HomeMy WebLinkAboutResolution 9454 N.C.S. 05/24/1982_ a , ~ ~ ~
T.
~,-.r r-'`', ~ ,
. " ~ ~ . ~C~SOIU~T01~' ~NO. 9454 N. ~. S.
-- ~ of t~e City, of Petaluma, California
~ A RESOL~l1TI0N ADOPTING GUIDE°L'INES FOR
. THE ISSUANGE'• OF ECONOM~I'C DEVEL'OPMENT
~ REVENUE BONDS
WHEREAS, the C'i:ty o,f~~ Ret~°l~umaf i s a•'_muna ci paT corporati on and
charter city duly ,organ~iz:ed and existing under-a freeholders' charter
pursuant to w',hich t;he City~,,has' the rig:h~t and :power~;to` make; and enforce
al„1 l,aw.s and• regula`t;i:ons in 'respect to muni'ca.:pal ~affai'~rs a'nd certain
other matters in accordance wi~th and as..more particularly provided in
Secti:ons 3, 5 and 7 of Articl,e: XI of 'the Constitu,tion of the State of
Cal-ifornia and Sectaon 81 of the City of the Gi'ty:of Fetaluma; and,
WNEREAS, the Gi;t,y,Counc'il" of tlie Cit,y o:f Peta~luma finds that the
,, public in-terest and'.necessity`require the est~abl:ishment.of a program for
~ the authorizati~on,~sal~e and issuance of economic.de~elopment revenue
6onds by the City and, acting under Section 3,, 5 and 7`of Article XI of
~ the Constitution of the State of California and Secti'on 81 of the
Charter, adopted City of Petaluma Economie Deve.lo:pment Revenue Bond Law
known as Ordinance No;. 15:20 N.C.S.; and,
WH'EREAS, the C.ity~ Counci,l'~of the City of Pe;ta'Tuma desires to adopt
--- ~ Gui del i nes for Appl i cati`ons '~fo`r Fi nanc`i n'g under the Ci ty of Petal uma
.- Economic Development Reuenue Bond Law (Ordinance No: 1520 N.C.S.);
NOW, THEREFORE,'BE IT~RESOLVED by~the City Council that it hereby
adopts the guidelines entitled "Guidelines for Appli:cations for Fin'anc-
ing Under the Gi.ty of Petaluma Economic Development Bond Law" attached
~~ hereto as Exhibit A, att'ached hereto and incorpor-ated herein by refer-
ence..
:~
- I hereby certify the `foregoing Resolution was introduced. and, ,adopted by the '
Council •of the. City of Petaluma at a(Bl~~) (Adjouined) (:~iY1) meeting `' _ ppro d, to
on the ..24.tf1 .-•--. day of -----._.... Ma.:l! ....... .......• ..,---•-- > ~iv_..82, by the ~ '
following yote: ' ,_ ~ ., ~
- '' '~~ty~llttorney „
~ AYES: PERRY, HARBERSON, BOND, BATTAGLIA, VTCE MAYOR CAIIANAG , 1AYOR MATTE.I ~ '
,-
NOES: NONE
ABSE~NT: NONE _ , `N ; BA'LSHAW ~
ATTEST: ----- ~- -- _ : _- -- - -.- .. " - _-~• ... ....:. ..........• ' ~
-- --..
--~ ---- ; ..- ,....,
- _.... :. ,
City Clerk ' .> ~ . . ., .4'~4-:09 , . Mayor . _ „ . _
: ~ ~ -~ . COUNCIL FiLE'_'7~'~'~'7~'~~ ~ ~ ~ ~ ~ -
~ , . ." `7.`.i'. J `F . ' ~ ~ . . . . ' . - . . . - . .. ..~ ~ ~ , .
