HomeMy WebLinkAbout1981-05-19; City Council; 6520-1; Acceptance of loan for street light conversion— CITY OF CARLSBAD _ ^
Initial:
AGENDA BILL NO. 6520 - Supplement No. 1 Dept. Hd.
DATE: May 19. 1981 C.
DEPARTMENT: Utilities & Maintenance C. Mgr.
Subject: ACCEPTANCE OF LOAN FROM STATE OF CALIFORNIA FOR
CONVERSION OF STREET LIGHTS
Statement of the Matter
The State of California Energy Commission has approved a loan to the City of Carlsbad in the
amount of $381,500 for the conversion of 1820 city-owned street lights to high pressure
sodium vapor. These funds will be made available after July 1, 1981 with the first payment
of $50,226.92 :due in December 1982, and due semi-annually thereafter for five years. The
interest is stated as 7-3/4% simple interest on the unpaid balance.
Fiscal Impact
The loan is to be repaid and the amortization schedule is set up for the repayments to be
made from the cost of energy savings realized from converting the street lights from mercury
vapor to high pressure sodium vapor. These payments will be incorporated into the costs of
the Street Light Improvement District and the annual levy will be set by Council in the
manner set forth in the Street Lighting Act of 1919.
Exhibits
A. Letter from the California Energy Commission with Loan Agreement and Promissory Note.
B. Resolution No.
Recommendation
Approve Resolution No. fr^T'eiA authorizing the Mayor to execute the Loan Agreement and
Promissory Note on behalf of the City for a loan of $381,500 from the California Energy
Commission.
APHBOVED
STAfE OF CALIFORNIA—THE RESOURCES AGENCY EDMUND G. BROWN JR., Governor
CALIFORNIA ENERGY COMMISSION
1111 HOWE AVENUE
SACRAMENTO, CALIFORNIA 95825
April 27, 1981
City of Carlsbad
1200 Elm Avenue
Carlsbad, California 92008
Attention: Robert Miller
Engineering Tech.
Dear Mr. Miller:
You will be pleased to learn that your Energy Conservation Assistance Loan
Application has been approved for the purpose of:
Energy Conservation Measure/Streetlighting
The Loan amount is $ 381,500.00 at 7. 75percent per annum, and is to be re-
paid in 10 semi-annual installments of $ 50,226.92- Payments are to be made
from energy savings.
Please note that the figures shown in the attached amortization schedule are
approximations based upon information available at the time this loan was
made. The final payment may vary from those shown, or the Promissory Note
redrawn because:
A. The law requires payments to begin no later than December 22
following the fiscal year in which the project is completed.
Shown in the amortization schedule is the estimated project
completion date.
B. Loan funds were assumed to have been advanced on the estimated
date shown. If the funds are advanced on a different date, or
if funds are advanced on a construction progress basis, the
payments will vary from those shown.
C. The payment amount was calculated to amortize an amount which is:
1. The loan amount shown, and
2. The accrued interest from the estimated project start date
through 06/22/81 (six months before the assumed firsjt payment
due date).
Enclosed are 4 (four) copies of the Loan Agreement, Promissory Note and
Invoice(s). Please have all copies signed with original signatures. Retain
1 (one) copy and return 3 (three) signed copies of the Loan Agreement and
Promissory Note to this office.
CECLO-4 (10/80)
The invoice form must be signed with original signatures on each copy. When
payment is desired, complete 4 (four) copies of invoice, retaining 1 (one)
and sending 3 (three to:
California Energy Commission
Loan Office, M.S. 57
1111 Howe Avenue
Sacramento, California 95822
The original invoice may be for up to 10% of the amount of the loan in advance.
All subsequent invoices shall be on a progress payment basis and be accompanied
by billings to substantiate the invoice.
According to the following loan disbursement schedule, which has been determined
appropriate for your loan, your loan disbursement schedule will be as follows:
Disbursement of total amount of loan in not more thanio seperate payments as
required ducing the course of the approved project in order to finance con-
struction progress, with supporting documentation. Interest will start at the
time each check is drawn by the State Controller's Office. Receipt of check
can normally be expected within two to four weeks after submission of invoice.
Please also attach a copy of a resolution of your governing body authorizing
the signer to enter into and obligate your organization to this Loan Agreement
and Promissory Note, (and Deed of Trust if applicable).
