HomeMy WebLinkAboutRES NO 127-86RESOLUTION NO. 127-86
A RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD, CALIFORNIA, DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS IN THE MATTER
OF CIT~ OF BAKERSFIELD ASSESSMENT DISTRICT NO. 86-2
RESOLVED, by the Council of the City of Bakersfield,
California, that:
WHEREAS, on June 4, 1986, this Council passed and
adopted Resolution of Intention No. 1004, to order acquisition
and improvements (herein "Improvements") under and pursuant to
the provisions of the Municipal Improvement Act of 1913 and there-
in provided that serial bonds would be issued thereunder pursuant
to the provisions of the Improvement Bond Act of 1915, reference
to said Resolution of Intention hereby being made for further
particulars; and
WHEREAS, notice of the recordation of the assessment and
of the time within which assessments were to be paid in cash was
duly published and mailed in the manner provided by law, and the
time so provided for receiving payment of assessments in cash was
waived by the owners of all the property proposed to be assessed,
and the Finance Director of the City of Bakersfield, the official
who has been designated by this Council as Collection Officer for
cash payments of said assessments, has filed herewith for presen-
tation to the Council a list of all assessments which remain un-
paid; and
WHEREAS, this Council duly considered said list and
determined that the same was an accurate statement thereof;
NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED, as
follows:
1. List of Unpaid Assessments. The assessments now re-
maining unpaid are as shown on said list and on Exhibit "A"
attached hereto and by this reference is made a part hereof; the
aggregate amount thereof is $18,275,923.96, and for a particular
description of the lots or parcels of land bearing the respective
assessment numbers set forth in said list, reference is hereby
made to the assessment and to the diagram recorded in the office
of the Director of Public Works of this City after confirmation
thereof by this Council.
2. Issuance of Bonds. Bonds in the aggregate principal
amount of $18,275,923.96, shall be issued as hereinafter provided
upon the security of said unpaid assessments in accordance with
and under and pursuant to the provisions of said Resolution of
Intention and the proceedings thereunder duly had and taken. The
bonds herein provided to be issued shall be known as "Improvement
Bonds, City of Bakersfield, Improvement District No. 86-2", and
shall be dated the date of delivery in 1986, if other than August
25, 1986. Said bonds shall be issued in fully registered form,
be numbered and of the denominations and mature in the amounts
and on the dates set forth in Exhibit "B" attached hereto and by
this reference made a part hereof. The Bank of America, N.T. &
S.A., San Francisco, California, is hereby designated Transfer
Agent, Registrar and Paying Agent (the "Agent") for the City with
respect to said Bonds.
3. Payment of Bonds. Said bonds shall bear interest at
the rate or rates determined
of said bonds (not to exceed
such higher rate of interest
by this Council at the time of sale
twelve percent [12%] per annum, or
as may be authorized by applicable
law at the time of sale of such bonds), payable commencing on
March 2, 1987, and semiannually thereafter on September 2 and
March 2 of each year to maturity.
Each bond shall bear interest from the interest payment
date next preceding the date on which it is authenticated, unless
authenticated on a March 2 or a September 2, in which event it
shall bear interest from such interest payment date, or, unless
authenticated prior to March 2, 1987, in which event it shall
bear interest from its date; provided, however, that if at the
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time of authentication interest is in default, each bond shall
bear interest from the date to which interest has been paid.
Each bond will continue to bear interest after maturity
at the rate stated therein, provided it is presented at maturity
and payment thereof is refused on the sole ground that there is
not sufficient money in the redemption fund with which to pay
same; if it is not p~esented at maturity, interest thereon will
run only until maturity. The principal and redemption premium of
said bonds shall be !payable in lawful money of the United States
of America at the principal office of the Agent, or its successor,
in San Francisco, California, upon the presentation and the sur-
render of said bonds as the same become due and payable. Inter-
est on said bonds shall be paid to the registered owner by check
or draft mailed to the
vided for herein as of
interest payment date.
address entered in the registry book pro-
the 15th day immediately preceding each
4. Form. The bonds shall be substantially in the form
set forth in Section 8652 of the Streets and Highways Code of the
State of California.
5. Execution. Said bonds shall be executed on behalf
of the City and its official seal by the Treasurer of the City of
Bakersfield and by tile City Clerk of said City, whose signatures
shall be reproduced on the bonds by engraved, printed or litho-
graphed facsimile thereof, and the official seal may be placed on
the bonds in like manner; such signing and sealing shall consti-
tute and be a sufficient and binding execution of each and every
one of said bonds. The bonds shall then be delivered to the
Agent for authentication by it.
