EXHIBIT A
DESCRIPTION OF THE PROJECT
The Project includes installing 850 feet of 21-inch, 2,210 feet of 18-inch, 45 feet of 12-inch, 180 feet of 10- inch, and 1,525 feet of 8-inch gravity sewer main, of which approximately 2,030 feet is planned to be installed via pipe bursting. The current design has identified rehabilitating approximately 320 feet of 21-inch, 1,855 feet of 18-inch, 2,085 feet of 15-inch, and 470 feet of 8-inch gravity sewer main via CIPP lining. 120 laterals, totaling 1,500 feet of 6-inch and 3,685 feet of 4-inch gravity sewer laterals, will be replaced. Additionally, 14 manholes will be installed, 10 manholes will be replaced, 18 manholes will be removed, and 40 manholes will be abandoned. Finally, the project will abandon approximately 310 feet of 15-inch, 600 feet of 12-inch, 2,830 feet of 10-inch, 285 feet of 8-inch, and 4,840 feet of 6-inch gravity clay sewer mains. Since the subject sewers will be located in roads or travelled ways, most of the trench backfill will be imported. The projected scope of work includes site piping and grading, demolition, construction, instrumentation, as well as all necessary work and appurtenances thereto, as well as any necessary permits, rights of way and other real or personal property useful in connection therewith, together with all additions, extensions, expansions, improvements and betterments thereto and equippings thereof.
DRAFT 131
Exhibit B
EXHIBIT B
SCHEDULE OF INSTALLMENT PAYMENTS*
*The following schedule is subject to modification by the actual advances made by the Original Purchaser, as evidenced in the form of single Certificate. Such evidence of advances shall, in all cases, be controlling.
Installment
Payment Date Principal Interest
Installment
Payments
DRAFT 132
Exhibit B
Totals
DRAFT 133
ASSIGNMENT AGREEMENT
Dated as of December 1, 2022
by and between the
GREAT NORTHERN SERVICES,
as Assignor
and the
FINANCE DIRECTOR OF THE CITY OF YREKA,
as Trust Administrator
Relating to
$5,700,000
CITY OF YREKA
SERIES 2022 WASTEWATER REVENUE CERTIFICATES OF PARTICIPATION (WASTEWATER SYSTEM IMPROVEMENT PROJECT)
BANK QUALIFIED
DRAFT 134
ASSIGNMENT AGREEMENT
THIS ASSIGNMENT AGREEMENT, made and entered into as of December 1, 2022, by and between the GREAT NORTHERN SERVICES, a California not-for-profit corporation organized and existing under the laws of the State of California, as assignor (the “Corporation”), and the FINANCE DIRECTOR OF THE CITY OF YREKA, as trust administrator (the “Trust Administrator”) under the hereinafter-defined Trust Agreement;
W I T N E S S E T H:
WHEREAS, the Corporation and the City of Yreka (the “City”), have entered into an installment sale agreement, by and between the Corporation and the City, dated as of December 1, 2022 (together with any amendments or supplements thereto, the “Installment Sale Agreement”), whereby the Corporation has agreed to sell to the City, and the City has agreed to purchase from the Corporation, certain improvements to the City’s Wastewater System, as more particularly described in the Installment Sale Agreement (as amended or modified from time to time, the “Project”), in the manner and on the terms set forth in the Installment Sale Agreement; and
WHEREAS, under the Installment Sale Agreement, the Corporation is required to deposit or cause to be deposited with the Trust Administrator certain moneys to be credited, held and applied in accordance with a trust agreement by and among the Trust Administrator, the Corporation and the City, dated as of December 1, 2022, together with any amendments or supplements thereto (the “Trust Agreement”); and WHEREAS, upon delivery of the Installment Sale Agreement and the deposit of moneys by the Corporation with respect thereto, the City is obligated to pay certain installment payments (the “Installment Payments”) to the Corporation or its assignee. For the purpose of obtaining the moneys required to be deposited with the Trust Administrator, the Corporation is willing to assign and transfer its right, title and interest under the Installment Sale Agreement to the Trust Administrator for the benefit of the owners of the Series 2022 Wastewater Revenue Certificates of Participation (the “Certificates”) to be executed and delivered under the Trust Agreement, and in consideration of such assignment, the Trust Administrator is executing and delivering the Certificates to the Government as the purchaser thereof, the proceeds of which sale are anticipated by the Corporation to be sufficient to provide the moneys required to be deposited by the Corporation pursuant to the Installment Sale Agreement; and WHEREAS, each of the parties hereto has authority to enter into this Assignment Agreement and has taken all actions necessary to authorize its officers to enter into it; and WHEREAS, the capitalized terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Trust Agreement;
NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES AND OF THE MUTUAL
AGREEMENTS AND COVENANTS CONTAINED HEREIN AND FOR OTHER VALUABLE CONSIDERATION, THE PARTIES HERETO DO HEREBY AGREE AS FOLLOWS:
DRAFT 135
ASSIGNMENT AGREEMENT
-2-
Section 1. Assignment. The Corporation, for good and valuable consideration, does hereby irrevocably assign and transfer to the Trust Administrator, for the benefit of the Owners of the Certificates, all of its rights and interest in the Installment Sale Agreement (excepting only its rights under Sections 5.08,
6.03 and 7.04 thereof), including, without limitation, its rights to receive and collect Installment Payments from the City under the Installment Sale Agreement, its rights to the pledge of Net Revenues, the right to receive and collect any proceeds of any insurance maintained thereunder, or of any condemnation award rendered with respect to the Project and the right to exercise such rights and remedies as are conferred on the Corporation by the Installment Sale Agreement as may be necessary to enforce payment of the Installment Payments when due or otherwise to protect its interests in the event of a default by the City. The Installment Payments shall be applied, and the rights so assigned shall be exercised, by the Trust Administrator as provided in the Trust Agreement for the benefit of the Owners of the Certificates.
