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HomeMy WebLinkAbout1987-05-26; City Council; Resolution 90862 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 9086 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPOINTING JONES HALL HILL & WHITE TO ACT AS BOND COUNSEL ON THE HOSP GROVE BOND ISSUES. WHEREAS, the City of Carlsbad intends to issue both short and long term debt in the process of acquiring Hosp Grove, and WHEREAS, the City requires the services of bond counsel for the issue of Bond Anticipation Notes or other debt associated with the purchase of Hosp Grove, and WHEREAS, the City intends to issue any Bond Anticipation Notes and Certificates of Participation as a negotiated sale with the selected underwriter, and intends to issue any General Obligation Bonds approved by the voters for this acquisition at public sale conducted by the City and its financial advisor, and WHEREAS, the City has selected Jones Hall Hill & White to act as bond counsel for the above transactions, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad as follows: 1. That Jones Hall Hill & White shall act as bond counsel, as necessary, in the above transactions. 2. That the fees and compensation for said services shall be as described in the attached proposals which are incorporated herein by reference. 3. That the City Council reserves the right to remove Jones Hall Hill & White from this project subject only to compensation for expenses through the date of removal. //I //I 1 2 3 4 It 1' 21 2: 2, 2 2 2 2 2 2 4. That the City Manager agreement necessary to confirm above terms. is authorized to execute any his appointment subject ,o the PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council of the City of Carlsbad held the 26th day of May , 1987, by the following vote to wit: AYES: Council Members Lewis, Kulchin, Pettine, Mamaux and Lars011 ATTEST: ( SEAL ) Proposal for Bond Counsel Services presented to the CITY OF CARLSBAD relating tu its proposed HOW GROVE ACQUISITION Dated: May 14, 1987 .. CHARLES F. ADAMS STEPHEN R. CASALEQQIO EDSELL M. EADY, JR. ANDREW C. HALL, JR. KENNETH I. JONES PKILTP NELSON LEE WILLIAM H. MADISON BRIAN D. QUIhT PAUL J. TWIMMIO SHARON STANTON WHITE JONES HALL HILL &j WHITE, A PROFESSIONAL LAW CORPORA!l'ION A"0RN-S AT LAW FOUR EMBARCADERO CENTER SUITE 1050 SAN FRANCISCO 04111 (45) 391-5780 . AUTOMATIC TELECOPIER (415) 381-5784 ' (415) 850-0308 May 14, 1987 Mr. James F. Elliott Finance Director City of Carlsbad 1200 Elm Avenue Carlsbad, CA 92008 Re: Prooosal for Bond Counsel Services Dear Mr. Elliott: In response to your request for bond counsel services for your Hosp Grove Acquisition Program, Jones Hall Hill & White ("Jones Hall") is pleased to be given the opportunity to offer its services as bond counsel to the City of Carlsbad (the "City"). A. THE PROJECT The proposed acquisition of Hosp Grove would appear to be most expeditiously accomplished, within the limitations of the law and your Project Description, by a three stage process, in which the City should: (1) either (a) advance from its General Fund (or other available moneys) the purchase price of $6,457,000, on June 1, 1987, accomplishing the acquisition of the Hosp Grove; or (b) extend the purchase date to July 1, 1987 or later; (2) issue notes on July 1. 1987 (or as soon thereafter as is practicable) under Sections 53850 et seq. of the Government Code to acquire Hosp Grove (if the purchase date has been extended), or reimburse the General Fund (or other fund from which moneys were advanced); and (3)(a) either issue general obligation bonds or certificates of participation on a long-term basis to create a source of funds to repay the Notes at maturity; or (b) if the general obligation bond election fails and if the Mr. James F. Elliott City of Carlsbad May 14, 1987 Page 2 City decides not to pursue a Certificate of Participation financing, segregate amounts necessary to repay the Notes at maturity. B. FIRM EXPERIENCE AND QUALIFICATIONS OF SPECIFIC PERSONNEL A. JONES HALL HILL AND WHITE 1. Brief DescriDtion and History Our firm was formed as a partnership on March 21, 1978, with the named parties (Kenneth I. Jones, Andrew C. Hall, Jr., Robert J. Hill and Sharon Stanton White) as the founding partners. The firm