HomeMy WebLinkAboutCC Resolution 9015 (Peacock Gap Reassessment District)RESOLUTION NO. 9015
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SAN RAFAEL APPROVING AGREEMENT
WITH MUNI FINANCIAL SERVICES, INC. ("MFS")
(PEACOCK GAP REASSESSMENT DISTRICT)
The City Council of the City of San Rafael resolves:
As part of the proceedings in the issuance of refunding
bonds in the Peacock Gap Reassessment District, City of San
Rafael, Marin County, California, this City Council has entered
into an agreement with MUNI FINANCIAL SERVICES, INC. ("MFS") for
the preparation of the Reassessment Report.
The City Council hereby approved said agreement by and
between the CITY OF SAN RAFAEL and MUNI FINANCIAL SERVICES, INC.
("MFS"), dated July 26, 1993, and attached to this resolution.
The Mayor is authorized to sign the agreement and the
City Clerk is authorized to attest its execution.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael,
California, hereby certify that the foregoing resolution was duly
and regularly introduced and adopted at a regular meeting of the
Council of said City held on the 7th day of September, 1993, by
the following vote, to wit:
AYES: COUNCILMEM3ERS: Breiner, Cohen, Shippey, Thayer & Mayor Boro
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
SF2-20566.1
J . LEONCT.NY, City Clerk
ORIGINAL
�9�5
IFS
Muni Financial Services. Inc.
CORPORATE OFFICE
38-6i Single Oak Dri%e. Second Floor
Temecula. CA 93i9O-3661
( 909) 699-3990 FA.N ( 909) 699-3-j60
NORTHER\ REGION
i-3- Buchanan. Suite 303
_San Francisco. CA 9-4133-1779
1-4131 141.3;3(1 FAX (Ali)++1-1-401
July 26, 1993
Mr. Lloyd Strom
Assistant Director of Public Works
City of San Rafael
1400 Fifth Ave.
P.O. Box 151560
San Rafael, CA 94915-1560
RE. Agreement to Provide Assessment District Reassessment Report
Dear Mr. Strom:
Thank you for the opportunity to provide this contract to perform the Special
District Reassessment Report for the refunding of the Peacock Gap Assessment District.
The report shall be prepared according to the requirements set forth in Division 11.5 of
the Streets and Hiohways Code of the State of California. Please sign and return one
copy of this contract at your earliest convenience.
REPORT CONTENTS
1. MFS. Inc. shall prepare a District Debt Service Schedule setting forth the
unpaid principal and interest on the bonds to be refunded and the total
amounts thereof.
2. MFS, Inc. shall prepare a Cost Estimate including the total estimated principal
amount of the reassessment and of the refunding bonds and the maximum
interest rate 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.
a Leaders in Puhl1C Finance Aclministration CC)PY
City of San Rafael
Page Two
3. MFS, Inc. shall prepare the Auditor's Record kept pursuant to Section 8682
showing the schedule of principal installments and interest on all unpaid
original assessments and the total amounts thereof.
4. MFS, Inc. shall prepare an estimated amount of each reassessment, identified
by reassessment number corresponding to the reassessment number on the
reassessment diagram, together with a proposed Auditor's Record for the
reassessment prepared in the manner described in Section 8682.
5. MFS, Inc. shall prepare a table listing the names and addresses of the
property owners as they appear on record at the County of Solano.
6. MFS, Inc. shall prepare a declaration stating the method of reassessment.
7. MFS, Inc. shall prepare a Reassessment Diagram showing the reassessment
district and the boundaries and dimensions of the subdivisions of land within
the district. Each subdivision shall be given a separate number upon the
diagram.
PROFESSIONAL SERVICES FEE
The fee to prepare the Reassessment Report is $10,000.00 plus customary out of
pocket expenses.
ABANDONMENT
In the event that this project is abandoned prior to its completion, the Agency will
pay MFS a fee equal to the reasonable value of its services. Reasonable value shall be
determined by using the then current hourly rates for our services or the percent
completion of the project, whichever is lowest.
The project may be abandoned at any time by the Agency. MFS may cancel its
obligation under this Agreement by providing thirty days notice in writing to -the Agency.
MFS
City of San Rafael
Page Three
In the event of litigation or arbitration between the parties over the terms or
performance of this agreement, the prevailing party shall be entitled to reasonable
attorneys fees and costs.
Payment for the services rendered pursuant to this Agreement shall be made
within thirty (30) days of the submittal of an MFS invoice.
ACCEPTED:
MUNI FINANCIAL SERVICES, INC. ("MFS")
By: -
Harry Clark
Managing Director
July 26, 1993
CITY OF SAN RAFAEL
Date:
AlertBoro, M9yor
KASNRAFAEUREFI\CONTRACT.DOC ATTEST:
Je � M. Leoncini`,, City C erk