Section 2. Acceptance. The Trust Administrator hereby accepts such assignment in trust for the purpose of securing, equally and proportionately, such payments and rights to the Owners of the Certificates delivered pursuant to the Trust Agreement, all subject to the provisions of the Trust Agreement.
Section 3. Sale of Certificates. The Corporation does hereby authorize, direct and consent to the execution and delivery of the Certificates by the Trust Administrator, the receipt by the Trust Administrator of payment for the Certificates when the same shall be sold to the original purchaser or purchasers thereof, and the transfer and deposit by the Trust Administrator of such proceeds into the funds and accounts created by the Trust Agreement, all in accordance with the terms of the Trust Agreement.
Section 4. Conditions. This Assignment Agreement shall confer no rights and impose no duties upon the Trust Administrator beyond those expressly provided in the Trust Agreement.
Section 5. Execution in Counterparts. This Assignment Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute but one and the same instrument.
[Signature Page to Follow on Next Page]
DRAFT 136
ASSIGNMENT AGREEMENT
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IN WITNESS WHEREOF, the parties hereto have executed this Assignment Agreement by their officers thereunto duly authorized as of the date in the first paragraph above.
GREAT NORTHERN SERVICES,
as Assignor
By:
Authorized Signatory
FINANCE DIRECTOR OF THE
CITY OF YREKA,
as Trust Administrator
By:
Emily Aldrich, Finance Director
DRAFT 137
UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL DEVELOPMENT
RURAL UTILITY SERVICE
OFFER
Subject to the Bond Specifications attached hereto as Exhibit A, the General Conditions attached hereto as Exhibit B, the Special Conditions attached hereto as Exhibit C, and the adoption of Form RD 1780- 27, “Loan Resolution,” the United States of America, hereinafter referred to as “the Government”, hereby offers to make a loan in the sum of not to exceed $5,700,000 to the California Municipal Public Financing Authority (hereinafter called “Authority”), for the benefit of the City of Yreka (the “City”), in Siskiyou County, in the state of California in order to aid in the acquisition and construction of the District’s new Main Street Sewer Interceptor Improvement Project.
The loan herein provided for shall be made by purchase at par value of the Bonds in the sum of not to exceed $5,700,000 and bearing interest at the rate of 1.75% per annum. In the event any other bidder offers to purchase any of the issue at a net interest rate of not more than 1.75% per annum, that portion of the issue will not be purchased by the Government, and it will purchase the balance of said issue. In such event, it is understood that the obligations of the City set forth in the Installment Sale Agreement and Trust Agreement would apply as fully and to the same extent as if the entire issue were sold to the Government. In the event that no bid is received from any bidders within the terms herein specified, the entire issue will be purchased by the Government, subject to the conditions aforesaid.
Upon acceptance, this offer, together with all of the Exhibits attached hereto and Form RD 1780-27, “Loan Resolution,” shall become the Agreement.
This offer must be accepted within 60 days from the date hereof.
Dated this __th day of _______, 2022.
UNITED STATES OF AMERICA
by: ______________________
Acting Community Programs Director
USDA Rural Development
for the Rural Utility Service
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EXHIBIT A
FORM OF CERTIFICATE
No. R-1 ***$5,700,000***
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CITY OF YREKA
SERIES 2022 WASTEWATER REVENUE CERTIFICATE OF PARTICIPATION (MAIN STREET SEWER INTERCEPTOR IMPROVEMENT PROJECT)
BANK QUALIFIED
INTEREST PAYMENT DATES RATE OF INTEREST DATED DATE
January 1 and July 1
as described below 1.750% December 15, 2022
REGISTERED OWNER: UNITED STATES OF AMERICA, ACTING THROUGH THE RURAL
UTILITIES SERVICE
PRINCIPAL AMOUNT: ______ MILLION _______ HUNDRED _____ THOUSAND DOLLARS THIS IS TO CERTIFY THAT the Registered Owner identified above, or registered assigns, as the registered owner (the “Registered Owner”) of this Series 2022 Wastewater Revenue Certificate of Participation (the “Certificate”) is the owner of a direct, undivided fractional interest in installment payments (the “Installment Payments”) payable under that certain Installment Sale Agreement, dated as of December 1, 2022 (the “Installment Sale Agreement”), by and between the GREAT NORTHERN SERVICES, a California not-for-profit corporation organized and existing under the laws of the State of California (the “Corporation”), and the CITY OF YREKA (the “City”), a municipal corporation and general law city duly organized and existing under and by virtue of the constitution and laws of the State of California. The Installment Payments and certain other rights and interests under the Installment Sale Agreement have been assigned to the Finance Director of the City, as trust administrator (the “Trust Administrator”), having an office in the location described in the Trust Agreement referred to below.