expanded to its present size of 10 attorneys (all of whom are principals) and 21 staff members from 1978 to the present. In November, 1980 the firm modified its organizational structure from a partnership to a professional law corporation. The firm's business is entirely devoted to municipal finance, with special emphasis on bond counsel services and an expanding practice in the provision of underwriter's counsel and special tax counsel services. Because the sole practice of the firm is related to municipal finance, the entire staff is dedicated to the single goal of service to local government without distraction to other areas. This has resulted in a highly trained and skilled staff directly responsible to its municipal clients. The firm has represented every type of public agency in California on a wide variety of financings, but the vast majority of its work as bond counsel has been the representation of local agencies such as the City. Virtually all of our clients are located in California, and over 50% of those are located in Southern California. 2. Summary of Experience Our firm ranked thirteenth in bond counsel rankings in the nation in overall dollar volume of municipal issues in the calendar year 1986. Set forth in Appendix A is a summary of bond issue financings for which Jones Hall acted as Bond Counsel in 1986. Examples of innovative methods of financing in which Jones Hall has been a. Certificates of Participation. The firm has been the acknowledged leader in the development of Certificate of Participation ("COP") financing in the State, having acted as special counsel in approximately 207 financings aggregating over $2,500,000,000 in principal amount since the technique was identified in 1979. involved include the following: Mr. James F. Elliott City of Carlsbad May 14, 1987 Page 3 b. Mortaaae Revenue Bonds. Principals in the firm represented the Redevelopment Agency of the City of San Pablo in the case of Redevelopment Aaency of the City of San Pablo v. Shepard, 75 Cal.App.3rd 453, establishing the validity of Senate Bill 99, which led to the great burgeoning of mortgage revenue bond financing from 1979 through 1985. Our firm provided the approving opinion on the first single family housing bonds in the State. c. Tax-Exempt Compliance Procedures. Because of her authorship of The Handbook of Section 103 Rulinas and her continual communication with Washington, D.C., legislative and administrative officials, as noted below, Sharon White provides creative solutions on behalf of clients for compliance with Tax Code provisions relating to tax-exemption of both new money and refunding obligations. These solutions frequently result in innovative financings for projects not otherwise capable of being financed. . C. RESPONSIBLE INDIVIDUALS 1. Resumes The professionals from Jones Hall who will be assigned to the City are William H. Madison and Charles F. Adams. In addition, Sharon Stanton White would be responsible for all tax analysis on financings the City undertakes. The resumes of Mr. Madison, Mr. Adams, and Mrs. White are set forth below: William H. Madison Mr. Madison has more than 7 years of municipal bond experience, having joined Jones Hall Hill & White in 1979. He has been particularly active in certificate of participation transactions, and has experience in virtually all other areas of municipal bond law relating to public improvements. Mr. Madison attended St. Michael’s College in Vermont, where he received his A.B. degree in 1971, and Fordham University, where he received his J.D. degree in 1979. Mr. Madison was admitted to the New York and California Bars in 1980 and is a member of the American Bar Association and National Association of Bond Lawyers. Charles F. Adams Mr. Adams has approximately 10 years of municipal bond experience and joined Jones Hall Hill & White in 1979. He has practiced municipal bond law continuously since 1976 with experience in all areas of municipal financing as bond counsel and underwriter’s counsel. Mr. James F. Elliott May 14, 1987 Page 4 .