Annually, at the completion of each fiscal year, but not later than October 31,
each institution must prepare and submit to the California Energy Commission
an Annual Energy Savings Report. This report must show the computed cost of
energy saved as a result of the project completed with loan funds. Also, a
copy of the Energy Audit Report and Technical Audit Report (if applicable)
must be submitted to the California Energy Commission at completion of the
project.
Should you have any questions, please do not hesitate to call me at
(916) 920-7215.
Thank you for your cooperation.
Sincerely,
JOHN L. TITUS
Loan Officer
Enclosures
CECLO-4a (10/80)
04/13/81 CALIFORNIA ENERGY COMMISSION PAGE 1
tNERGY CONSERVATION ASSISTANCE LOANS
LOAN AMORTIZATION SCHEDULE
LOAN NUMBER
ORGANIZATION
LOAN AMOUNT
ANMUAL INTEREST RATE
NUMBER OF SEMIANNUAL PAYMENTS
ESTIMATED LOAN START DATE
ESTIMATED PROJECT COMPLETION DATE
ASSUMED FIRST PAYMENT DATE
119-000
CITY OF CARLSBAD
381t500.00
7.75
10
07/06/81
10/06/81
12/22/B2
DATE TRANSACTION AMOUNT INTEREST PRINCIPAL BALANCE
07/06/81
06/22/82
12/22/82
Q6/22/R3
12/22/83
06/22/84
12/22/84
06/22/85
12/22/85
06/22/86
12/22/86
06/22/87
LOAN ADV
AMORTIZA
PAYMENT
PAYMENT
PAYMENT
PAYMENT
PAYMENT
PAYMENT
PAYMENT
PAYMENT
PAYMENT
PAYMENT
ANCE
TION
NO.
NO.
NO.
NO.
NO.
NO.
NO.
NO.
MO .
NO.
DATE
01
G2
03
04
05
06
07
08
09
10
381,500. 00
50,226.92
50,226.92
50,226.92
50,226.92
50,226.92
50,226.92
50,226.92
50,226.92
50,226.92
50,226.91
28,432.20
15,884.87
14,554.12
13,171.80
11,735.91
10,244.38
3,695 .06
7»C!85.7Q
5,413.98
3,677.48
1,873.69
34,342.05
35,672.80
37,G55.12
38,491.01
39,982.54
41,531.86
43,141 .22
44,812.94
46,549.44
48,353.22
381,500.00
409,932.20
375,590.15
339,917.35
302,862.23
264,371.22
224,388.68
182,856.82
139,715.60
94,902.66
48,353.22
O.QO
LOAN NO: 119-000
LOAN AMOUNT: $38i»soo.oo
ENERGY CONSERVATION ASSISTANCE LOAN AGREEMENT
THIS AGREEMENT IS MADE AND ENTERED INTO THIS 13 DAY OF APRIL 1981,
IN THE STATE OF CALIFORNIA BY AND BETWEEN THE STATE OF CALIFORNIA*
CALIFORNIA ENERGY COMMISSION* HEREINAFTER "COMMISSION"* AND CITY Op
CARLSBAD HEREINAFTER "BORROWER".
1. AUTHORITY
A. PURSUANT TO THE PURPOSES AUTHORIZED BY THE ENERGY CONSERVATION
ACT, SECTION 25410* ET SFQ, OF THE CALIFORNIA PUBLIC RESOURCES
CODE, THE COMMISSION HAS APPROVED BORROWER'S LOAN APPLICATION
DATED __MaX£ti_JLv.:Laaj WHICH IS NOT ATTACHED BUT IS EXPRESSLY
INCORPORATED BY REFERENCE HEREIN.
B. SUBJECT TO THE TERMS* COVENANTS AND CONDITIONS CONTAINED HEREIN*
AND THE ATTACHED LOAN APPROVAL REQUEST TO THE EXTENT IT MODIFIES
BORROWER'S LOAN APPLICATION, THE COMMISSION SHALL MAKE A LOAN TO
BORROWER IN THE AMOUNT OF THRF.E HUNDRED EIGHTY-ONE THOUSAND FIVE
HUNDRED AND OG/10D DOLLARS ($381*500.00* EVIDENCED BY A PROMISSORY
NOTE LOAN NO. 119-000 ATTACHED HERETO AS EXHIBIT A.
