HomeMy WebLinkAbout11/3/2004 - STAFF REPORTS (9) 71
DATE: November 3, 2004
TO: City Council
FROM: Public Works Director/City Engineer
ASSESSMENT DISTRICT 162
RECOMMENDATION:
It is recommended that the City Council approve various Resolutions related to the proposed
formation of a 1913 Act Assessment District, using 1915 Act Bonds for certain eligible public
improvements for two separate development projects:"The Villas",Tract No.29077, located
on the south side of Tahquitz Canyon Way west of Cahuilla Road; and"48 @ Baristo",Tract
No. 30941, located on Baristo Road west of Sunrise Way.
SUMMARY:
On October 6, 2004, the City Council held a Public Hearing to consider formation of
Assessment District (AD) 162. Although there were no protests received related to the
formation of AD 162 during the Public Hearing, the City Council's vote of 2 affirmative, 1
negative and 1 abstention (with 1 absent) was insufficient to allow formation of AD 162.
Government Code 36936 requires 3 affirmative votes in order to implement the actions
related to formation of AD 162.
In accordance with City Council's Polices and Procedures, on October20, 2004, the Mayor
requested reconsideration of the Council's previous consideration of the formation of AD 162
at the next regular meeting.
BACKGROUND:
A copy of the previous staff report provided to City Council for the October 6, 2004, Public
Hearing is included as Attachment 2. This Public Hearing was held in accordance with the
previous resolution of intention, at which no written or oral protests and no public testimony
was presented relating to the formation of AD 162. At the end of the hearing, the City Clerk
opened and counted the ballots and declared that all the property owners in the district voted
in favor of the proposition to levy assessments related to AD 162.
At this point the Council was presented with 5 resolutions for adoption, including a resolution
declaring the results of the assessment ballot proceedings as announced by the City Clerk.
Of the three eligible members to vote on the issue, one voted no and two voted for adoption
of the 5 resolutions. Under Government Code 36936, an affirmative vote of three members
of the Council is required to adopt the resolutions. Therefore, in accordance with the
Government Code, although the Public Hearing was conducted and no protests were
received, the formation of AD 162 was denied in light of the City Council vote on the action.
At the October 20, 2004, City Council meeting,the Mayor requested reconsideration of the
Council's previous consideration of AD 162. Therefore, although no Public Hearing is
necessary and all relevant actions associated with formation of AD 162 have occurred, the
only action presented for Council consideration at this point is consideration of the various
resolutions related to formation of AD 162.
Assessment District 162
November 3, 2004
Page 2
In the intervening period since the October 6, 2004, meeting,the City Clerk has received a
unanimous waiver from the property owners of the 30 day cash payment period required by
Section 8620 of the Streets and Highways Code. Therefore, a sixth resolution has been
prepared and added to the previous 5 resolutions considered by City Council at the October
6 meeting, and the 5 resolutions have been amended in subtle ways to evidence the waiver
of the 30-day cash collection period. Staff solicited and received the City Attorney's opinion
that the additional resolution and amendment of the previous 5 resolutions was within the
realm of the Council's reconsideration of this item, as all 6 current resolutions deal with the
same item in question (formation of AD 162).
If it is City Council's desire, staff recommends approval of the 6 resolutions and formation of
AD 162, in accordance with Government Code 36936 which requires 3 affirmative votes of
the Council.
SUBMITTED: APPROVED:
DAVID J. BARAKIAN DAVID H. READY Z"
Director of Public Works/City Engineer City Manager`
ATTACHMENTS:
1. Resolutions (6)
2. October 6, 2004, staff report
DATE: October 6, 2004
TO: City Council
FROM: Public Works Director/City Engineer
ASSESSMENT DISTRICT 162
RECOMMENDATION:
It is recommended that the City Council approve various Resolutions related to the proposed
formation of a 1913 Act Assessment District,using 1915 Act Bonds for certain eligible public
improvements for two separate development projects:"The Villas",Tract No.29077, located
on the south side of Tahquitz Canyon Way west of Cahuilla Road; and"48 @ Baristo",Tract
No. 30941, located on Baristo Road west of Sunrise Way.
SUMMARY:
On July 21, 2004, the City Council approved an application for further processing of the
formation of Assessment District 162, submitted by Ironwood Homes, doing business as
Palm Springs Modern Homes. The City Council's authorization was specific to the following
considerations: authorization to proceed with an initial estimated bond amount less than the
$2,000,000 minimum established by the City's Policies and Procedures for Special
Assessment and Mello-Roos Community Facility District(CFD)Municipal Bond Financing for
Public Improvements for Development Projects(the"Policy'); authorization for staff to select
and negotiate contracts with consultants for an assessment engineer's report, appraisal and
market absorption study; and authorization to collect necessary deposits from the applicant
to fund consultant contracts. A Resolution of Intention to consider the formation of
Assessment District 162 was approved, scheduling a Public Hearing for consideration of its
formation for October 6, 2004, The purpose of this Public Hearing is to consider all
information related to the application for formation of Assessment District 162, public
testimony related thereto, and consideration of adoption of various Resolutions that will
implement formation of Assessment District 162.
BACKGROUND:
Ironwood Homes, doing business as Palm Springs Modern Homes, is the developer for
Tract No. 29077 located on the south side of Tahquitz Canyon Way west of Cahuilla Road.
The Tract Map was approved and recorded in September 2003 and consists of 47 single
family residential lots. They are also the developer of Tract No. 30941 located on Baristo
Road west of Sunrise Way. The Tract Map was approved and recorded in July 2003 and
consists of 48 condominium units.
Ernie Vincent,Vice-President of Palm Springs Modern Homes,has submitted an application
for formation of a 1913 Act Assessment District, identified as Assessment District 162,using
1915 Act Bonds for the public improvements for both of their approved developments.
Following a review of the application by the City's Special Districts Committee,City Council
authorized further processing of the formation of Assessment District 162 at its July 21,
2004, meeting. The Council's authorization allowed for City staff to select and award various
consultant contracts necessary to provide information necessary for the formation of
Assessment District 162, as well as scheduled the formal Public Hearing for consideration of
the formation of Assessment District 162 for the October 6, 2004, meeting.
As discussed during Council's consideration of Assessment District 162 at its July 21
meeting, the applicant is proposing that Assessment District 162 fund public sewer
improvements,water improvements, street improvements,sewerfees,drainage fees,water \
Assessment District 162
October 6,2004
Page 2
fees, engineering costs, and all district formation and financing costs for both development
projects. In addition, relatively extensive utility undergrounding adjacent to the property
being developed as Tract No. 29077 is proposed to be funded by the Assessment District.
