HomeMy WebLinkAboutD-1423 Apn 002-325-001 864 Santa Rosa (Recreation Center) Recorded 12/27/1990.RECORDING REQUESTED II* •
SE)RITY UNION TITLE INWKE COMPANY DOC.,NtO. 86218
AND WHEN RECORDED MAIL THIS DEED AND. UNLESS OTHER. OFFICIAL REDS
WISE SHOWN BELOW. MAIL TAX STATEMENTS TO:
SAN LUIS OBISPO Co., CA
NAMC CITY OF SAN LUIS OBISPO DEC 2 t 1990
ACtIRCSS CAPITAL IMPROVEMENT BOARD FRANCIS M. COONEY
CITY s 990 Palm Street
STATE County Clerk - Retarder
zP II S--an Luis Obispo, CA 931+03 -8100 J TIME 8:00 AM
LAttn: Linda Asprion
Title Order No,54,L3 . "Z Escrow No.
APN 002,325,001
Corporatio
n
t
SPACE ABOVE THIS LINE FOR RECORDER'S USE
FILED t�:mPT OUAOr
STTE
Grant Deed
The undersigned declares that the documentary transfer tax is S............0 .-*** ......................... _ ............ - ........ .... and is
❑ computed on the full value of the interest or property conveyed, or is
❑ computed on the full value less the value of liens or encumbrances remaining thereon at the time of sale. The land,
tenements or realty is located in
❑ unincorporated area ® city of ......... SM11 M. 0131SM ................................. ............................... and
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
RE CITY OF SAN LUIS OBISPO, a Charter City and Mnicipal Corporation duly organized and existing
trlder the Constitution and Laws of the State of California
hereby GRANT(S) to
THE CITY OF SAN LUIS OBISPO CAPITAL INPRINEMU BOARD, a Public Body Corporate and Politic duly
organized and existing wider Ordinance No. 1059 (1986 Series)
the following described real property in the City Of San Luis Obispo
County of San LUIS Obispo , state of California:
Lots 1 and 2 in Block 32 of the City of San Luis Obispo, in the City of San Luis Obispo,
Canty Of San Luis Obispo, State OF California, according to map filed in Book A, Page
16B of fts.
*** Transferred by Mnicipality, therefore ncl tra sFei tax is due.
Dated DeOBlber 20. 1990
STATE OF CALIFORNIA
COUNTY OF
San Luis Obispo ss
On December before me, the undersigned
Notary Public in and for said State, personally appeared
John Dunn and
Pam Voges
personally known to me or proved to me on the basis of satisfactory
RI1MW�Lt� evidence to be the person(s) who executed the within instrument as the
n1 and as the city (' FA 2000M
on behalf of the thereLn nAm and acknowledged to me that
such corporatio M'i �hln& t pursuant to its by -laws
or a resolution of its board of directors.
i
Signature
FOR NOTARY SEAL OR STAMP
OFFICIAL SEAL
MARILYN PERRY
` ` o Notary Pub!ic - CcOomia
Principal Office in
San Luis Obispo County
My Comm. Expires on Aug. 19, 1991
MAIL TAX STATEMENTS TO PARTY SIIOWN ON FOI.I.OVi'ING LINE.: IF NO PARTY SO SHOW`, MAIL. AS DIRECTED ABOVE.
