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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 1111194(1351.1) ORIGINAL 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 ORIGINAL 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 1/11/94(1351.1) 3 ORIGINAL 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) l/ll/~(1351.1) 4 ORIGINAL 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 1/11/94(1351.1) 5 ORiGiNAL 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 ORIG~t~AL