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Home My WebLink About21131 - RESOLUTIONS - 11/3/2004 RESOLUTION NO. 21131 ' OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, DETERMINING UNPAID ASSESSMENTS IN ASSESSMENT DISTRICT NO. 162 (THE VILLAS IN OLD PALM SPRINGS AND 48 @ BARISTO) WHEREAS, the Finance Director (the "Finance Director ') of the City of Palm Springs (the "City") has filed with the City Clerk a list of paid and unpaid assessments for Assessment District No. 162 (The Villas in Old Palm Springs and 48 @ Baristo) ("List of Unpaid Assessments"), a copy of which list is attached to this resolution as Exhibit A and by this reference incorporated herein, certifying that 30-day period during which to pay such assessment has been waived by unanimous consent of the owners of property in Assessment District No. 162 (The Villas in Old Palm Springs and 48 @ Baristo) and that no cash payments were received, and that the amount of assessments remaining unpaid is equal to the amount of assessments levied; and WHEREAS, the City Council of the City (the "Council") wishes to establish said amount as the amount of unpaid assessments and to ratify the amount of not to exceed $1,300,000 as the principal amount of limited obligation improvement bonds authorized and issued in these proceedings upon the security of said unpaid assessments. NOW THEREFORE BE IT RESOLVED, as follows: Section 1. Assessments Unpaid. This Council hereby finds and determines that, as set forth in the attached List of Unpaid Assessments, and there being no information to the contrary, the amount of assessments remaining unpaid in Assessment District No. 162 (The Villas in Old Palm Springs and 48 @ Baristo) is the amount set forth in said List of Unpaid Assessments, and by separate resolution, this Council has authorized the issuance of limited obligation improvement bonds of the City in a principal amount to be established on the basis of said unpaid assessments. The principal amount of bonds to be issued shall be equal to the amount of assessments levied, rounded down, if necessary, to the nearest $5,000. Section 2. Transmittal to County Auditor. The City Clerk is hereby directed to transmit a copy of this resolution to the County Auditor-Controller of the County of Riverside, and said County Auditor is requested to proceed in accordance with Section 8682 of the California Streets and Highways Code in the collection of installments of these assessments and the interest thereon on the secured property tax assessment roll of the County, commencing with the 2005-06 tax roll. Section 3. Effective Date. This Resolution shall take effect immediately upon adoption. Resolution No. 21131 Page 2 ADOPTED this 3`' day of November, 2004. , AYES: Members Foat, McCulloch, Mills, Pougnet and Mayor Oden NOES: None ABSENT: None ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By AGq City Clerk City Manages ,,,f'" REVIEWED & APPROVED AS TO FORM City Attorney =- SECTION ENGINEER'S ESTIMATE OF COSTS AND EXPENSES ASSESSMENT DISTRICT NO.162 (THE VILLAS AND 48 @ BARISI'O) CITY OF PALM SPRINGS Zone 47 tans Zone 48 Lots Told 95 Ln. The Vi11u 48 CN Strut. Tom]Estimatd(fists Tract 29077 Tract 3041 Coat and Expemen Costs and Expenses Cosl and Expenses Uescruxi Pryfmjpgp Confirmed ]escumon Prchnninary Continued 13'scruslot Preliminary Confirmed 1. CONSTRUCTION COSTS 1. CONSTRUCTION COSTS 1. CONSTRUCTION COSTS A.Consw ling