The Registered Owner of this Certificate is entitled to receive, subject to the terms of the Installment Sale Agreement, on the Maturity Dates identified below, or any earlier prepayment date, the Principal Amounts identified below representing a direct, undivided fractional share of the portion of the Installment Payments designated as principal as follows:
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A-2
Maturity
Date
Principal
Due
Maturity
Date
Principal
Due
07/01/2023 07/01/2043
07/01/2024 07/01/2044
07/01/2025 07/01/2045
07/01/2026 07/01/2046
07/01/2027 07/01/2047
07/01/2028 07/01/2048
07/01/2029 07/01/2049
07/01/2030 07/01/2050
07/01/2031 07/01/2051
07/01/2032 07/01/2052
07/01/2033 07/01/2053
07/01/2034 07/01/2054
07/01/2035 07/01/2055
07/01/2036 07/01/2056
07/01/2037 07/01/2057
07/01/2038 07/01/2058
07/01/2039 07/01/2059
07/01/2040 07/01/2060
07/01/2041 07/01/2061
07/01/2042 07/01/2062
and to receive on July 1, 2023, and semiannually thereafter on January 1 and July 1 of each year (each an “Interest Payment Date”) until payment in full of said principal the Registered Owner’s direct, undivided fractional share of the Installment Payments designated as interest coming due during the interest period immediately preceding each of the Interest Payment Dates. Interest represented hereby shall be payable at the above stated Rate of Interest from the Dated Date identified above.
Principal represented hereby is payable in lawful money of the United States of America upon surrender hereof at the Office of the Trust Administrator, and interest represented hereby is payable by check or draft mailed by first class mail by the Trust Administrator on each Interest Payment Date to the Registered Owner at such Owner’s address as it appears on the Certificates register of the Trust Administrator as of the preceding Record Date; provided, however, that so long as the United States of America remains the Registered Owner of the Certificates, payment of principal shall be made on each Principal Payment Date and payment of interest shall be made on each Payment Date to the Registered Owner, unless otherwise requested by the Registered Owner, by the Pre-Authorized Debit (PAD) payment process (i.e., the City’s payments shall be electronically debited from the Installment Payment Fund on each Interest Payment Date in accordance with the PAD process established by Form SF-5510 and Form RD 3550-28, both entitled “Authorization Agreement for Pre-Authorized Payments”).
This Certificate has been executed and delivered by the Trust Administrator pursuant to the terms of a Trust Agreement by and among the Trust Administrator, the Corporation and the City, dated as of December 1, 2022 (the “Trust Agreement”). The City has certified that it is authorized to enter into the Installment Sale Agreement and this Trust Agreement under the laws of the State of California, for the purpose of paying the costs of certain public capital improvements.
140
A-3
Reference is hereby made to the Installment Sale Agreement, Trust Agreement and the Assignment Agreement (copies of which are on file at the Office of the Trust Administrator) for a description of the terms on which the Certificates are delivered, the rights thereunder of the owners of the Certificates, the rights, duties and immunities of the Trust Administrator and the rights and obligations of the City under the Installment Sale Agreement, to all of the provisions of the Assignment Agreement, Installment Sale Agreement and the Trust Agreement the Registered Owner of this Certificate, by acceptance hereof, assents and agrees.
This single, fully registered Certificate is issued by the Corporation and represents the $__________ Series 2022 Wastewater Revenue Certificate of Participation (Main Street Sewer Interceptor Improvement Project), Bank Qualified, all of like, date, tenor and effect, but differing in amounts and maturities, authorized to be executed and delivered pursuant to the Trust Agreement.
This Certificate is transferable only to a Qualified Institutional Buyer (as such term is defined by Rule 144A of the Securities Act of 1933) or other persons with the consent of the City and the Corporation, by the Registered Owner thereof in person or by his attorney duly authorized in writing, at the Trust Office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Trust Agreement, and upon surrender of this Certificate for cancellation accompanied by delivery of a duly executed written instrument of transfer in the form appearing hereon. Upon such transfer, a new Certificate or Certificates of the same Maturity Date representing the same principal amount will be issued to the transferee in exchange hereof.
Notwithstanding anything herein or elsewhere to the contrary, there shall be not any transfers or exchanges while Government is owner, unless requested by the Government.
