HomeMy WebLinkAboutYgrene Energy Fund - Pace Program - 2015INDEMNIFICATION AND INSURANCE AGREEMENT
BY AND BETWEEN
THE CITY OF NATIONAL CITY
AND
YGRENE ENERGY FUND CA, LLC
This Indemnification and Insurance Agreement ("Agreement") is entered into by and
between the City of National City, a municipal corporation ("City") and Ygrene Energy Fund
CA, LLC, a California limited liability company ("Administrator"), the administrator of the
California Home Finance Authority's PACE Program and the California Home Finance
Authority's Community Facilities District No. 2014-1 (Clean Energy).
RECITALS
WHEREAS, the California Home Finance Authority ("Authority") is a joint exercise of
powers authority established pursuant to Chapter 5 of Division 7, Title 1 of the California
Government Code (Section 6500 et. seq.) and the Joint Exercise of Powers Agreement entered
into on July 1, 1993, as amended from time to time ("Authority JPA"); and
WHEREAS, the Authority is in the process of amending the Authority JPA to formally
change its name to the Golden State Finance Authority; and
WHEREAS, the Authority has established a property -assessed clean energy ("PACE")
Program ("Authority PACE Program") to provide for the financing of renewable energy
generation, energy and water efficiency improvements, and electric vehicle charging
infrastructure (the "Improvements") pursuant to Chapter 29 of Division 7 of the California
Streets and Highways Code ("Chapter 29"), within counties and cities throughout the State of
California that elect to participate in the Program; and
WHEREAS, in addition, the Authority has established the Community Facilities District
No. 2014-1(Clean Energy) in accordance with the Mello -Roos Community Facilities Act, set
forth in sections 53311 through 53368.3 of the California Government Code ("Act") and
particularly in accordance with sections 53313.5(1) and 53328.1(a) ("District"); and
WHEREAS, the City Council of the City of National City has approved the City joining
the Authority, has consented to the inclusion in the Authority PACE Program of all of the
properties in the jurisdictional boundaries of the City and to the acquisition, construction, and
installation of the Improvements, upon the request by and voluntary agreement of owners of such
properties, in compliance with the laws, rules and regulations applicable to the Program, and has
consented to the inclusion in Community Facilities District No. 2014-1(Clean Energy) of all of
the properties in the City's jurisdiction and to the construction and installation of the Authorized
Improvements, upon the request of, and execution of the Unanimous Approval Agreement by,
the owners of such properties when such properties are annexed, in compliance with the laws,
rules and regulations applicable to the District; and
WHEREAS, the Authority and the Administrator have entered into a Third Party
Administration Agreement, dated March 2015, in which the Administrator agrees to administer
the Authority PACE Program and/or Community Facilities District No. 2014-1(Clean Energy)
on behalf of the Authority; and
WHEREAS, the Administrator agrees to indemnify the City and to provide insurance in
connection with the administration of the Authority PACE Program and/or Community Facilities
District No. 2014-1(Clean Energy) in the City of National City.
NOW, THERFORE, in consideration of the Recitals above and of the City's agreement
to join the Authority and to participate in the Authority's PACE Program and/or Community
Facilities District No. 2014-1(Clean Energy), the parties agree as follows:
1. Agreement to Indemnify. The Administrator agrees to defend, indemnify, and
hold harmless the City, its officers, elected or appointed officials, employees, agents, and
volunteers from and against any and all claims, damages, losses, expenses, fines, penalties,
judgments, demands, and defense costs (including, without limitation, actual, direct, out-of-
pocket costs and expenses, and amounts paid in compromise or settlement and reasonable
outside legal fees arising from litigation of every nature or liability of any kind or nature
including civil, criminal, administrative or investigative) arising out of or in connection with the
Authority's PACE Program or Community Facilities District No. 2014-1 (Clean Energy), except
such loss or damage which was caused by the sole negligence or willful misconduct of the City.