2. GENERAL TERMS
A. THE BORROWER AGREES TO INDEMNIFY* DEFEND AND SAVE HARMLESS THE
STATE, ITS OFFICERS, AGENTS AND EMPLOYEES FROM ANY AND ALL
CLAIMS AMD LOSSES ACCRUING OR RESULTING TO BORROWER AND TO ANY
AND ALL CONTRACTORS* SUBCONTRACTORS, MATERIALKEN* LABORERS AND
ANY OTHER PERSON* FIRM OR CORPORATION FURNISHING OR SUPPLYING
WORK, SERVICES, MATERIALS OR SUPPLIES IN CONNECTION WITH THE
PERFORMANCE OF THIS AGREEMENT* AND FROM ANY AND ALL CLAIMS AND
LOSSES ACCRUING OR RESULTING TO ANY PERSON, FIRM OR CORPORATION
WHO MAY BE INJURED OR DAMAGED BY THE BORROWER IN THE PERFORMANCE
OF THIS CONTRACT.
B. THE BORROWER* AND THE AGENTS AND EMPLOYEES OF BORROWER* IN THE
PERFORMANCE OF THIS AGREEMENT* SHALL ACT IN AN INDEPENDENT
CAPACITY AND MOT AS OFFICERS OH EMPLOYEES OR AGENTS OF STATE
OF CALIFORNIA.
C. WITHOUT THE WRITTEN CONSENT OF THE COMMISSION, THE AGREEMENT
IS NOT ASSIGNABLE OR TRANSFERRABLE 3Y BORROWER EITHER IN WHOLE
OR IN PART.
D. TIME IS OF THE ESSENCE IN THIS AGREEMENT.
E. NO ALTERATION OR VARIATION OF THE TERMS OF THIS AGREEMENT
SHALL BE VALID UNLESS MADE IN WRITING AND SIGNED BY THE PARTIES
HERETO* ANQ NO ORAL UNDERSTANDING OR AGREEMENT NOT INCORPORATED
' HEREIN* SHALL BE BINDING ON ANY OF THE PARTIES HERETO.4
3. PURPOSE
THE BORROWER AGREES TO EXPEND ALL FUNDS ADVANCED PURSUANT TC THIS
AGREEMENT ONLY FOR THE PURPOSES AND IN THE AMOUNTS SET FORTH IN
BORROWER'S APPROVED APPLICATION, IN THE EVENT THAT THE COMMISSION
DETERMINES THAT FUNDS HAVE BEEN EXPENDED FOR PURPOSES OTHER THAN
THOSE SPECIFIED* THE FULL AMOUNT OF THE LOAN, INCLUDING PRINCIPAL
AND INTEREST, SHALL BE IMMEDIATELY DUE AND PAYABLE.
4. LOAN DISBURSEMENT SCHEDULE
A. THE COMMISSION AGREES TO DISBURSE FJNDS TO THE BORROWER UPON
THE PROPER EXECUTION OF THE ATTACHED PROMISSORY NOTE AND THE
APPROPRIATE SECURITY INSTRUMENTS, AND REQUIRED SUPPLEMENTAL
DOCUMENTS.
B. LOAN FUNDS SHALL SE DISBURSED BASED ON INVOICES SUBMITTED BY
BORROWER IN A FORM APPROVED BY COMMISSION AT SUCH TIMES AND IN
SUCH AMOUNTS AS DETERMINED APPROPRIATE BY COMMISSION IN ORDER
TO ACCOMPLISH THE PURPOSE OF THE LOAN.
5. INTEREST
THE LOAN HEREIN SHALL BEAR SIMPLE INTEREST AT THE RATE SET FORTH IN
THE ATTACHED PROMISSORY NOTE ON THE PRINCIPAL BALANCE OF LOAN FUNDS
DISBURSED TO THE BORROWER. PAYMENT OF SAID INTEREST SHALL BE DUE AT
THE TIME OF REPAYMENT OF THE LOAN TO THE COMMISSION AND SHALL ACCRUE
FROM THE TIME OF DISBURSAL. TO THE BORROWER UNTIL RECEIPT OF REPAYMENT
TO THE COMMISSION.
6. TERM
A. THE EFFECTIVE DATE OF THIS AGREEMENT SHALL BE THE DATE OF ITS
EXECUTION BY THE COMMISSION.
B. THE BORROWER AGREES TO COMPLETE PERFORMANCE OF ITS OBLIGATIONS
UNDER THIS AGREEMENT WITHIN THE PERIOD STATED IN THE BORROWER'S
APPROVED LOAN APPLICATION.