The City is obligated under the Installment Sale Agreement to pay the Installment Payments from Net Revenues (as such term is defined in the Installment Sale Agreement) on parity with all Parity Debt (as such term is defined in the Trust Agreement) issued or incurred within the meaning of the Installment Sale Agreement.
The obligation of the City to pay the Installment Payments does not constitute an obligation of the City for which the City is obligated to levy or pledge any form of taxation or for which the City has levied or pledged any form of taxation. The obligation of the City to pay Installment Payments does not constitute a debt of the City, the State of California or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction.
The Certificate is subject to optional prepayment in whole, or in part among maturities in any manner as directed by the City in inverse order of maturity, unless otherwise requested by City and agreed to by Original Purchaser in its reasonable discretion, on any Business Day, from prepayments of the Installment Payments made at the option of the City pursuant to the Installment Sale Agreement, at a prepayment price equal to the aggregate principal components of the Installment Payments to be prepaid, together with accrued interest represented thereby to the date fixed for prepayment, without premium.
The Certificate is subject to mandatory prepayment on any date, in whole, or in part, from unexpended proceeds of the Construction Fund established under this Trust Agreement and from the net 141
A-4
proceeds of insurance or eminent domain proceedings, in either case deposited with the Trust Administrator, which are credited towards the prepayment of the Installment Payments pursuant to the Installment Sale Agreement, at a prepayment price equal to one hundred percent (100%) of the principal amount to be prepaid, together with accrued interest represented thereby to the date fixed for prepayment, without premium.
As provided in this Trust Agreement, notice of prepayment shall be mailed by the Trust Administrator by first class mail, postage prepaid, not less than thirty (30) nor more than sixty (60) days before the prepayment date, to the Registered Owner of the Certificate, but neither failure to receive such notice nor any defect in the notice so mailed shall affect the sufficiency of the proceedings for prepayment or the cessation of accrual of interest represented thereby. If this Certificate is called for prepayment and payment is duly provided hereof as specified in this Trust Agreement, interest represented hereby shall cease to accrue from and after the date fixed for prepayment.
The City has designated its obligations under the Installment Sale Agreement represented by this Certificate to be a “qualified tax-exempt obligation” under Section 265(b)(3) of the Internal Revenue Code of 1986.
This Certificate is transferable by the Registered Owner hereof, in person or by his or her attorney duly authorized in writing, at the Trust Office of the Trust Administrator, but only in the manner, subject to the limitations and upon payment of the charges, if any, provided in this Trust Agreement and upon surrender and cancellation of this Certificate.
Upon such transfer a new Certificate or Certificates, of authorized denomination or denominations, representing the same aggregate principal amount and representing the same rate of interest and maturity date, will be delivered to the transferee in exchange hereof. The City, the Corporation and the Trust Administrator may treat the Registered Owner hereof as the absolute owner hereof for all purposes, whether or not this Certificate shall be overdue, and the City, the Corporation and the Trust Administrator shall not be affected by any notice to the contrary.
To the extent and in the manner permitted by the terms of the Trust Agreement, the provisions of the Trust Agreement may be amended by the parties thereto with the written consent of the owners of a majority in aggregate principal amount of the Certificates then outstanding, and may be amended without such consent under certain circumstances; provided that no such amendment shall extend the fixed maturity of any Certificate or reduce the interest or principal represented thereby, without the express consent of the owner of such Certificate.
The Trust Administrator has no obligation or liability to the registered owners of the Certificates to make payments of principal, or interest with respect to the Certificates except from amounts on deposit for such purposes with the Trust Administrator. The Trust Administrator’s sole obligations are to administer for the benefit of the registered owners of the Certificates the various funds and accounts established under the Trust Agreement and to perform the other duties expressly imposed upon it under the Trust Agreement.
The City has certified, recited and declared that all things, conditions and acts required by the laws of the State of California, the Installment Sale Agreement and this Trust Agreement to exist, to have happened and to have been performed precedent to and in the delivery of the Certificates, do exist, have happened and have been performed in due time, form and manner as required by law. 142
A-5
This Certificate is given as evidence of a loan to the City made by the United States of America, acting through the Rural Utilities Service, pursuant to the Consolidated Farm and Rural Development Act, and shall be subject to the present regulations of the Rural Utilities Service or any successor agency thereto and to its future regulations not inconsistent with the express provisions hereof.
IN WITNESS WHEREOF, this is one of the Certificates described in the within-mentioned Trust Agreement and registered on the Registration Books, and is hereby executed and authenticated by the manual signature of the Trust Administrator, all as of the Dated Date set forth above.