If any officer whose signature appears on said bonds
ceases to be such officer before the authentication and delivery
of said bonds to the purchaser thereof, such signature shall be as
valid as if such officer had remained in office until the authen-
tication and delivery of said bonds.
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6. Authentication. Only such of the bonds as shall
bear thereon a certificate of authentication substantially in the
form below, manually executed by the Agent, shall be valid or ob-
ligatory for any purpose or entitled to the benefits of this Reso-
lution, and such certificate of the Agent shall be conclusive evi-
dence that the bonds so authenticated have been duly executed,
authenticated and delivered hereunder and are entitled to the
benefits of this resolution. The Agent's certificate of authenti-
cation on any bond shall be deemed to be executed by it if signed
by an authorized officer or signatory of the Agent, but it shall
not be necessary that the same officer or signatory sign the cer-
tificate of authentication on all of the bonds issued hereunder.
FORM OF CERTIFICATE OF AUTHENTICATION AND REGISTRATION
This is one of the bonds, described in the within men-
tioned Resolution of Issuance, which was registered on
BANK OF AMERICA, National
Trust and Savings Association
Transfer Agent, Registrar
and Paying Agent
~uthorized Officer "
7. Preparation.and Delivery of Bonds. The Treasurer of
said City is hereby directed to cause said bonds to be prepared in
accordance with this resolution and to deliver same upon their
completion and execution to the Agent who shall authenticate and
deliver said bonds to the purchaser thereof, upon receipt of the
purchase price therefor, and upon the performance of the condi-
tions contained in the accepted bid for the bonds.
8. Improvement Fund. Said Treasurer shall keep an
improvement fund designated by the name and/or number of the
improvement or assessment district, into which shall be placed the
4
proceeds received from the sale of said bonds, including any
premium (except that any interest accrued from the date of the
bonds to the date of delivery thereof shall be placed in the
redemption fund provided for herein). All moneys in said fund
shall be withdrawn only upon checks or warrants of the City of
Bakersfield and shall be applied exclusively to the payment of the
cost of the acquisitions and/or construction of the improvements
described in the proceedings under and pursuant to said Resolution
of Intention, as now of hereafter changed or modified by appropri-
ate legal proceedings, and all expenses incidental thereto. Any
surplus remaining after payment of all costs and all legal
charges, claims and expenses shall be used as set forth in said
proceedings.
9. Redemption Fund. Said Treasurer shall keep a re-
demption fund designated by the name of the bonds, into which
shall be placed any accrued interest for the period from the date
of said bonds to the date of delivery thereof and all sums re-
ceived from the collection of unpaid penalties thereon, and from
which fund disbursement shall De made to pay the principal or ad-
vance redemption price of the bonds and the interest due thereon.
10. Reserve Fund. Upon placement of the proceeds from
the sale of said bonds in the improvement fund, the City Treasurer
shall forthwith transfer the sum of $2,376,400 from said fund
into a special reserve fund, which shall be designated by the
name and/or number of the improvement or assessment district. The
money in said special fund shall be administered by the City
Treasurer in accordance with and pursuant to the provisions of
Part 16 of the Improvement Bond Act of 1915, provided only that
proceeds from (1) investment of moneys in the reserve fund and (2)
redemption or sale of the properties with respect to which payment
of delinquent assessments and interest thereon was paid from the
reserve fund, shall be credited to the reserve fund only to the
extent that the amouat credited to the reserve fund will not re-
sult in the bonds becoming "arbitrage bonds" as defined in Section
103 (c) of the Internal Revenue Code of 1954, as amended, and
regulations promulgated by the United States Department of the
Treasury thereunder. TO the extent that such proceeds, or any
portion thereof, would cause the bonds to become "arbitrage bonds"
if credited to the reserve fund and invested at a higher yield
than permitted by said Section 103
such proceeds, or portion thereof,
assessments, provided only that in
(c) and said regulations, then
shall be credited upon the
the event crediting of any por-
tion of such proceeds upon assessments not theretofore paid in
full in cash would result in moneys in the bond redemption fund
remaining therein for a period of more than twelve (12) months,
then any portion of such proceeds which would otherwise remain in
the bond redemption fund for a period of more than twelve (12)
months shall be used to call bonds prior to their maturity date on
the earliest call date next succeeding the deposit thereof in the
redemption fund.
11. Collection of Unpaid Assessments. The unpaid
assessments shown on
on, shall be payable
serial maturities of
said list,
in annual
the bonds
together with the interest there-
series corresponding in number of
issued. An annual proportion of
each unpaid assessment shall be payable in each year preceding the
date of maturity of each of the several series of bonds issued,
sufficient to pay the bonds when due, and
unpaid assessment coming due in any year,
interest thereon, shall be payable in the
same time and in the same installments as
such proportion of each
together with the annual
same manner and at the
the general taxes on
real property are payable, and become delinquent at the same times
and in the same proportionate amounts and bear the same propor-
tionate penalties and interest after delinquency as do the general
taxes on real property. All sums received from the collection of
said unpaid assessments and of the interest and penalties thereon
shall be placed in the redemption fund provided for herein.
