HomeMy WebLinkAboutRES NO 14-94 ESOLUTION 1 4 ' 9 4
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAKEHSFIELD
APPROVING AND CONFIRMING REASSESSMENT REPORT
AND REASSESSMENT, MAKING FINDINGS IN CONNECTION
THEREWITH ~ ORDERING REFUNDING ~ REASSESSMENT
IN CONNECTION WITH THE CITY OF BAKERSFIELD
ASSESSMENT DISTRICT NO. 86-2
RESOLVED BY THE CITY COUNCIL (the "Council") OF THE CITY
OF BAKERSFIELD (the "City") as follows:
WHEREAS, by Resolution No. 60-86, adopted on June 4,
1986, the Council formed the City of Bakersfield Assessment
District No. 86-2 (the "District"), pursuant to the Municipal
Improvement Act of 1913 (the "Law"); and
WHEREAS, by Resolution No. 165-86, adopted on November 5,
1986, the Council authorized the issuance of the City of
Bakersfield Assessment District No. 86-2 Improvement Bonds, Series
A (the "Series A Bonds"), originally issued in the aggregate
principal amount of $7,927,223.96, and by Resolution No. 180-87,
adopted on September 23, 1987, the Council authorized the issuance
of the city of Bakersfield Assessment District No. 86-2 Improvement
Bonds, Series B (the "Series B Bonds"), originally issued in the
aggregate principal amount of $3,310,000, and by Resolution No. 18-
88, adopted on February 17, 1988, the Council authorized the
issuance of the city of Bakersfield Assessment District No. 86-2
Improvement Bonds, Series C (the "Series C Bonds"), originally
issued in the aggregate principal amount of $2,470,000, and by
Resolution No. 52-88, adopted on March 30, 1988, the Council
authorized the issuance of the City of Bakersfield Assessment
District No. 86-2 Improvement Bonds, Series D (the "Series D
Bonds"), originally issued in the aggregate principal amount of
$4,568,000 (the Series A Bonds, the Series B Bonds, the Series C
Bonds and the Series D Bonds, collectively, the "Prior Bonds"), all
under the provisions of the Improvement Bond Act of 1915, being
Division 10, commencing with Section 8500, of the California
Streets and Highways Code (the "Bond Act"), for the purpose of
providing funds for the construction of improvements within the
District; and
WHEREAS, on January 12, 1994, the Council adopted its
Resolution of Intention No. 1114 (the "Resolution of Intention") to
levy reassessments, and to issue refunding bonds upon the security
thereof, within the District, and referred the proposed refunding
and reassessment to the Public Works Director of the City as the
Engineer of Work, and to Wilson & Associates, the qualified firm
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retained by the City to provide all reassessment engineering
consultation and services in connection with the proposed refunding
and reassessment (the "Reassessment Engineer"); and
WHEREAS, in the Resolution of Intention, the Council
directed the Engineer of Work and the Reassessment Engineer to
prepare and file with the City Clerk of the City (the "Clerk") a
written report (the "Reassessment Report") in accordance with and
pursuant to the provisions of the Refunding Act of 1984 for 1915
Improvement Act Bonds, being Division 11.5, commencing with Section
9500, of the California Streets and Highways Code (the "Refunding
Act"); and
WHEREAS, the Reassessment Report was duly prepared and
filed with the Clerk, whereupon the Clerk presented it to the
Council for consideration; and
WHEREAS, the Council has duly considered the Reassessment
Report and each and every part thereof and found that it contains
all the matters and things called for by the Refunding Act,
including:
(a) A schedule setting forth the unpaid principal and
interest on the Prior Bonds and the total amounts thereof;
(b) The total estimated principal amount of the
reassessment and of the bonds proposed to be issued for the
refunding of the Prior Bonds (the "Refunding Bonds") and the
maximum interest rates thereon, together with an estimate of
cost of the reassessment and of issuing the Refunding Bonds,
including all costs of issuing the Refunding Bonds, as defined
by subdivision (a) of Section 9600 of the Refunding Act;
(c) The auditor's records for the Prior Bonds kept
pursuant to Section 8682 of the Bond Act showing the schedule
of principal installments and interest on all unpaid original
assessments in the District, and the total amounts thereof;
(d) The estimated amount of each reassessment,
identified by reassessment number corresponding to the
reassessment number on the reassessment diagram(s), together
with a proposed auditor's record for the reassessment prepared
in the manner described in Section 8682 of the Bond Act;
(e) A reassessment diagram or diagrams showing the
District and the boundaries and dimensions of the subdivisions
of land within the District, with each subdivision, including
each separate condominium interest as defined in Section 783
of the California civil Code, having been given a separate
number upon the diagram(s); and
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WHEREAS, the Council has found that the Reassessment
Report and each and every part thereof is sufficient in every
particular and has determined that it should stand as the
Reassessment Report for all subsequent proceedings under the
Refunding Act;
THEREFORE, THE COUNCIL FINDS, DETERMINES AND ORDERS as
follows:
1. The Council finds that the proposed refunding and
reassessment as described in the Resolution of Intention and the
Reassessment Report, as approved and confirmed by the Council in
this resolution, is categorically exempt from the provisions of the
California Environmental Quality Act under Section 15301 of the
California Code of Regulations.
2. Based on the information in the Reassessment Report
and other evidence presented to the Council, all of the following
conditions are satisfied:
(a) Each estimated annual installment of principal and
interest on the reassessment, as set forth in the Reassessment
Report, is less than the corresponding annual installments of
principal and interest on the original assessments being
superseded and supplanted, as set forth in the Reassessment
Report, by the same percentage for all subdivisions of land
within the District. No amounts, if any, added to the annual
installments on the reassessment due to a delinquency in
payment on the original assessments have been considered in
the calculations supporting this finding.