- City of Carlsbad Mr. Adams attended Yale University where he received his B.A. Degree in 1973 and the University of Michigan where he received his J.D. degree in 1976. Mr. Adams was admitted to the California Bar in 1976 and is a member of the National Association of Bond Lawyers. Sharon Stanton White Mrs. White was a founding partner of Jones Hall, and has practiced municipal bond law for approximately 14 years. She is a recognized national expert in the area of federal tax law as it applies to municipal bonds and acts as special tax counsel on all forms of municipal financing. Mrs. 'White attended the University of California at Berkeley where she received her B.A. degree in 1962 and her LL.B. degree in 1965. She was admitted to the California Bar in 1966 and the District of Columbia Bar in 1968. Mrs. White has served continuously as a director or officer of the National Association of Bond Lawyers since 1981. She assumed the presidency of the Association in October, 1986. Mrs. White is the author of The Handbook of Section 103 Rulinas which she supplements semi-annually. Mrs. White is also a member of the American Bar Association and the Bar Association of San Francisco. D. FEE STRUCTURE AND METHOD OF PAYMENT Jones Hall prefers to be compensated for its services as bond counsel on each financing on a contingent fee, based upon a declining percentage of the principal amount of the financing, plus reimbursement for certain out-of-pocket expenses. The normal percentage scale for a short-term financing is as follows: One twentieth of one percent of the amount of the financing (with a minimum fee of $5,000). The normal percentage scale for a long-term financing is as follows: One percent of the first million dollars of financing (with a minimum fee of $10,000); plus one-half of one percent of the next four million dollars; plus one-quarter percent of any financing in excess of five million dollars. Typical expenses for which we are normally compensated are special delivery and messenger services, as well as travel outside of the State of California. Mr. James F. Elliott City of Carlsbad May 14, 1987 Page 5 E. REFERENCES The following individuals may be contacted as references. Mr. Kenneth W. Landau City Manager, City of Gardena (21 3) 51 4-2254 Mr. Bob Leland Finance Director, City of Fairfield (707) 428-7496 Ms. Kris Machnick Director of Finance, City of Santa Clara (408) 984-3261 We look forward to the opportunity to discuss our proposal with you. Very truly yours, WHM:mim:M5537 cc: Charles F. Adams William H. Madison a APPENDIX A 1986 SUWRY OF BOND ISSUES JONES HALL HILL 6 WHITE, AS BOND COUNSEL Page A. Revenue Bonds Lease Revenue and other.........................e..~oo......m..o 2 B. Assessment/Mello Roos Bonds..................................... 3 C. Tax A1 location Bonds and Notes. ................................. 4 D. Lease Financing and Certificate of Participation Transactions...................................... 7 E. Tax and Revenue Anticipation Notes/Grant Anticipation Notes.............................................. 10 F. General Obligation Bonds........................................ 13 - G. Multifamily Housing Revenue Bonds.. ............................. 13 H. Single Family Housing Revenue Bonds. ............................ 14 1. Industrial Development Bonds...................................* 14 J. Miscellaneous................................................... 14 Issuer Underwri ter/Purchaser Amount A. REVENUE BONDS (1) Lease Revenue and other Revenue Bonds Sierra Valley Hospital Financing Farmers Home Administration S 1,966,000 Authority, 1986 Series A (2/14) S 22,550,000 City of Santa Clara Electric Revenue Refunding Bonds, 1986 Series A (6/10) The First Boston Corporation City of San Luis Obispo Capital Improvement Board Lease Revenue Bonds (Capital Improvements Projects) (7/15) Rauscher Pierce Refsnes, Inc. $ 13,970,000 Rauscher Pierce Refsnes, Inc. $ 16,140,000 Redwood City Public Facilities and Infrastructure Authority Lease Revenue Bonds (Capital Improvement Projects) (8/6) Fairfield-Suisun Sewer District Sewer Revenue and Refunding Bonds Stone & Youngberg (8/13) b 23,424,762.25 $ 27,710,000 Community Development Commission of the City of Oceanside (Oceanside Civic Center Project) (8/14) Merrill Lynch Capital Markets City of Santa Clara Electric Revenue Crossover Refunding Bonds, 1986 Series B (8/14) Morgan Stanley & Co. Incorporated b 53,240,000 City of Santa Clara Electric