7. REPAYMENT
ALL FUNDS ADVANCED HEREUNDER, TOGETHER JITH ALL INTEREST PAYABLE
THEREON, SHALL BE REPAID TO THE COMMISSION NO LATER THAN THE DATE
SPECIFIED IN THE PROMISSORY NOTE.
8. PREPAYMENT
BORROWER SHALL HAVE THE RIGHT TO PREPAY AT ANY TIME ALL OR ANY PART
OF THE AMOUNT OF THIS LOAN WITHOUT PENALTY.
9. PROMISSORY MOTE
IN ORDER TO EVIDENCE ITS DEBT TO THE COMMISSION HEREUNDER, THE
BORROWER AGREES TO, CONTEMPORANEOUSLY WITH THE EXECUTION OF THIS
AGREEMENT, EXECUTE AND DELIVER TC THE COMMISSION A PROMISSORY
NOTF.
10. SECURITY (APPLIES ONLY TO NONGOVERNMENTAL BORROWERS)
THE COMMISSION MAY
MORE. IF REQUIRED
(1) BORROWER AGREES
TO BE IMPROVED UNDE
ATTACHED PROMISSORY
STATE OF CALIFORNIA
BORROWER SHALL ALSO
INSURANCE POLICY FG
COMMISSION'S INTERF
THATt AS PART OF IT
COMMISSION* IT -HAS
AND A CURRENT -MARKE
SUPPORTED BY AVAILA
LICENSED APPRAISER.
REQUIRE SECURITY FOR A LOAN OF $10,000 OR
BY THE COMMISSION:
TO EXECUTE A DEED OF TRUST ON THE PROPERTY
R THE TERMS OF T-US AGREEMENT TO SECURE THE
NOTE, WITH SAID DEED OF TRUST NAMING THE
, CALIFORNIA ENERGY COMMISSION AS BENEFICIARY?
OBTAIN AND DELIVER A STANDARD CLTA TITLE
R THE SECURED PROPERTY, INSURING THE
ST AS LENDER. <2> BORROWER FURTHER AGREES
S LOAN APPLICATION AND AT THE REQUEST OF THE
SUBMITTED A CUPRifiiT PRELIMINARY TITLE REPORT
T VALUE APPRAISAL OF SAID PROPERTY WITH VALUES
ELE MARKET DATA WHICH HAS BEEN PREPARED BY A
B. FOR ALL NONGOVERNMENTAL LOANS THE BORROWER AGREES THAT IN THE
EVENT THAT IT SELLS, TRANSFERS, MORTGAGES, DISPOSES OR FURTHER
ENCUMBERS THE SAID PROPERTY, OR ANY PART THEREOF, WITHOUT THE
PRIOR WRITTEN CONSENT OF THE COMMISSION* THEN THE COMMISSION
SHALL HAVE THE RIGHT, AT ITS OPTION, TO DECLARE THE ENTIRE
BALANCE OF THE UNPAID PRINCIPAL WITH UNPAID INTEREST DUE THEREON,
IMMEDIATELY DUE AND PAYABLE. CONSENT TC ONE SUCH TRANSACTION
SHALL NOT BE DEEMED TO BE A WAIVER OF THE RIGHT TO REQUIRE
CONSENT TO FUTURE OR SUCCESSIVE TRANSACTIONS.
11. ACCOUNTS
A. IF REQUESTED BY THE COMMISSION, THE BORROWER AGREES TO DEPOSIT
ALL FUNDS RECEIVED U?\iDER THIS AGREEMENT IN A SEGREGATED ACCOUNT
IN AN INSTITUTION k'HOSE DEPOSITS ARE INSURED BY THE FEDERAL OR
THE STATE GOVERNMENTS.
B. THE BORROL'ER FURTHER AGREES TO ESTABLISH ON ITS BOOKS AN ENERGY
CONSERVATION LOAN ACCOUNT WHICH SHALL BE MAINTAINED AS LONG AS
THE LOAN OBLIGATION REMAINS UNSATISFIED.
C. THE BORROWER FURTHER AGREES TO MAINTAIN RECORDS THAT ACCURATELY
AND FULLY SHOW THE DATE, AMOUNT, PURPOSE, AND PAYEE OF ALL
EXPENDITURES DRAWN ON SAID ACCOUNT.