FORM CA 2 1./80 , . RES. No: ~ ~ - - . ' -
GUIDELINES . •
FOR APPLICATIONS FOR FINANC~ING UNDER THE
CITY OF PETALUMA
ECONOM'IC DEVELOPMENT REVENUE BOND LAW
MAY 24 , 1982
~~'~~~~ ~ '
courvci~ Fi~e ~~j~T'~J~~
' REB. NO. '7 ~'/'~7__„~~
These guidelines have been adopted by the City Council of
the City of Petaluma (t'~he "City") for the purpose of
establishing guidelines for the_ submission and review of
applications for financing under the City of Petaluma
Economic Develo:pment Revenue Bon'd Law (the "Bond Law"). All
projects to be f`ina:nced under the Bond Law are subject to
these guideline:s. A11 terms used herein shall have the same
meanings given such terms in the Bond Law.
APPLICATION FOR fINANCING
Application for financing under the Bond Law shall be filed
in writing with the City Clerk of the City at City Hall,
P. 0. Box 61, Fetaluma, California 9495:3. Each application
shall be accompanied by an application fee in the amount of
one-quarter of qne perce;nt (0.25%) of t.he face amount of the.
bonds and shall set forth the following information in the
order prescribed below and should include all documentation
specifically required or otherwise appropriate. Any
information and documentation which are not readily
available at the time an Application is filed must be
submitted at a later time to be designated by the City
Manager. At his discretion, the City Manager may recommend
that the City Council aceept an incomplete Application. The
resolution approving such an Application may be rescinded or
amended if the r.equired supplemental~ information and~
documentation (i) are not provided to the City by the
prescribed time, (ii) are unsatisfactory.to t.he City Manager
or City Council, or (iii) are inconsiste.nt with the findings
made by either the City Manager or the City Council with
respect to the original Application. •
A. Applica:nt.Information.
1. Name of Applicant:
2. Legal form of A.pplicant:
Individual (s)
Partnership
Corporation
Trust
Other:
,,.'~'~.: ~ ~I~ ~ COU E19. N1O. ~Q~
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3. Unless Applicant is an individual, please attach
copy of partnership agreement, articles of
incorporation, instrument creating trust or other
document evidencing existence.
4. Principal office of•Applicant (address and
telephone number):
5. Name and title of contact person or persons (give
address and telephone number if different from 4
above):
6. If Applicant is a partnership, attach a list of the
partners; if a corporation or association, attach a
list of the board of directors, principal officers
and any parent corporation and subsidiaries.
7. Unless the Applicarit is an individual or a trust,
attach a d`escription of the Applicant's business,
including its history, major products or services,
major customers, suppliers and competitors, and
operations in the City of Petaluma.
8. Attach a list showing the firm name, address,
telephone number and individual contact name of
each of the following who are now known:
(a) Applicant's general legal counsel
and local counsel who will participate in the
proposed financing.
(b) Underwriter or purchaser or
placement agent for the proposed bonds.
(c) Counsel for underwriter or purchaser
or placement agent.
(d) Bond counsel.
9. Will any entity other than the Applicant own the
site of the proposed facilities? If
so; p,lease attach a copy of the lease.or other
agreement under which the Applicant will use the
project site, or if such agreement is not yet
available, describe the terms of the agreement that
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p j~°~ ~ COUNCIL FILE ~4 ~~~
~~~~C~E Y ~ RE6. NO. ~~5~~.
wi11 be execute;d; and give the name, ad'dress,
te.lephone number arid co"ntact p.erson of the owner of
the s'ite. ' ~
B.
10. Will,.any entity other fihan~the Applicant use any
part of.the proposed facilitie:s? I.f so,
at.tach a supplement to thi's application describing
th:e.:agreemen~t under wh'ich ariy. such other entity
will use the facilities (incTudinq, if available, a
setting forth tn
copy of.such agreement) and he
information about such other entity which is.given
for the Appli,cant in items 1, throug.h 7 and 8'(a)
above. ~
11. Will an~y enti`ty other than the Applicant.guarantee
~ >
the pr:o.p'osed bonds or guarantee the obligation of
the App'lic;an-t to, the City? ~ If ~so, ~ attach:
a suppl.ement to 'this applicat`i.on. identifying such `
other entity (name, address,, tel:ephone number and
contac,t ,person) ;: describing the :re.lationship
between the Applicant and such ~ntit:y.and setting
forth~ the financial information :a~bout such ;entity
which is :given for~:the ~Applicant in „S`ection -E beTow.'