The final confirmed engineer's estimated bond amount for Tract No.29077, known as"The
Villas" is$940,000 and the final confirmed engineer's estimated bond amount for Tract No.
30941, known as"48 @ Baristo"is$360,000 for a total Assessment District bond amount of
$1,300,000. In its reconsideration of Assessment District 162, the City Council authorized
an exception to the $2 Million minimum bond amount requirement, which is allowed by
formal action by the Council, as specified by the Policy in Section 4(2)(C).
As shown on Attachment 2 (the "Financing Summary'), the final confirmed engineer's
estimates for Assessment District 162 results in a per lot assessment of$20,000 for the 47
single family homes at"The Villas"(Tract 29077), and a per lot assessment of$7,500 forthe
48 condominium units at"48 @ Baristo" (Tract 30941). It is anticipated that a bond term of
25 years at a rate of 5.7%will be obtained once a sale of the bonds is completed,yielding an
annual assessment of$1,595 for"The Villas" (Tract 29077), and an annual assessment of
$645 for"48 @ Baristo"(Tract 30941). The final confirmed costs of the Assessment District
and resulting assessments comply with the Policy; value to lien ratios exceed the 4:1
requirement (the overall ratio is of value to lien of the Assessment District is 11.5:1), and
overall tax rates are below the 2% maximum allowed by law, (1.48% for "The Villas" and
1.32% for 48 @ Baristo).
After the formation of Assessment District 162 is complete,the City will be the issuer of the
tax-exempt obligations for the Assessment District. The City does not incur any obligation
for the subject debt, which will be secured and payable solely from assessments on the
properties within Assessment District 162 and will constitute a foreclosable lien on such
properties if unpaid.
Following consideration of public testimony at the Public Hearing, the City Council may
consider approval of various Resolutions that will allow staff to proceed with formation of
Assessment District 162. Resolutions are required to certify the results of the assessment
ballot proceedings, approving the final Engineer's Report, approving joint financing
agreements with Desert Water Agency and Riverside County Flood Control District, ratifying
all actions necessary for the formation of Assessment District 162 as required by state law
and the California Constitution, and finally authorizing issuance and sale of$1,300,000 in
limited obligation bonds for the purposes of financing Assessment District 162.
The City Council's approval of the various Resolutions in no way commits the City to any
financial contribution or liability to repay the bond indebtedness. Unpaid assessments are
secured through foreclosable liens,and City staff costs to administerthe Assessment District
and are reimbursed through the annual assessments levied to the property owners within the
Assessment District.
SUBMITTED; ^�� APPROVED:
DAVID J. BARAKIAN DAVID H. READY
Director of Public Works/City Engineer City Manager
ATTACHMENTS:
1. Resolutions
2. Financing Summary
3. Assessment District Map
11 IIII/ palm springs
�L � �ll� Il iM
l
_ ��
w w w p a I m s p r n g s m o d e r n c o m
November 3, 2004
Mayor Ron Oden&Council Members
City of Palm Springs
3200 E. Tahquitz Canyon Way
Palm Springs, CA 92262
Re: Assessment District 162
Agenda Item 11 —City Council Meeting of November 3, 2004
Dear Mayor and Council:
Thank you for your support in forming Assessment District 162, which will pay for part
of the under-grounding of overhead electrical utilities for The Villas in Old Palm Springs,
among other items. To address Council Member concerns, approximately $100,000 of
the utility under-grounding, which benefits adiacent landowners and not the
developer's homebuyers, is being paid for solely by the developer, and will not be
refunded to the developer through the AD. That is why the AD has been reduced from
$1,400,000 to $1,300,000.
On July 21, 2004,the council authorized staff to proceed with formation of AD 162.
Pursuant to this authorization, the developer deposited $67,500 with the City and these
funds have been or will be used to pay the appraiser, bond counsel, assessment engineer,
fmancial advisor and other City costs. Almost all of this work has been completed, and
the underwriter is prepared for the bond sale.
On October 6,2004,the council held the public hearing, at which there were no
objections to forming the district and the landowner/developer cast its vote in the
affirmative. All that remains to be done is the formal approval of the resolutions by a
majority of the Council.
Thank you again for your support.
Sincerely,
PALM SPRINGS MODERN HOMES
Ernest Vincent, Vice President
- -
/fei_II AOv 61 I0nt 'ro Iud:Y m,- 7NII i °f01 11 !' 'AZ/
!�?Xlo>✓a!III : V 7(07171L9�,5,ilr
II/VJ/LVVY Ic.vo rnn eye
PALM SPRINGS MODERN 1.1(:)MCS 11, LLC
PALM SPRINGS MODERN HOMES V, I..I..C: $ Ual
C/O PALM SPRINGS MODERN IIOMrS P9019 -3 2004
180 EAST ANDRL;AS ROAD -C EVER
PALM SPRING'S, CALIFORNIA 92262
Noverr)ber 3.2004
Honorable (Jty Council
City of I'i)IIIt Springs
3200 East Tahyuitz Canyon Way,
Palen Springs, CA 92263
12e: Waiver of all Notices and '.rime Constraints in connection with the Formation of
Assessment District No. 162 O'be Villas in Old Palen Springs and 43 6) Ilaristo)
Of the City of Palm Springs, the Levy and Collection of Special As.sessmcnts
Securing Limited Obligation Improva)nent Bonk. the 'INSnt1nCC trod Sale of such
Bonds. and the Clash Payn)cnt Period
Lear C'otmcilmembers:
The undersigned aril duly authorized representatives of l'ahn Springs MULICtn Bones 11,
LLC and Palm Springs Modern Homes V, LLC are the fee owners of that certain property in the
City of Palen Springs described on I"Ahibit A hereto and by this rcferencc incorporated herein
(the "Property'),which property comprises Assessment District No. 162 ('The Villas in Old 'Paln)
Springy and 4S (rn.Llaristo) of'thc City Of P:tin Springs ("At) No. 162"). Such property has been
formal into a special assessment district pursuant to Lilo Municipal Improvement Act of 1913,
Chapter 7 of Division 12 of Tile Cnlili>rnia Streets and Flighway:: Carle (the "1913 Act') for the
purpose of levying asscssmcuts till specially benefited property within said Assessment District
No. I62, Such special assessments arc to secure limited obligation improvement honds to be
issued pursuant to the Tmprovement Homo Act. of 1915. Division 10 of Naid (''ode (the ''1915
Act"), 'I'hc 1q,,al rcquiremcnts of both Acts include time constraints for the performance by the
City of certain actions in furtherance of the objectives of both Ac+s.
