HomeMy WebLinkAboutMINUTES - 05251993 - 1.2 (2) TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: May 25, 1993
SUBJECT: Reassessment District No. 1993-1, East Bates Avenue; Reassessment District 1993-2,
Hidden Pond Road; Reassessment District No. 1993-3, San Ramon Valley Boulevard at
Crow Canyon Road; and Reassessment District No. 1993-4, Rancho Paraiso, County of
Contra Costa, California
SPECIFIC REQUEST(S) OR RECOMMENDATIONS) &BACKGROUND AND JUSTIFICATION
I. Recommended Action:
ADOPT resolutions authorizing the Chairman to execute agreements for Engineering Services,
Legal Services and Financial Services for Reassessment Districts No. 1993-1, East Bates
Avenue; 1993-2, Hidden Pond Road; 1993-3, San Ramon Valley Boulevard at Crow Canyon
Road; and 1993-4, Ranch Paraiso, County of Contra Costa.
II. Financial Impact:
No direct fiscal impact on the County General Fund. The Districts will benefit because of recent
reductions in interest rates. County staff costs will be recovered as a result of the refunding of
these districts. The costs associated with the Fiscal, Legal Counsel and Engineering Services
will be recovered at the time of issuance of the Bonds.
III. Reasons for Recommendations and Background:
The Assessment District Screening Committee approved the refunding of Assessment Districts
1984-2, East Bates; 1986-1, Hidden Pond; 1986-2, Crow Canyon; and 1990-1, Rancho Paraiso
on May 10, 1993. This Board action approves the consultant agreements for services necessary
to proceed with the refunding of these assessment districts. The Board will consider the
Resolution Authorizing Refunding, Confirming Reassessments and Authorizing staff to negotiate
underwriting on June 15, 1993.
r
Continued on Attachment: X SIGNATURE:
_ RECOMMENDATION OF COUNTY ADMINISTRATOR
_ RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON -77tAy X-5 /!F s 3 APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
X UNANIMOUS (ABSENT )
AYES: NOES:
ABSENT: ABSTAIN:
SCH:drg
c:B025.t5
Orig. Div: Public Works (Administration) 1 hereby certify that this is a true and correct copy of
Contact: Skip Epperly (510) 313-2253 an action taken and entered on the minutes of the
cc: County Administrator Board of Supervisors on the date shown.
Auditor-Controller , — l 5 'q 3
County Counsel ATTESTED: _
Public Works PHIL BATCHEL R,Clerk of the Board
C. Hansen,Admin. of Supervisors and County Administrator
R.Gilchrist,Accounting
Nadine Lee
Liberty Public Financial Advisors Br Deputy
Richard Nystrom, Nystrom Engineering
Robert Brunsell
Sturgis, Ness, Brunsell&Assaf
t' e-
Reassessment District No. 1993-1, East Bates Avenue; Reassessment District 1993-2, Hidden Pond
Road; Reassessment District No. 1993-3, San Ramon Valley Boulevard at Crow Canyon Road; and
Reassessment District No. 1993-4, Rancho Paraiso, County of Contra Costa, California
May 25, 1993
Page Two
IV. Consequences of Negative Action:
Without Board approval of the attached Services Agreements,the refunding proceedings cannot
continue and the owners associated with these assessment districts will miss an opportunity to
achieve reduction in their payments.
MEMORANDUM OF PROCEEDINGS TO BE CONSIDERED BY THE
BOARD OF SUPERVISORS OF THE COUNTY OF CONTRA COSTA ON
TUESDAY, MAY 25, 1993, IN CONNECTION WITH
REASSESSMENT DISTRICT NO. 1993-1, FAST BATES AVENUE;
REASSESSMENT DIS'T'RICT NO. 1993-2, HIDDEN POND ROAD;
REASSESSMENT DISTRICT NO. 1993-3, SAN RAMON VALLEY BLVD.
AT CROW CANYON R.D. AND REASSESSMENT DISTRICT NO. 1993-4,
RANCHO PARAISO, COUNTY OF CONTRA COSTA, CALIFORNIA
Because of a reduction in interest rates, it is possible to achieve some reduction in
owner payments within the East Bates Avenue Assessment District No. 1984-2;
Assessment District No. 1986-1, Hidden Pond Road; Refunding District No. 1986-2; and
Rancho Paraiso Assessment District No. 1990-1 by calling in the existing bonds and
issuing refunding bonds at the lower rates. This can be done under the Refunding Act
of 1984 for 1915 Improvement Act Bonds (Section 95000 et seq., Streets and Highways
Code).