Project Informati.on. •. -
1. Location o:f: propo;sed facilities (give address a~nd, -
if available, attach legal description):
2. ~Description o.f facilities (check~one or more):
Constr.uc:tion bf riew facility'
Addition t`o existing.facility ~
Renovation of exi~sting facility ~ ~
Acquisit'ion of existing f;acil-ity
Acqui'sit`io:n of machinery and equipment ~
Acquisition of land . ~ .
3. Attach narratsve description of the facilities,
inc,luding: , , - ,
3
~ ~a~-d~
~°~.~~~~~ ~ ~ COUNCIL F1LE _ . ~~~~~.
~~ f'.EB. NO: .~~... ' -
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( a;)~ ar-ea of lan'd to be a:c,quired and
. nature o'f .improvement~s 'to be made to land;
(b) sizes arid.typ:e,s o.f any buildings or
buil,ding additions to-be constructed;
(c) si~ze and type of exi,s.ting facilities
to be ac'qui red; ,
, (d) nature of renovations to be m`ade to
exist'ing facilities; ~
(e) items of machinery and equi.pment to
,be.~aequi.red and install,ed. '
4. If the p;roj°eet involve:s new construction, attach a
survey of the project si,te ;showing =ltocation of
proposed improvements..; if the proje,ct involves
acquisi'tion 'o,f existing 'facilities, attach a survey
of the pxoj,ect site showirig-ex:isting improvements.
If suc:h a survey has not yet°.be~n made please
submit it to the Gity when available.
5. Descri-be the operations for which-the facilities
are to be us:ed::
~ 6. Will any operations now conducted by the Applicant
or other user °of the proposed, faci~:lities in an.y
- other area in.Cali,forni,a be re"loeated or abandoned
as. a result 'of the comp'let;ionk and operation of the '
proposed facil~iti.es'? ~ If so, please
attach a description~of:such.other operations,~the
', reasons fo.r.relocation or ab'andonment and the other
~~ s~ites~ the Appl:icant is actively co.nsidering: .for
location of: the operati.o'ns tb be conducted at the
p ro.posed facilities.
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~~3~~tl~ . . GOU'I~GIL FILE ~OT' ~O~
I~ ~.. • FtES. NO. ~7 T~~
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7. Will the fac'ilities'meet zoni"rig requirements at the
prop.os;ed location? Will a.'zoning variance
be required? If's`o,. has an application
been made for ~such,'varia"nce:? °~ .
8. Attach a deser.i;ption of any add~itional public
services which wil,l be re'qui;r,ed for the facilities,
including water or sewer°Tines or..other utilities,
dedication of roads., publ`ie t:ran_sportation
services, and other services:
9. Does Applicant now own the site,of the proposed
facilit.ie~s'? If not,, has~ the Applicant
entered i-nto an option or commitment or other
agreement to pur:chase the larid? If so,
pleas'e attach a copy of such agreement.
10. Proposed c'ommencement date of acquisiti'on or
construction of the facilities+: ~
11. Estimated date on which facilities will be in
operati,on:
12. May the construct-io,n or operati.on of the facilities
potentially result in any of the following:
yes no ~
~/ ~/ Emissio:n •o,f air pol:lutamts of an~y kind or in
ariy amount?
~/ ~/ Discharge of water pollutant's of any kind or
in, any amount?
~/ L/ Production, storage, processing or use of
solid waste?
L/ ~/ Production, storage, proce~ssing or use of
hazar.dous materials, including. solid pr:oducts
- ~ of combustion? ~
~/ ~/
~/ ~/
~/ ~/
~/ ~/
Noise?
S'•treambed or lake alte'ration or significant
increase in-„use or diversion of water?
Impact, up.on an his:torical landmark,
archaeological site, wilderness or park area?
Combustion of oil or natural gas?
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' ' ~a COUNGIL FILE ~ ~0(~~
~~~~~~ g ~ RES. SVO. r:..~( ~/,...~+
~/ ~/ Substantial dire,ct o~r ~indirect isnc~rease in
energy consumption? ~
~/ ~/ Visual or aesthetic, ,impac.ts?