In order for the proceedings for the. Property to move forward as expeditiously as
possible,the undersigned clues hereby waive the lnllowing:
I. All published or n)ailcd notices, including notires reilard'ing recording of the
assessment and diagram and the cash collection period.
2. All time and other constraints on the formation of Assessment District No. 162,
the levy of assessments Ibercunder. and the issuance and sale of bonds.
3. 'hoe thu'ty clay cash payment period far payment ofassessments.
l
Honorable laity Council
November 3,2004
Page 7
Please enter tbis w.iiver in the appropriate records of the City.
The undersigned hereby declare under penalty of pctjur} that they arc the owners ()I'[tic
Property and arc voluntarily waiving the 1'Ighl5 di5Msscd :above:
Very truly yours, _
PALM SP1tINC;Syv1(:)I.]I>Rlyil IC)M S 11, I.,J.C.
a California lim(fed lia jI- co 14pliny
13v:
iYi II ]_)1F111is CyFflnl�Ial I
IS: AutllorIZCd cpresentativ
f/�
PALM SPRINGS (v1C ll1 Il(11 II,S V, J,J,C:,
a.C'alilin•nia IimitedHiu.hilil tcj ny�
is:J:)cri>ai C: Irminr,Ill'till
.l e,Acuil urired.ICep/r���vi;
G
RESOLUTION NO. °
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, APPROVING THAT CERTAIN
WATER FACILITIES AGREEMENT BETWEEN THE CITY
AND DESERT WATER AGENCY AND THAT CERTAIN
ACQUISITION AGREEMENT BETWEEN THE CITY AND
THE PROPERTY OWNERS AND A FIRST
AMENDEMENT TO COOPERATIVE AGREEMENT WITH
THE COUNTY OF RIVERSIDE, THE CITY AND THE
PROPERTY OWNER RELATED TO ASSESSMENT
DISTRICT NO. 162 (THE VILLAS IN OLD PALM
SPRINGS AND 48 @ BARISTO); AUTHORIZING
EXECUTION THEREOF BY APPROPRIATE CITY
OFFICIALS; AND MAKING CERTAIN FINDINGS AND
DETERMINATIONS IN CONNECTION THEREWITH
WHEREAS this City Council of the City of Palm Springs (the "Council' and "City")
has taken proceedings pursuant to the Municipal Improvement Act of 1913 ("1913 Act")
Division 12 of the Streets and Highways Code, for the formation of an assessment
district, the levy and collection of assessments, and the issuance and sale of limited
obligation improvement bonds (the "Bonds") pursuant to the Improvement Bond Act of
1915, Division 10 of the Streets and Highways Code; and
WHEREAS, the assessment district is identified as Assessment District No. 162,
hereinafter referred to as the "District'; and
WHEREAS, the developers of property within the District are Palm Springs
Modern Homes, ll, LLC, a California Limited Liability Company and Palm Springs
Modern Homes V, LLC, a California Limited Liability Company (collectively, the
"Developers"); and
WHEREAS, proceeds from the sale of Bonds shall be used, among other things,
to pay for public improvements including to pay for water system improvements and
connection fees required for the development of land within the District; and
WHEREAS, the water facilities (and the connection fees relevant to such
facilities) shall become the property of Desert Water Agency ("DWA") and it is required
by said Sections 10109 and 10110 of the 1913 Act that the transfer of such facilities be
pursuant to a written agreement between the City and DWA; and
WHEREAS, that certain "Water Facilities Agreement," in the form on file with the
City Clerk, is an agreement which meets the requirements of Sections 10109 and 10110;
and
WHEREAS, the Developers have requested that an Acquisition and Funding
Agreement be entered into as a means for Developers to recover costs advanced for
such public improvements installed by Developers and which upon completion are to be
turned over to the City and to other public agencies for operation and maintenance; and
WHEREAS, the City has caused the current Acquisition and Funding Agreement
in the form on file with the City Clerk to be prepared; and
Resolution No.
Page 2
WHEREAS, the Developers have requested that the City and the County of
Riverside enter into an amendment to the cooperative agreement with Palm Springs
Modern Homes V, LLC for the purposes of funding certain of the County's flood control
improvements from the District (the "Flood Control Agreement");
NOW THEREFORE BE IT RESOLVED, as follows:
Section 1. That the recitals set forth hereinabove are true and correct in all respects.
Section 2. That said Water Facilities Agreement in substantially the form on file with
the City Clerk is hereby approved and the City Manager and City Clerk
are hereby authorized and directed to execute the same for and on behalf
of the City.
Section 3. That said Acquisition Agreement in substantially the form on file with the
City Clerk is hereby approved and the City Manager and City Clerk are
hereby authorized and directed to execute the same for and on behalf of
the City.
Section 4. That said Flood Control Agreement in substantially the form on file with
the City Clerk is hereby approved and the City Manager and City Clerk
are hereby authorized and directed to execute the same for and on behalf
of the City.
ADOPTED this 3rd day of November, 2004.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM
City Attorney
RESOLUTION NO. "r"i
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, DECLARING THE RESULTS
OF AN ASSESSMENT BALLOT PROCEEDING
RELATING TO THE LEVY AND COLLECTION OF
SPECIAL ASSESSMENTS WITHIN ASSESSMENT
DISTRICT NO. 162 (THE VILLAS IN OLD PALM
SPRINGS AND 48 @ BARISTO), AND THE ISSUANCE
OF BONDED INDEBTEDNESS
WHEREAS, this City Council of the City of Palm Springs (the "Council' and
"City") called and duly held a public hearing and majority protest proceeding of
Assessment District No. 162 (The Villas in Old Palm Springs and 48 @ Baristo),
hereinafter referred to as the "District', on October 6, 2004, for the purpose of presenting
to the qualified electors within the District, a proposition for the levy of special
assessments within the District and the issuance of bonds on the security of such
special assessments; and
WHEREAS, notice of the hearing was mailed to the landowners of record within
the District at least 45 days prior to the public hearing; and
WHEREAS, the public hearing was duly and lawfully held on October 6, 2004;
and
WHEREAS, there has been presented to the Council a certificate of the City
Clerk called the Certificate of the Election Official as to the Results of the Canvass of the
Assessment Ballots (the "Certificate of the Election Official'), a copy of which is attached
hereto as Exhibit "A";
NOW THEREFORE BE IT RESOLVED, as follows:
Section 1. The above recitals are true and correct.
Section 2. The canvass of the votes on the assessment ballots cast in the District at
the assessment proceeding held in the District on October 6, 2004, as
shown in the Certificate of the Election Official, is hereby approved and
confirmed.