FINANCE DIRECTOR OF THE CITY OF YREKA,
as Trust Administrator
By: ____________________________
Emily Aldrich, Finance Director
143
A-6
ABBREVIATIONS
The following abbreviations, when used in the inscription on the face hereof, shall be construed as though they were written out in full according to applicable laws or regulations:
TEN COM -- as tenants in common UNIF GIFT MIN ACT ____ Custodian
TEN ENT -- as tenants by the (Cust) _____ (Minor) _____ Entireties under Uniform Gifts to Minors
JT TEN -- as joint tenants with Act ______________________________ _____ right of survivorship (State)
_____ and not as tenants in
_____ common
ADDITIONAL ABBREVIATIONS MAY ALSO BE USED
THOUGH NOT IN THE LIST ABOVE
ASSIGNMENT
For value received the undersigned do(es) hereby sell, assign and transfer unto (Name, Address and Tax Identification or Social Security Number of Assignee) the within registered Certificate and hereby irrevocably constitute(s) and appoint(s) attorney, to transfer the same on the Certificate Register of the Trust Administrator with full power of substitution in the premises.
Dated:
Signature Guaranteed:
Note: Signature(s) must be guaranteed by an eligible guarantor. Note: The signature(s) on this Assignment must correspond with the name (s) as written on the face of the within
Certificate in every particular, without alteration or
enlargement or any change whatsoever.
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Record of Prepayment in Advance of Maturity
of Certificates Represented by this Certificate
The Record of prepayment in advance of maturity on the registered Certificate shall be substantially as follows:
Amount Date
__________________ ___________________
__________________ ___________________
__________________ ___________________
__________________ ___________________
145
B-1
EXHIBIT B
California Municipal Public Financing Authority
Series 2022 Wastewater Revenue Certificate of Participation
GENERAL CONDITIONS
(To Come)
146
C-1
EXHIBIT C
California Municipal Public Financing Authority
Series 2022 Wastewater Revenue Certificate of Participation
SPECIAL CONDITIONS
(To Come)
147
IRREVOCABLE PAYMENT INSTRUCTIONS
- 1 -
$5,700,000
CITY OF YREKA
SERIES 2022 WASTEWATER REVENUE CERTIFICATES OF PARTICIPATION (WASTEWATER SYSTEM IMPROVEMENT PROJECT)
BANK QUALIFIED
IRREVOCABLE PAYMENT INSTRUCTIONS
These IRREVOCABLE PAYMENT INSTRUCTIONS (the “Instructions”) are dated as of December 1, 2022, and are given to BANNER BANK (the “Bank”), by the CITY OF YREKA, a municipal corporation and general law city duly organized and existing under and by virtue of the constitution and laws of the State of California (the “City”); W I T N E S S E T H:
WHEREAS, on September 2, 2021 the City previously sold its $6,098,000 aggregate principal amount of Series 2021 Wastewater Revenue Bond Anticipation Notes (the “BANs”) to the Bank, the proceeds which were used to construct the City’s new Main Street Sewer Interceptor Improvement Project; and WHEREAS, to finance the payoff of the BANs, the City Council of the City (the “City Council”) on November 1, 2022 adopted Resolution No. 2022-43 (the “Resolution”), pursuant to which the City authorized and directed the execution and delivery of its “City of Yreka, Series 2022 Wastewater Revenue Certificates of Participation (Wastewater System Improvement Project), Bank Qualified” (the “2022 Certificates”), issued pursuant to the Resolution and a Trust Agreement, dated as of December 1, 2022 (the “Trust Agreement”); and WHEREAS, the 2022 Certificates, in the amount of $5,700,000 (the “2022 Certificate Proceeds”), are being purchased by the United States of America, Acting through the Rural Utilities Service (the “USDA”), in immediately available funds on December 15, 2022 (the “Closing Date”); and WHEREAS, capitalized terms not otherwise defined herein will have the meanings ascribed to them in the Trust Agreement; and
WHEREAS, on the Closing Date the 2022 Certificate Proceeds will be transferred by USDA to the City via ACH transfer; and
WHEREAS, the 2022 Certificate Proceeds will be then transferred immediately (at first reasonable opportunity) by the City directly to the Bank in the manner and for the purposes set forth herein; and WHEREAS, the City has full legal right, power, and authority to enter into and perform its duties under these Instructions; and
WHEREAS, the Bank acknowledges that these Instructions constitute irrevocable instructions by the City to apply the Designated Proceeds as set forth herein.
NOW, THEREFORE, in consideration of the above the City and Bank agree as follows:
Section 1. Transfer and Application of 2022 Certificate Proceeds.
DRAFT 148
IRREVOCABLE PAYMENT INSTRUCTIONS
- 2 -
The City is hereby irrevocably instructed to transfer the 2022 Certificate Proceeds in the amount of $5,700,000 directly to the Bank on December 15, 2022, or as soon thereafter as possible.
Upon receipt of the 2022 Certificate Proceeds, the Bank shall send an email to [email protected] and [email protected], as well as to [email protected] and [email protected], notifying that the 2022 Certificate Proceeds have been received by the Bank in accordance with the these Instructions.
The City acknowledges that it has no right, title or interest in or to the 2022 Certificate Proceeds, except as set forth herein. Under no circumstances shall the 2022 Certificate Proceeds be paid or delivered to or for the order of the City, except as set forth herein. The City hereby waives any rights that it may have to give alternative instructions as to the 2022 Certificate Proceeds.