Revenue Morgan Stanley & Co. Incorporated b 700,000 Crossover Refunding Bonds, 1986 Series C (8/14) Pic0 Rivera Water Development Bateman Eichler, Hill Richards, b 6,000,000 Corporation Leasehold Mortgage Bonds Incorporated and Associates (8/26) City of Galt Public Financing Authority 1986 Revenue Bonds (8/29) A.R. Altura & Company, Inc. and Matthews & Wright, Inc. $ 29,290,000 City of San Buenaventura Sewer Revenue Refunding Bonds (11/17) Franklin Tax Rate Fund and Casualty Insurance Company of I1 1 i noi s $ 13,155,000 Bankers Trust Company $ 23,900,000 Redevelopment Agency of the City and County of San Francisco Variable Rate Demand Refunding Bonds (South Beach Harbor Project) (12/17) Appendix A Page A-1 Issuer 0 Underwriter/Purchaser Amount B. ASSESSMENTflEtLO ROOS BONDS City of Walnut Creek LID No. 41, MuniciCorp of California $ 668,735 North Broadway Extension A.D. (2/24) City of Lincoln, Nicolaus Rd. A.D. (3/27) Wulff, Hansen & Co. $ 5,885,510.47 City of Fairfield, Suisun Valley Rd. -Kaiser A.D. (4/2) Stone & Youngberg City of Alameda Harbor Bay Business Park A.D. 84-4, Series B (4/16) Stone & Youngberg $ 4,900,000 $ 5,225,000 City of South San Francisco, The Gateway Assessment District No. 82-2 Reassessment of Series 86-A Dean Witter Reynolds Inc. $ 15,200,000 Refunding (4/30) - City of Fairfield Alaska Ave.- Heath Dr. Assessment District Refunding (5/2) Stone '& Youngberg City of Fairfield Cordelia Village No. 1 Assessment District Refunding (5/2) Stone & Youngberg City of Fairfield Gateway Landscape Assessment District Refunding (5/2) Stone & Youngberg City of Fairfield Chadbourne Rd.- Beck Ave. Assessment District Refunding (5/2) Stone & Youngberg City of Vallejo Glen Cove Community A.D. No. 61 (Reassessment and Refunding of 1986) Series 86-A (5/15) Wulff Hansen & Co. City of Vallejo Glen Cove Community A.D. No. 61 (Reassessment and Refunding of 1986) Series 86-B (5/15) Wulff Hansen & Co. City of Alameda Marina Village A.D. 84-3, Series 86-2 (7/15) Stone & Youngberg City of Alameda Refunding Improvement Stone & Youngberg Bonds, Marina Village A.D. 84-3 (Reassessment and Refunding of 1986) Series 86-1 (7/22) b 1,040,000 $ 2,415,000 $ 2,929,000 6 12,730,000 $ 15,140,000 b 1,890,000 b 6,300,000 b 26,325,000 City of Upland A.D. 81-1 Improvement Smith Barney, Harris Upham $ 896,145.80 Refunding Bonds (7/24) 81 Co. Incorporated Appendix A Page A-2 Issuer Underwr i ter/Purchaser Amount City of Healdsburg Foss Creek A.D. Seidler-Fitzgerald Public b 1,350,000 (8/1) Finance City of Vallejo Northeast Quadrant A.D. No. 58 (Reassessment and Refunding for 1986) (8/5) Lake County Sanitation District A.D. No. 1-7, Series 86-1 (8/7) Wulff, Hansen & Co. Wulff, Hansen & Co. b 4,430,000 S 442,200 City of Chico Sierra Sunrise A.D. E. F. Hutton & Company, Inc. b 3,665,000 (8/13) East Yo10 Community Services District Stone & Youngberg Refunding (8/20) Vallejo City Unified School District Wulff, Hansen & Co. Community Facilities District No. 1 (Glen Cove School) (Me1 lo-Roos) (8/20) 6 3,390,000 $ 6,000,000 - Russian River County Water District Farmers Home Administration S 1,930,000 A.D. No. 1 (8/21) City of Stockton Central Parking District Bonds of 1986, Project Bateman Eichler, Hill Richards Incorporated b 16,000,000 NO. 86-1 (8/29) City of Pomona Improvement Bonds Chilton & O'Connor, Inc. $ 5,650,000 A.D. U294 (Rio Rancho Road - Old Pomona Road), Series 1986 (9/30) City of Walnut Creek Local Improvement MuniciCorp of California District No. 42 (10/7) b 68,524 City of Emeryville Improvement Bonds West Emeryvi 1 le A.D. City of Fairfield Improvement Bonds Smith Ranch A.D., Series 836 (Phase One) .