Section 3. The Proposition voted on at such proceeding received a unanimous vote
of the qualified electors voting, and has carried. No electors filed written
protests against the assessment. The Council is hereby authorized to
take the necessary steps to levy the special assessments authorized by
the Proposition, on all non-exempt property within the District, and to
issue, from time to time as it determines appropriate, bonds for the benefit
of the respective parcels of land within the District secured by such
special assessments.
Section 4. The City Clerk is hereby directed to enter the title of this Resolution on the
minutes of the Council and to indicate the official declaration of the result
of such assessment ballot proceeding.
Resolution No.
Page 2
Section 5. This Resolution shall take effect immediately upon its adoption.
Section 6. The City Clerk shall certify to the passage and adoption of this Resolution
and enter it into the book of original resolutions.
ADOPTED this 3rd day of November, 2004.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM
City Attorney
V�
EXHIBIT A
CITY OF PALM SPRINGS, CALIFORNIA
ASSESSMENT DISTRICT NO. 162
"THE VILLAS" (TRACT 29077) AND "48 @ BARISTO" (TRACT 30941)
OF THE CITY OF PALM SPRINGS
CERTIFICATE OF THE ELECTION OFFICIAL
AS TO THE RESULTS OF THE CANVASS OF THE ASSESSMENT BALLOT
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )
CITY OF PALM SPRINGS )
I, Patricia Sanders, City Clerk in my capacity as Elections Official in the
City of Palm Springs, California, DO HEREBY CERTIFY, that I did canvass the return of
the votes cast at the assessment proceedings on October 6, 2004, held in
ASSESSMENT DISTRICT NO. 162
"THE VILLAS" (TRACT 29077) AND "48 @ BARISTO" (TRACT 30941)
OF THE CITY OF PALM SPRINGS
I FURTHER CERTIFY that the Statements of All Votes Cast, to which this
certificate is attached, shows the total number of ballots cast within the territory to be
included within the District and the totals shown for such Proposition are full, true and
correct.
WITNESS my hand and Official Seal this 61h day of October, 2004.
CITY OF PALM SPRINGS, CALIFORNIA,
ASSESSMENT DISTRICT NO. 162 (THE
VILLAS IN OLD PALM SPRINGS AND 48
@ BARISTO)
L
6 y( City Clerk
ASSESSMENT DISTRICT NO. 162
"THE VILLAS" (TRACT 29077) AND "48 @ BARISTO" (TRACT 30941)
OF THE CITY OF PALM SPRINGS
STATEMENT OF ALL VOTES CAST
OCTOBER 6, 2004
Qualified
Landowner Votes
City of Palm Springs, Votes Cast YES NO
Assessment District No. 162 'The
Villas" (Tract 29077) and "48 @ ' e
Baristo" (Tract 30941) of the City
of Palm Springs, Assessment
Proceeding, October 6, 2004
PROPOSITION SUBMITTED TO VOTE OF VOTERS:
Shall the City of Palm Springs form
Assessment District No. 162 and
levy assessments for the purpose
of providing funds and selling YES
improvement bonds over a period
not to exceed 25 years from the
next September 2 following 90 days
of the date of such bonds in an
amount not to exceed $1,300,000
to pay for the acquisition and
construction of public and utility
improvements which specially
benefit property in such
Assessment District No. 162, such
property also known as Tract No. NO
29077 and Tract No. 30941 and for
the payment of costs of issuance,
the funding of a reserve fund and
capitalized interest in connection
with such bonds?
V
RESOLUTION NO.
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, APPROVING THE FINAL
ENGINEER'S REPORT, LEVYING ASSESSMENTS,
ORDERING IMPROVEMENTS, AND AUTHORIZING AND
DIRECTING RELATED ACTIONS FOR ASSESSMENT
DISTRICT NO. 162 (THE VILLAS IN OLD PALM
SPRINGS AND 48 @ BARISTO)
WHEREAS, this City Council of the City of Palm Springs (the "Council" and
"City") adopted its Resolution of Intention No. 21058 (the "Resolution of Intention"), on
July 21, 2004, for the acquisition and/or construction of certain public improvements in a
special assessment district designated as Assessment District No. 162 (The Villas in Old
Palm Springs and 48 @ Baristo), hereinafter referred to as the "District"; and
WHEREAS, this Council has approved boundary map and adopted the
boundaries shown on such map as describing the extent of the territory included in the
District; and
WHEREAS, pursuant to the Resolution of Intention, an Engineer's Report, as
therein provided, was presented, considered and approved; and
WHEREAS, prior to the public hearing set for October 6, 2004, the Engineer of
Work filed with the City Clerk a Final Engineer's Report (the "Engineer's Report") which
revised the costs and expenses of the work, improvement, proceedings and financing,
and revised the assessment roll without increasing the amount of any proposed
assessment; and
WHEREAS, the Engineer's Report of Albert A. Webb & Associates, as
preliminarily approved and now presented in final form and on file with the City Clerk
does contain all the matters and items called for by law pursuant to the provisions of the
Municipal Improvement Act of 1913 (the "Act"), being Division 12 (commencing with
Section 10000) of the Streets and Highways Code of the State of California and Article
XIII D of the California Constitution, including the following:
1. A general description of the public improvements to be included in the
District;
2. Plans and specifications of the proposed improvements;
3. Estimate of cost;
4. Diagram of the District;
5. An assessment for the improvements according to benefits; and
6. A provision for maximum annual assessments for administration of the
District; and
WHEREAS, the Council fixed 7:00 p.m., or as soon thereafter as the matter may
be heard, on Wednesday, October 6, 2004 at the Council Chambers, 3200 East
Resolution No.
Page 2
Tahquitz Canyon Way, Palm Springs, California 92262 as the place, date and time for a
public hearing on the proposed improvements; and
WHEREAS, notices of said public hearing were duly and regularly posted and
mailed or waived in the time, form and manner required by law; and
WHEREAS, assessment ballots have been received and all protests have been
heard and considered, and a full hearing has been given, all in the manner provided by
law; and
WHEREAS, a majority of the assessment ballots, weighted by value of
assessment, have been submitted in favor of the proposed assessment and the owners
of more than one-half (1/2) of the area being assessed for the cost of the proposed
improvements did not file written protests against the proposed improvements, and the
Council did, after providing a full hearing and, to the extent such were received, overrule
and deny all protests and objections; and
WHEREAS, the Council is now satisfied with the assessment and all matters
contained in the Engineer's Report as now submitted.
NOW THEREFORE BE IT RESOLVED, as follows:
Section 1. The above recitals are all true and correct.