D.' THE BORROWER FURTHER AGREES TO UTILIZE A VOUCHER SYSTEM BY
WHICH ALL EXPENDITURES FROM SAID ACCOUNT WILL BE AUTHORIZED AND
AUTHENTICATED.
E. THE BORROWER FURTHER AGREES TO ALLOW THE COMMISSION OR ANY OTHER
AGENCY OF THE STATE, CM WRITTEN REOJEST, TO HAVE REASONABLE
ACCESS TO AND THE RIGHT OF INSPECTING ALL RECORDS THAT PERTAIN
TO SAID ACCOUNT AND AGREES TO SUBMIT TO AN INDEPENDENT AUDIT,
IF THIS SHOULD BE REQUESTED BY THE COMMISSION, AT THE EXPENSE
OF THE BORROWER.
C3>
12i BUDGET
THE BORROWER AGREES TO ANNUALLY BUDGET AN AMOUNT AT LEAST SUFFICIENT
TO MAKE THE SEMI-ANNUAL PAYMENTS REQUIRED UN'DER THIS AGREE"!! ..T,
WHICH AMOUNT IS INTENDED TO BE OBTAINED BY SAVINGS IN ENERGY COSTS.
THE LACK OF SUFFICIENT SAVINGS IN ENERGY COSTS TO MAKE PAYMENTS
SHALL NOT EXCUSE BORROWER FROM ITS OBLIGATION UNDER THIS AGREEMENT.
IF BORROWER IS A COUNTY, CITY, TOWN, TOWNSHIP, BOARD OF EDUCATION OR
SCHOOL DISTRICT, BORROWER AGREES THAT THE AMOUNT OF THE SEMI-ANNUAL
LOAN REPAYMENT SHALL NOT BE RAISED BY THE LEVY OF ADDITIONAL TAXES
AND SHALL NOT DE A CHARGE AGAINST BORROWER'S GENERAL FUND, BUT SHALL
BE DERIVED FROM SAVINC-S IN ENERGY COSTS RESULTING FROM THE SUBJECT
ENERGY CONSERVATION PROJECT, OR FROM SPECIAL FUND REVENUES RESERVED
TO THE AGENCY OR DEPARTMENT OF WHICH THi SUBJECT PROJECT IS TO
BECOME A PART.
13. DEFAULT
A. IN THE EVENT THE BORROWER, FOR ANY REASON, IS UNABLE TO PROCEED
WITH THE PURPOSE OF THIS AGREEMENT, THE COMMISSION MAY DECLARE
THIS AGREEMENT TO HAVE ET.EN BREACHED AND BE RELEASED FROK ANY
FURTHER PERFORMANCE HEREUNDER.
B. IN THE EVEMT OF ANY DEFAULT OR BREACH OF THE AGREEMENT BY THE
BORROWER, THE COMMISSION, WITHOUT LIMITING ANY OF ITS OTHER
LEGAL RIGHTS OR REMEDIES, MAY DECLARE THE PROMISSORY NOTE
EVIDENCING THE LOAN TO BE DUE AND PAYABLE*
14. REPORTING
WITHIN TEN DAYS AFTER THE COMMISSION'S WRITTEN REQUEST, THE
BORROWER SHALL SUBMIT A STATUS REPORT ON! ITS ACTIVITIES TO DATE
PURSUANT TO THIS AGREEMENT IN SUCH FORMAT AS DETERMINED BY THE
COMMISSION AND AS OFTEN AS REASONABLY REQUIRED BY THE COMMISSION.
15. FAIR EMPLOYMENT PRACTICES
THE ATTACHED FAIR EMPLOYMENT PRACTICES ADDENDUM IS EXPRESSLY MADE
A PART OF THIS AGREEMENT. REFERENCE TO THE "THE CONTRACTOR" IN
THE ADDENDUM SHALL BE CONSIDERED AS REFERENCE TO "THE BORROWER"
UNDER THIS AGREEMENT.
IN 'WITNESS WHEREOF* THIS AGREEMENT HAS BEEN EXECUTED BY THE PARTIES
HERETO, UPON THE DATE FIRST ABOVE WRITTEN.
STATE OF CALIFORNIA -
ENERGY COMMISSION
IZED SIGNATURES
BORROWER (IF OTHER THAN AN
INDIVIDUAL* STATE WHETHER A
CORPOB-AJION* PARTNERSHIP* ETC.)