6
12. Redemption Prior to Maturity. Each bond outstanding
may be redeemed and paid in advance of maturity upon the second
day of March or September in any year by giving at least 60 days
notice and by paying the principal amount thereof together with a
premium equal to 3% of the principal plus interest to the date of
advanced maturity, unless sooner surrendered, in which event said
interest will be paid to the date of payment, all in the manner
and as provided in the Improvement Bond Act of 1915.
The City Treasurer shall call for redemption and retire
bonds upon prepayment of assessments in amounts sufficient there-
for, or whenever sufficient surplus funds are available therefor
in the redemption fund. In selecting bonds for retirement, the
lowest numbered bonds of the various annual maturities shall be
chosen pro rata in a manner intended to disturb as little as pos-
sible the relationship of unpaid assessments to bonds outstand-
ing.
13. Exchange of Bonds. Any bond, upon surrender thereof
at the principal office of the Agent, together with an assignment
duly executed by the registered owner thereof or his attorney or
legal representative in such form as shall be satisfactory to the
Agent, may, at the option of such owner, be exchanged for an
aggregate principal amount of bonds equal to the principal amount
of the bond so surrendered, and of any authorized denomination or
denominations.
The City shall make provision for the exchange of bonds
at the principal office of the Agent.
14. Negotiability, Registra~i0n and Transfer of Bonds.
The Agent shall keep books for the registration, and for the
registration of transfers, of bonds as provided in this resolution
which shall at all times be open to inspection by the City. The
transfer of any bond may be registered only upon such books upon
surrender thereof to the Agent together with an assignment duly
executed by the owner or his attorney or legal representative in
such form as shall be satisfactory to the Agent. Upon any such
registration of transfer the City shall execute and the Agent
shall authenticate and deliver in exchange for such bonds a new
bond or bonds registered in the name of the transferee, of any
denomination or denominations authorized by this resolution, and
in an aggregate principal amount equal to the principal amount of
such bond or bonds so surrendered.
In all cases in which bonds shall be exchanged the City
shall execute and the Agent shall authenticate and deliver at the
earliest practicable time bonds in accordance with the provisions
of this resolution. All bonds surrendered in any such exchange or
registration of transfer shall forthwith be cancelled by the
Agent. The City or the Agent may make a charge for every such
exchange or registration of transfer of bonds sufficient to reim-
burse it for any tax or other governmental charge required to be
paid with respect to such exchange or registration of transfer,
but no other charge shall be made to any owner for the privilege
of exchanging or registering the transfer of bonds under the pro-
visions of this resolution. Neither the City nor the Agent shall
be required to make such exchange or registration of transfer of
bonds during the 15 days immediately preceding any March 2 or
September 2.
15. Ownership of Bonds. The person in whose name any
bond shall be registered shall be deemed and regarded as the abso-
lute owner thereof for all purposes and payment of or on account
of the principal, and redemption premium, if any, of any such
bond, and the interest on any such bonds, shall be made only to or
upon the order of the registered owner thereof or his legal repre-
sentative. All such payments shall be valid and effectual to
satisfy and discharge the liability upon such bond, including the
redemption premium, if any, and interest thereon to the extent of
the sum or sums so paid.
redemption of the
unpaid assessment
tion.
16. Adyances from Available Surplus Funds. The City
shall be the purchaser of property upon which payment of an annual
installment of principal and interest due upon any of said unpaid
assessments is delinquent, in like manner in which it becomes or
may become the purchaser of property sold for the nonpayment of
general taxes, and shall transfer from available surplus funds
into the redemption fund for said bonds, as an advance recoverable
upon sale or redemption of the property, the amount of the delin-
quent unpaid assessment installment upon which said sale is made.
The City shall also pay and transfer from available surplus funds
into said redemption fund, as an advance recoverable upon sale or
property, the amount of any future delinquent
installments on such property pending redemp-
17. Investment of Funds. Moneys in the Redemption Fund
and the Improvement Fund shall, whenever practicable, be invested
in legal investments for the City of Bakersfield under applicable
law for the moneys held pursuant to this resolution at the time
when any of such moneys are to be invested therein. Any income
therefrom or interest thereon shall accrue to and be deposited in
the fund from which said moneys were invested.
