Resolution 10919CITY OF ALAMEDA
RESOLUTION NO. 10919
A RESOLUTION OF INTENTION
TO LEVY REASSESSMENTS AND TO ISSUE
REFUNDING BONDS UPON THE SECURITY THEREOF
MARINA VILLAGE ASSESSMENT DISTRICT NO. 84 -3
(Reassessment & Refunding of 1986)
RESOLVED, by the City Council of the City of Alameda (the "City "),
County of Alameda, California, that the public interest, convenience and
necessity require, and that it intends to order the levy reassessments as
security for refunding of the bonds, originally issued under proceedings
taken pursuant to Resolution of Intention No. 10421, adopted on August 21,
1984, and designated "Improvement Bonds, City of Alameda, Marina Village
Assessment District No. 84 -3" and issued in two series, Series 85 -1, dated
February 4, 1985, in the aggregate principal amount of $15,300,000 and
Series 85 -2, dated October 30, 1985, in the aggregate principal amount of
$9,100,000 (the "Prior Bonds ").
1. The proceedings for the levy and collection of reassessments as
security for the issuance and payment of refunding bonds shall be conducted
pursuant to the Refunding Act of 1984 for 1915 Improvement Act Bonds,
Division 11.5 (commencing with Section 9500) of the California Streets and
Highways Code (the "Act ").
2. Said contemplated reassessments and refunding, in the opinion of
this City Council, are of more than local or ordinary public benefit, and
the costs and expenses thereof are made chargeable upon the Marina Village
Assessment District No. 84 -3, the exterior boundaries of which are shown on
a map thereof entitled "Amended Proposed Boundaries of Marina Village
Assessment District No. 84 -3" filed on August 7, 1984, in the office of the
City Clerk, and on September 18, 1984, in the office of the County Recorder
of the County of Alameda in Book 2 of Maps of Assessment Districts at pages
201 -202, to which reference is hereby made for further particulars. Said
map indicates by a boundary line the extent of the territory included in
said assessment district and shall govern for all details as to the extent
thereof.
3. This Council declares that all public streets, highways, lanes
and alleys within said assessment district in use in the performance of a
public function, and all lands owned by any public entity, including the
United States and the State of California, or any departments thereof, shall
be omitted from the reassessment hereafter to be made to cover the costs and
expenses of said refunding.
4. Said reassessment and refunding are hereby referred to John
Heindel, Consulting Civil Engineer, Saratoga, California, a competent firm
employed by this City for the purpose hereof, and said firm is hereby
directed to make and file with said Clerk a report in writing, presenting
the following:
(a) A schedule setting forth the unpaid principal and interest
on the Prior Bonds to be refunded and the total amounts thereof.
(b) The total estimated principal amount of the reassessment and
of the refunding bonds and the maximum interest 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 Section 9600 of the Act).
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(c) The auditor's record kept pursuant to Section 8682 of the
California Streets and Highways Code showing the schedule of principal
installments and interest on all unpaid original assessments and the
total amounts thereof.
(d) The estimated amount of each reassessment, identified by
reassessment number corresponding to the reassessment number of the
reassessment diagram, together with a proposed auditor's record for
the reassessment prepared in the manner described in said Section
8682.
(e) A reassessment diagram showing the assessment district and
the boundaries and dimensions of the subdivisions of land within the
district. Each subdivision, including each separate condominium
interest as defined in Section 783 of the Civil Code, shall be given a
separate number upon the diagram.
When any portion or percentage of the costs and expenses of said
refunding and reassessment is to be paid from sources other than
reassessments, the amount of such portion or percentage shall first be
deducted from the total estimated cost and expenses of said refunding and
reassessment, and said reassessments shall include only the remainder of the
estimated cost and expenses.
5. If any excess shall be realized from the reassessment it shall be
used, in such amounts as this Council may determine, in accordance with the
provisions of law, in a manner or manners to be provided in these .
6. John Heindel, Consulting Civil Engineer is hereby designated as
the person to answer inquiries regarding the to be had herein, and may be
contacted during regular office hours at P.O. Box 3452, Saratoga,
California, 95070, or by calling (408)741 -0159.
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7. Notice is hereby given that serial bonds to represent said
reassessments, and bear interest at the rate of not to exceed twelve percent
(12 %) per annum, or such higher rate of interest as may be authorized by
applicable law at the time of sale of such bonds, will be issued hereunder
in the manner provided by the Act, the last installment of which bonds shall
mature not to exceed nineteen (19) years from the second day of September
next succeeding twelve (12) months from their date.
8. The provisions of Part 11.1 of Division 10 of the Streets and
Highways Code, providing for an alternative procedure for the advance
payment of assessments and the calling of bonds, shall apply to bonds issued
pursuant to paragraph 7 above.
9. Reference is hereby made to proceedings heretofore had pursuant
to Division 4 of the Streets and Highways Code with respect to the Prior
Bonds which are on file in the office of said Clerk.
10. It is the intention of this City Council to create a special
reserve fund pursuant to and as authorized by Part 16 of Division 10 of the
California Streets and Highways Code with respect to the refunding bonds.
11. The firm of Jones Hall Hill & White, a professional law
corporation, San Francisco, California, is hereby appointed as bond counsel
for the purpose of said reassessment and refunding. The fee of said law
firm shall be fixed in said and shall be paid only upon the successful
completion of said proposed reassessment and refunding.
12. The firm of Stone & Youngberg is hereby designated managing
underwriter for purposes of the proposed refunding.
13. It is further the intention of this Council to consider and adopt
appropriate proceedings of change and modification to said Resolution of
Intention No. 10421 to provide for the issuance of further bonds, from time
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to time, as necessary to complete the acquisitions and improvements
described therein, all upon the security of reassessments to be accomplished
in these proceedings and to provide for the amendment of the City
Cooperation Agreement by and among the City of Alameda, Alameda Marina
Village Associates and Alameda Marina Center Associates, dated December 18,
1984, to increase the amount of assessment lien provided therein from
$38,000,000 to $40,000,000.
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I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 3rd of June, 1986,
by the following vote to wit:
AYES: Councilmembers Corica, Hanna, Lucas, Monsef and President Diament - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 4th day of June, 1986.
City er of the City of Alameda