( AUT HGR I ZF.D SIGNATURE)
TITLE
AMOUNT ENCUMBERED | APPROPRIATIOJ | CHAPTER
ENERGY CONSERVATION | //^, C/
ASSISTAMCE ACCOUNT | 110 CCG-
STATUTES
1979 j
| FISCAL YEAR LINE ITEM ALLOTMENT j LOAN NC.
I
903-M-CO |i __'_•
I HEREBY CERTIFY UPON MY OyN PERSONAL KNOWLEDGE THAT BUDGETED FUNDS ARE
AVAILABLE FOR THE PERIOD AND PURPOSE OF THE EXPENDITURE STATED ABOVE.
SIGNATURE OF ACCOUNTING OFFICER DATE
I HEREBY CERTIFY THAT ALL CONDITIONS FOR EXEMPTIONS SET FORTH IN STATE
ADMINISTRATIVE MANUAL SECTION 12 Q<? HAVE BEEN COMPLIED WITH AND THIS
DOCUMENT IS EXEMPT FROM REVIEW BY THE DEPARTMENT OF FINANCE.
SIGNATURE OF OFFICER BEHALF OF THI AGENCY DATE
C5)
LOAN
LOAN AMOUNT
119-000
$-381»500.00
PROHISSCRY NOTE
1. FOR VALUE RECEIVED, THE UNDERSIGNED (HEREINAFTER REFERRED TO AS THE
"BORROWER") PROMISES TO PAY TC THE ORDER OF THE STATE OF CALIFORNIA,
CALIFORNIA ENERGY COMMISSION (HEREINAFTER REFERRED TO AS THE
"COMMISSION")t AT ITS PRINCIPAL PLACE OF BUSINESS IN SACRAMENTO,
CALIFORNIA* OR AT SUCH OTHER PLACE AS THE COMMISSION MAY DESIGNATE,
THE PRINCIPAL SUM OF THREE HUNDRED EIGHTY-ONE THOUSAND FIVE HUNDRED AMD
OD/1CO DOLLARS ($381,500.03> OR SUCH LESSER AMOUNT AS SHALL EQUAL THE
AGGREGATE AMOUNT DISBURSED TO THE BORROWER BY THE COMMISSION AS
EVIDENCED BY THE ATTACHED DETAIL LIST, TOGETHER WITH INTEREST CN THE
UNPAID PRINCIPAL COMPUTED FROM THE DATE EACH DISBURSEMENT TO THE
BORROWER UNTIL REPAID BY THE BORROWER AT THE INTEREST RATE OF SEVEN AND
THREE-QUARTER PERCENT (7.75) PER ANNUM* PRINCIPAL AND INTEREST TO BE
DUE AND PAYABLE IN TEN (10) SEMI-ANNUAL INSTALLMENTS OF FIFTY THOUSAND
TUO HUNDRED TWENTY-SIX AMD 92/100 DOLLARS ($50,226.92) EACH, BEGINNING
ON OR BEFORE DECEMBER 22 OF THE FISCAL YEAR FOLLOWING THE YEAR IN WHICH
THE PROJECT IS COMPLETED OR ON DECEMBER 22, 1985, WHICHEVER IS THE
FIRST TO OCCUR, AND CONTINUING THEREAFTER UNTIL SAID PRINCIPAL AND
INTEREST HAVE BEEN PAID IN FULL.
2. PAYMENT OF ANY INSTALLMENT SHALL BE FIRST APPLIED TO ACCRUED INTEREST
TO THE DATE OF DISBURSAL TO THE BORROWER AF*D THE BALANCE, IF AhY, TO
PRINCIPAL. THE BORROWER HAY PREPAY THIS NOTE IN FULL OR IN PART,
WITHOUT PENALTY, BUT ANY SUCH PREPAYMENT SHCLL BE FIRST APPLIED TO
PRINCIPAL AND THE BALANCE, IF ANY, TO ACCRUED INTEREST.
3. IF ANY INSTALLMENT IS NOT PAID UITHIN 3C DAYS AFTER ITS DUE DATE, THE
COMMISSION* fiT ITS OPTION MAY REQUIRE THE BORROWER TO PAY A LATE
CHARGE EQUAL TO 5% OF THE AMOUNT OF THE INSTALLMENT, OR IP, WHICHEVER
IS GREATER.