Name Street Address D 423 City 8 State
Stock No. CAL-002/SU (5-88) VOL 3626PACE204
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2902611 ]HHW:CFA:jaj • 11/14/90
RESOLUTION NO. 6900
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO APPROVING THE SALE OF MUNICIPAL LAND AND
IMPROVEMENTS TO THE CITY OF SAN LUIS OBISPO CAPITAL
IMPROVEMENT BOARD AND THE LEASE OF SUCH LAND
IMPROVEMENTS BACK FROM SUCH BOARD, APPROVING RELATED
AGREEMENTS, OFFICIAL STATEMENT AND COMPETITIVE SALE OF NOT
TO EXCEED $4;500,000 CERTIFICATES OF PARTICIPATION
WHEREAS, the City of San Luis Obispo (the "City ") is currently proceeding to finance
the costs of various municipal improvements, consisting of the acquisition of land for open space
purposes, the acquisition of land to be used as the site of a fire station, and the renovation and
rehabilitation of the recreation center of the City (the "Pi oject "); and
WHEREAS, the City of San Luis Obispo Capital Improvement Board (the "Board ") has
been formed for the purpose of assisting the City in financing the acquisition, construction and
improvement of property which is of benefit to the City; and
WHEREAS, to accomplish such financing of the Project, the City has proposed to sell
such recreation center facilities (the "Facilities ") to the Board pursu nt to the Acquisition
Agreement dated as of December 1, 1990, (the "Acquisition Agreement "d to lease the Facilities
and such fire station site fromBoard pursuant to the Lease Agreement dated as of December 1,
1990 (the "Lease Agreement ")', d -hv, &,.e cv-L,_&d. y /9,5 re ,,.r, e n t
WHEREAS, for the purpose of obtaining the moneys required to finance the acquisition
of the Facilities under the Acquisition Agreement, the Board proposes to assign and transfer certain
of its rights under the Lease Agreement to a trustee bWk (the "Trustee ") pursuant to that certain
Assignment Agreement dated as of December 1, 1990, by and between the Board and the Trustee;
and
WHEREAS, in consideration of such assignment and the e cution of that certain Trust
Agreement dated as of December 1, 1990, (the 'Trust Agreement ")�y and among the Board, the
City and the Trustee, the Trustee will execute and deliver Certificates of Participation in the
principal amount of not to exceed $4,500,000 (the "Certificates of Participation "), each evidencing
an undivided fractional interest in the Lease Payments made by the City under the Lease
Agreement; and c-� "a
WHEREAS, the City and the Board have determined to sell the Certificates of
Participation at competitive sale, and the firm of Evensen Dodge, Inc. (the "Financial Adviser ") is
assisting the City and the Board in such sale of the Certificates of Participation and has caused to
be prepared an Official Statement describing the Certificates of Participation, to be used in
connection with such sale; and
WHEREAS, the City Council approves of said transactions as being in the public
interests of the City;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San
Luis Obispo as follows:
VOL 3626PAGE205
D Lnn n
SECTION 1. Sale of Facilities; Approval of Acquisition Agreement. The City
Council hereby approves the sale of the Facilities by the City to the Board pursuant to, and subject
to the terms and conditions of, the Acquisition. Agreement in substantially the form on file with the
City Clerk, together with any changes therein or additions thereto deemed advisable by the City
Administrative Officer, whose execution thereof shall be conclusive evidence of his approval of
such changes and additions. The Board hereby authorizes and directs the City Administrative
Officer to execute, and the City Clerk to attest and affix the seal of the City to, said form of the
Acquisition Agreement for and in the name of the City.
SECTION 2. Lease of Facilities and Fire Station Site; Approval of Lease
Agreement. The City Council hereby approves the lease of the Facilities and fire station site by
the City from the Board pursuant to, and subject to the terms and conditions of, the Lease
Agreement in substantially the form on file with the City Clerk, together with any changes therein
or additions thereto deemed advisable by the City Administrative Officer, whose execution thereof
shall be conclusive evidence of his approval of such changes and additions. The City Council
hereby authorizes and directs the City Administrative Officer to execute, and the City Clerk to attest
and affix the seal of the City to, said form of the Lease Agreement for and in the name of the City.
The schedule of lease payments set forth in the Lease Agreement shall conform to the schedule of
principal and interest payments represented by the Certificates of Participation as determined
pursuant to Section 4 hereof.
SECTION 3. Approval of Trust Agreement. The City Council hereby approves the
Trust Agreement in substantially the form on file with the City Clerk together with any changes
therein or additions thereto deemed advisable by the City Administrative Officer, whose execution
thereof shall be conclusive evidence of his approval of such changes and additions. The City
Council hereby authorizes and directs the City Administrative Officer to execute, and the City Clerk
to attest and affix the seal of the City to, said form of the Trust Agreement for and in the name of
the City.
SECTION 4. Sale of Certificates of Participation. The City Council hereby
approves the competitive sale of the Certificates of Participation, and hereby calls for the receipt of
bids on the Certificates of Participation on Thursday, December 13, 1990, at the hour of 10:00
a.m. in the office of Jones Hall Hill & White at Four Embarcadero Center, Suite 1950, San
Francisco, California. The Director of Finance is hereby authorized and directed for and in the
name and on behalf of the City to accept the bid of the best responsible bidder; provided that the
purchase price to be paid for the Certificates of Participation shall be at least ninety -eight percent
(98 %) of the par value thereof, and the weighted average rate of interest represented by the
Certificates of Participation shall not exceed eight and three- quarters percent (8 -3/4 %) per annum.
The Certificates of Participation shall be sold pursuant to and in accordance with the provisions of
the Official Notice of Sale in substantially the form on file with the City Clerk, which is hereby
approved as the official notice of sale of the Certificates of Participation.