It has been determined that the three requirements of Section 9525 of the Streets and
Highways Code have been met:
(a) annual installment of principal and interest has not increased;
(b) maturity of bonds has not been extended; and
(c) the principal amount of the reassessment does not exceed the principal
unpaid amount of the original assessment.
Therefore, it is in order to consider the following items at this time:
1. Resolution Approving Agreement for Engineering Services. This resolution is to
be passed. Please note additional instructions below.
2. Resolution Approving Agreement for Financial Advisory Services. This resolution
is to be passed. Please note additional instructions below.
3. Resolution Approving Agreement for Legal Services. This resolution is to be
passed. Please note additional instructions below.
ADDITIONAL INSTRUCTIONS TO CLERK OF THE BOARD:
A. Please have the Agreement for Engineering Services executed in quadruplicate,
attaching a certified copy of the resolution to each executed copy. Please retain
the original in your file; return one copy to Nystrom Engineering, 500 Ygnacio
Valley Road, Suite 425, Walnut Creek, CA 94596; and return two copies to our
office.
B. Please have the Agreement for Financial Advisory Services executed in
quadruplicate, attaching a certified copy of the resolution to each executed copy.
Please retain the original in your file; return one copy to Liberty Public Financial
Advisors, 2250 Fairfield Road, Pleasanton, CA 94566; and return two copies to
our office.
C. Please have the agreement for Legal Services executed in triplicate, attaching a
certified copy of the resolution to each executed copy. Please keep the original
in your file and return two copies to our office.
D. Please provide two certified copies of each adopted resolution to our office.
STURGIS, NESS, BRUNSELL & ASSAF
a professional corporation
By: Robert Brunsell
RB:jw
2
0
RESOLUTION NO. 93/310
RESOLUTION APPROVING AGREEMENT
FOR ENGINEERING SERVICES
REASSESSMENT DISTRICT NO. 1993-1, EAST BATES AVENUE;
REASSESSMENT DISTRICT NO. 1993-2, HIDDEN POND ROAD;
REASSESSMENT DISTRICT NO. 1993-3, SAN RAMON VALLEY BLVD.
AT CROW CANYON RD. AND REASSESSMENT DISTRICT NO. 1993-4,
RANCHO PARAISO, COUNTY OF CONTRA COSTA, CALIFORNIA
The Board of Supervisors of the County of Contra Costa resolves:
This Board approves that certain agreement between the County of
Contra Costa, and NYSTROM ENGINEERING, for services as Engineer of Work for
Reassessment District No. 1993-1, East Bates Avenue; Reassessment District No. 1993-
2, Hidden Pond Road; Reassessment District No. 1993-3, San Ramon Valley Blvd. at
Crow Canyon Rd.; and Reassessment District No. 1993-4, Rancho Paraiso, County of
Contra Costa, California, dated the 25th day of May, 1993, and on file with the Clerk
of the Board of Supervisors.
The Chairman of the Board is authorized to sign the agreement and the
Clerk of the Board is authorized to attest its execution.
I HEREBY CERTIFY that the foregoing resolution was duly and regularly
adopted by the Board of Supervisors of the County of Contra Costa, State of
California, at regular meeting thereof, held on the 25th day of May, 1993.
ATTEST:
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By
QRIGRA
RESOLUTION N0. 93/310
RESOLUTION NO.93/311
RESOLUTION APPROVING AGREEMENT FOR
FINANCIAL ADVISORY SERVICES
REASSESSMENT DISTRICT NO. 1993-1, EAST BATES AVENUE;
REASSESSMENT DISTRICT NO. 1993-2, HIDDEN POND ROAD;
REASSESSMENT DISTRICT NO. 1993-3, SAN RAMON VALLEY BLVD.
AT CROW CANYON RD. AND REASSESSMENT DISTRICT NO. 1993-4,
RANCHO PARAISO, COUNTY OF CONTRA COSTA, CALIFORNIA
The Board of Supervisors of the County of Contra Costa resolves:
As part of the proceedings for Reassessment District No. 1993-1, East
Bates Avenue; Reassessment District No. 1993-2, Hidden Pond Road; Reassessment
District No. 1993-3, San Ramon Valley Blvd. at Crow Canyon Rd.; and Reassessment
District No. 1993-4, Rancho Paraiso, County of Contra Costa, California, this Board
approves that certain agreement between the County of Contra Costa, and LIBERTY
PUBLIC FINANCIAL ADVISORS, dated May 25, 1993, and on file with the Clerk of the
Board of Supervisors.
