008
3/2/2009
Appendix C
City of Bakersfield
AD NO. 07-2 (SYDNEY HARBOUR)
Current Debt Service Schedule
Net of Bond Call (September 2, 2009 and September 2, 2013)
9/2/2009
9/2/2009
$4,825,000.00
4,825,000.00
4,825,000.00
4,700,000.00
$121,258.66
169,198.13
169,198.13
0.00
Interest
Rate
3/2/2010
9/2/2010
3/2/2011
9/2/2011
3/2/2012
9/2/2012
3/2/2013
9/2/2013
9/2/2013
3/2/2014
9/2/2014
3/2/2015
9/2/2015
3/2/2016
9/2/2016
3/2/2017
9/2/2017
3/2/2018
9/2/2027
9/2/2018
3/2/2019
9/2/2019
3/2/2020
9/2/2020
3/2/2021
9/2/2021
3/2/2022
9/2/2022
3/2/2028
9/2/2028
Total
3/2/2023
9/2/2023
3/2/2024
9/2/2024
3/2/2025
9/2/2025
3/2/2026
9/2/2026
3/2/2027
2,000,000.00
2,000,000.00
1,945,000.00
1,945,000.00
1,885,000.00
1,885,000.00
1,825,000.00
1,825,000.00
1,760,000.00
1,635,000.00
1,635,000.00
1,570,000.00
1,570,000.00
1,505,000.00
1,505,000.00
1,430,000.00
1,430,000.00
1,350,000.00
1,350,000.00
1,265,000.00
1,265,000.00
1,170,000.00
1,170,000.00
1,070,000.00
1,070,000.00
965,000.00
965,000.00
855,000.00
855,000.00
735,000.00
735,000.00
605,000.00
605,000.00
465,000.00
465,000.00
315,000.00
315,000.00
160,000.00
160,000.00
Balance
$4,825,000.00
Principal
$0.00
0.00
125,000.00
2,700,000.00
0.00
55,000.00
0.00
60,000.00
0.00
60,000.00
0.00
65,000.00
125,000.00
0.00
65,000.00
0.00
65,000.00
0.00
75,000.00
0.00
80,000.00
0.00
85,000.00
0.00
95,000.00
0.00
100,000.00
0.00
105,000.00
0.00
110,000.00
0.00
120,000.00
0.00
130,000.00
0.00
140,000.00
0.00
150,000.00
0.00
155,000.00
0.00
160,000.00
70,875.00
70,875.00
69,623.75
69,623.75
68,183.75
68,183.75
66,638.75
66,638.75
0.00
60,290.63
60,290.63
57,893.75
57,893.75
55,496.88
55,496.88
52,731.25
22,309.38
162,309.38
17,146.88
$6,948,553.76
$121,258.66
169,198.13
294,198.13
2,700,000.00
70,875.00
125,875.00
69,623.75
129,623.75
68,183.75
128,183.75
66,638.75
131,638.75
125,000.00
60,290.63
125,290.63
57,893.75
122,893.75
35,584.38
35,584.38
31,528.13
17,146.88
11,615.63
11,615.63
5,900.00
5,900.00
Interest
22,309.38
22,309.38
17,146.88
52,731.25
49,781.25
49,781.25
46,646.88
46,646.88
43,143.75
43,143.75
39,456.25
39,456.25
31,528.13
27,103.13
27,103.13
167,146.88
11,615.63
166,615.63
5,900.00
165,900.00
Payment
Total
143,143.75
39,456.25
144,456.25
35,584.38
145,584.38
31,528.13
151,528.13
27,103.13
157,103.13
55,496.88
130,496.88
52,731.25
132,731.25
49,781.25
134,781.25
46,646.88
141,646.88
43,143.75
$121,258.66
0.00
0.00
3,163,396.26
0.00
196,750.00
0.00
199,247.50
0.00
196,367.50
0.00
0.00
323,277.50
0.00
185,581.26
0.00
180,787.50
0.00
185,993.76
0.00
185,462.50
0.00
184,562.50
0.00
188,293.76
0.00
186,287.50
0.00
183,912.50
0.00
181,168.76
0.00
183,056.26
0.00
184,206.26
0.00
184,618.76
0.00
184,293.76
0.00
178,231.26
0.00
171,800.00
Annual Disclosure Report, FY Ended June 30, 2015 C ‐ 1