SECTION 5. Publication of Notice of Intention! In accordance with the
requirements of Section 53692 of the California Government Code, the Director of Finance is
hereby authorized and directed to execute, and Jones Hall Hill & White, A Professional Law
Corporation, as bond counsel to the City, is hereby authorized and directed to cause to be
published, the Notice of Intention to Sell Certificates of Participation in substantially the form on
file with the City Clerk. Such publication shall be made once no later than November 28, 1990, in
a financial journal published in the State of California.
SECTION 6. Official Statement. The City Council hereby approves, and hereby
deems nearly final within the meaning of Rule 15c2-12 of the Securities Exchange Act of 1934, the
preliminary Official Statement describing the Certificates in the form submitted by the Financial
Adviser and on file with the City Clerk, together with any changes therein or additions thereto
-2-
V0L 3626PAG[206
deemed advisable by the Director of Finance, whose execution thereof shall be conclusive evidence
of his approval of any such changes or additions. The City Council hereby approves and
authorizes the distribution by the Financial Adviser and by the purchaser of the Certificates of
Participation of said Official Statement to prospective purchasers of the Certificates of
Participation. The Director of Finance is hereby authorize to execute an appropriate certificate
stating the City Council's determination that the Preliminary Official Statement has been deemed
nearly final within the meaning of such Rule. The Director of Finance is further hereby authorized
and directed to approve any changes in or additions to the final form of such Official Statement as
the Director of Finance shall deem advisable, and to execute said final Official Statement for and in
the name and on behalf of the City.
SECTION 7. Official Actions. The City Administrative Officer, the Director of
Finance, the City Clerk, the City Attorney and all other officers and representatives of the City are
each authorized and directed in the name and on behalf of the City to make any and all
assignments, certificates, requisitions, agreements, notices, consents, instruments of conveyance,
warrants and other documents, which they or any of them might deem necessary -or appropriate in
order to consummate any of the transactions contemplated by the documents approved pursuant to
this Resolution.
3-
VOL 3626PAG120 7
i
SECTION 8. Effective Date. This Resolution shall take effect from and after the date
of its passage and adoption.
Councilman Councilwoman
On motion of Roalman , seconded by Rappa
PASSED AND ADOPTED this 20th day of November, 1990, by the following vote:
AYES: Councilmembers Roalman, Rappa, Pinard, Reiss, and Mayor Dunin
NOES: None
ABSENTNone
00=0-0=� o
Ron.Dunia, Mayor
By: Kim Condon, Deputy
APPROVED:
City Administrative Officer
Director of Finance
0.
VOL 3626PAGE208
29026-11 • IHHW:CFA jaj _ • 11/08/90
11/07/90
RESOLUTION NO. 6901
RESOLUTION OF THE BOARD OF DIRECTORS OF THE CITY OF SAN LUIS
OBISPO CAPITAL IMPROVEMENT BOARD APPROVING THE PURCHASE
OF MUNICIPAL LAND AND IMPROVEMENTS FROM THE CITY OF SAN
LUIS OBISPO AND THE LEASE OF SUCH IMPROVEMENTS BACK TO THE
CITY, APPROVING RELATED AGREEMENTS, OFFICIAL STATEMENT
AND COMPETITIVE SALE OF NOT TO EXCEED $4,500,000 CERTIFICATES
OF PARTICIPATION
WHEREAS, the City of San Luis Obispo (the "City ") is currently proceeding to finance
the costs of various municipal improvements, consisting of the acquisition of land for open space
purposes, the acquisition of land to be used as the site of a fire station, and the renovation and
rehabilitation of the recreation center of the City (the "Project "); and
WHEREAS, the City of San Luis Obispo Capital Improvement Board (the "Board ") has
been formed for the purpose of assisting the City in'financing the acquisition, construction and
improvement of property which is of benefit to the City; and
WHEREAS, to accomplish such financing of the Project, the City has proposed to sell
such recreation center facilities (the "Facilities ") to the Board pursuant to the Acquisition
Agreement dated as of December 1, 1990, (the "Acquisition Agreement ") and to lease the Facilities
and such fire station site from the Board pursuant to the Lease Agreement dated as of December 1,
1990 (the "Lease Agreement "); and
WHEREAS, for the purpose of obtaining the moneys required to finance the acquisition
of the Facilities under the Acquisition Agreement, the Board proposes to assign and transfer certain
of its rights under the Lease Agreement to a trustee bank (the "Trustee ") pursuant to that certain
Assignment Agreement dated as of December 1, 1990, (the "Assignment Agreement ") by and
between the Board and the Trustee; and
WHEREAS, in consideration of such assignment and the execution of that certain Trust.