The Board authorizes Liberty Public Financial Advisors to obtain an
offer for the purchase of refunding bonds for presentation to the Board of
Supervisors.
The Chairman of the Board is authorized to sign the agreement and the
Clerk of the Board is authorized to attest its execution.
I HEREBY CERTIFY that the foregoing resolution was duly and regularly
adopted by the Board of Supervisors of the County of Contra Costa, State of
California, at regular meeting thereof, held on;the 25th day of May, 1993.
ATTEST: J
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
p
By
ORB
RESOLUTION N0. 93/311
RESOLUTION NO.93 312
RESOLUTION APPROVING AGREEMENT
FOR LEGAL SERVICES
REASSESSMENT DISTRICT NO. 1993-1, EAST BATES AVENUE;
REASSESSMENT DISTRICT NO. 1993-2, HIDDEN POND ROAD;
REASSESSMENT DISTRICT NO. 1993-3, SAN RAMON VALLEY BLVD. .
AT CROW CANYON RD. AND REASSESSMENT DISTRICT NO. 1993-4,
RANCHO PARAISO, COUNTY OF CONTRA COSTA, CALIFORNIA
The Board of Supervisors of the County of Contra Costa resolves:
This Board approves that certain agreement between the County of
Contra Costa, and STURGIS, NESS, BRUNSELL & ASSAF a professional corporation,
for services of that firm as Special Bond Counsel for Reassessment District No. 1993-
1, East Bates Avenue; Reassessment District No. 1993-2, Hidden Pond Road;
Reassessment District No. 1993-3, San Ramon Valley Blvd. at Crow Canyon Rd.; and
Reassessment District No. 1993-4, Rancho Paraiso, County of Contra Costa,
California, dated May 25, 1993, and on file with the Clerk of the Board of
Supervisors.
The Chairman of the Board is authorized to sign the agreement and the
Clerk of the Board is authorized to attest its execution.
I HEREBY CERTIFY that the foregoing resolution was duly and regularly
adopted by the Board of Supervisors of the County of Contra Costa, State of
California, at regular meeting thereof, held on the 25th day of May, 1993.
ATTEST:
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator n�
By
4
RESOLUTION NO. 93/312
AGREEMENT FOR ENGINEERING SERVICES
REASSESSMENT DISTRICTS NUMBERS 1993-1, 1993-2, 1993-3 & 1993-4
(REFUNDING: EAST BATES AVE. A.D. NO. 1984-2
HIDDEN POND A.D. NO. 1986-1
SAN RAMON VAL. BLVD @ CROW CANYON RD.
A.D. NO. 1986-2
RANCHO PARAISO A.D. NO. 1990-1)
This is an agreement for engineering services between the
County of Contra Costa, a political subdivision of the State of
California, referred to as Client, and NYSTROM ENGINEERING,
referred to as Engineer.
1 . Client retains Engineer as Engineer of Work for
Reassessment Districts Nos. 1993-1, 1993-2, 1993-3 and 1993-4
(Refunding East Bates Ave. A.D. No. 1984-2, Hidden Pond A.D. No.
1986-1, San Ramon Valley Blvd @ Crow Canyon Road A.D. No. 1986-2
and Rancho Paraiso A.D. No. 1990-1) , County of Contra Costa,
California, to assist in the preparation of the reassessment report
as required by Section 9523 of the Streets and Highways Code
(Refunding Act of 1984 for 1915 Improvement Act Bonds) .
2 . In consideration of the services set forth in paragraph
1, Client shall pay to Engineer the amount of 1/3 of to of the
total amount of the bond issue, assuming that all four (4)
refundings are combined into one single Summary Proceeding.
Payment shall be made to Engineer within 30 days after delivery of
refunding bonds in the reassessment proceedings . In the `event no
bonds are delivered, Engineer shall be paid no fee .