Section 2. The Council hereby overrules each of the protests submitted, whether
written or oral, being satisfied, based upon all of the information known to
the Council and presented in the record of these proceedings, that the
recommendations set forth in the Engineer's Report are in conformity with
legal standards and requirements and that the recommended assessment
has been established in a fair and equitable manner reflecting the
estimated benefit to the respective parcels in proportion to such estimated
benefits.
Section 3. The Engineer's Report, including the assessment and diagram for the
improvements, together with appurtenances and appurtenant work in
connection therewith, is hereby approved and the assessment contained
therein is hereby confirmed as filed. The total assessment to be levied
therein is $1,300,000.
Section 4. The public interest and convenience require the proposed improvements
to be completed, and therefore it is hereby ordered that the work be done
and the improvements constructed and/or acquired in the District, as set
forth in the Resolution of Intention previously adopted and as set forth in
the Engineer's Report presented and considered.
Section 5. The assessment contained in the Engineer's Report is hereby levied upon
the respective subdivisions of land in the District as set forth in the
Engineer's Report.
Section 6. The Engineer of Work shall forthwith deliver to the Superintendent of
Streets said assessment, together with the diagram attached thereto and
made a part thereof, as confirmed, with his certificate of such confirmation
attached and the date thereof; the Superintendent of Streets shall then `� Y'
Resolution No.
Page 3
immediately record said diagram and assessment in his office in a
suitable book to be kept for that purpose and attach thereto his certificate
of the date of such recording.
Section 7. Upon confirmation of the assessment and recordation of the assessment
diagram, a certified copy of the assessment diagram shall be immediately
filed by the City Clerk in the office of the County Recorder of the County
of Riverside. Immediately thereafter, a copy of the Notice of Assessment
shall be completed and executed by the City Clerk and recorded in the
office of the County Recorder in the County of Riverside in the manner
and form as set forth by law and specifically Section 3114 of the Streets
and Highways Code of the State of California (the "Code"), whereupon
said assessment shall become a lien upon the land on which it is levied,
pursuant to the Code.
Section 8. The Finance Director, upon the recording of the assessment diagram and
assessment, is hereby directed to mail to each owner of real property
within the District at the last known address, as the same appears on the
tax rolls of the County of Riverside or as on file with the City Clerk, or to
both addresses if said address is not the same, or to General Delivery
when no address so appears, a statement containing a designation by
street number or other description of the property assessed sufficient to
enable the owner to identify the same, the amount of the assessment
securing the series of bonds to be sold secured by such assessment, the
date of recordation of the assessment, the time and place of payment
thereof, the waiver of such payment period, if any, the effect of failure to
pay within such time, and a statement of the fact that bonds will be issued
on unpaid assessments pursuant to the Improvement Bond Act of 1915.
The Finance Director shall provide notice by publication pursuant to
Section 10404 of the Act. Such notice shall not be required following
receipt by the Finance Director of any waiver of the cash payment period
or notice requirements by the property owner.
Section 9. There will be no cash payments from property owners on account of the
assessments levied, since the record owners of all property assessed
have waived the 30 day cash payment period and notice thereof, and a
copy of such waiver is on file with the City Clerk, and there has been filed
with the City Clerk a list, showing payments received and assessment
amounts remaining unpaid (the "Unpaid List'). The City Council hereby
finds and determines that authorized representatives of each of the
owners of the parcels assessed in these proceedings has filed such a
waiver to pay the assessments in cash within the 30-day cash payment
period. Accordingly, the Council orders the Finance Director to proceed
forthwith without the necessity of the 30 day cash payment period
otherwise required to provide for the issuance, sale and delivery of limited
obligation improvement bonds in a principal amount equal to the
assessments levied.
Section 10. The Finance Director is hereby directed to submit to the City Clerk the
Unpaid List. Following receipt of the Unpaid List from the Finance
Director, the Council intends to proceed with the issuance and sale of
limited obligation improvement bonds (the 'Bonds") pursuant to the 1915
Act upon the security of unpaid assessments, bearing interest at a rate
Resolution No.
Page 4
not to exceed 12% per annum, with the last installment of the bonds to
mature not to exceed twenty-five (25) years from the second day of
September next succeeding ninety days (90) from their date.
Section 11. The Council hereby authorizes the Treasurer of the County of Riverside
(the 'Treasurer") to collect installments each fiscal year until paid of the
assessment, as herein confirmed and remaining unpaid (following the
waiver of the thirty day period), in the amounts provided by the Treasurer
and remit such amounts received to the Finance Director, and confirms to
the Treasurer that the requirements of State Proposition 218, approved in
November 1996, have been met in the proceedings for the District.
Section 12, Upon reconsideration of the penalty for delinquent assessments provided
in Section 19 of Resolution 21058, adopted by the Council on July 21,
2004, the Council desires penalties for delinquent assessments to be
imposed in accordance with the laws under which the assessments are
levied, and the Council hereby amends Resolution 21058 by rescinding
such Section 19.
Section 13. This resolution shall take effect immediately upon its adoption.
ADOPTED this 3`d day of November, 2004.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM
City Attorney
RESOLUTION NO.
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, APPROVING AND RATIFYING
ALL ACTIONS HERETOFORE TAKEN IN CONNECTION
WITH THE FORMATION OF ASSESSMENT DISTRICT
NO. 162 (THE VILLAS IN OLD PALM SPRINGS AND 48
@ BARSITO), THE BALLOT PROCEDURE, PUBLIC
HEARINGS, NOTICES OF HEARING, LEVY OF AND
COLLECTION OF ASSESSMENTS, ISSUANCE OF
BONDS, AND THE REQUIRED ACTS UNDER DIVISION
4 OF THE STREETS AND HIGHWAYS CODE, DIVISION
4.5 OF SUCH CODE, DIVISION 12 OF SUCH CODE,
AND ARTICLE XIIID OF THE CALIFORNIA
CONSTITUTION; AND CERTAIN OTHER FINDINGS AND
DETERMINATIONS IN CONNECTION THEREWITH
WHEREAS, this City Council of the City of Palm Springs (the "Council" and
"City") has taken proceedings pursuant to the Municipal Improvement Act of 1913,
Division 12 of the Streets and Highways Code (the '1913 Act") for the formation of an
assessment district, the levy and collection of assessments, the acquisition of public
improvements, and the issuance of limited obligation bonds; and
WHEREAS, the assessment district is identified as Assessment District No. 162,
hereinafter referred to as the "District"; and
WHEREAS, such proceedings are authorized under and pursuant to Division 4,
4.5, 10 and 12 of the Streets and Highways Code of California and Article XIII D of the
California Constitution; and
WHEREAS, the City Council decides to approve and ratify all actions heretofore
taken in the manner set forth herein.