Section 2. Termination; Unclaimed Money.
These Instructions shall terminate when the 2022 Certificate Proceeds have been transferred and received by the Bank, as provided herein.
Section 3. Liabilities and Obligations of Bank.
The Bank shall have no obligation to make any payment or disbursement of any type, or from such other funds that the City may hereafter deposit, in strict accordance with these Instructions. The Bank shall have no obligation to incur any financial liability in the performance of its duties under these Instructions, and the Bank may rely and shall be fully protected in acting upon the written instructions of the City or its agents relating to any matter or action as Bank under these Instructions.
The Bank shall not be liable for any act or omission of the City under these Instructions. The Bank shall have no liability or obligation to the City, USDA or any other person or entity with respect to the payment of debt service by the City or with respect to observance or performance by the City of any conditions, covenants and terms contained in or relating to the 2022 Certificates. The Bank may conclusively rely, as to the truth of the statements and correctness of the opinions expressed therein, on any certificate or opinion furnished to it in accordance with these Instructions.
Section 4. Governing Law. These Instructions shall be governed by and construed in accordance with the laws of the State of California.
Section 5. Notices. Notices hereunder shall be made in writing and shall be deemed to have been duly given when personally delivered or when deposited in the mail, first class postage prepaid, or delivered to an express carrier, charges prepaid, addressed to each party at its address below:
If to the City: City of Yreka
701 Fourth Street
Yreka, CA 96097
Attention: Emily Aldrich
If to the Bank: Banner Bank
1 Parkcenter Drive, Suite 200
Sacramento, CA 95825
Attention: Bob Pedersen
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IRREVOCABLE PAYMENT INSTRUCTIONS
- 3 -
Section 6. Counterparts. These Instructions may be executed in any number of counterparts, each of which when executed and delivered shall be deemed to be an original, and all of which when taken together shall constitute one and the same Instructions.
IN WITNESS WHEREOF, the City and Bank have each executed these Irrevocable Payment Instructions as of the date first above written.
CITY OF YREKA
By:____________________________
Emily Aldrich, Finance Director
BANNER BANK
By:_____________________________
Authorized Representative
DRAFT 150
CITY OF YREKA
PRELIMINARY FINANCIAL MODEL
ANNUAL DEBT SERVICE SCHEDULE
12/15/2022 Principal Coupon Interest
Total Debt
Service
7/1/2023 $142,000 1.750% $54,308 $196,308
7/1/2024 $101,000 1.750% $97,265 $198,265
7/1/2025 $102,000 1.750% $95,498 $197,498
7/1/2026 $104,000 1.750% $93,713 $197,713
7/1/2027 $106,000 1.750% $91,893 $197,893
7/1/2028 $108,000 1.750% $90,038 $198,038
7/1/2029 $110,000 1.750% $88,148 $198,148
7/1/2030 $112,000 1.750% $86,223 $198,223
7/1/2031 $114,000 1.750% $84,263 $198,263
7/1/2032 $116,000 1.750% $82,268 $198,268
7/1/2033 $118,000 1.750% $80,238 $198,238
7/1/2034 $120,000 1.750% $78,173 $198,173
7/1/2035 $122,000 1.750% $76,073 $198,073
7/1/2036 $124,000 1.750% $73,938 $197,938
7/1/2037 $126,000 1.750% $71,768 $197,768
7/1/2038 $128,000 1.750% $69,563 $197,563
7/1/2039 $130,000 1.750% $67,323 $197,323
7/1/2040 $133,000 1.750% $65,048 $198,048
7/1/2041 $135,000 1.750% $62,720 $197,720
7/1/2042 $137,000 1.750% $60,358 $197,358
7/1/2043 $140,000 1.750% $57,960 $197,960
7/1/2044 $142,000 1.750% $55,510 $197,510
7/1/2045 $145,000 1.750% $53,025 $198,025
7/1/2046 $147,000 1.750% $50,488 $197,488
7/1/2047 $150,000 1.750% $47,915 $197,915
7/1/2048 $152,000 1.750% $45,290 $197,290
7/1/2049 $155,000 1.750% $42,630 $197,630
7/1/2050 $158,000 1.750% $39,918 $197,918
7/1/2051 $161,000 1.750% $37,153 $198,153
7/1/2052 $163,000 1.750% $34,335 $197,335
7/1/2053 $166,000 1.750% $31,483 $197,483
7/1/2054 $169,000 1.750% $28,578 $197,578
7/1/2055 $172,000 1.750% $25,620 $197,620
7/1/2056 $175,000 1.750% $22,610 $197,610
7/1/2057 $178,000 1.750% $19,548 $197,548
7/1/2058 $181,000 1.750% $16,433 $197,433
7/1/2059 $185,000 1.750% $13,265 $198,265
7/1/2060 $188,000 1.750% $10,028 $198,028
7/1/2061 $191,000 1.750% $6,738 $197,738
7/1/2062 $194,000 1.750% $3,395 $197,395
Total $5,700,000 $2,210,728 $7,910,728
151
CITY OF YREKA
CITY COUNCIL AGENDA MEMORANDUM
To: Yreka City Council
Prepared by: Jerry Lemos, Fire Chief
Agenda Title: Request for purchase of a new Type 6 Fire Apparatus Meeting Date: November 1, 2022
The Yreka Fire Department is requesting authorization to purchase a new Type 6 QTAC Super 6 Wildland Fire Engine. This purchase is not replacing another apparatus to be taken out of service. The reason for this new purchase is multi-faceted. Currently, Engine 410 is technically a Type 6 Wildland Apparatus but is also our apparatus used for responses to vehicle accidents as it carries rescue tools such as the “Jaws of Life”.