Dated:
CONTRA COSTA COUNTY, a
political subdivision of
the State of California
.By 14;17
Chairman
ATTEST:
Clerk of the Board
of Supervisors and
County Administrator
13
/ r
NYSTROM ENGINEERING
By cl ,
Engineer of WorV
C—�
l
RESOLUTION NO. 93/311
RESOLUTION APPROVING AGREEMENT FOR
FINANCIAL ADVISORY SERVICES
REASSESSMENT DISTRICT NO. 1993-1, EAST BATES AVENUE;
REASSESSMENT DISTRICT NO. 1993-2, HIDDEN POND ROAD;
REASSESSMENT DISTRICT NO. 1993-3, SAN RAMON VALLEY BLVD.
AT CROW CANYON RD. AND REASSESSMENT DISTRICT NO. 1993-4,
RANCHO PARAISO, COUNTY OF CONTRA COSTA, CALIFORNIA
The Board of Supervisors of the County of Contra Costa resolves:
As part of the proceedings for Reassessment District No. 1993-1, East
Bates Avenue; Reassessment District No. 1993-2, Hidden Pond Road; Reassessment
District No. 1993-3, San Ramon Valley Blvd. at Crow Canyon Rd.; and Reassessment
District No. 1993-4, Rancho Paraiso, County of Contra Costa, California, this Board
approves that certain agreement between the County of Contra Costa, and LIBERTY
PUBLIC FINANCIAL ADVISORS, dated May 25, 1993, and on file with the Clerk of the
Board of Supervisors.
The Board authorizes Liberty Public Financial Advisors to obtain an
offer for the purchase of refunding bonds for presentation to the Board of
Supervisors.
The Chairman of the Board is authorized to sign the agreement and the
Clerk of the Board is authorized to attest its execution.
I HEREBY CERTIFY that the foregoing resolution was duly and regularly
adopted by the Board of Supervisors of the County of Contra Costa, State of
California, at regular meeting thereof, held on the 25th day of May, 1993.
ATTEST:
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
Countyy Administrator
ByIj
RESOLUTION NO. 93/311 +
t
AGREEMENT FOR FINANCIAL ADVISORY SERVICES
MARKS-ROOS POOL FINANCING
REASSESSMENT DISTRICTS 1993-1, 1993-2, 1993-3 & 1993-4
This is an agreement for financial advisory services
between the COUNTY OF CONTRA COSTA, a political subdivision of the
State of California, referred to as Client, and LIBERTY PUBLIC
FINANCIAL ADVISORS, Pleasanton, California, referred to as
Financial Advisor.
1 . Client retains Financial Advisor as financing consultant
to perform the following consulting services relating to
Ressessment Districts No. 1993-1, 1993-2, 1993-3 & 1993-4 (with
anticipated Marks-Roos Pool Financing) , County of Contra Costa,
State of California.
(a) present the potential alternatives in financing the
proposed project .
(b) conduct due diligence by reviewing all existing
information regarding outstanding debt, bond covenants,
prior debt repayment, and appropriate ordinances or
resolutions, including the engineering, architectural,
planning, legal and financial information regarding the
project .
(c) assist in the selection of other financing team members
as requested, including the trustee, printer, and
underwriter (s) .
(d) recommend a reserve fund, capitalized interest, and costs
of issuance.
(e) recommend specific terms for the securities including
maturity schedules, call features, refunding protection,
and others.
(f) prepare a set of financing documents and prepare an
official statement for use in the marketing of the bonds .
(g) recommend the timing of the marketing of the bond issue
based on the conditions in the market .
(h) recommend to the issuer which method of sale should be
chosen to market the bonds .
(i) in a competitive sale, prepare and distribute notice of
sale of bonds and official statement to prospective
bidders .
(j ) review bids and recommend which bid from a qualified
bidder produces the lowest net interest costs .
(k) or in a negotiated sale, recommend an underwriter (s) , and
supervise the underwriter (s) as bonds are being marketed,
getting information as to actual method of sales .
(1) review recent and comparable market interest rates and
recommend whether interest rates and other terms in the
final bond purchase contract are competitive.
(m) and in either type of sale, aid in the closing
preparations and attend the closing.
2 . The services of Financial Advisor under this amended
agreement shall not include the following:
(a) Underwriting the bond issue .
3 . In consideration of the services set forth in
paragraph 1, Client shall pay to Financial Advisor the following
fees and costs :
(a) The fee of Financial Advisor shall be a fixed fee as set
forth in the engineer' s report as finally approved under
Section 10312 of the Streets and Highways Code.