18. Covenant to Foreclose. The City hereby covenants
with and for the benefit of the holders of the bonds that it will
order, and cause to be commenced within 150 days following the
date of delinquency, and thereafter diligently prosecuted, an
action in the superior court to foreclose the lien of any assess-
ment or installment thereof not paid when due, pursuant to and as
provided in Sections 8830 through 8835, inclusive, of the Streets
and Highways Code of the State of California, provided that the
alternative method of tax apportionment (Sections 4701 through
4717 of the California Revenue and Taxation Code) is no longer
applied by the County of Kern to special assessments, for which
9
bonds have been issued pursuant to the Improvement Bond Act of
1915, for any reason whatsoever.
19. Non-Arbitrage Covenant. The City hereby covenants
with the holders of the bonds that it will make no use of the pro-
ceeds of said bonds at any time during the term thereof which, if
such use had been reasonably expected on the date said bonds were
issued, would have caused said bonds to be arbitrage bonds within
the meaning of Section 103(c) of the Internal Revenue Code of
1954, as amended, and the Temporary and Proposed Treasury Regula-
tions promulgated thereunder.
20. Certificate as to Non-Arbitrage. On the basis of
the facts, estimates and circumstances now in existence and in
existence on the date of issue of said bonds, as determined by the
City Treasurer, said City Treasurer is authorized to certify that
it is not expected that the proceeds of said issue will be used in
a manner that would cause such obligations to be arbitrage bonds.
Such certification shall be delivered to the purchaser of said
bonds at the time of delivery of and payment for said bonds.
21. The Treasurer of said City is hereby authorized to
negotiate or cause to be negotiated the sale of such improvement
bonds.
22. The City will furnish the legal opinion of Richard
H. Hargrove approving the legality of the proceedings and the
issuance of such Donds.
23. Certified Copies. The City Clerk of said City shall
furnish a certified copy of this resolution to the Treasurer, the
Agent, and to the Auditor of the County of Kern.
......... o0o .........
I HEREBY CERTIFY that the foregoing Resolution was
passed and adopted by the Council of the City of Bakersfield at a
regular meeting thereof held on the 20t~ day of Auqust ,
1986, by the following vote:
AYES: COUNCILMEN: CHILDS, CHRISTenSEN, MOORE, SALVAGGIO, SMITH
10
NOES:
ABSENT:
ABSTAINING:
COUNCILMEN:
COUNCILMEN:
COUNCILMEN:
CITY CLERK and Ex Officio Clerk
of the Council of the City of
Bakersfield
APPROVED this 20th day of August
, 1986.
MAYOR of the City of Bakersfield
APPROVED as to form:
Bakersfield
]1
MODIFIED
ENGINEER' S REPORT
EXHIBIT "A"
CITY OF BAKERSFIELD ASSESSMENT DISTRICT NO. 86-2
ACQUISITION OF BUENA VISTA TRUNKLINE SEWEll SYSTEM
AND OF STAGE i-A RANCHO LABORDE PUBLIC IMPROYEMENTS
Assessment Number
Assessor's
Parcel Number
Assessment Number 1
APN 360-110-12-01-1
ASSESSMENT ROLL
Ovuer Preliminary Confirmed
Name/Address Assessment Assessment
La Barde Jean E. C. & Madonna P.
8900 Rasedale Hwy
Bakersfield CA 93308
$2,010,490.42
$2,367,686.43
Assessment Number 2
APN 360-110-14-00-8
La Barde Jean E. C. & Madonna P.
8900 Rasedale Hwy
Bakersfield CA 93308
$ 77,709.09 $ 77,709.09
Assessment Number 3
APN 360-110-52-00-8
La Barde Jean E.C. & Madonna P.
8900 Rasedale Hwy
Bakersfield, CA 93308
$ 42,263.16 $ 42,263.16
Assessment Number 4
APN 360-110-53-00-1
La Barde Jean E.C. & Madonna P.
8900 Rasedale Hwy
Bakersfield~ CA 93308
$ 82,231.93 $ 82,231.93
Assessment Number 5
APN 360-110-54-00-4
La Barde Jean & Madonna P.
8900 Rasedale Hwy
Bakersfield CA 93308
$ 36,233.76 $ 36,233.76
Assessment Number 6
APN 360-110-55-00-7
La Barde Jean E.C. & Madonna P.
8900 Rasedale Hwy
Bakersfield, CA 93308
$ 55,999.67 $ 55,999.67
Assessment Number 7
APN 360-130-01-01-5
La Barde Jean E.C. & Madonna P.