( 12/23) Stone & Youngberg Stone & Youngberg (11/12) S 2,983,200 b 7,771,000 C. TAX ALLOCATION BONDS AND NOTES Chico Redevelopment Agency Southeast Merrill Lynch Capltal Markets $ 8,400,000 Chi co Redevelopment Project (5/7) Redevelopment Agency of the City $ 38,655,000 of Chula Vista Bayfront/Town Centre & Co. Incorporated Project (5/29) Smith Barney, Harris Upham Appendi x A Page A-3 Issuer Underwriter/Purchaser Amount Redevelopment Agency of the City of PaineWebber Incorporated b 3,250,000 Pomona Hol t Ave/Indi an Hi 1 1 Redevelopment Project (6/24) Redevelopment Agency of the City of PaineWebber Incorporated S 4,250,000 Redevelopment Project (6/24) Community Development Commission Smith Barney, Harris Upham L 8,200,000 of the City of Oceanside Downtown & Co. Incorporated Redevelopment Project (6/26) Mountain View Shoreline Regional Stone & Youngberg $ 26,300,000 Park Community Tax Allocation and Refunding Bonds (7/22) Redevelopment Agency of the City of Kelling, Northcross & Nobriga J 1,390,000 Seaside Gateway Project (Refunding) (7/23) Burnham Lambert Incorporated Upland Community Redevelopment Agency Smith Barney, Harris Upham $ 6,500,000 (Canyon Ridge) (7/24) & Co. Incorporated Pomona Reservoir Street Industrial - Incorporated and Drexel Upland Community Redevelopment Agency Smith Barney, Harris Upham ( Arrow-Benson Redev . Project) (7/24) & Co. Incorporated Redevelopment Agency of the City of Stone 81 Youngberg, Goldman, San Jose (Merged Area Redevelopment Sachs & Co., Grigsby, Brandford & Co., Inc. Redevelopment Agency of the City of San Jose (Merged Area Redevelopment Sachs & Co., Grigsby, Project) Refunding, 1986 Series B (8/5) Brandford & Co., Inc. Mountain View Revitalization Authority Smith Barney, Harrts Upham Downtown Revitalization District & Co. Incorporated (8/12) Redevelopment Agency of the City of La Habra Beta 111 Project Area Redevelopment Project (8/15) Redevelopment Agency of the City of La Habra Downtown Project Area Redevelopment Project 1986 Second Lien (8/15) 4 Project) Refunding, 1986 Series A (8/5) Stone & Youngberg, Goldman, M. L. Stern & Co., Inc. Landmark Bank Redevelopment Agency of the City of West Covina Central Business Distrlct Redevelopment Project, 1986 Series A E.F. Hutton & Company, Inc. Appendix A Page A-4 L 3,000,000 $201,295,000 S 55,040,000 S 9,875,000 $ 530,000 $ 405,000 $ 15,775,000 Issuer Underwriter/Purchaser Redevelopment Agency of the City of West Covina Eastland Redevelopment Project, 1986 Series B (8/15) Sparks Redevelopment Agency (Nevada) Sparks Town Center Project #l (8/19) Inglewood Redevelopment Agency North Inglewood Industrial Park Redevelopment Project, Series B (8/27) E.F. Mutton & Company, InC. Prudential-Bache Securities, Inc. Burrows-Smith Division Shearson Lehman Brothers I ngl ewood Redevelopment Agency Manchester-Prairie Redevelopment Project, Series B (8/27) Inglewood Redevelopment Agency In-Town Redevelopment Project, Series B (8/27) Inglewood Redevelopment Agency Century Redevelopment Project, Series B (8/27) Redevelopment Agency of the City of Azusa Central Business District & Co., Inc. Redevelopment Project, 1986 Series A Refunding (8/27) Shearson Lehman Brothers E.F. Hutton & Company, Inc. Shearson Lehman Brothers Smith Barney, Harris Upham Redevelopment Agency of the City of Azusa West End Redevelopment Project, 1986 Series A Refunding (8/27) FISER Financial and Investment Services Rancho Cucamonga Redevelopment Agency Shearson Lehman Brothers Rancho Redevelopment Project , 1986 Series A (8/28) Li vermore Redevelopment Agency Livermore Redevelopment Project, Series A (8/28) Smlth Barney, Harris Upham & Co. Incorporated Redevelopment Agency of the City of Duarte Las Lomas Redevelopment Project Refunding (8/28) Redevelopment Agency of the City of Hawai fan Gardens Redevelopment Project No. 1 Refunding (10/2) Chilton & O'Connor, Inc. Chilton & O'Connor, Inc. Amount $ 3,975,000 $ 5,000,000 6 1,300,000 $ 1,790,000 $ 880,000 - $ 11,600,000 b 6,130,000 $ 3,800,000 $ 32,345,000 $ 4,120,000 $ 2,730,000 b 8,657,000 Appendix A Page A-5 Issuer Underwriter/Purchaser Industry Urban-Devel opment Agency Redevelopment Project No. 2 Second Co. Incorporated Subordinate Tax Allocation Refunding Bonds, Issue of 1986 (11/18) Smith Barney, Harris Upham & Amount f 10,965,000 Industry Urban-Development Agency Smith Barney, Harris Upham & $ 10,395,000 Redevelopment Project No. 3 Co. Incorporated Subordinate Tax Allocation Bonds, Issue of 1986 (11/18) Anaheim Redevelopment Agency Tax Goldman, Sachs & Co., Merrill Refunding Bonds Redevelopment Project Lynch, Pierce, Fenner & Smith Alpha (Subordinate Lien) Series 1986 A Incorporated, PaineWebber (11/25) Incorporated f 49,380,000 D. LEASE FINANCINGS AND CERTIFICATES OF PARTICIPATION City of Union City Equipment Acquisition Project (2/11) Corporation Imperial Securities City of Livermore (Airport Project) (2/27) Kelling, Northcross & Nobriga Incorporated and Sutro & Co. Incorporated City of San Buenaventura (Capital Improvements Project) Refunding (4/17) County of San Bernardino (Sheriff's Facilities Project) (4/30) Crocker Nat i onal Bank The first Boston Corporation City of Fairfield (Water Utility Improvement Project) Refunding (5/22) San Francisco State Building Authority L.F. Rothschild, Unterberg, (State Building Project) Refunding Towbin, Inc. and A.R. (5/29) Altura & Company, Inc. Benicia Unified School District A.R. Altura & Company, Inc. (Education Facilities) (5/29) City of Mountain View (Slurry Wall) William Graham City of San Diego (Police Capital PaineWebber Incorporated and Improvements Project) Refunding (6/18) Metro Equities City of Hercules (Capital Improvement Rauscher Pierce Refsnes, Inc. Projects) Refunding (6/19) Stone & Youngberg (6/4 1 f 2,640,000 $ 8,450,000 $ 22,920,000 6 18,010,000 f 62,964,448.55 $ 61,140,000 f 4,885,000 $ 1,530,000 $ 63,330,000 $ 10,905,000 Appendix A Page A-6 Issuer Underwri ter/Purchaser Amount City of Anaheim (Refinancing Project A) Partial Refunding (6/19) Goldman, Sachs & Co. $ 31,200,000 City of San Ramon (Community Center A. R. Altura 81 Company Inc. b 6,750,000 Project) (6/25) Counties of Placer and Shasta Prudential-Bache Securities Inc. $ 5,950,000 (CSAC Finance Corporation Pooled Financing A) (6/26) Counties of Amador, El Dorado, Prudential-Bache Securites Inc. b 16,975,000 Stani sl aus and Tuolumne (CSAC Finance Corporation Pooled Financing 8) (6/26) City of Escondido (Escondido City Hal 1 Project) (7/22) Stone & Youngberg b 30,000,000 County of San Bernardino (County Center/Justice Center Refunding and Capital Improvements Projects) (8/7) Miller & Schroeder Financial , Inc. $120,865,800 City of San Buenaventura (Capital Improvements Projects) (8/7) E.F. Hutton & Company, Inc. b 20,900,000 City of Cupertino (Capital Rauscher Pierce Refsnes, Inc. b 9,800,000 Improvements Project) (8/7) Bankers Trust Company and $ 43,090,000 County of Solano (Solano County Justice Facility and Public Building Improvements) Refunding (817) Grigsby, Brandford & Co., Inc. City of Huntington Beach (Civic Center Project) Refunding (8/13) Stone & Youngberg s 20,000,000 City of Val le jo (Water Improvement Merri 11 Lynch Capital Markets $ 6,200,000 Projects) (8/13) City of San Jose (Convention Center Project) (8/14) Goldman, Sachs & Co., Stone L Youngberg and Grigsby, Brandford & Co., Inc. $174,175,000 City of fresno (City Hall Seidler-Fittgerald Public Finance b 43,000,000 . Construction and Golf Course Development Projects) (8/19) City of Fresno (Conference Center/ Arena Facilities Refunding Project) Seidler-Fittgerald Pub1 ic finance $ 30,730,000 (8/20 1 Appendix A Page A-7 Issuer Underwriter/Purchaser Amount City of Santa Clara (Convention Center Project) Refunding (8/21) E.F. Hutton & Company, Inc. $ 15,675,000 City of Gardena (Civic Center Security Pacific Merchant $ 3,370,000 Improvement Projects) (8/21) Banking Group City of Upland Water System Improvement Project Finance Seidl er-Fi tzgerald Pub1 ic S 10,535,000 (8/W City of Upland Police Building Seidler-Fitzgerald Public $ 5,845,000 ConstructSon Project Finance (8/21) City of San Buenaventura (Equipment Prudenti al-Bache Securites, Inc. - $ 4,480,000 financing Projects) (8/26) Charter Oak Unified School District Security Pacific Merchant $ 3,110,OOb (Equipment Acqui sit i on Project) Banking 'Group Clovis Unified School District and Seidler-Fitzgerald Public Finance, $ 11,165,900 fresno Unified School District (Equipment and Capital Improvement Projects) (8/27) Capital Markets Kelling, Northcross & Nobriga Incorporated and Merrill Lynch City of Danville (Land Acquisition Project) (8/27) Wells Fargo Bank, N.A. $ 8,280,000 City of Concord, County of Napa, Kell ing , Northcross & Nobriga $ 2,700,000 American Canyon County Water District, Menlo Park Fire Protection District Kennedy & Gardner, Inc. (ABAG XIII) (8/28) Incorporated and Morgan, Olmstead, Local Government Finance Joint Powers Authority (Californla Local Agency - Composite Issue of 1986) Goldman, Sachs & Co. W28) $451,400,000 Brea-Olinda Unified School District Bear, Stearns & Co., Inc. (Brea High School Project) (8/29) $ 22,580,000 County of Solano, Fairfield