A.Construction A Construction Street Construction $393.6M) f393,6111) Sweet Cunswctinn $25,494 S25.494 Streit Construction $419.174 $419.174 Witter Construction .16,025 36,I25 Winer Construction 13,593 13,W3 Water Coniswttion 49,618 49.618 Sewer Conswction 7.600 7,600 Sewer Construction 14,250 14,250 Sewer Construction 21,850 21.9% Drainage Cp inew,iipa 750X) 75010 Drainage Construction 0 0 Drainage Construction 75,00B 75j= Subtotal Cpllnructum Costs f512.305 $512.305 Sabots!Construction Costs $53337 $53337 Subtotal Construcum Costs E565,642 Construction $556.5Construction Cast Conungencin 10% 51231 SL231 Construction Cost Contingencies 10% 5334 5334 Construction on Cuss Contingencies 10% 56 Subwud Ci nunicuun Costs 5563 536 $163536 Su6tuml Conswnim Costs $59,671 $58,671 Subtotal Com n cuon Costs 5622,206 5622,206 B.lmoruvemcnl Fees B.Improvement Peer B.Improvement Fees Water Frontage 14x:s S5 5011 f5.5110 Water Footage Fen $7,243 57.243 Water Meter Fees $12.743 $12,743 Water Meters&Bw:kflow Preventms $46.820 $46.820 Water Meters&Back0ow Pmvenmis $29.535 $29535 Water Meters&R.kflow Prcventors $76.353 $76,355 Sewer Connection Fun 113.176 113.176 Sewer Connection Fees 115589 II5584 Sewer Connection Fen 229.W 228.7b0 228,760 Drainage Fees 45,219 45,219 Drainage Fen 33AM 33.680 Drainage Fees 78,899 78,099 Subtotal lmpmvement Fees $210,715 $210,715 Subtotal Improvement Fes $186.042 $186,042 Subtotal Improvement Foes P f396,757 f396,757 TOTAL CONSTRUCTION COSTS $774,2251 $774,253 TOTAL CONSTRUCTION COSTS $244,713 $244,713 TOTAL CONSTRUCTION COSTS $1,0181%3 $1,018,963 II.INCIDENTAL EXPENSES D.INCIDENTAL EXPENSES U.INCIDENTAL EXPENSES A. Engineering,Consuucuon Costs A. Eoginwing,Construction Costs A. Engineering,Construction Costs &Facility Fees &Facility Fen &Facility Fes Inspection $11.271 SIU71 Inspection $1.173 $1,173 Inspection SIZ444 $12,444 Tntiag 5.635 5.635 Testing 587 587 Testing 6.222 6'M Contract Administration 15.197 15,197 Contract Administration 4,803 4,803 Contract Administration 20,000 20,000 T77 Plan Cheek 11,271 11,271 Plan Check 1,173 1.173 Plan Check 12.444 12,144 x Design Engineering 22,541 22541 Design Engimenog 2,347 2347 Design Engineering 24,998 24,885 = Surveying and Staking 22,541 22,541 Surveying and Staking 2,347 2347 Surveying and Staking 24.888 24.898 W Sub-ToW Incidental Expenses of Items A SBI456 $88,456 Sub-ToW lncidenW Expenses of Items A $12,430 $12.430 SubTUW Incidental Expenses of Items A 100,986 100.896 10%Incidental Contingencies of It..A 8,846 9.946 10%hwidenW Contingencies of Item A 1,243 1.243 10%Incidental COniogemtes of Item A 14089 10,089 '--� Total kwulti al Expenses Dam A 597,302 $97,302 Total Incidents]Ex nsn Item A Pe SI3b73 f13.673 Taal Incidental Expenses Item SI70,975 I1149'15 B. PryCeln 1 nd F atr n o,iy, R, ;edurvl and humunion Cost B. Avw1,z1 and Formation Cost, City Fsum oon Expenses $1.979 E1.660 City Furminion Expenses $2,021 $116" City Formation Expenses f4,OW $3.335 City Legal Expense 0 0 City Legal Expense0 0 City Legal Expense p f0 Trustee Fees 2.968 2.968 Trustee Fees 3,032 3.032 Trustee Fees 6pgp gg ppp Printing(Official Statement.and Advertising) 6.412 6.432 Printing(Official Statement,and Advertising) 6568 6.568 Printing(Official Statement.and Advertising) 13.000 $13,000 M103 016VSocMon1 Pa4e I W 2 ApMA WON ANCAMn SECTION 3 ENGINEER'S ESTIMATE OF COSTS AND EXPENSES ASSESSMENT DISTRICT NO.162 (THE VILLAS AND 48 @ BARISTO) CITY OF PALM SPRINGS 2aa1 47 lots Zone 48 Wu- Total 95 Lm The Vill. 48 @ Batista Tidal Lstimaled Costs Tract 29077 Tract 30941 Cost and Expenses Costs and Expenses Coat and E pemes Descrintion $4ljminum Confirmed De.sedntint Prelate,ury Confirmed LCu'apuon Preliminary Confirmed Appraisal 9.969 9,969 Appraisal 10,181 10.181 Appraisal 20.150 $20.150 F'immend Advisor 10.389 10.142 Financial Advour 10,611 10.358 Financial Adviser 21,000 $20.500 Bond Counsel 12.863 12863 Bond Counsel 13.137 13.137 Band Counsel 26,000 526,000 Disclosure Counsel 4.947 4,W7 Disclusuze Counsel 5.053 5.053 Disclosure Counsel 10,000 $10.010 Absorption Study 6.308 618,1 Absuiptom Study 6.442 6316 Absot"on Study 12750 $12" Assessrrant Engineer 12368 12..W Assessment Engineer 12,632 12632 Assessment Engineer 25,000 S25,000 Sub-Total Me,denud Expenses of Items B $68,223 $67333 Sub-Taal lncidened Expenses of hems B $69,677 $68,972 Sub-Ttul Incidental Expenses of Items B $137.900 $136305 Incideaud Comingencies of Item B 6,822 1.729 Incidental Conlingeneies of Item B 6,968 1.766 IneidenW Cotningenctes of Item B Z60D 3,495 Taal Weidemal Expenses Item B $75.045 $69.262 Total Incidental Expenses Item B $76.645 $70.739 Total Incidental Expenses Item B $140300 $140,000 !Nair;10%Preliminary A As listed Confirmed TOTAL INCIDENTALS COSTS $172.347 $166SM TOTAL INCIDENTALS COSTS $90318 $94,411 TOTAL INCIDENTALS COSTS $251,475 $250,97S W.CONTRIBUTION BY PROPERTY OWNER $167.290 $158,432 ULCONTRIBUTION BY PROPERTY OWNER $1.819 $18.940 HL CONTRIBUTION BY PROPERTY OWNER $169,109 $177372 IV.BOND ISSUANCE COSTS IV.BOND ISSUANCE COSTS IV.BOND ISSUANCE COSTS A Capita z d Interco $49.390 $46.783 A. Capitalized Interest $15,610 $14.786 A. Capitalized Interest $65,000 $61369 B. Bond Reserve $83.583 $81.520 B. Bond Reserve $26.417 $25.765 B. Bond Reserve I10,001) 107,285 C. Bond Dtumum $27.719 $29.314 C. Bond Discount $9,761 S%265 C. Bond Discount 36.480 A579 TOTAL BOND ISSUANCE COSTS $160,692 $157,617 TOTAL BOND ISSUANCE COSTS $50,788 $49.916 TOTAL BOND ISSUANCE COSTS $211.480 $207,433 RECAPITULATION RECAPITULATION RECAPITULATION 1. CONSTRUCTION COSTS 1. CONSTRUCTION COSTS L CONSTRUCTION COSTS AND CONTINGENCIES $774,251 $,ma51 AND CONTINGENCIES $244.713 $244,713 AND CONTINGENCIES SIAlB,960 SIA18,9N 11. INCIDENTAL EXPENSES 172347 166364 11. INCIDENTAL EXPENSES 90318 "All U. INCIDENTAL EXPENSES $262,665 $2%XS Ill. BOND ISSUANCE COSTS 160,692 157,617 Ill. BOND ISSUANCE CYSTS 50,788 49,916 ILL BOND ISSUANCE COSTS $211AN am NET PROJECT COSTS $1,107,290 $1AP4432 TOTAL.NET PROJECT COSTS $385,819 $378,940 TOTAL.NET PROJECT COSTS SlA➢3,109 SI,M.171 IV. LESS CONTRIBUTION BY 0 IV. LESS CONTRIBUTION BY IV. LESS CONTRIBUTION BY PROPERTY OWNER 167,29U 158,432 PROPERTY OWNER 1.819 18,940 PROPERTY OWNER 169,109 177,372 TOTAL AMOUNT TO ASSESSMENT f940.000 $940.000 TOTAL AMOUNT TO ASSESSMENT $384,000 $3NI000 TOTAL AMOUNT TO ASSESSMENT $1324 $1,310,N0 Per tat Assessment $20,000 $20.000 Per Unit Assessment $&OOD $7,500 V.PLUS ANNUAL ASSESSMENT PER SECTION 5.PARAGRAPH 5,PAGE 5-3 Not to exara13.00%of brads vested Mjw 0464/S Mont Pu,2ur3 AlasTA WabbAIIAMa 041NJ4 SECTION 3 ENGINEER'S ESTIMATE OF COSTS AND EXPENSES ASSESSMENT DISTRICT NO.162 (THE VILLAS AND 48 49 BARISTO) CITY OF PALM SPRINGS Zone 47 Iwns Zone 48 NA, Total 95 Ims The Villas 48®Baristo Total Estimated Cosh Tract 29077 Tract 30941 Cast and Expenses Costs and Expenses Cost and Expenses Description Preliminmv Conirmed npljon Eaklina nary Confirmed UetinMiun Preliminary ConlimrA 1. CONSTRUCTION COSTS 1. CONSTRUCTION COSTS 1. CONSTRUCTION COSTS A.Constroesion A.Comm coon A.Construction Street Construction $393,680 $393.690 Street Construction $25,494 $25,494 Sweet Construction 5419, $419,174 Water Cunlv'tmetion 36.