HomeMy WebLinkAbout1992-06-23 - RESOLUTIONS - ASMT DIST 92-2 GVR (4)29162-02 1HHW:DJO:brf 5/15/92
RESOLUTION NO. 92-98
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA
DETERMINING UNPAID ASSESSMENTS, AUTHORIZING ISSUANCE OF
BONDS AND PROVIDING FOR EXECUTION OF FISCAL AGENT
AGREEMENT WITH RESPECT THERETO
CITY OF SANTA CLARITA
ASSESSMENT DISTRICT NO. 92-2
(Golden Valley Road)
WHEREAS, on April 21, 1992, this Council passed and adopted Resolution of Intention
No. 92-81 (the 'Resolution of Intention") relating to the acquisition and/or construction of public
improvements under and pursuant to the provisions of the Municipal Improvement Act of 1913.
By said Resolution of Intention, this Council provided that serial and/or term bonds would be
issued thereunder pursuant to the provisions of the Improvement Bond Act of 1915, Division 10 of
the Streets and Highways Code of California and reference to said Resolution of Intention is
hereby expressly made for further particulars;
WHEREAS, notice of recodation of the assessment and the right to have thirty (30) days
or any other period within which to pay assessments in cash has been duly waived, and a list of all
assessments which remain unpaid has been filed with the City; and
WHEREAS, the Council duly considered said list and determined that the same was an
accurate statement thereof.
NOW, THEREFORE, BE IT RESOLVED, by the City Council (the "Council") of
the City of Santa Clarita, California (the "City") as follows:
Section 1. Unpaid Assessments. The assessments now remaining unpaid are as
shown on said list of unpaid assessments and on Exhibit "A" attached hereto and by this reference
made a part hereof; the aggregate amount thereof is $meq„ 369 r 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, and any amendments thereto,
recorded in the office of the Superintendent of Streets of the City after confirmation thereof by the
Council.
Section 2. Issuance of Bonds. The bonds shall be issued in the aggregate principal
amount or amounts as hereinafter provided upon the security of said unpaid assessments and the
proceedings heretofore taken with respect to said Resolution of Intention. The bonds shall be
issued, from time to time, in such series, being one or more, at such rate or rates of interest, in
such form or forms, at such maturities and upon such provisions, covenants and conditions, all of
which shall be as specified by the City pursuant to the terms of one or more Fiscal Agent
Agreements to be executed by the City in furtherance of the issuance of the bonds hereby
authorized. In the event that more than one series of bonds is authorized, the City, at its election,
�., may authorize such series by one or more Fiscal Agent Agreements and shall hereby preserve the
right to issue bonds upon the security of any assessments unpaid for which bonds are not issued
pursuant to such Fiscal Agent Agreement or Agreements; provided, however, no such bonds shall
be authorized in excess of the total aggregate amount of said unpaid assessments hereinabove
specified.
P1„ Section 3. Designation of Agen . The fiscal agent shall be as designated in the
Fiscal Agent Agreement to act as the Fiscal Agent to perform the actions and duties required under
the Fiscal Agent Agreement for the authentication, transfer, registration, and payment of the bonds.
The Finance Director of the City is hereby authorized and directed to enter into agreements with the
Fiscal Agent in furtherance of the actions and duties of the Fiscal Agent under this Resolution and
the Fiscal Agent Agreement for such authentication, transfer, registration and payment of the
bonds.
Section 4. AnAroval and Authorization of Fiscal Agent ALyreement. The
Fiscal Agent Agreement, in the form this day presented to this Council, which Agreement
provides, in substance, for the provisions of the issuance and payment and covenants relating to
the bonds or the series thereof, is hereby approved. The Finance Director of the City is hereby
authorized and directed to execute the Fiscal Agent Agreement on behalf of the City, with such
changes thereto as may be approved by the Bond Counsel to the City with respect to the
proceedings for said assessments for the purposes of the issuance of the bonds, the approval of
such changes to be conclusively evidenced by the execution of the Fiscal Agent Agreement by the
Finance Director. The Fiscal Agent Agreement may provide for the issuance of one or more series
of bonds in and for said assessment district.
PASSED AND ADOPTED by the City Council of the City of Santa Clarita at a regular
meeting held on the 23rd day of June 1992.
r 1
ATT T:
MAYOR
ITY CLER
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council
of the City of Santa Clarita at a regular meeting thereof, held on the 23rd day of June
1992, by the following vote of the Council:
AYES: COUNCILMEMBERS Boyer, Darcy, Beidt, Pederson, Rlajic
NOES: COUNCILMEMBERS None
ABSENT: COUNCILMEMBERS None
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I IN I "� , W; Is /
EXHIBIT "A„
EXHIBIT "A"
SUMMARY COST ESTIMATE
(Phases I and R)
Preliminary
Cost of Construction
$
9,499,378
Project Incidentals
$
2,055,142
General Incidentals
$ 1,297,529
Total Costs
$
12,852,049
Capitalized Interest
$
575,465
Bond Reserve
$
1,534,573
Bond Discount
$
383,643
Amount to Assessment
$
15,345,730
SUMMARY COST ESTIMATE
(Phase I)
=..A
Cost of Construction $ 9,187,477
Project Incidentals
$ 1,964,681
General Incidentals
$ 1,001,650
Total Costs
$ 12,153,808
Capitalized Interest
$ 544,200
Bond Reserve
$ 1,451,201
Bond Discount
$ 362,800
Amount to Assessment
$ 14,512,009
City of Santa Clarita
Amount as
Changed and
Modified
$ 8,305,656
$ 2,133,458
$ 517,650
$ 10,956,764
$ 1,616,572
1,436,953
359,237
$ 14,369,526
Amount as
Changed and
Msdifir�
$ 8,033,393
$ 2,059,789
$ 413,175
$ 10,506,357
$ 1,550,118
1,377,883
344,471
$ 13,778,829
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Cost of Construction
Project Incidentals
General Incidentals
Total Costs
Capitalized Interest
Bond Reserve
Bond Discount
Amount to Assessment
EXHIBIT "A"
SUMMARY COST ESTIMATE
(Phase 11)
4n.
$ 311,901
City of Santa Clarita
Amount as
Changed and
Modified
$ 272,263
$ 90,461 $ 73,669
$ 295.879 $ 104.475
$ 698,241 $ 450,407
$ 31,264 $ 66,454
$ 83,372 59,070
$ 20844 14.766
$ 833,721
590,697
For particulars of the individual assessments and their descriptions, reference is made to the
Assessment Roll (see Exhibit "C).
o All costs and expenses of the Works of Improvement have been assessed to all parcels of land
within the District in a manner which is more clearly defined in the Method of Assessment
Note: The amounts to assessment do not include the annual City administration costs. A maximum
annual amount equal to $10,000 will be assessed to the parcels in the district on the basis of 17.98
per unit per year.
WM,LDAN ASSOCIATES
Richard Kopecky
Engineer of Worst
City of Santa Clarita
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