~/ ~/ D-red.ging~ or fillin,g of wetlan'ds or navigable
waters? . - ~
~/ ~/ Const~ruction in a floodplain or seismic risk
area? . -
~/ ~/ prillirig,or use of, any weT.l?
~/ ~/ Alteration of the natural cont`ours of the land?
~/ ~/ Sizbstantial increase i.n ;'traffic?
~/ ~/ Displacement of people, or increase in need ,
for s:ocial services. (schoo-ls, police and fir.e
~ departmerits, etc.)?'~ ,. ,
~/ ~/ DispL:acement or other ef_f'ect on fish ox
wildlife habitat? ~
~/ ~/ Use of ,nuclear .materiaTs? ~ ~
~/ ~J Other erivironmental'imp;act:s?
If ~yo.ur answer to any `o;f the above is yes, ~
p.Tease exp°l:ain why. _- ~
13. List all permits required f:or the facility, the
dates applicat'ions for such.permits were or~will be
<filed, and whether such perrni,ts have been received.
14: Describe any actions taken or to be~~taken in order
to comply with the California Envi"ronmental Quality
` Act and/or the~:National Erivironmental Policy Act..
C. Project Cost Information.
1. Estimated cost of the project,, including cost of
facilities and financing costs:
~Land;and existing improvements $
Cons~truction of' new bui,ldings
Cons.t•ruction of bu:i,lding additions
6 ' - .
~0~: D 9
~i~p~i~~~~^,~ Co~ RES. NO, . ~/: ~'~
OtYier site improvements _
~ Renovation of existing buildings
. Machinery and equipmerit ~
Architectizral & engineering fees '
- ~ Attor.neys' fee`s ~ ~
Underwriter's discount or pl.aeement fee
Trustee's fees . .
Capital.ized int'erest and other '
financing costs
. .App,lication fee .
~ Other '
Total $
_ 2. Maximum amount of bond issue requested by this
application: $
~ 3. Identi.fy s,ource of funds to pay proj.ect costs not .
p:aid from bond proceeds:
' 4. Desc,ribe the proposed or d"_es,ired te-rm and interest
rate of the financing and the desired form of
. . offering (-direct sale to i•nvestor, insti-tutionaL
~ pri,vate placement or underwr'itten offering).
~ 5. Identif:y the proposed purcha~ser of the bonds,
. ~ ~ underwr-iter or placement ag:ent~for the App:licant,
.and~attach a c.opy of any c'ommitment letter £rom
~ such~prospective purchaser~or any agreement with
such:underwriter or placement agent.
6.. Indic.ate desired method of financing:
~ t Loan of bond proceeds by C'ity to
Applicant. °
. ~
. . . ~~~~~~~ ~
COUNCIL FILE ~V r~ ~ ~
REB. No. .~9~f~ ~
. Lease of facilities by City to Applicant.
Installment sale of facilities by City to
.:Applicant.
D.. Information Regarding Public Benefits. (If applicable,
information in this section is to be given for both the
Applicant ariel any other entity that will use the
facilities.) ~
1. Current employment and payroll in the City of
Petaluma: ~
Number of Employees Annual Payroll
Full Time $ .
Part Time ,
Seasonal
. Total $
2. Estimated employment upon project completion:
. Number of Employees Annual Payroll
Full Time $
Part Time
Seasonal
Total $
3. Estimated employment 2 years after project
completion: .
Number of Employees Annual Payroll
Full Time $
Part Time
Seasonal
Total $
8
. ~~~~~~~ ~ rOUNCIL K'IL~ ~O ~~ ~
• ~tEB. NO. ~,] ~S ---•-~
4. Estima,ted i;nere.ase in dollar,amount of sales after
' project completi.on: .
Current sales $
. One~ year a'fter completion $
Two years after completion ;:$
5. Esti-ma~:ted' inc~rease in dollar amount o~f Applicant' s
real and personaT property in the~City upon
comple,tion of the.,project. •
6.. If applicable;;, attach a d'escription of' how the use
of the fac-iliti;es will reduc'e, or improve the
disposition .o;~f, waste mat`er~ials•.