Therefore, it is possible Engine 410 could be out on a wildland fire, out of position and not available to respond to the traffic accident with the rescue tools. Furthermore, the Type 6 apparatus does not require the driver or operator to have anything more than a Class C driver’s license, thus improving response times by not having to wait for a licensed driver. Additionally, the new Type VI has much better ground clearance and maneuverability on Wildland fireground. Fires occur in difficult terrain such as in the Yreka Creek Greenway, Greenhorn Park, and Humbug drainages etc., and we feel this apparatus will help us substantially in this regard. Lastly, the addition of this apparatus will free up our current medical response vehicle (R440) to be utilized as a command vehicle eliminating the need for the Assistant Chief and other officers to respond to emergencies driving their personal vehicles, without emergency lighting and safety equipment.
Fiscal Impact:
Funding for the apparatus will be achieved via fire response dollars accumulated over the last several years and is already available for use along with additional monies from Measure H. Therefore, it is anticipated that no general fund dollars will be needed for this purchase.
Business Analysis:
The Finance Committee met on Thursday, October 27, 2022, and evaluated the business needs and benefits of having this type of apparatus available for initial “quick strike attack, QTAC”. The committee unanimously recommended bringing this to the City Council for consideration. The committee recommends appropriating $275,000 from Fire 152
2 Equipment reserves (mutual aid strike team equipment reserves) and Measure H funds for the purchase.
Recommendation: Approve Resolution 2022-45 Approving and Authorizing Acquisition of Equipment and Execution of all necessary documents for the Acquiring of Equipment for the Yreka Volunteer Fire Department.
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RESOLUTION NO. 2022-45
RESOLUTION OF THE YREKA CITY COUNCIL APPROVING AND AUTHORIZING
ACQUISITION OF EQUIPMENT AND EXECUTION OF ALL NECESSARY DOCUMENTS FOR
ACQUIRING OF EQUIPMENT FOR THE YREKA VOLUNTEER FIRE DEPARTMENT WHEREAS, the City, is a municipal corporation, which has the authority to purchase and finance equipment and vehicles; and,
WHEREAS, the City maintains a fire department established pursuant to Yreka Municipal Code, Title 2.28; and, WHEREAS, in response, the City submitted Measure H to the voters of the City of Yreka for the purpose of establishing a special tax for acquisition of necessary equipment, among other things, which was adopted by the voters in November 2006; and,
WHEREAS, on November 1, 2022, Yreka Fire Department (YVFD) made a recommendation to the City Council that the City acquire one Type 6 QTAC Super 6 Wildland Fire Engine, “Fire Apparatus”, from QTAC Fire and Rescue Apparatus of Chico, California. The apparatus is not replacing any existing other Fire Equipment, but augmenting existing equipment, and, WHEREAS, the fire apparatus identified above is privately sourced as QTAC is the sole source for MTECH Poly Tough ™ body made of virgin copolymer plastic; and, WHEREAS, it is in the public interest that the City procure the equipment described herein as sole source provider from QTAC Fire and Rescue Apparatus of Chico, California for the purchase and outfitting of the fire apparatus described in this Resolution in the amount not to exceed $275,000 for the use of Yreka Volunteer Fire Department solely and exclusively for fire suppression and fire protection services in the City of Yreka and by mutual aid; and,
WHEREAS, the City of Yreka has determined that it is for the common benefit and in the best interest of the City for the acquisition of the fire apparatus described in this Resolution; and, WHEREAS, the City of Yreka has a strategy to conserve working capital for the Fire Station capital project, however the City has adequate cash (Measure H funds) on hand to facilitate the apparatus acquisition,
WHEREAS, it is in the public interest to take action at the earliest possible time to take advantage of the availability of the equipment at the pricing and fabrication times available under the contract and to fix purchase prices on said fire apparatus before November 7, 2022, which are all beneficial for the City, otherwise additional costs or interest may be incurred; and WHEREAS, the City Council hereby authorizes the City Attorney to review the Purchase Agreement, together with the City Manager for the purchase authorized herein and to execute any other documents authorized and necessary by this Resolution to carry out the purpose of this Resolution;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF YREKA DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
1. Purchase Agreement. The City Council hereby approves entering into a Purchase Agreement and authorizes the City Manager to execute and deliver the Purchase Agreement, together with any changes therein or additions thereto deemed advisable.
