Agenda Report
Fullerton City Council
MEETING DATE: NOVEMBER 4, 2025
TO: CITY COUNCIL / SUCCESSOR AGENCY
SUBMITTED BY: STEPHEN BISE, P.E., PUBLIC WORKS DIRECTOR PREPARED BY: jerome joaquin, public works admin manager kAREN CHUNG, ADMINISTRATIVE ANALYST ii
SUBJECT: UNCLAIMED PUBLIC WORKS WATER ENGINEERING BONDS AND DEPOSITS
SUMMARY
Government Code Sections 50050 through 50056 allow the City to transfer bonds and deposits exceeding $15.00 unclaimed after three years from the issuance date to the Water Fund or the fund(s) where the City deposited them with City Council approval after published notice procedures.
PROPOSED MOTION
Authorize City Manager to approve and accept as City property unclaimed water engineering bonds and deposits issued between 1996 and 2016 and unclaimed forty-five days following Notice of Publication.
Authorize City Manager, or designee, to transfer unclaimed water engineering bond and deposit funds totaling $349,775.98 to the Water Fund (Fund 44) or other funds as appropriate.
ALTERNATIVE OPTIONS
Approve the Proposed Motion
Reject the Proposed Motion
Other options brought by City Council.
STAFF RECOMMENDATION
Staff recommends the Proposed Motion.
CITY MANAGER REMARKS
None.
PRIORITY POLICY STATEMENT
This item matches the following Priority Policy Statement:
Fiscal and Organizational Stability.
FISCAL IMPACT
The City may transfer unclaimed bonds and deposits exceeding $15.00 after three years from issuance date and unclaimed 45 days after public notice to the fund(s) where the City deposited them. Staff identified unclaimed water engineering bonds and deposits $15.00 or greater from 1997 to 2016 and noticed the unclaimed funds on September 4, 2025. These monies remained unclaimed. The City will transfer $349,775.98 to the Water Fund (Fund 44) or other City funds available for City use.
BACKGROUND AND DISCUSSION
The Public Works Engineering Division identified unclaimed water engineering bonds and deposits $15.00 or greater from 1997 to 2016 (Attachment 1). Unclaimed bonds and deposits may become City property once the City meets required conditions. The City must publish the amount of money for unclaimed bonds and deposits three years after the issuance date, which City fund holds the amount and notice that the money will become the property of the City on a designated date. The City must publish the notice once a week for two consecutive weeks in a newspaper of general circulation published in the City, no less than 45 days and no more than 60 days following the first publication.
The City publishes the required Notice of Publication pursuant to Government Code Sections 50050 through 50056, in the Fullerton News Tribune starting July 31, 2025 through September 4, 2025. Refer to Attachment 2 for the Notices of Publication and the following table summarizing the publishing dates. The City received no claims within the specified period. Attachment 1 provides a list of the unclaimed bonds and deposits of fifteen dollars or greater that remained unclaimed after three years from the date of issuance and forty-five days after the first Notice of Publication, totaling $349,775.98.
Unclaimed Bonds & Deposits (1997- 2016)
Names
Post Date
Due Date to claim funds (45 days from first publication date) A-E
07/31/2025
09/15/2025
A-E
08/07/2025
09/15/2025
F-O
08/14/2025
09/29/2025
F-O
08/21/2025
09/29/2025
P-Z
08/28/2025
10/13/2025
P-Z
09/04/2025
10/13/2025
Attachments:
Attachment 1 – Unclaimed Bonds and Deposits (1997 through 2016) Attachment 2 – Notice of Publication
Attachment 3 – Government Code Sections 50050 through 50056 cc: Interim City Manager Eddie Manfro
Unclaimed Public Works Water Engineering Bonds and Deposits November 4, 2025 - Page 2