NOW THEREFORE BE IT RESOLVED by, as follows:
Section 1. That the recitals set forth hereinabove are true and correct in all respects.
Section 2. That all of the actions relative to the following are hereby approved and
ratified:
(a) Formation of the District;
(b) The ballot procedure;
(c) The conduct of public hearings;
(d) The giving of notice of public hearings;
(e) The confirmation, levy and collection of assessments; and
(f) The compliance with the statutes and the Constitutional provision
cited in the recital hereof.
Resolution No.
Page 2
Section 3. City Clerk is hereby authorized and directed to file this Resolution with the
minutes of this meeting.
ADOPTED this 3`d day of November, 2004.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM _
City Attorney
RESOLUTION NO.
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AUTHORIZING THE ISSUANCE
AND SALE OF LIMITED OBLIGATION BONDS IN THE
AGGREGATE PRINCIPAL AMOUNT OF NOT TO
EXCEED $1,300,000 FOR THE PURPOSE OF
FINANCING THE ACQUISITION AND CONSTRUCTION
OF PUBLIC IMPROVEMENTS, AND APPROVING
RELATED AGREEMENTS AND ACTIONS RELATED TO
ASSESSMENT DISTRICT NO. 162 (THE VILLAS IN OLD
PALM SPRINGS AND 48 @ BARISTO)
WHEREAS, this City Council of the City of Palm Springs (the "Council' and
"City") has taken proceedings for the levy of assessments and the issuance of bonds
under the provisions of the Municipal Improvement Act of 1913, Division 12 of the
Streets and Highways Code and the Improvement Bond Act of 1915, Division 10 of said
Code (the "Act'); and
WHEREAS, the Council has determined at this time to issue its City of Palm
Springs 2004 Limited Obligation Bonds Assessment District No. 162 (The Villas in Old
Palm Springs and 48 @ Baristo), identified as Assessment District No. 162, in the
aggregate principal amount of not to exceed $1,300,000 (the 'Bonds") for the purpose of
providing funds to acquire and construct certain public improvements benefiting
properties in Assessment District No. 162, to be secured by a pledge of and first lien on
the revenues to be derived from the levy and collection of the assessments, which
revenues are designed to be sufficient in time and amount to pay the principal of
premium, if any, and interest on the Bonds as the same become due and payable; and
WHEREAS, the Council wishes at this time to authorize all proceedings relating
to the issuance of the Bonds, and to approve the execution and delivery of all
agreements and documents relating thereto.
NOW THEREFORE BE IT RESOLVED, as follows:
Section 1. Adoption of Authorizing Procedures. The Council hereby authorizes the
Bonds to be issued pursuant to the Act.
Section 2. Issuance of Bonds- Approval of Fiscal Agent Agreement. The Bonds
shall be issued in the maximum principal amount of not to exceed
$1,300,000, pursuant to a Fiscal Agent Agreement, dated as of
November 1, 2004, (the "Fiscal Agent Agreement'), by and between the
City and BNY Western Trust Company, as Fiscal Agent (the "Fiscal
Agent'). The Council hereby approves the Fiscal Agent Agreement in
substantially the form on file with the City Clerk, together with any
changes therein or additions thereto approved by the City Manager, City
Attorney, Finance Director, the City Clerk or such other official of the City
as may be designated by the Council (each an "Authorized Officer"),
provided that the execution thereof by an Authorized Officer shall be
conclusive evidence of the approval of any such changes or additions.
The Council hereby authorizes and directs an Authorized Officer to
execute, and the City Clerk to attest to the final form of the Fiscal Agent r
Resolution No.
Page 2
Agreement for and in the name of the City. The Council hereby
authorizes the delivery and performance of the Fiscal Agent Agreement.
The Council hereby directs the Finance Director and Treasurer to execute
and the City Clerk to attest to the Bonds pursuant to the Act. As provided
in the Fiscal Agent Agreement, the proceeds of the Bonds shall be
applied by the City to acquire and construct certain public improvements
as per the Engineer's Report.
Section 3. Sale of Bonds. The Council hereby approves the sale of the Bonds by
negotiation with Stinson Securities, LLC ( the "Underwriter"). The Bonds
shall be sold pursuant to a Bond Purchase Agreement (the "Bond
Purchase Agreement") by and between the City and the Underwriter in
the form on file with the City Clerk, together with any changes therein or
additions thereto approved by an Authorized Officer, provided that the
execution thereof by an Authorized Officer shall be conclusive evidence
of the approval of any such additions and changes. The Bond Purchase
Agreement shall be executed in the name and on behalf of the City by an
Authorized Officer upon submission of a proposal by the Underwriter to
purchase the Bonds; provided, however, that such proposal is acceptable
to an Authorized Officer and is consistent with the requirements of this
Resolution. The amount of Underwriter's discount shall be not more than
2.00% of the par amount of the Bonds and the true effective rate of
interest to be borne by the Bonds (taking into account any original issue
discount on the sale thereof) shall not exceed 7.00% per annum.
Section 4. Official Statement. The Council hereby approves, and hereby deems
final within the meaning of Rule 15c2-12 of the Securities Exchange Act
of 1934, the Preliminary Official Statement describing the Bonds in
substantially the form on file with the City Clerk, with such changes as are
approved by an Authorized Officer. An Authorized Officer is hereby
authorized to execute an appropriate certificate stating the Council's
determination that the Preliminary Official Statement has been deemed
final within the meaning of such Rule. Distribution of the Preliminary
Official Statement in connection with the sale of the Bonds is hereby
approved. An Authorized Officer is hereby authorized and directed to
approve any changes in or additions to a final form of said Official
Statement, provided that the execution thereof by an Authorized Officer
shall be conclusive evidence of the approval of any such changes and
additions. The Council hereby authorizes the distribution of the final
Official Statement by the purchaser of the Bonds. The final Official
Statement shall be executed in the name and on behalf of the City by an
Authorized Officer.
Section 5. Continuing Disclosure Agreement. The Council hereby approves the
Continuing Disclosure Agreement between the City and BNY Western
Trust Company, as dissemination agent, in substantially the form on file
with the City Clerk, together with any changes therein or additions thereto
approved by an Authorized Officer, provided that the execution thereof by
an Authorized Officer shall be conclusive evidence of the approval of any
such changes or additions. The Council hereby authorizes and directs an
Authorized Officer to execute the final form of the Continuing Disclosure
Agreement for and in the name of the City.