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2. Findings. The acquisition of the Fire Apparatus, under the terms and conditions provided for in the Agreement and this Resolution, is necessary, convenient, in the furtherance of and will at all times be used in connection with the City of Yreka's governmental and proprietary purposes and functions (except to the extent that subleasing of the Equipment is permitted under terms of the Agreement) and are in the best interest of the City of Yreka, and no portion of the Fire Apparatus will be used directly or indirectly in any trade or business carried on by any person other than a governmental unit of the State on a basis different from the general public.
3. Maintenance. The City covenants that it will perform all acts within its power which are or may be necessary to ensure the maintenance of its legal status as being a duly organized and existing entity under the laws of the State of California, which status is to at all times remain exempt from federal income taxation under the laws and regulations of the United States of America as presently enacted and construed or as hereafter amended.
4. Savings Clause. It is further resolved, if any section, subsection, part, clause, sentence or phrase of this Resolution or the application thereof is for any reason held to be invalid or unconstitutional by a decision of any court of competent jurisdiction, the validity of the remaining portions of this Resolution, the application thereof, shall not be effected thereby but shall remain in full force and effect, it being the intention of the City Council to adopt each and every section, subsection, part, clause, sentence phrase regardless of whether any other section, subsection, part, clause, sentence or phrase or the application thereof is held to be invalid or unconstitutional.
5. Other Actions. The City Manager and other officers of the City are each hereby authorized and directed, jointly and severally, to do any and all things to execute and deliver any and all agreements, documents and certificates which they may deem necessary or advisable in order to carry out, give effect to and comply with the terms of this Resolution and the Purchase Agreement. Such actions are hereby ratified, confirmed and approved.
6. Attestations. The City Clerk or other appropriate City officer is hereby authorized and directed to attest the signature of the City Manager, and to affix and attest the seal of the City, as may be required or appropriate by in connection with the execution and delivery of the Purchase Agreement.
7. Effect. This Resolution shall take effect immediately upon its passage.
Passed and adopted this 1st day of November 2022, by the following vote:
AYES:
NAYS:
ABSENT:
ABSTAIN:
_________________________________________________
Duane Kegg, Mayor
Attest:
_________________________________________________
Rhetta Hogan, City Clerk
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QT AC Super 6 Tl\l
**Based on a 60" C/A Ford F-550 Chassis
Specification Rev 1
Proposal # 0822-02
Prepared for:
CITY OF YREKA
I PRICE INCLUDES ALL ITEMS DESCRIBED IN ENCLOSED SPEC I $ 1268,920.00 /EA.* *Price does not include sales tax, shipping or delivery charges.
QT AC Fire and Rescue Apparatus
a product of MTECH, Inc.
1072 Marauder, Suite 210
Chico CA 95973 +1.888.797.5100
www .gtacfire.com
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Healthy Siskiyou Mobile Unit
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Linkage to Services
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Other Public Health services offered
2019-2022-182 Referrals to Mental Health
or Substance Use Treatment Programs
2021- 1572 Doses Distributed
151 Overdose reversals reported
2019-2022- 104 Tests
According to the CDC currently, the lifetime
treatment cost of an HIV infection is
estimated at $379,668. Research shows
that early HIV diagnosis and treatment
improves health outcomes and life
expectancy.
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Harm Reduction Program
Harm reduction is an approach that emphasizes engaging directly with people who use drugs to prevent overdose and infectious disease transmission, improve the physical, mental, and social wellbeing of those served, and offer low-threshold options for accessing substance use disorder treatment and other health care services.
A comprehensive prevention strategy, harm reduction is part of the continuum of care. Harm reduction approaches have proven to prevent death, injury, disease, overdose, and substance misuse. Harm reduction is effective in addressing the public health epidemic involving substance use as well as infectious disease and other harms associated with drug use Siskiyou County Syringe Service Program Est. 2019 after authorization of Siskiyou County Board of Supervisors and California Department of Public Health
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Syringe Service Program-Data
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Syringes Collected Syringes Distributed Kiosks Collected 172
Bi-annual Point-in-time
Surveys
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Syringe Disposal Kiosks
Siskiyou County Public Health has responded to the
need for syringe disposal kiosks to help prevent syringe litter in communities.
Improper sharps disposal can affect janitors, pest
control workers, groundskeepers, waste management
workers, and children or household pets among others.
Safe, legal and convenient syringe disposal sites will be available in multiple locations throughout the county.
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Current Locations:
Siskiyou County Public Health 810 S Main, Yreka
South Parking Lot from 5915 Dunsmuir Ave
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Proposed Locations
#1. Oberlin Rd Parking Lot Next to trash receptacles
#2. Main St. Yreka Trail entrance/exit
#3. Street side of Campus Drive. In
front of Behavioral Health
Option#4- Wait for Urban Campsite to be
operational
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Questions?
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