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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 2 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. 3 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