Resolution No,
Page 3
Section 6. Official Actions. Each Authorized Officer is hereby authorized and
directed, for and in the name and on behalf of the City, to execute any
and all assignments, certificates, requisitions, agreements, notices,
consents, instruments of conveyance, warrants and other documents,
which he or she may deem necessary or advisable in order to
consummate the issuance and sale of the Bonds and any of the other
transactions contemplated by the documents approved pursuant to this
Resolution. Whenever in this resolution any Authorized Officer is
authorized to execute or countersign any document or take any action,
such execution, countersigning or action may be taken on behalf of such
officer by any person designated by such Authorized Officer to act on his
or her behalf in the case such officer shall be absent or unavailable.
Section 7. Effective Date. This Resolution shall take effect from and after the date of
its passage and adoption.
ADOPTED this 3rtl day of November, 2004.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM
City Attorney
Assessment
District No. 162
(The Villas in Old Palm Springs
and 48 @ Baristo)
01M Springs
AD will Finance Approx $952,000
to Reimburse Developer for:
Water and Sewer Facilities
Street Construction
Water, Sewer, Drainage Construction
(Add'I Developer Funding $177,000) Acquisition Fund $952,000
Reserve Fund 107,000
Capitalized Interest 62,000
Underwriting/OID 39 000
Costs 140.000
Total Assessment $1,300,000
Bond Term — 25 Years
Effective Interest Rate — 5.7%
Overall Tax Rates:
Villas (1,753 SgFt) 1.48%
48 @ Baristo (1,549 SgFt) 1.32%
Value to Lien Exceeds City Policy
of4to1
The Villas — 9 to 1
48 @ Baristo — 18 to 1
Overall — 11.5 to 1
Estimated Annual Assessment:
Villas $1,595
48 @ Baristo $646
September 22, 2004
r
M nnvnnvvnnvnnnnnnnnnnnnnnnnvv nvnn
�j ass�s���eeea"sae"sasae"assesses"e""ee"ass"es � A o m z �
N v�nvnvusa��Saea�aaaPoAa NR6fBMFImPoFI�NtAt m
S
n
SS��SSSSS m
. h
,K,Op N
...n......n ORRO ;11
A Xt
of FAIRL^.PP3VVC a
2 A �
O
a s
aTlm w
v A 8
N N
.rz
'2ryk
H
,fS'llL M.YG.SOlq N
14
O '�rLr
N
S°a3ThHYJ V°IN3AV
B
�a 11
moa o°anae
m oa
moa inNro
rvnasnry o°m - �y�ISE
Zft is �a
lip Ix w ` i
J o�
N
ASSESSMENT DIAGRAM _ z
ASSESSMENT 01STR/CT NO. 162
( TEE VL1AS AAD 48 @ BARISTO
crrr OF PALM SMW4 CWJTY OF MVBMM STATE OF CALFOMA ZONE 2
7RACT NO. 30941 :-nor 4ZV4 A
ARSWS
ROAD
.ounmArr
7WAYAx ox
SITE R°t
�a eor ,�sarr. ,vim
$ I 7 ootaoal !oe-lm-wra
PA4JN R6Y1 f 7 QFI
n �
Q �
VICINITY KIP
KTS
rm•aysE 3a.1R•
A L E R T A TH6 A�lT m,su„ �T sus�.,..srruTE E°T BARISTO R 0 A D
CA PY¢L ff lA`U IIRIJfD MIiF01 l!E BIMIAIES ff 1FE
A5�41[i!f oromsr. rrn�TAII$mrmrms TiE Eves ua xor ro sxE
S E O C I A T s °noire ff imE m Pums cfPe�ro TrE mMr
�s o•nruv ACE WA6 fLp F191nL 5FM i0(C+�,
W.O. 0=
RESOLUTION NO.
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.
V
Resolution No.
Page 2
ADOPTED this 3rd day of November, 2004.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM
City Attorney
EXHIBIT A
CITY OF PALM SPRINGS
ASSESSMENT DISTRICT NO. 162
(THE VILLAS IN OLD PALM SPRINGS AND 48 @ BARISTO)
CERTIFICATE OF
PAID AND UNPAID ASSESSMENTS
I HEREBY CERTIFY that (1) the 30-day cash collection period during which
assessments may be paid in cash has been waived by unanimous consent of property owners
in Assessment District No. 162 (The Villas in Old Palm Springs and 48 @ Baristo) ("AD 162"),
and no cash payments have been received in AD 162 in the City of Palm Springs, California,
and (2) that the amount of assessments remaining unpaid in AD 162 is therefore equal to the
principal amount of assessments levied, as indicated on the List of Unpaid Assessments
attached hereto.
Executed at Palm Springs, California, on November 3`d, 2004.