8900 Rasedale Hwy
Bakersfield, CA 93308
$1,423,934.71
$1,359,915.58
Assessment Number 8
APN 360-130-11-00-5
La Barde Jean E.C. & Madonna
8900 Rasedale Hwy
Bakersfield, CA 93308
$ 510,391.21 $ 744,130.26
A-I
Parcel Number
Assessment Number 9
APN 360-130-24-00-3
ASSESSMENT ROLL
OwDer
Name/Address
La Borde Jean E. C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
Preliminary
Aeeeeement
$ 119,513.39
Confirmed
Assessmen~
$ 182,585.73
Assessment Number 10
APN 360-130-25-00-6
Ls Borde Jean E. C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 634,929.44
$1,347,960.36
Assessment Number 11
APN 360-130-27-00-2
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 117,537.16
$ 126,583.42
Assessment Number 12
APN 360-130-28-00-5
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 23,599.79
$ 23,599.79
'k~sessment Number 13
APN 360-130-31-00-3
La Borde Jean & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 231,291.13
$ 231,291.13
Assessment Number 14
APN 360-130-32-00-6
County of Kern
1415 Truxtun Avenue
Bakersfield CA 93301
$ 0.00 $ 0.00
Assessment Number 15
APN 366-010-01-00-3
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 68,740.02
$ 83,554.54
Assessment Number 16
APN 366-010-02-00-6
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$3,855,273.72
$3,561,334.36
Assessment Number 17
APN 366-010-04-00-2
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 414,132.62
$ 765,785.41
Assessment Number 18
APN 367-030-11-00-5
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$2,493,204.41
$2,377,060.43
Assessment Number
Assessor*s
Parcel Number
Assessment Number 19
APN 367-040-06-00-4
ASSESSHENT ROLL
Name/Address
Pacific Gas & Electric
Attn: Land Dept.
77 Beale St.
San Francisco, CA 94106
SBE 135-15-13C
Preliminary
Assessment
Confirmed
Assessment
$ 0.00 $ 0.00
Assessment Number 20
APN 367-040-12-00-1
La Borde Jean E. C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 14,412.70
$ 14,412.70
Assessment Number 21
APN 367-050-02-00-5
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 487,663.50
$ 542,065.25
Assessment Number 22
APN 367-050-11-01-0
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$1,638,124.87
$ 593,373.65
Assessment Number 23
APN 367-480-01-00-7
La Borde Jean & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 54,084.85
$ 54,084.85
Assessment Number 24
APN 367-480-02-00-0
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 82,079.90
$ 82,079.90
Assessment Number 25
APN 367-490-01-00-0
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 44,990.26
$ 44,990.26
Assessment Number 26
APN 367-490-02-00-3
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 87,821.16
$ 87,821.16
Assessment Number 27
APN 367-490-03-00-6
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 78,963.67
$ 78,963.67
Assessment Number 28
APN 367-500-01-00-2
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 56,260.15
56,260.15
A-3
Assessment ~umber
Assessor's
Parcel Number
Assessment Number 29
APN 367-500-02-00-5
ASSESSMENT ROLL
Name/Address
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
Preliminary
Assessment
$ 67,312.09
Confirmed
Assessment
$ 67,312.09
Assessment Number 30
APN 367-510-01-00-5
La Borde Jean E. C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 69,099.32
$ 69,099.32
Assessment Number 31
APN 367-510-02-00-8
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 74,857.60
$ 74,857.60
Assessment Number 32
APN 367-510-03-00-1
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 38,445.22
$ 38,445.22
'As%essment Number 33
APN 367-520-01-00-8
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 41,916.56
$ 41,916.56
Assessment Number 34
APN 367-520-02-00-1
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 33,262.13
$ 33,262.13
Assessment Number 35
APN 367-530-01-00-1
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 101,347.17
$ 101,347.17
Assessment Number 36
APN 367-530-02-00-4
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 105,200.19
$ 105,200.19
Assessment Number 37
APN 367-540-01-00-4
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 103,821.23
$ 103,821.23
Assessment Number 38
APN 367-540-02-00-7
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield~ CA 93308
$ 118,114.85
$ 118,114.85
A-4
Assessment Number
Assessor°s
Parcel Number
Assessment Number 39
APN 367-550-01-00-7
ASSESSMENT ROLL
Name/Address
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
Prel£mlnary
Assessment
$ 84,383.85
Confirmed
Assessme~
$ 84,383.85
Assessment Number 40
APN 367-550-02-00-0
La Borde Jean E. C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 113,390.01
$ 113,390.01
Assessment Number 41
APN 367-560-01-00-0
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 37,623.36
$ 37,623.36
Assessment Number 42
APN 367-560-02-00-3
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 59,590.O9
$ 59,590.09
Assessment Number 43
APN 367-570-01-00-3
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 107,646.61
$ 107,646.61
Assessment Number 44
APN 367-570-02-00-6
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield. CA 93308
$ 102,836.70
$ 102,836.70
Assessment Number 45
APN 367-580-01-00-6
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 80,066.21
$ 80,O66.21
Assessment Number 46
APN 367-580-02-00-9
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
71,360.74
$ 71,360.74
Assessment Number 47
APN 367-590-01-00-9
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield, CA 93308
$ 64,874.18
$ 64,874.18
Assessment Number 48
APN 367-590-02-00-2
La Borde Jean E.C. & Madonna P.