(b) The fee of Financial Advisor shall be the amount of :
1) $10, 000 . 00 if the assessments are confirmed at
$1 . 00 to 999, 999 . 99, or
2) $15, 000 . 00 if the assessments are confirmed at
$1, 000, 000 . 00 to 1, 999, 999 . 99 , or
3) $20 , 000 . 00 if the assessments are confirmed at
$2 , 000 , 000 . 00 to 2 , 999, 999 . 99, or
4) $30, 000 . 00 if the assessments are confirmed at
$3 , 000 , 000 . 00 to 3 , 999, 999 . 99, or
5) $40 , 000 . 00 if the assessments are confirmed at
$4, 000, 000 . 00 to 4, 999, 999 . 99 , or
6) $45, 000 . 00 if the assessments are confirmed at
$5, 000, 000 . 00 or more.
' (c) Costs shall be reimbursed to Financial Advisor as
follows :
1) Cost of printing and distribution of the official
statement , notice to bidders, and other official
documents .
2) Costs of Federal Express or similar delivery
service.
The cost of other services for which Financial Advisor makes
arrangements under this amended agreement (such as
Underwriter' s Discount, Official Statement printing costs)
shall be billed to the Client and shall be paid by Client
directly to the payee.
(d) Payment by Client of the financial advisory fee is
contingent upon the sale of bonds . If for any reason,
bonds are not sold, Financial Advisor shall be paid no
fee. Both the fee and costs are payable upon delivery of
the bonds .
4 . Financial Advisor certifies that it has no interest,
either direct or contingent, in any property or contract arising
from or affected by the financing, except as Financial Advisor
under this agreement . Financial Advisor does not represent any
owner of property within the proposed boundaries of this assessment
district, and has not received a fee from any source for services
connected with the project .
DATED: 1993
CONTRA COSTA COUNTY, a political
subdivision of the State of California
By .........
I� /ml4-5-;1,
Chairman of the Board of Supervisors
ATTEST:
; n
By G.
Clerk of he it and of pe visors
LIBERTY PUBLIC FINANCIAL ADVISORS
By �y�/ l - Pew ,
Nadine McKinney Lee
1-20
0
RESOLUTION NO. 93/312
RESOLUTION APPROVING AGREEMENT
FOR LEGAL SERVICES
REASSESSMENT DISTRICT NO. 1993-1, EAST BATES AVENUE;
REASSESSMENT DISTRICT NO. 1993-2, HIDDEN POND ROAD;
REASSESSMENT DISTRICT NO. 1993-3, SAN RAMON VALLEY BLVD.
AT CROW CANYON RD. AND REASSESSMENT DISTRICT NO. 1993-4,
RANCHO PARAISO, COUNTY OF CONTRA COSTA, CALIFORNIA
The Board of Supervisors of the County of Contra Costa resolves:
This Board approves that certain agreement between the County of
Contra Costa, and STURGIS, NESS, BRUNSELL & ASSAF a professional corporation,
for services of that firm as Special Bond Counsel for Reassessment District No. 1993-
1, East Bates Avenue; Reassessment District No. 1993-2, Hidden Pond Road;
f
Reassessment District No. 1993-3, San Ramon Valley Blvd. at Crow Canyon Rd.; and
Reassessment District No. 1993-4, Rancho Paraiso, County of Contra Costa,
California, dated May 25, 1993, and on file with the Clerk of the Board. of
Supervisors.
The Chairman of the Board is authorized to sign the agreement and the
Clerk of the Board is authorized to attest its execution.
I HEREBY CERTIFY that the foregoing resolution was duly and regularly
adopted by the Board of Supervisors of the County of Contra Costa, State of
California, at regular meeting thereof, held on the 25th day of May, 1993.
ATTEST:
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By
RESOLUTION NO. 93/312
AGREEMENT FOR LEGAL SERVICES
REASSESSMENT DISTRICT NO. 1993-1, EAST BATES AVENUE;
REASSESSMENT DISTRICT NO. 1993-2, HIDDEN POND ROAD;
REASSESSMENT DISTRICT NO. 1993-3, SAN RAMON VALLEY BLVD.
AT CROW CANYON RD.; AND REASSESSMENT DISTRICT NO. 1993-4,
RANCHO PARAISO, COUNTY OF CONTRA COSTA, CALIFORNIA
This is an agreement for legal services between the County of Contra Costa,
a political subdivision of the State of California, referred to as Client, and STURGIS,
NESS, BRUNSELL & ASSAF a professional corporation, Attorneys at Law, Emeryville,
California, referred to as Bond Counsel.