(125 36.1125 Water CpnlsUYttion 13.593 I3,S93 Water Comatmction 49,618 618 49,618618 Sewer Conawction 7,6W 7.600 Sewer Construction 14,250 14,250 Sewer Construction 21.850 21,850 Drainage Construction 75081 75,UW Drainage Construction 0 0 Drainage Construction 75.000 75,000 Subtotal Construction Costs $512,305 $512.305 Subtotal Construction Costs $53.337 $53,337 Subtotal Construction Costs $565,642 $565,642 Construction Cost Contingencies 10% 51,231 51.231 Construction Cost Contingencies 10% 5.334 5,334 Construction Cost Contingencies l(k% 56,564 56.564 Subtotal Construction Costs $563.536 $563,536 SuMotm Construction Costs $58,671 $58.671 Sublwal Construction Costs $622,206 $622,206 B.Improvement Fees B.Imnoyemem Fees _B. - B.Imms.vement Fees Water Frontage Fees $5500 $5,500 Water Frontage Fees $7,243 $7,243 Witter Meter Fees $12,743 $12,743 Water Milers&Bmkl7ow I4cvenmrs $46,820 $46.820 Water Milers&Backllow Prevenlors $29,535 $29,535 Water Miners&BackOow Preventors $76,355 $76.355 Sewer Connection Fees 113,176 113,176 Sewer Connection Fees 115,584 115,584 Sewer Connection Fees 228.760 228,76D Drainage Fees 45,219 43.219 Drainage Fees 33,690 33,680 Drainage Fees 78,899 78,899 Subtotal wprovemem Fees $210,715 $210.715 Submitted Improvement Fees $186,042 $186,042 Subtotal Improvement Fees $396,757 $396.757 TOTAL CONSTRUCTION COSTS $774,2S1 $774,251 TOTAL CONSTRUCTION COSTS $244,713 $244,713 TOTAL CONSTRUCTION COSTS $1,019.963 $IA18^3 11.INCIDENTAL EXPENSES 11.INCIDENTAL EXPENSES 11.INCIDENTAL EXPENSES A. Engineering,Construction Costs A. Engineering,Construction Costs A. Engineering,Construction Costs &Facility Fees &Facility Fees &Facility Fees Inspection $11,271 $11.271 Inspection $1,173 $1,173 Inspection $12,444 $12,444 Testing 5.635 5.635 Testing 587 587 Testing 6,222 6.222 Contract Administration 15,197 15.)97 Contract Admimstrumn 4.803 4,803 Contract Administration 20,000 20,000 M Plan Check 11,271 11,271 Plan Check 1.173 1,173 Plan Check 12,444 12,444 x Design Engineering 22,541 22541 Design Engineering 2,347 2,347 Design Engineering 24,888 24,888 =_ Surveying end Slaking 22,541 22,541 Surveying and Staking 2,347 2,347 Surveying and Stalling 24.888 24,899 Sol,TotalIncidental Expenses of Items A $88,456 $88,456 SuLLToud Incidental Expenses of Items A $12,430 $12.430 Sub-Tool Incidental Expenses of items A 100,896 100,886 W 10%incidental Contingencies of Item A - 8,946 8.846 10%Incidental Contingencies of Item A 1,243 1,243 10%incidental Contingencies of Item A 10,089 81110 -{ Total Incidental Expenses Item A $97,302 $97,302 Total Incidental Expenses Item A $13,673 $13,673 Total Incidental Expenses Item A $110.975 $110, B. Proced, t •d Formation 'osis. B. Procedural„al a tr,n Costs D "�'F Formation ewe° ` B. Formation Expenses Cosa City Formation Expenses $1.979 $I.660 City Formation Expenses $2,021 $1,695 City Pomntion Ezpenses S4,000 $3.355 City Legal Expense 0 0 City Legal Expense 0 0 City legal Expense 0 so Trustee Fees 2.968 2,968 Trustee Fees 3,032 3,032 Tmaw Fees 6.000 $6.000 Printing(Official Statement and Advertising) 6,432 6,432 Printing(Official