8900 Rosedale Hwy
Bakersfield CA 93308
$ 58,624.70
$ 58,624.70
Assessment Number
Assessor's
Parcel Number
Assessment Number 49
APN 368-020-08-00-1
Assessment Number 50
APN 368-020-09-00-4
Assessment Number 51
APN 368-020-10-00-6
Assessment Number 52
APN 368-020-12-00-2
Assessment Number 53
APN 368-020-13-00-5
Assessment Number 54
APN 368-020-14-01-7
Assessment Number 55
APN 368-020-18-00-0
Assessment Number 56
APN 368-040-01-00-6
Assessment Number 57
APN 368-040-02-00-9
Assessment Number 58
APN 368-040-04-00-5
ASSESSMENT ROLL
Ovxler
Name/Address
Twisselmann ADA Revocable TR
8905 Langley RD
Bakersfield, CA 93308
Twisselmann ADA Revocable TR
8905 Langley RD
Bakersfield, CA 93308
Sunland Refining Corp.
P.O. Box 1345
Bakersfield, CA 93302
Pacific Gas & Electric
Attn: Land Dept.
77 Beale Street
San Francisco, CA 94106
SBE 135-15-13 PAR 3
Sunland Refining Corp.
P.O. Box 1345
Bakersfield. CA 93302
Gay Dean A ET AL
P.O. Box 524
Bakersfield CA 93302
Gay Dean A ET AL
P.O. Box 524
Bakersfield CA 93302
Sunland Refining Corp.
P.O. Box 1345
Bakersfield CA 93302
Suniand Refining Corp.
P.O. Box 1345
Bakersfield, CA 93302
Bartell Ruben C & Dorothy
Rt. 8 Box 1
Bakersfield CA 93309
A-6
Preliminary
Assessmemt
$ 26,894.86
$ 39,891.81
$ 481,880.79
Confirmed
Assessment
$ 26,894.86
$ 39,891.81
$ 481,880.79
$ 0.00 $ 0.00
$ 13,423.72
$ 62,185.10
$ 29,295.33
$ 13,921.62
$ 14,872.32
$ 2,502.53
$ 13,423.72
$ 52,303.08
$ 26,001.32
$ 13,921.62
$ 14,872.32
$ 2,502.53
Assessment Number
Asaessor°s
ParceI Number
Assessment Number 59
APN 368-040-12-00-8
ASSESSMENT ROLL
Name/Address
Suniand Refining Corp.
P.O. Box 1345
Bakersfield, CA 93302
Preliminary
Assessment
$ 35,614.82
Confirmed
Assessment
$ 35,614.82
Assessment Number 60
APN 368-040-13-01-0
Suniand Refining Corp.
P.O. Box 1345
Bakersfield, CA 93302
$ 40,415.75
$ 40,415.75
Assessment Number 61
APN 368-040-20-00-1
King, Ira N.
3500 Akers RD
Bakersfield, CA 93309
$ 3,979.03
$ 3,979.03
Assessment Number 62
APN 368-040-23-00-0
Assessment Number 63
APN 368-060-03-00-8
King, Ira M.
3500 Akers RD
Bakersfield, CA 93309
American S & L Assn.
22!) East Weber
Stockton, CA 95202
$ 11,391.77
$ 20,408.24
$ 11,391.77
$ 20,408.24
Assessment Number 64
APN 368-060-04-00-1
American S & L Assn.
229 East Weber
Stockton, CA 95202
$ 16,394.37
$ 16,394.37
Assessment Number 65
APN 368-060-05-00-4
American Savings & Loan Assn.
229 East Weber
Stockton, CA 95202
$ 20,932.17
$ 20,932.17
Assessment Number 66
APN 368-060-07-01-9
L. S. Blair & R. E. McDonald
4120 N. Valentine #113,
Fresno, CA 93711
$ 0.00 $ 0.00
Assessment Number 67
APN 368-070-01-00-5
Suniand Refining Corp.
P.O. Box 1345
Bakersfield, CA 93302
$ 7,103.06
$ 7,103.06
Assessment Number 68
APN 368-070-02-00-8
Suniand Refining Corp.