Unified Security Pacific Merchant $ 9,575,000 School District, Vacaville Unified School District, Vallejo City Unified School District (8/29) Banking Group Stone & Youngberg and $ 1,840,000 Cities of Anderson, Atwater and Farmersville (CCFC 1986 Series A) Herri 11 Lynch Capital Markets (8/29) Appendix A Page A-8 Issuer Underwr i ter/Purchaser Amount City of Downey (Civic Center Project) Goldman, Sachs & Co. Refund i ng (9/3O) El Dorado Irrigation District (Water Bateman Eichler, Hill & Sewer System Improvement Project) Richards, Inc. (W27) $ 17,045,000 $ 8,155,000 City of Commerce (Municipal Park Bear Stearns & Co., Inc. $ 3,400,000 Improvement Project) (11/5) City of Vallejo (Marine World Foundation Project) (11/24) Wulff, Hansen 81 Co. $ 13,000,000 City of Santa Maria (Town Center & Westside Parking Facilities) Refunding . Hutton & Company, Inc. County of San Bernardino (He7 i copter Benham Cat iforni a Tax-Free $ 3,935,006 Acquisition) (12/12) Trust, Intermediate Term Goldman, Sachs & Co. and E. F. $ 34,855,000 ( w9 1 Portf 01 io City of Fairfield (Public Improve- ments Projects) Refunding (12/18) Stone & Youngberg $ 15,730,000 Cities of Fort Bragg, Manteca, Rialto Stone & Youngberg $ 4,460,000 and the Susanville Consolidated and Merrill Lynch Capital Sanitary District (CCFC 1986 Series Markets Daly City Redevelopment Agency Dean Witter Reynolds Inc. $ 7,500,000 (J.S. Properties) (12/24) City of Pleasant Hill Refunding Kelling, Northcross & Nobriga $ 3,720,000 (ABAG XV) (12/30) Incorporated and Morgan, Olmstead, City of Los Altos (ABAG XVI) (12/30) Kelling, Northcross & Nobriga $ 1,250,000 B) (WW Kennedy & Gardner, Inc. Incorporated and Morgan, Olmstead, Kennedy & Gardner, Inc. City of Modesto (Capital Improvements first California Regional Project) (12/31) Securities, Inc. $ 4,300,000 E. TAX AND REVENUE ANTICIPATION NOTES/GRANT ANTICIPATION NOTES Emeryvi 1 le Redevelopment Agency Revenue Anticipation Notes (1985-1986 Revenues) (3/18) City of Fairfield (7/1) Stone & Youngberg Stone & Youngberg $ 830,000 $ 3,900,000 Appendix A Page A-9 Issuer Underwri ter/Purchaser Amount City of Anaheim (7/1) County of Sacramento (Elk Grove Unified School District) (7/1) City of Riverside (7/2) City of Albany (7/3) City of Fremont (7/3) City of Hayward (7/3) City of Livermore (7/3) City of Union City (7/3) City of La Mesa (7/8) City of Huntington Beach (7/8) City of Woodland (7/9) City of Gardena (7/10) City of Ontario (7/10) City of Richmond (7/11) City of La Habra (7/15) Security Pacific National Bank f 23,600,000 Security Pacific Merchant f 5,700,000 Banking Group Merri 11 Lynch Capital Markets $ 8,550,000 Kelling, Northcross & Nobriga f 1,100,000 Incorporated and The Bank of California, N.A. Kelling, Northcross & Nobriga s 9,100,000 Incorporated and The Bank of California, N.A. Kelling, Northcross & Nobriga f 7,200,000 Incorporated and The Bank of - California, N.A. Kelling, Northcross & Nobriga f 3,000,000 incorporated and The Bank of California, N.A. Kelling, Northcross & Nobriga b 3,000,000 Incorporated and The Bank of California, N.A. Security Pacific Merchant f 3,200,000 Banking Group Stone & Youngberg b 12,200,000 Security Pacific Merchant b 1,500,000 Bank i ng Group Security Pacific Capital S 5,000,000 Markets Group (Security Pacific Natjonal Bank) Security Pacific Capital S 6,000,000 Markets Group (Security Pacific National Bank) Dean Witter Reynolds Inc. f 10,000,000 and Grfgsby, Brandford & Co., Inc. Security Pacific Capi tal $ 2,600,000 Markets Group (Security Pacific National Bank) Appendix A Page A-10 Amount Underwri ter/Purchaser Issuer Bank of America National Trust and Savings Association $ 7,000,000 S 2,500,000 $ 4,100,000 County of Yo10 Short Term Mandatory Tender Tax and Revenue Anticipation Notes (7/15) Kelling, Northcross & Nobriga Incorporated and The Bank of California, N.A. Contra Costa County (Pittsburg Unified School District) (7/16) Kell ing, Northcross & Nobriga Incorporated and The Bank of California, N.A. Contra Costa County (Antioch Unified School District) (7/16) County of Alameda in the name of: Amador Valley Joint Union High School District (7/22) $ 1,600,000 S 3,25LOOO Kelling, Northcross & Nobriga Incorporated and The Bank of California, N.A. Kelling, Northcross & Nobriga