55B - RESO - WARNER ASSESSMENT DISTRICT

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Resolution to Issue Bonds related to the Warner Industrial Community Assessment District June 21, 2016 Page 2 City Contribution), Warner Industrial Assessment District revenue account and appropriating the same into the Warner Industrial Assessment District expenditure account. 7. Authorize issuance of a Notice to Proceed to Psomas to provide assessment district administration services for the period of June 21, 2016, through August 5, 2019, in an amount not to exceed $22,250, subject to nonsubstantive changes approved by the City Manager and City attorney, in accordance with Agreement No. A- 2015 -167 for on -call engineering services, which was executed on August 5, 2015, with the option for up to two one -year renewal options exercisable by the City Manager and the City Attorney. 8. Authorize the City Manager to execute prepayment totaling $47,441 on behalf of the Santa Ana Unified School District for assessment of their Parcel No. 408- 021 -01. 9. Authorize ongoing negotiations with the Santa Ana Unified School District for the above - referenced amount for the purpose of receiving payment of assessed prepayment value. The issuance of Limited Obligation Improvement Bonds (Bonds) and approval of documents related to the issuance of such bonds (Resolution of Issuance) will allow bond financing in a principal amount equal to the remaining unpaid assessments levied on properties within the Warner Industrial Community (WIC) Assessment District (AD) following the closure of the prepayment. The bond proceeds, together with the prepaid assessments, will fund the contribution by the property owners toward the cost of the public streets improvements in the WIC area. The City of Santa Ana owns two properties within the WIC AD. Together, these properties provide an easement to access the Santa Ana Police Department Training Facility from Castor Street (Exhibit 1). The total assessment for these properties is $38,300 if paid over the next 20 years. However to save $10,857 in administrative fees, staff recommends prepayment of these assessments in the amount of $13,107 for Parcel No. 408 - 113 -11 and $14,336 for Parcel No. 408 - 161 -17, for a total amount of $27,443. Background In July 2015, the City Council, at the request of, and in cooperation with, WIC property owners, adopted a Resolution of Intention to consider the formation of the assessment district. In April 2016, City Council held a public hearing pertaining to the declaration of the City Council's intention to form the AD, and received public testimony on the matter. Upon the closure of the public hearing, the Clerk of the Council, acting as the tabulation official, tabulated the assessment ballots. The Clerk reported that 70.3 percent of the ballots were in support of levying the assessments and, consequently, there was not a majority protest against the assessments. Following the Clerk's report, the City Council adopted Resolution No. 2016 -021 approving the report of the assessment engineer, declaring the results of the assessment ballot tabulation, and confirming the formation of the AD. 55B -2