Agreement dated as of December 1, 1990, (the "Trust Agreement ") by and among the Board, the
City and the Trustee, the Trustee will execute and deliver Certificates of Participation in the
principal amount of not to exceed $4,500,000 (the "Certificates of Participation "), each evidencing
an undivided fractional interest in the Lease Payments made by the City under the Lease
Agreement; and
. WHEREAS, the City and the Board have determined to sell the Certificates of
Participation at competitive sale, and the firm of Evensen Dodge, Inc. (the "Financial Adviser ") is
assisting the City and the Board in such sale of the Certificates of Participation and has caused to
be prepared an Official Statement describing the Certificates of Participation, to be used in
connection with such sale; and
WHEREAS, the Board of Directors approves of said transactions as being in the public
interests of the Board;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the City of
San Luis Obispo Capital Improvement Board as follows:
VOL 3626PAGE209
n (14(11
SECTION 1. Purchase of Facilities; Approval of Acquisition Agreement.
The Board of Directors hereby approves the purchase of the Facilities by the Board from the City
pursuant to, and subject to the terms and conditions of, the Acquisition Agreement in substantially
the form on file with the Secretary, together with any changes therein or additions thereto deemed
advisable by the Executive Director. The Board hereby authorizes and directs the President to
execute, and the Secretary to attest and affix the seal of the Board to, said form of the Acquisition
Agreement for and in the name of the Board.
SECTION 2. Lease of Facilities and Fire Station Site; Approval of Lease
Agreement. The Board of Directors hereby approves the lease of the Facilities and fire station
site by the Board to the City pursuant to, and subject to the terms and conditions of, the Lease
Agreement in substantially the form on file with the Secretary, together with any changes therein or
additions thereto deemed advisable by the Executive Director. The Board of Directors hereby
authorizes and directs the President to execute, and the Secretary to attest and affix the seal of the
Board to, said form of the Lease Agreement for and in the name of the Board. The schedule of
lease payments set forth in the Lease Agreement shall conform to the schedule of principal and
interest payments represented by the Certificates of Participation as determined pursuant to Section
5 hereof.
SECTION 3. Approval of Assignment Agreement. The Board of Directors hereby
approves the Assignment Agreement in substantially the form on file with the Secretary together
with any changes therein or additions thereto deemed advisable by the Executive Director. The
Board of Directors hereby authorizes and directs the President to execute, and the Secretary to
attest and affix the seal of the Board to, said form of the Assignment Agreement for and in the
name of the Board.
SECTION 4. Approval of Trust Agreement. The Board of Directors hereby
approves the Trust Agreement in substantially the form on file with the Secretary together with any
changes therein or additions thereto deemed advisable by the Executive Director. The Board of
Directors hereby authorizes and directs the President to execute, and the Secretary to attest and
affx,the seal of the Board to, said form of the Trust Agreement for and in the name of the Board.
SECTION 5. Sale of Certificates of Participation. The Board of Directors hereby
approves the competitive sale of the Certificates of Participation, and hereby calls for the receipt of
bids on the Certificates of Participation on Thursday, December 13, 1990, at the hour of 10:00
a.m. in the office of Jones Hall Hill & White at Four Embarcadero Center, Suite 1950, San
Francisco, California. The Chief Financial Officer is hereby authorized and directed for and in the
name and on behalf of the Board to accept the bid of the best responsible bidder; provided that the
purchase price to be paid for the Certificates of Participation shall be at least ninety-eight percent
(98 %) of the par value thereof, and the weighted average rate of interest represented by the
Certificates of Participation shall not exceed eight and three- quarters percent (8 -3/4 %) per annum.
The Certificates of Participation shall be sold pursuant to and in accordance with the provisions of
the Official Notice of Sale in substantially the form on file with the Secretary, which is hereby
approved as the official notice of sale of the Certificates of Participation.