Incorporated and The Bank of California, N.A. Livermore Valley Joint Unified School District (7/22) S 1,700,000 Kelling, Northcross & Nobriga Incorporated and The Bank of California, N.A. Pleasanton Joint School Di strict (7/22) $ 3,200,000 $ 2,800,000 $ 3,600,000 Kelling, Northcross & Nobriga Incorporated and The Bank of California, N.A. Newark Unified School District (7/22) Kelling, Northcross & Nobriga Incorporated and The Bank of California, N.A. San Leandro Unified School District (7/22) Kelling, Northcross & Nobriga Incorporated and The Bank of California, N.A. San Lorento Unified School District (7/22) Security Pacific Capltal Markets Group (Security Pacific National Bank) $ 24,000,000 Ehrlich Bober & Co., Inc. County of Stanislaus (7/28) Santa Clara County Transit Dfstrict Grant Anticipation Refunding Notes (Guadalupe Corridor Light Rail Project) (8/4) 1986 Series B 1986 Series C 1986 Series D 1986 Series E $ 9,075,000 $ 2,170,000 s 10,110,000 $ 8,835,000 S 5,500,000 City of Alameda (8/7) A.R. Altura & Company, Inc. Appendix A Page A-11 .. Issuer Underwri ter/Purchaser Amount City of Benicia (8/7) A.R. Altura & Company, Inc. b 1,620,000 Fresno Unified School District Merrill Lynch Capital Markets b 20,500,000 Redevelopment Agency of the City Miller & Schroeder Financial, Inc. b 4,330,000 of Pomona Southwest Pomona and Mount a i n Meadows Red eve 1 opmen t Projects Refunding (8/25) (8/22) City of Hawthorne (8/26) Bank of America National Trust b 3,500,000 and Savings Association Redevelopment Agency of the City and and County of San Francisco Bond Anticipation Refunding Note (10/16) Bankers Trust Company b 18,630,000 City of Pasadena (11/25) Security Pacific Merchant b 6,500,ODO Banking Group Santee School District (12/16) Rauscher Pierce Refsnes, Inc. b 3,000,000 Grossmont Union High School District Rauscher Pierce Refsnes, Inc. b 4,240,000 (12/18) F. GENERAL OBLIGATION BONDS Sol ano County (Fai rf i eld-Sui sun Security Pacific National Bank b 556,000 School District) (6/27) A1 ameda County (Fremont Unified First Interstate Bank of b 670,000 School District) (7/1) of California City of Anaheim Series 1986 A (10/30) Trust and Savings Association Bank of America National b 10,000,000 and Associates 6. HULTIFAMILY HOUSING REVENUE BONDS City of Huntington Beach Bancroft, Garcia & Lave1 1, Inc. b 7,700,000 (Mercury S&L/Vil lage Partnership Project) (11/7) of Santa Barbara (11/21) and Bankers Trust Company Housing Authority of the City Santa Barbara Bank & Trust s 1,100,000 Appendix A Page A-12 Issuer Housing Authority of the City of Santa Ana (Vintage Apts.) (12/18) Anaheim Housing Authority (Sage Park Project) (12/18) Housing Authority of the County of Riverside (Tyler Village Project) ( 12/ 19 Thousand Oaks Redevelopment Agency (Los Feliz Apartments Project) (12/23) County of San Benardino (Pooled Projects) (12/30) Underwr i ter/Purchaser Amount Bancroft, Garcia & Lavell, Inc. $ 8,400,000 Security Pacific Merchant Banking $ 5,500,000 Prudential-Bache Securities Inc. $ 10,100,000 Fiser Financial & Investment s 9,000,000 Services and Birr Wilson & Co., Inc. E.F. Hutton & Company, Inc. H. SINGLE FAMILY HOUSING REVENUE BOWS Rancho Cucamonga-Palmdale-Porterville- Stone & Youngberg Colton Housing Finance Agency (GNMA Mortgage-Backed Securities) (12/22) Thousand Oaks Redeve 7 opment Agency Refunding (12/31) Shearson Lehman Brothers Inc. I. INDUSTRIAL DEVELOPMENT BONDS City of Pomona (JNS Land Company Project) (12/19) Group BankAmerica Capital Markets City of Long Beach (Kress Rehabili- tation Project) (12/23) Bear, Stearns & Co. Inc. 3. WISCELLANEOUS Fairf ield Redevelopment Agency Cordel ia Area Redevelopment Project Notes (9/23) City of Torrance Hospital Revenue Bonds (Little Company of Mary Hospital) 1985 Series A (Fixed Rate Conversion) Security Pacific National Bank Ziegler Securities (W1) S 60,000,000 - S 17,505,000 $ 9,270,000 $ 3,000,000 $ 9,700,000 S 15,110,000 $ 32,800,000 Appendix A Page A-13 ., Issuer e Underwri ter/Purchaser La Mirada Redevelopment Agency 15515 Phoebe Avenue Project Loan The Mitsubishi Bank of California W30) Redevelopment Agency of the City and County of San Francisco (Fillmore Center Project) Remarketing (12/30) Dean Witter Reynolds Inc. Amount $ 1,050,000 $ 95,000,000