1. Client retains Bond Counsel as special counsel to perform the following
legal services relating to Reassessment District No. 1993-1, East Bates Avenue;
Reassessment District No. 1993-2, Hidden Pond Road; Reassessment District No.
1993-3, San Ramon Valley Blvd. at Crow Canyon Rd.; and Reassessment District No.
1993-4, Rancho Paraiso, County of Contra Costa, California.
(a) Preparation of all forms of resolutions, notices, affidavits, and
other documents required by the Refunding Act of 1984 for 1915
Improvement Act Bonds (the "Act"), including the legal format of
the engineer's report required by Section 9523.
(b) The preparation of written instructions to Client's Clerk of the
Board and other staff members concerning the performance of
legally-required duties.
(c) Review of documents prepared by Client's engineering staff or
consulting engineers, including reassessment diagrams and
reassessment rolls.
(d) Attendance at all public meetings of Client at which matters
relating to the reassessment districts are considered, except
routine matters.
(e) Attendance at staff meetings or meetings of property owners,
upon the request of the Client, after reasonable notice.
(f) Telephone consultation with staff members and property owners
to answer legal questions about the reassessment proceedings.
(g) Arrangements for the printing of refunding bonds to represent
unpaid reassessments.
(h) The preparation of a record of assessment installments for the
use of the County Auditor, if required.
(i) Arrangements for the sale of refunding bonds either by
negotiation or by public bid, at the option of Client, including a
review of financial disclosure requirements and, if required, the
preparation of the notice inviting bond bids.
(j) The preparation of bond delivery documents.
. oma .
(k) The rendition of a legal opinion on the validity of the refunding
bonds and the proceedings leading to their issuance.
(1) Preparation of a transcript of the legal proceedings in loose-leaf
form for the use of the Client.
(m) Preparation of the required reports to the California Debt
Advisory Commission (pursuant to Section 8855 et seq. of the
Government Code) and to the Internal Revenue Service (pursuant
to Section 149 of the Internal Revenue Code of 1986).
2. The services of Bond Counsel under this agreement shall not
include the following:
(a) Legal services in connection with the acquisition of interests in
real property, either through negotiation or through exercise of
the power of eminent domain.
(b) Legal services in connection with litigation.
The performance by Bond Counsel of services excluded by this
paragraph, if required by Client, shall be under separate oral or
written agreement.
3. In consideration of the services set forth inparagraph 1, Client
shall pay to Bond Counsel the following fee and costs:
(a) The legal fee shall be an amount equal to one-half of one
percent (1/2%) of that portion of the amount assessed not
exceeding $10 million, plus one-quarter of one percent (1/4%) of
that portion of the amount assessed exceeding $10 million.
(b) Costs shall be reimbursed to Bond Counsel as follows:
1) Filing and recording fees and publication costs advanced
on behalf of Client.
2) The cost of preparing auditor's record, if required: 7 cents
per assessment for each year of the bond issue, with a
minimum of $ 0.00.
3) Costs of Federal Express or similar delivery service.
4) Cost of preparation of notices to property owners.
The cost of other services for which Bond Counsel makes arrangements under this
agreement (such as bond printing costs) shall be billed to the Client and shall be
paid by Client directly to the payee.
(c) Payment by Client of the legal fee is contingent upon the levy of
reassessments and the sale and delivery of improvement bonds
representing unpaid reassessments in the reassessment districts.
If for any reason, reassessments are not confirmed and bonds
delivered, Bond Counsel shall be paid no legal fee. Both the
legal fee and costs are payable upon delivery of the bonds.
2 .
4. Bond Counsel certifies that it has no interest, either direct or
contingent, in any property or contract arising from or affected by the reassessment
districts, except as Bond Counsel under this agreement. Bond Counsel does not
represent any owner of property within the proposed boundaries of the
reassessment districts, and has not received a fee from any source for services
connected with the project.
DATED: May 25, 1993
COUNTY OF CONTRA COSTA, a
political subdivision of
the State of California
By /Gly/' /GTIZ dye SOS
Chairman
ATTEST:
Clerk of the Board
of Supervisors and
County Administrator
By
i I STURGIS, NESS, BRUNSELL &%.ASSAF
a professional corporation
By
Obert Brunsell