Statement.and Advertising) 6.568 6,568 Printing(Official Sta a teem,and Advertising) 13,000 $13,000 MIIXf-016YSec13Cant Mgrt42 AkndA Webb Anvil a SUN SECTION 3 ENGINEERS ESTIMATE OF COSTS AND EXPENSES ASSESSMENT DISTRICT NO.162 (THE VILLAS AND 48 @ BARISTO) CITY OF PALM SPRINGS Zone l 47 Lots Zone 2 48 Los Total 95 Los The Vials 48 @ Barirto Total Estiwtd Cask Tract 29077 Tract 30%1 Cost end Expenses Costs and Expenses Cast and Expenses Descri0B9n Prel mmary Confirmed Description Prel m mory Confunxd Descrildio 9SBIRjOtp Confirmed Appraisal 9.969 9.969 Appraisal 10,181 10.181 Apprvsal 20,150 S20.1$0 Financial Advisor 10.389 10.142 Financial Advisor 10,611 10.358 Financial Advisor 21,000 $20,500 Bond Counsel 12,863 12,863 Bond Counsel 13,137 13,137 Bond Counsel 26,IX0 $26,q(Mj' Disclosure Counsel 4,947 4,947 Disdosme Counsel 5,053 5,053 Disclosure Counsel 10,ODD $10=0 Absorption Study 6,3118 6,184 Absorption Study 6,442 6,316 Absorption Study 12,750 $12,500 Assessment Engineer 12,368 12,368 Assessment Engineer 12.632 12,632 Assessment Engineer 25,000 $25.ODD '. Sub-Told Incidental Expenses of Items B $68,223 $67,533 Sub-Total Incidental Expenses of Items B $69,677 $68,972 Sub-TOW Incidental Expenses of Items B $137,90D $1 Incidental Contingencies of 1wm B 6,822 1,729 InadenW Contingencies of Item B 6,968 1,766 Ia:idental Contingencies of Item B 2.610 3 49S Total Incidental Expenses Item B $75,045 E69,262 TOW Incidental Expenses Item tl $76,643 E7O,738 Tad IncidenW Expenses Ikm B SIW500 $ - !Noe:H)%Preliminary&As Listed Confirmed TOTAL INCIDENTALS COSTS $172,M7 $166,564 TOTAL INCIDENTALS COSTS $90,319 $84,411 TOTAL INCIDENTALS COSTS $2.51,475 S750r1w$ ULCONTRIBUTION BY PROPERTY OWNER $167.290 $ISW2 IlLCONTRIBUTION BY PROPERTY OWNER $1,819 $18910 Ill.CONTRIBUTION BY PROPERTY OWNER $169,109 $177,M, �, IV.BOND ISSUANCE COSTS IV.BOND ISSUANCE COSTS IV.BOND ISSUANCE COSTS 6^p A. Capitalized Interest $49,390 $46.783 A. Capitalized lmeren $151610 $14,786 A. Capitalized lawnsa $651000 $61.560 D. Bond Reserve $83,583 S81.520 B. Bond Reserve $26,417 $25,765 B. Bond Reserve 110,000 107,W " C. Bond Discoum $27.719 $29,314 C. Bond Discount $8,761 $9,265 C. Bond Discount 36,480 38.579 TOTAL BOND ISSUANCE COSTS $160,692 $157,617 TOTAL BOND ISSUANCE COSTS $50,788 $49,816 TOTAL BOND ISSUANCE COSTS $211,490 $207.433 RECAPITULATION RECAPITULATION RECAPITULATION 1. CONSTRUCTION COSTS 1. CONSTRUCTION COSTS 1. CONSTRUCTION COSTS AND CONTINGENCIES $774,7SI $774,251 AND CONTINGENCIES $244,713 $244,713 AND CONTINGENCIES $1,018,964 SIA183K4 11. INCIDENTAL EXPENSES 172,347 166,564 11. INCIDENTAL EXPENSES 90,318 94,411 H. INCIDENTAL EXPENSES $262AM $Z50,975 III. BOND ISSUANCE COSTS 160,692 157,617 III. BOND ISSUANCE COSTS 50,788 49,816 111, BOND ISSUANCE COSTS $211,480 $207 TOTAL,NET PROJECT COSTS $I,107,ri0 $I,W^432 TOTAL NET PROJECT COSTS $385,819 $379.940 TOTAL NET PROJECT COSTS $1,493,109 $1,477 IV. LESS CONTRIBUTION BY 0 IV. LESS CONTRIBUTION BY IV. LESS CONTRIBUTION BY PROPERTY OWNER 167,290 158,432 PROPERTY OWNER 1,819 18,940 PROPERTY OWNER 169,109 177.372 TOTAL AMOUNT TO ASSESSMENT $940,000 $940,000 TOTAL AMOUNT TO ASSESSMENT $384,000 $360,000 TOTAL AMOUNT TO ASSESSMENT $1,324,000 $13KM- Per lwt Assessment $20,000 $20AM Per Unit Assessment $8,000 $7,5110 V.PIGS ANNUAL.ASSESSMENT PER SECTION 5.PARAGRAPH 5,PAGE 5.3 Not w exceed 3.(10%Of bonds issued M/03-D164Secwon1 Pw2d2 A10anA,Wabl AaaoiW gem