Tom Kanarr
Finance Director
City of Palm Springs
CITY OF PALM SPRINGS
ASSESSMENT DISTRICT NO. 162
(THE VILLAS IN OLD PALM SPRINGS AND 48 @ BARISTO)
LIST OF PAID AND UNPAID ASSESSMENTS
[See Attached List of Unpaid Assessments]
PAID ASSESSMENT: $0
UNPAID ASSESSMENTS: $1,300,000
V
� 1
P A L M S P R I N G S A D N O 1 6 2 ( T H E V I L L A S & 4 8 @ B A R I S T 0 )
Date: 09/22/04 09:21 am
Page: 1
C ON F I R M E D E N G I N E E R S R S P O R T
A.V. LAND EASE
ASSESSMENT NO. A.V. IMPROVEMENTS A.V. ASSESSMENT ASSESSMENT ASSESSMENT
ASSR'S PARCEL NO. ASSESSEE'S NAME 4 ADDRESS A.V. PARCEL YEAR LEVIRD/PENDING AS FILED AS CONFIRMED
0010001 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120058-3 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010002 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,080.00
513120059-4 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010003 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120060-4 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010004 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120061-5 ATT: ERNEST VINCENT $0
180 E. ANDREAS
PALM SPRINGS CA 92262 $66,965
0010005 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120062-6 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010006 PALM SPRINGS MODERN HOMES II $66,965 $0.00 $20,000.00 $20,000.00
513120063-7 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010007 PALM SPRINGS MODERN MOMS V $66,965 $0.00 $20,000.00 $20,000.00
513120064-8 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010008 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120065-9 ATT: ERNEST VINCE= $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010009 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120066-0 ATT: ERNEST VINCENT $0
44 PALM SPRINGS CA 92262 $66,965
P A L M S P R I N G S A D N O 1 6 2 ( T H E V I L L A S 4 4 8 Q E A R I S T O )
Date: 09/22/04 09:21 . Page. 2
C O'N F I R M S ➢ E N G I N E E R ' S R E P O R T
A.V. LAND EASE
ASSESSMENT NO. A.V. IMPROVEMENTS A.V. ASSESSMENT ASSESSMENT ASSESSMENT
ASSR'S PARCEL NO. ASSESSEE'S NAME & ADDRESS A.V. PARCEL YEAR LEVIED/PENDING AS FILED AS CONFIRMED
0010010 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120067-1 ATT: ERNEST VINCENT $0
180 E. ANDREAS _________--
PALM SPRINGS CA 92262 $66,965
0010011 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120068-2 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010012 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120069-3 ATT: ERNEST VINCENT $0
180 E. ANDREAS
PALM SPRINGS CA 92262 $66,965
0010013 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120070-3 ATT: ERNEST VINCENT $0 -
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010014 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120071-4 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010015 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120072-5 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010016 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120073-6 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010017 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120074-7 ATT: ERNEST VINCENT $0
' 180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010018 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120075-8 ATT: ERNEST VINCMI $0
PALM SPRINGS CA 92262 $66,965
OR dR �W MR
P A L M S P R I N G S A D N 0 1 6 2 ( T H E V I L L A S 4 4 8 @ E A R I S T O )
Date: 09/22/04 09:21 . Page: 3
C O,N F I R M E D E N G I N E E R ' S R E P O R T
A.V. LAND EASE
ASSESSMENT NO. A.V. IMPROVEMENTS A.V. ASSESSMENT ASSESSMENT ASSESSMENT
ASSR'S PARCEL NO. ASSESSEE'S NAME F ADDRESS A.V. PARCEL YEAR LEVIED/PENDING AS FILED AS CONFIRMED
0010019 PALM SPRINGS MODERN HOMES V $66,965 $0.00
$20,000.00 $20,000.00
513120006-9 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010020 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120077-0 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010021 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120078-1 ATT: ERNEST VINCENT $0
180 E. ANDREAE -----------
PALM SPRINGS CA 92262 $66,965
0010022 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120079-2 ATT: ERNEST VINCENT $0
180 E. ANDREAE -----------
PALM SPRINGS CA 92262 $66,965
0010023 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120080-2 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010024 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120081-3 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010025 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120082-4 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010026 PALM SPRINGS MODERN MOMS V $66,965 $0.00 $20,000.00 $20,000.00
513120083-5 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010027 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120084-6 ATT: ERNEST VINCENT $0
180 E. SA ___________
PALM SPRINGS CA 92262 $66,965
i 3 S m m m m
P A L M S P R I N G S A D N O 1 6 2 ( T H E V I L L A S h 4 8 @ E A R I S T 0 )
Date: 09/22/04 09:21 . Page: 4
C O N F I R M E D E N G I N E E R ' S R E P O R T
A.V. LAND EASE
ASSESSMENT NO. A.V. IMPROVEMENTS A.V. ASSESSMENT ASSESSMENT ASSESSMENT
ASSR'S PARCEL NO. ASSESSEE'S NAME 4 ADDRESS A.V. PARCEL YEAR LEVIED/PENDING AS FILED AS CONFIRMED
------------_____________________________ ------______z------__------ _________
0010028 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000 00
513120085-7 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010029 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120086-8 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010030 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120087-9 ATT: ERNEST VINCENT $0
160 E. ANDREAS
PALM SPRINGS CA 92262 $66,965
0010031 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120088-0 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,995
0010032 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120089-1 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010033 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120090-1 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010034 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120091-2 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010035 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120092-3 ATT: ERNEST VINCENT $0
180 E. ANDRE ___________
PALM SPRINGSRINGS C CA 92262 $66,965
0010031 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513120093-4 ATT: SANEST VINCENT _--
180 E. ANDREAS
PALM SPRINGS CA 92262 $66,965
mm � �
P A L M S P R I N G S A D N 0 1 6 2 ( T H E V I L L A S & 4 8 ® B A R I S T O )
Date: 09/22/04 09:21 . page: 5
C 0 N P I R M E D E N G I N E E R ' S R E P O R T
A.V. LAND BASE
ASSESSMENT NO. A.V. IMPROVEMENTS A.V. ASSESSMENT ASSESSMENT ASSESSMENT
ASSR'S PARCEL NO. ASSESSEE'S NAME E ADDRESS A.V. PARCEL YEAR LEVIED/PENDING AS FILED AS CONFIRMED
0010037 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141017-1 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010038 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141018-2 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010039 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141019-3 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010040 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141020-3 ATT: ERNEST VINCE" $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010041 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141021-4 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010042 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141022-5 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010043 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141023-6 ATT: ERNEST VINCENT $0
180 E. ANDREAS __._______-
PALM SPRINGS CA 92262 $66,965
0010044 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141024-7 ATT: ERNEST VINCENT $0
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
0010045 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
513141025-8 ATT: ERNEST VINCE" $0
PALM SPRINGS CA 92262 $66,965
i mMs' MwmitimmArmmimm a
P A L M S P R I N G S A D N 0 1 6 2 ( T H E V I L L A S & 4 8 @ E A R I S T O j
Date: 09/22/04 09:21 . Page: 6
C O N F I R M E D E N G I N E E R ' S R E P O R T
A.V. LAND EASE
ASSESSMENT NO. A.V. IMPROVEMENTS A.V. ASSESSMENT ASSESSMENT ASSESSMENT
ASSR'S PARCEL NO. ASSESSEE'S NAME 4 ADDRESS A.V. PARCEL YEAR LEVIED/PENDING AS FILED AS CONFIRMED
0010046 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $zo 000.00
513141026-9 ATT: ERNEST VINCENT $0
180 E. ANDREAS __------_--
PALM SPRINGS CA 92262 $66,965
0010047 PALM SPRINGS MODERN HOMES V $66,965 $0.00 $20,000.00 $20,000.00
$0
512141027-0 ATT: ERNEST VINCENT
180 E. ANDREAS -----------
PALM SPRINGS CA 92262 $66,965
00200DI PALM SPRINGS MODERN HOMES 11 $1,069,603 $0.00 $384,000.00 $360,000.00
508100041-7 ATT: ERNEST VINCENT $0
180 E. ANDREAS --__-------
PALM SPRINGS CA 92262 $1,069,603
TOTAL LAND: $4,216,958 $0.00 $1,324,000 00 $1,300,000 00
TOTAL IMPROVEMENTS $0
------------
TOTAL PARCEL: $4,216,958
7