4. FOR NON-GOVERNMENTAL BORROWERS OF A LOAN OF 510,000 OR MORE, THE
INDEBTEDNESS EVIDENCED BY THIS NOTE IS ^ADE PURSUANT TO A LOAN
AGREEMENT BETWEEN THE BORROWER AND THE COMMISSION AND IS SECURED
BY A DEED OF TRUST.
5. ON THE OCCURRENCE OF ANY EVENT OF DEFAULT, THE COMMISSION, AT ITS
SOLE ELECTION, MAY DECLARE ALL OR ANY PORTION OF THE PRINCIPAL
AND ACCRUED INTEREST ON THIS NOTE TO BE IMMEDIATELY DUE AND PAYABLE
AND MAY PROCEED AT ONCE WITHOUT FURTHER NOTICE TO ENFORCE THIS NOTE
ACCORDING TO LAW.
EACH OF
DEFAULT
THE FOLLOWING OCCURRENCES SHALL CONSTITUTE AN EVENT OF
FAILURE OF THE BORROWER TO REPAY
DUE UNDER THE TERMS OF THIS NOTE'
ANY PRINCIPAL OR INTEREST WHEN
TERMINATION OF SAID LOAN AGREEMENT ^URSUANT TO
OR BREACH BY THE BORROWER OF ANY TERMS OF SAID
THE TERMS THEREOF
LOAN AGREEMENT;
C. FAILURE OF THE BORROWER TO UNDERTAKE: IN A TIMELY WAY THE
EXPRESS AMD IMPLIED ACTIVITIES FQP WHICH SAID LOAN AGREEMENT
HAS BEEN EXECUTED OR A SUBSTANTIAL DEDUCTION BY THE BORROWER
IN THE SCOPE OF SAID ACTIVITIES;
D. OCCURRENCE OF (1J THE BORROWER'S BECOMING INSOLVENT OR BANKRUPT
OR BEING UNABLE OR ADMITTING IN WRITING ITS INABILITY TO PAY ITS
DEBTS AS THEY MATURE OR MAKING A GEMERAL ASSIGNMENT FOR THE
BENEFIT OF OR ENTERING INTO ANY COMPOSITION OR ARRANGEMENT WITH
CREDITORS; (2> PROCEEDINGS FOR THE APPOINTMENT OF A RECEIVER*
TRUSTEE, OR LIQUIDATOR OF THE ASSETS OF THE BORROWER OR A
SUBSTANTIAL PART THEREOF* BEING AUTHORIZED OR INSTITUTED BY OR
AGAINST THE BORROWER; OR (3) PROCEEDINGS UNDER ANY BANKRUPTCY,
REORGANIZATION. READJUSTMENT OF DE3T, INSOLVENCY, DISSOLUTION,
LIQUIDATION OR OTHER SIMILAR LAW OR ANY JURISDICTION BEING
AUTHORIZED OR.INSTITUTED AGAINST THE BORROWER.
NO DELAY OR FAILURE OF COMMISSION IN TH£ EXERCISE OF ANY RIGHT OR
REMEDY HFREUNDER OR UNDER ANY OTHER AGREEMENT* WHICH SECURES OR
IS RELATED HERETO* SHALL AFFECT ANY SUCH RIGHT OR REMEDY, AND NO
SINGLE OR PARTIAL EXERCISE OF ANY SUCH ^IGHT OR REMEDY SHALL
PRECLUDE ANY FURTHER EXERCISE THEREOF* AND NO ACTION TAKEN OR
OMITTED BY COMMISSION SHALL BE DEEMED A WAIVER OF ANY SUCH RIGHT
OR REMEDY.
ANY NOTICE TO THE BORROWER PROVIDED FOR IN THIS NOTE SHALL BE GIVEN
BY MAILING SUCH NOTICE BY CERTIFIED MAIL ADDRESSED TO THE BORROWER
AT THE ADDRESS STATED IN THE LOAN AGREEMENT, OR TO SUCH OTHER
ADDRESS AS THE BORROWER HAY DESIGNATE 8Y NOTICE TO THE COMMISSION.
ANY NOTICE TO THE COMMISSION SHALL BE GIVEN BY HAILING SUCH NOTICE
BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE COMMISSION AT
THE ADDRESS STATED IN THE LOAJ* AGREEMENT* OR AT SUCH OTHER ADDRESS
AS MAY HAVE BEEN DESIGNATED BY NOTICE TO THE BORROWER.