(b) The number of years to maturity of all Refunding
Bonds in each series thereof is not more than the number of
years to the last maturity of the Prior Bonds being refunded
by that series.
(c) The principal amount of the reassessment on each
subdivision of land within the District is less than the
unpaid principal amount of the original assessments being
superseded and supplanted by the same percentage for each
subdivision of land within the District. No amount, if any,
added to a reassessment because of a delinquency in payment on
an original assessment has been considered in the calculations
supporting this finding.
3. The Reassessment Report, as presented to the Council
at this meeting, is approved and confirmed and shall stand as the
reassessment report for the purpose of all subsequent proceedings
in connection with the refunding and reassessment.
4. The properties within the District will benefit by
the refunding and reassessment and shall be assessed to pay the
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costs and expenses thereof, including installments of principal and
interest on the Refunding Bonds. The exterior boundaries of the
District are shown on the map on file with the Clerk and approved
by the Council on June 4, 1986, by Resolution No. 60-86. The map
is incorporated into this resolution by this reference. All public
streets, highways, lanes, rights-of-way, alleys and other public
places within the District in use in the performance of any public
function, and all lands owned by any public entity, including the
United States, the State of California, the City and any divisions
or departments of any of them, shall be omitted from the
reassessment to be levied.
5. The estimate of the itemized and total costs and
expenses of the refunding and reassessment and of the incidental
expenses in connection therewith, as contained in the Reassessment
Report is hereby finally adopted and approved as the Engineer of
Work's and Reassessment Engineer's total and detailed estimate of
the costs and expenses of the refunding and reassessment, except
that the costs of issuing the Refunding Bonds pursuant to Section
9600 of the Refunding Act shall be as designated by the Council in
the resolution or resolutions providing for the issuance of the
Refunding Bonds.
6. The public interest and necessity require, and the
Council hereby orders, the refunding and reassessment to be done
and completed as described in and in accordance with the Resolution
of Intention, this resolution, the Reassessment Report and the
Refunding Act.
7. The reassessment diagram(s) showing the District and
also the boundaries and dimensions of the respective subdivisions
of land within the District, each subdivision having been given a
separate number upon the diagram(s), as contained in the
Reassessment Report, is/are hereby finally approved and confirmed
as the diagram(s) of the properties to be reassessed in these
proceedings.
8. The reassessment upon the several subdivisions of
land in the District, including the expenses incidental to the
refunding and reassessment, all as contained in the Reassessment
Report, is hereby finally approved and confirmed as the final
reassessment.
9. The Reassessment Report is hereby finally approved,
confirmed and adopted as a whole.
10. The Clerk shall forthwith deliver to the Public
Works Director of the city the reassessment, together with the
reassessment diagram(s) attached thereto and made a part thereof,
as confirmed by this Council with the Clerk's certificate of
confirmation and the date thereof attached thereto. The Public
Works Director shall forthwith record the reassessment diagram(s)
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and reassessment in his office in a suitable book kept for that
purpose, and append thereto his certificate of the date of
recording, and such recordation shall be and constitute the
reassessment roll herein.
11. The Clerk shall further file a copy of the
reassessment diagram(s) with the Kern County Recorder and shall
execute and cause a Notice of Reassessment, with the reassessment
roll attached, to be recorded in the office of the Kern County
Recorder in the manner and form prescribed by Section 3114 of the
California Streets and Highways Code. The Clerk shall further
cause a certified copy of the reassessment and the reassessment
diagram(s) to be filed in her office in the City of Bakersfield,
California.
12. The Finance Director of the city is hereby
designated as the Collection Officer and shall collect and receive
the money paid pursuant to the reassessment.
13. Pursuant to Sections 9543 through 9545 of the
Refunding Act, the Kern County Auditor (the "Auditor") is
authorized and directed to keep the record for the reassessment
showing the several installments of principal and interest on the
reassessments which are to be collected in each year during the
term of the Refunding Bonds. The Auditor is further authorized and
directed to annually enter in his or her assessment roll on which
taxes will next become due the several installments of the
reassessment coming due during the year covered by the assessment
roll, including interest, penalties and fees as allowed under the
Refunding Act. The Clerk shall file a copy of this resolution in
the office of the Auditor.
14. Final adoption, approval and confirmation of the
Reassessment Report as a whole, of the estimate of the costs and
expenses, and of the reassessment and the reassessment diagram(s),
as contained in the Reassessment Report, as hereinabove determined
and ordered, is intended to and shall refer and apply to the
Reassessment Report, or any portion thereof, as amended, modified,
revised or corrected by, pursuant to or in accordance with any
resolution or order previously adopted or made by this Council.
III
III
III
III
III
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I HEREBY CERTIFY that the foregoing Resolution was passed
and adopted by the City Council of the City of Bakersfield at a
regular meeting thereof held on the 12th day of January 1994, by
the following vote:
J~S: COUNCILMEMBERS M:DERMOTT, EDWARDS, 13eMOND, SMITH, SRUNNI, I~OWLES, ~ALVAG(310
NOES: COUNCILMEMBERS J'~ O-Y] ~-
A~TNN: COUNCILMEMBE~S' -.~0~ ~ .
~: ~UNOILMEMBE~ [] I~ ~ ~
City Clerk and Ex Officio
Clerk of the Council of the
City of Bakersfield
APPROVED this 12th day of January
1994
APPROVED AS TO FORM:
BURKE, WILLIAMS & SORENSEN,
Bond Counsel
COUNTERSIGNED:
CI~ ~T~.~ of~he
citI of Bakersfield
6
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