SECTION 6. Official Statement. The Board hereby approves, and hereby deems
nearly final within the meaning of Rule 15c2 -12 of the Securities Exchange Act of 1934, the
preliminary Official Statement describing the Certificates in the form submitted by the Financial
Adviser and on file with the Secretary, together with any changes therein or additions thereto
deemed advisable by the Chief Financial Officer, whose execution thereof shall be conclusive
evidence of his approval of any such changes or additions. The Board hereby approves and
authorizes the distribution by the Financial Adviser and by the purchaser of the Certificates of
Participation of said Official Statement to prospective purchasers of the Certificates of
Participation. The Chief Financial Officer is hereby authorized to execute an appropriate certificate
-2-
vii, 382fipicF2l 0
stating the Board's determination that the Preliminary Official Statement has been deemed nearly
final within the meaning of such Rule. The Chief Financial Officer is further hereby authorized
and directed to approve any changes in or additions to the final form of such Official Statement as
the Chief Financial Officer shall deem advisable, and to execute said final Official Statement for
and in the name and on behalf of the Board
SECTION 7. Official Actions. The Executive Director; the Chief Financial Officer,
the Secretary, the Board Attorney and all. other officers and representatives of the Board are each
authorized and directed in the name and on behalf of the Board to make any and all assignments,
certificates, requisitions, agreements, notices, consents, instruments of conveyance, warrants and
other documents, which they or any of them might deem necessary or appropriate in order to
consummate any of the transactions contemplated by the documents approved pursuant to this
Resolution.
SECTION 8. Effective Date. This Resolution shall take effect from and after the date
of its passage and adoption.
Boardmember Boardmember
On motion of Roalman , seconded by Rappa
PASSED AND ADOPTED this 20th day of November, 1990, by the following vote:
AYES: Boardmembers Roalman, Rappa, Pinard, Reiss, and President Dunin
NOES: None
ABSENT: None
President Ron Dunin
APPROVED:
By: Kim Condon, Acting Secretary
Executive Director
-3-
vQL 3626rAG1211
SUMMARY OF PRO
■ Policy Links
■ Issue Size
FINANCING kttachment.A. . .
■ Anticipated Net Proceeds After Debt
Service Reserve Requirements and Issuance
Costs:
s Project Cost Summary
Fire Station No. 1 Site Acquisition
Recreation Center Rehabilitation
(General Fund Share)
Open Space and Parkland Acquisition
Total Estimated Project Costs
■ Type of Debt Instrument
■ Issued Through
s Maturity Period
■ Estimated Interest Rate
■ Estimated Net Annual Debt Service
s Source of Funding
,■ Schedule of Key Events
Council Approval of the Financing
Rating Agency Presentation
Underwriter Bid Closing
Receipt of Proceeds
Implements Various Elements of:
1987 -89 Financial Plan
1989 -91 Financial Plan
Council Work Program
Facilities Master Plan
Comprehensive Financial
Managment Plan: 1989 -2000
Recent Council Actions:
Approval of Fire Station Site
Acquisition (11/7/90)
Approval of Recreation Center
Rehabilitation (4/10/90)
$4,500,000
$3,925,000
2,640,000
340,000
900.000
$3,880,000
Certificates of Participation
San Luis Obispo
Capital Improvement Board*
20 years
7.0% to 7.5%
$375,000
Annual appropriation from the
General Fund for lease payments
November 20, 1990
December 3, 1990
December 13, 1990
December 27, 1990
* Public facilities financing corporation established on April, 15, 1986; the City
Council serves as its Board of Directors.
PF /2PRPFINA.WPF
vaL 3626PAG1212
0
$4,500,000
CERTIFICATES OF PARTICIPATION
Representing Direct, Undivided Fractional Interests
of the Owners Thereof in Lease Payments
to be Made by the
CITY OF SAN LUIS OBISPO, CALIFORNIA
As the Rental for Certain Property
Pursuant to a Lease Agreement with the
CITY OF SAN LUIS OBISPO CAPITAL IMPROVEMENT BOARD
CERTIFICATE OF ACCEPTANCE OF GRANT DEED
The undersigned hereby states and certifies:
(i) that he is the duly appointed, qualified and acting President of the
City of Luis Obispo Capital Improvement Board, a public body corporate and politic duly
organized and existing under Ordinance No. 1059 (1986 Series), adopted by the City
Council of the City of San Luis Obispo on April 15, 1986, and duly organized and existing
under the laws of the State of California (the 'Board "), and as such, are familiar with the
facts herein certified and are authorized and qualified to certify the same; and
(ii) that the interest in real property conveyed by that certain grant
deed dated December 26, 1990, from the City of San Luis Obispo, California, to the Board,
is hereby accepted by the undersigned on behalf and by order of the Board on December
27, 1990, pursuant to authority conferred by Resolution No. 6901 (CB 108 - 1990 Series),
adopted by the governing body of the Board on November 20, 1990; and the Board, as
grantee, consents to recordation thereof by its duly authorized officer.
Dated: December 26, 1990
Kim CbndbL,Assistant City C:
FOR: Pam Voges, City Clerk
=Nn OF DOCUMENT
I � � � r
By:
on Dunin, President
uni 28?Rvnrr? .l