IF SUIT IS BROUGHT TO COLLECT THIS NOTE, THE COMMISSION SHALL BE
ENTITLED TO COLLECT ALL REASONABLE COSTS AMD EXPENSES OF SAID'SUIT,
INCLUDING REASONABLE ATTORNEY'S FEES.
10. THIS NOTE SHALL BE BINDING UPON THE BORROWER AND ITS SUCCESSORS
AND ASSIGNS AND UPON THE COMMISSION AND ITS SUCCESSORS AND ASSIGNS.
11. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF CALIFORNIA.
BORROWER
T IT L E
LOAN J: 119-000
LOAN AMOUNT: $38i»500.oo
PAGE 1
PROMISSORY NOTE DETAIL
TYPE ECM FACILITY NO. 01
THE PRINCIPAL SUM OF
FOR: CONVERT 1820 STREET LIGHTS TO HISH PRESSURE SODIUM
FAIR EMPLOYMENT PRACTICES ADDENDUM
1. In the performance of this contract, the Contractor will not discriminate against any employee
or applicant for employment because of race, color, religion, ancestry, sex*, age*, national
origin, or physical handicap*. The Contractor will take affirmative action to ensure that appli-
cants are employed, and that employees are treated during employment, without regard to their
race, color, religion, ancestry, sex*, age*, national origin, or physical handicap*. Such action
shall include, but not be limited to, the following: employment, upgrading, demotion or transfer;
recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of com-
pensation; and selection for training, including apprenticeship. The Contractor shall post in
conspicuous places, available to employees and applicants for employment, notices to be pro-
vided by the State setting forth the provisions of this Fair Employment Practices section.
2. The Contractor will permit access to his records of employment, employment advertisements,
application forms, and other pertinent data and records by the State Fair Employment Practices
Commission, or any other agency of the State of California designated by the awarding authority,
for the purposes of investigation to ascertain compliance with the Fair Employment Practices
section of this contract.
3. Remedies for Willful Violation:
(a) The State may determine a willful violation of the Fair Employment Practices pro-
vision to have occurred upon receipt of a final judgment having that effect from a
court in an action to which Contractor was a party, or upon receipt of a written notice
from the Fair Employment Practices Commission that it has investigated and deter-
mined that the Contractor has violated the Fair Employment Practices Act and has
issued an order, under Labor Code Section 1426, which has become final, or obtained
an injunction under Labor Code Section 1429.
(b) For willful violation of this Fair Employment Practices provision, the State shall
have the right to terminate this contract either in whole or in part, and any loss or
damage sustained by the State in securing the goods or services hereunder shall be
borne and paid for by the Contractor and by his surety under the performance bond, if
any, and the State may deduct from any moneys due or that thereafter may become due
to the Contractor, the difference between the price named in the contract and the
actual cost thereof to the State.
*See Labor Code Sections 1411 - 1432.5 for further details.
.OIJ1-7SO IJ-74 100M D OSP STD. 3 (R6V. 11/74)
RESOLUTION NO. 65221
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA, ACCEPTING A LOAN FOR
3 THE CONVERSION OF CITY STREET LIGHTS.
4
5 WHEREAS, the State of California has authorized a loan to the City in the
6 amount of three hundred eighty one thousand five hundred dollars ($381,500)
7 for the conversion of mercury vapor street lights to high pressure sodium;
8 and
9 WHEREAS, the City of Carlsbad owns and operates 1820 street lights that
10 could be converted to high pressure sodium vapor at considerable energy
11 saving; and
12 WHEREAS, the City Council supports efforts to reduce the consumption of
13 energy provided from non-renewable natural resources;
14 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
15 Carlsbad as follows:
16 1. That the above recitations are true and correct.
17 2. The Mayor be authorized to execute an agreement and a promissory
18 note on behalf of the City with the State of California in the amount of
19 $381,500 for the conversion of city-owned street lights.
20 PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City
21 Council held on the 19th day of May 1981, by the following
22 vote, to wit:
23 XX
24 XX
•
25 XX
26 XX
27 XX
28 XX
1
2
3
4
5
6
7
8
9
AYES: Council Members Packard, Casler, Anear & Kulchin
NOTES:. None
ABSENT: Council Member Lewis
RONALD C. PACKARD, Mayor
ATTEST:
Qj^jUL: .--JTVi:—;iSni t-rrMl/n AMYL. RAUTENKRAN2,
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
(SEAL)
28