P.O. Box 1345
Bakersfield, CA 93302
$ 49,467.63
$ 49,467.63
A-7
Assessment Number
Assessor's
P&rcel Number
Assessment Number 69
APN 369-030-01-00-0
Assessment Number 70
APN 369-030-02-01-2
Assessment Number 71
APN 369-030-03-00-6
Assessment Number 72
APN 369-030-04-00-9
Assessment Number 73
APN 369-030-05-01-1
Assessment Number 74
APN 369-030-06-01-4
Assessment Number 75
A?N 369-030-10-01-5
Assessment Number 76
APN 369-030-17-01-6
Assessment Number 77
APN 369-050-18-00-6
Assessment Number 78
APN 369-050-26-00-9
ASSESSMgNT ROLL
O~mer
Name/Address
Tenneco Realty Dev. Corp.
P.O. Box 9380
Bakersfield, CA 93389
Rich & Associates
6317 Royal Coach Dr.
Bakersfield, CA 93306
Presidio Savings & Loan Assn.
4800 Easton Dr.
Bakersfield, CA 93309
Twlsselmann Ada Revocable TR
8905 Langley RD
Bakersfield, CA 93308
Bartell Ruben C.
Rt. 8 Box 1
Bakersfield, CA 93309
Pacific Gas & Electric
Attn: Land Dept.
77 Beale Street
San Francisco, CA 94106
SBE 135-15-8A PAR 1-2
Bartell Ruben C.
Rt. 8 Box 1
Bakersfield, CA 93309
Williams Gertrude
1408 Eighteenth St.
Bakersfield, CA 93301
Caltree Inc.
P.O. Box 5733
Oildale, CA 93308
Tenneco West Inc.
P.O. Box 9380
Bakersfield, CA 93389
A-8
Preliminary
Assessment
$ 295,747.36
$ 132,696.63
$ 149,696.97
$ 30,534.74
$ 100,161.52
Confirmed
$ 295,747.36
$ 132,696.63
$ 149,696.97
$ 30,534.74
$ 100,161.52
$ 0.00 $ 0.00
$ 23,145.70
$ 65,695.18
$ 13,704.62
$ 33,392.90
$ 23,145.70
$ 65,695.18
$ 13,704.62
$ 33,392.90
FEE AGREEMENT
Contract NO.
86-ZZ1
THIS AGREEMENT, made and entered into this _j~h day of
November 1986, between the CITY OF BAKERSFIELD,
hereinafter called "CITY" and BANK OF AMERICA NATIONAL
TRUST AND SAVINGS ASSOCIATION, a national banking
association, hereinafter called "BANK".
WHEREAS, CITY has authorized and may from time to
time issue Various Local Improvement Bond issues and
authorize and issue additional bonds and wishes BANK to
act as Agent to register, transfer ownership and pay
principal and interest on said bonds.
CITY may from time to time include other bond issues
under the terms of this Agreement.
CITY as a Registrar, Transfer Agent, and Paying
Agent, wishes to register, transfer ownership and pay said
bonds and additional bonds and interest thereon.
1. CITY hereby appoints BANK its Agent to
register, transfer ownership and pay bonds and interest
thereon.
2. CITY will, on or before the date bonds and
interest is to be paid, deposit immediately available funds
with the Corporate Agency Division of BANK in San
Francisco; otherwise BANK will not be required to make any
disbursement.
3. BANK will cause all of said bonds to be honored
in accordance with their terms for registration, transfer of
ownership or payment at maturity or when by their terms they
otherwise become payable upon presentation to BANK.
BANK will hold and apply any monies deposited.
4. CITY will deliver or cause to be delivered to the
BANK, at least six (6) days prior to the original issue
date of the bonds the following documents:
Original issuance instructions
Supply of bond certificate(s)
Specimen bond certificate(s)
Certified bond resolution(s)
Bond legal opinion(s)
Debt service schedules
from Underwriters
EXHIBIT "B"
5. CITY will pay to BANK fees as set forth below:
INITIAL ACCEPTANCE FEE: (per issue)
$500.00
Set up original issue by separate maturities and
rates and prepare bonds for delivery for closing.
ANNUAL ADMINISTRATION FEE: (billed annually)
For each issue:
$500.00
REGISTRAR MAINTENANCE AND SERVICING FEE:
(billed semiannually)
Annual minimum (per issue)
$500.00
This fee includes the Annual Maintenance of and
servicing of 100 bondholder accounts or any
portion thereof; solicitation of taxpayer
identification numbers; postings; semiannual
interest disbursement; stop payment and
replacement of lost or missing interest checks;
correspondence and research required, documentary
transfers; replacement of lost or stolen bonds;
and one bondholder list.