7. Attach a descri.ption of hgw the use of the
facilities ~wi;ll benefit consizmers re'siding in th'e;
C,ity by<improving the quality o:r quantity or
_
reducin,g the price of produ'cts;,: energy or related
service:s or.facilitie.s or by pro'duci;ng new or -
~ improved~ p;roducts' or ,re.l;ated serv~i.ces or facilities
which wil:l be available to such eonsumers.
~ 8. If applicable, att;ach a desc;ript~Yon of how the use
of the facil'ites will contribute to~the stability
and diversi£ic,ation of the 'City'',s••economy.
E. Financial Information.
1. Does the Applicant expect to..grant a security-~
inter.est in the facilities to secure the proposed
bonds or the~Applicant's obliga;t'ion to the City?
If so, ~attach an appra~is~a'T, •prepared by an
independent appr,aiser showrrig,the expected value of
the facil~i,t;ie~`s ~•upon comp~leti°on.- ..If not, will there
be other seciirity for the bonds o`r for such
obligation?~ If ~so, please attach a
desc.ription, and apprai;sal of such security. lf t~he
security i=!s .°to •:be~.a guarante,e b.y an entity other~
than the Applicant or.:a g.overnm'ental.agency, please
supp•ly tli.e info.rmat=ion': requested in 2 through 7~
, below for both the Applic.ant and such other entity:
" . 2.. If the~App:licant is a publ;ic' eorporation, on what
stock_ ~exch~ange is it listed?
, 3. If the App~licant is a privately heTd cor-po;r;ation,
~ ~ . a:ttach a'l'r':s:t of principal (more than 10%)~ °
_ stoc~kh'olders. .
9 " 1~~ . ~ ~I ..
. ~U~:ct~ FILE `~
, ~~6-Ei3~~tl~ ~ REB. NO. ~.(
4. Attach audi'ted financial statements of the
Applicant for the last two fiscal years.
5. If appli.cable, att.ach annual r;eports (or form
10-K's), for the two most recen,t fiscal years,, a•nd
guart'erly rep:orts (Form 10-Q's) and current reports
(Form 8-K's`) since the mo,st recent~annual report,~
if any,. (If the ~le'gal form of the Applicant is
. such that the.flnancial statements or.reports
required~above are not avai,lable, unaudited
financi~a:l.. statements,or Federal income tax returns
may b.e submitted instead.)=
6. Attach a desaription of any significant pending or
thr.eateried litigation involvirig the Applicant.
The undersigned individu,al,s hereb.y. certify that
they have the au`thority to submit thi:s application in the
name and on behalf of the Appl;ica•nt:named herein, as shown by
their titles appearing under thei:r si:gnature_s below,'~that ~
they have reviewed all.of the inf,ormation set forth -in this
application, including al-1 attachments,~that tYiey are
sufficiently 'familiar with the affair;s: of. the..Applicant,to
determine the accuracy ,of such infoxmation, and that to the
best knowl:edge of the undersigned the in~formation set fo;rth
in this applicat.i.on, incl`uding all at~tachments, is true, -
complete (except as noted herein) and co'rrect as of the d'ate
hereof. The undersigned agree; that if any of~such
information becomes or is discovered to~be i-naccurate prior
to the issuanee'af bonds or rejection of this application by
the City, ~the uridersigned, wil.l give the City :promp:t notice.
and correcti,on of such inaccuracy.. The undersigned furthe"r
agree to supply to the City a•ll.informa:tion and materials
necessary to complet'e this application a's soon'as the same
can be made availab:le.' ~
.~ The undersigned "under.stand that i
this application, and~whether or not-bonds.
issued to finarice the proposed.project,_ the
10
~~fl-TiH~~~ d~
f the 'City accepts
are ultimately
Applicant will be
-pUlVClt FILE ~~/~ ~
R~s. n:o. _.9~s.`/_ =--~'
re:quir:ed to pay a;l;l fee;s and expenses of counsel for the Ci.ty
and' bond counse~l in-,connection'with the proposed financing.
• This application is~,dated, and submitted ,
19 .
_ (Signature)
(Title)
~ ~ (Signature)
(Title)
On behalf of:
4
(Applicant)
~
_ <'OUNGIL FILL ~D C~~ ~~..
RE8. No. ~.-~~/-"'-' ,
-.::
REV I,EW OF AP~P L I CAT I ON
All Applicat-ions f.i:led with the; City C:lerk shall be
referred to the City Manager, who..i:s hereby designated the ,
coordinator'of the Appli.cation process,; The,City Manager
shall forthwith;re~iew-each.Application to determine its
sufficienc.y and .sha-ll notify-~the:Applicant within seven
working day_s after fi;ling with the City Clerk whether such
Application contains suff:icient inforinatiori o;r..whether
additional info~rma,tion or agreements are required. When
he/:she has determined tYi~at an Applicati.on contai-ns sufficient
information and agre.einents,-the City Manager shal.l coordinate
the review of such Application.with interested members o£ the
City staff. Such reView sha1-1-include the~making of
appropriate determinations co:ncerning tYie financ'ial
feasibility of the,proposed project and the probable
contribution of the proposed,project'to the public;purposes
and municipal affai.rs set for"th in Section .102 of the
Bond Law. Such dete~rmiriations shall be made within thirty
days after the City, Manager ha"s determined that the
Applic:ation e.ontains :sufficient informa.ti;on.. If it shall be
determined that the proj~.ect is.~ f~inanc`ially feasible, is
likely to make significant benefici.al contributions to the
purposes of the:$ond Law,.and is the type of project which it
is the po.licy of the City to promote,,the City Mana,ger shall
proceed to pr.epare or cause to`be prepared~ an appropriate '
written report- on th'e Applicatiori to the City Council. I'n
the event that it shal.l be determined that'.the prop.osed
project is not fin.ancially feasib.le, or .is:~<not:'likely to make ~
significant beneficial,contribut~ions:t'b the~pur-poses of the
Bond Law, the City~ Manage.r~ shall so- na<tif;y tYie Applicant in
writing, and such determination shall':be eonclusive.
. .
Upon an affirmative determination that a proposed
project is financi:ally,fea'sible, is li~kely to make
significant`beneficial co.ntributi,ons.to the purposes of the~
Bond Law, and is the type of pro.ject which it is the policy
of the City~to promote, the City Mana"ger;shall file a copy of
th'e Application, as then~amended or supplemented,'together
with the r,eport pr.epar,ed by the City Manag.er, wi°th the City
Clerk for entr,y into the records of the City. As soon as it
shal,l` be convenient to• d,o so, the City Council shall, at a
publi.c meeting, proc:eed~to review the Appli,cat,ion, take such,
ev;iderice as it deems';necessary or deslrable., including
hearing:any interested.member of the:public, f,or the purpose
of det~ermining wheth°er• formally to aecep.t and ~•approve the . ~
App1"ication. I;f 'the, Gity Council chooses•. to • approve any
Applicat-ion, it shal~l,adopt a resolution to that effect.
Notice~.of such 'approval shall be published once by the City
Clerk i-ri the of,ficial newspaper withinsthe City as soon after
the passage thereof as:~is practicab`le: The City Council may
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RES. NO.
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continue its con'siderat'ion of the Application from time to
~ time as in its judgme:nt i~t deems necessary„ or for the
purpose of obtaining additional information o,r agreemerits
from the Applicant.~ In the event that the City Council
~ determines not to.appr:oye and accept any Application, it
shall do so by motio.n_duly recorded in its minutes.. The
determination by the City Council to accept and approve any
Applicati:on~in no:way shall constitute a eommitment or
agreement by~the Gity to consummate the financing of the
project. Ang~Application which has b.een~accepted may be
subsequently re;je.cted,. and the resolution approv'ing such
application ,may. be subs:equently "rescinded b:y the Ci"ty Council
at any time before the issuance of: Borids therefor and for any
reason. ~~
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