Should the annual bondholder account base exceed
100 accounts, then in addition to the minimum
annual maintenance and servicing fee of $500.00,
a charge of $5.00 per bondholder account will be
charged for the excess of 100 bondholder accounts.
Issuance, Registration or Transfer
Each bond:
Payment of bonds upon maturity or call
Each bond:
Bondholder list over one - each holder:
Minimum charge per list:
$ 1.50
$ 3.00
$ .05
$ 75.0O
The above fees are quoted on the basis that
float accrues to the benefit of the Trustee.
Any change in this understanding may result
in adjustments to the proposal.
MAILINGS - PREPARE LABELS:
Label production - each:
Minimum charge:
Mail processing by machine - each:
Mail processing by hand - each:
Minimum charge:
WIRE PAYMENTS (if applicable)
$ .05
$ 50.00
$ .10
$ .25
$ 75.00
Each payment: $ 20.00
SINKING FUND AND REDEMPTION: (if applicable)
Selection of bonds for redemption and
preparation of Notice of Redemption:
$500.00
Purchase of bonds for retirement
Each purchase:
$ 75.00
ANNUAL ADMINISTRATION FEE FOR RESERVE FUND:
(if applicable)
Per Reserve Fund:
$100.00
INVESTMENT OF FUNDS: (if applicable)
Each Transaction:
If directed by other than trustee:
$ 75.00
$150.00
Each investment other than Bank of America
issued securities or Bank of America
Certificates of Deposit. This service
charge will cover costs of placement of an
investment, settlement, safekeeping of the
security, collection of interim interest
and the costs of redemption.
TAX REPORTING: {if applicable)
Filing of tax forms, each form
$ 1.5O
BOND INSURANCE: (if applicable)
$500.00
Set up and annual maintenance of policy.
OUT-OF-POCKET EXPENSE:
Fees do not include out-of-pocket expenses such as, but not
limited to, counsel fees, postage, insurance,wires,
stationery, costs of printing forms or letters, publication
of notices of redemption, expenses of BANK personnel
travelling to attend closings or meetings, etc. These
out-of-pocket expenses will be charged at the actual cost
incurred.
ADDITIONAL SERVICES:
The above schedule of fees are for the ordinary services in
connection with the items mentioned, and should BANK be
called upon to render any additional services in connection
with the items mentioned or any services not set forth in
the above schedule, or services during default, a reasonable
charge depending upon the services rendered will be made.
MICROFILMING OF CANCELLED BONDS:
BANK shall retain cancelled bonds for a period of twelve
months for the purpose of facilitating research, after which
time they shall either be returned to the Issuer or sent to
a commercial record storage warehouse selected by the
Issuer. If cancelled bonds are to be microfilmed, the
cancelled bonds and all supporting documentation are to be
sent to a microfilm service bureau for filming. An original
and a duplicate. copy of the film will be retained by the
BANK for research purposes and all documents will be sent
to the BANK'S record destruction facility. The microfilm
service bureau will bill the Issuer directly with a copy to
the BANK. BANK will charge the Issuer 15% of the
microfilm service bureau's bill as a processing charge (for
handling, coordination, file certification, and
destruction).
6. The foregoing schedule is subject to change upon
providing at least ninety (90) days advance written notice.
7. BANK will submit its statement for fees and
expenses due BANK, and CITY will pay said statement in
accordance with Paragraph 2 of this Agreement. Statements
for fees and expenses unpaid after 30 days are subject to a
handling charge of 2% per month.
8. All notices, documents and other correspondence
will be mailed or delivered to BANK at Bank of America,
Securities Services Division, Corporate Trust Administration
#8510, 555 South Flower Street, 5th Floor, Los Angeles, CA
90071 and to CITY at 1501Truxtun Avenue, Bakersfield, CA 93301
or to such ot~-er address as either party shall from time to
time indicate in writing to the other.
9. CITY upon ninety (90) days written notice to
BANK, may terminate this Agreement.
10. BANK upon ninety (90) days written notice to
CITY, may terminate this Agreement.
THE TERMS AND CONDITIONS OF THIS Agreement are intended
for the mutual benefit of CITY and BANK exclusively, and
are not intended to give any third party any right or claim,
contractual or otherwise, hereunder.
IN WITNESS
presents to be
written.
WHEREOF, the parties have caused these
duly executed, the day and year first above
CITY OF BAKERSFIELD
Approved as to form:
ic~h~r~erholzer~---"
City Attorney
Title Mayor of the City of Bakersfield
T itl/~e ~i a~nce Director .....
BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION
T i~~ '~ ~ f kTRUSI OFFICE~ ~
7518A3