The Administrator will conduct all defenses at its sole cost and expense, and the City shall
reasonably approve selection of the Administrator's counsel. This indemnity shall apply to all
claims and liability regardless of whether any insurance policies of the Administrator, its
affiliates or any other parties are applicable thereto. The policy limits of any insurance of the
Administrator, its affiliates or other parties are not a limitation upon the obligation of the
Administrator, including without limitation, the amount of indemnification to be provided by the
Administrator. The provisions of this section shall survive the termination of this Agreement.
2. Insurance. The Administrator agrees that, at no cost or expense to the City, at all
times during the administration of the Authority's PACE Program and Community Facilities
District No. 2014-1 (Clean Energy), to maintain the insurance coverage set forth in Exhibit "A"
to this Agreement.
3. Amendment/Interpretation of this Agreement. This Agreement, including all
Exhibits attached hereto, represents the entire understanding of the parties as to those matters
contained herein. No prior oral or written understanding shall be of any force or effect with
respect to those matters covered hereunder. No supplement, modification, or amendment of this
Indemnification Insurance Agreement 2 City of National City and
2015 Ygrene Energy Fund CA, LLC
8. Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed to be an original, which together shall constitute the same instrument.
9. Effective Date. This Agreement will be effective as of the date of the signature of
City's representative as indicated below in the City's signature block.
IN WITNESS HEREOF, the parties hereto duly executed this Agreement as of the date
below.
CITY
CITY OF NATIONAL CITY
B
Date:
on Morrison, Mayor
PROVED TO FORM:
u.ia Silva
City Atto ey
Indemnification Insurance Agreement
ADMINISTRATOR
YGRENE ENERGY FUND CA, LLC
By:
Stacey L'k3on, President/CEO
Date:
4 City of National City and
2015 Ygrene Energy Fund CA, LLC
Agreement shall be binding unless executed in writing by both parties hereto. This Agreement
shall not be interpreted for or against any party by reason of the fact that such party may have
drafted this Agreement or any of its provisions.
4. Section Headings. Section headings in this Agreement are included for
convenience of reference only and shall not constitute a part of this Agreement for any other
purpose.
5. Waiver. No waiver of any of the provisions of this Agreement shall be binding
unless in the form of a writing signed by the party against whom enforcement is sought, and no
such waiver shall operate as a waiver of any other provisions hereof (whether or not similar), nor
shall such waiver constitute a continuing waiver. Except as specifically provided herein, no
failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a
waiver thereof.
6. Severability and Governing Law. If any provision or portion thereof of this
Agreement shall be held by a court of competent jurisdiction to be invalid, void, or otherwise
unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted
by law. This Agreement shall be governed by and construed and enforced in accordance with
the laws of the State of California applicable to contracts made and to be performed in
California.
7. Notices. All notices, demands and other communications required or permitted
hereunder shall be made in writing and shall be deemed to have been duly given if delivered by
hand, against receipt, or mailed certified or registered mail and addressed as follows:
If to the Administrator:
If to the City:
Indemnification Insurance Agreement
Bart Van Voorhis
Senior Vice President, Corporate Development
Ygrene Energy Fund CA, LLC
815 5th Street, Suite 100
Santa Rosa, CA 95404
Alfredo Ibarra
Director, Housing, Grants, and Asset Management
City of National City
1243 National City Boulevard
National City, CA 91950-4301
3 City of National City and
2015 Ygrene Energy Fund CA, LLC
INSURANCE
A. Minimum Scope of Insurance
Coverage shall be at least as broad as:
EXHIBIT A
1. The coverage provided by Insurance Services Office Commercial General
Liability coverage ("occurrence") Form Number CG 0001; and
2. The coverage provided by Insurance Services Office Form Number CA 0001
covering Automobile Liability. Coverage shall be included for all owned, non -
owned and hired automobiles; and
3. Workers' Compensation insurance as required by the California Labor Code and
Employers Liability insurance; and
4. Professional Liability Errors & Omissions for all professional services.
There shall be no endorsement reducing the scope of coverage required above unless approved
by the National City Risk Manager.
B. Minimum Limits of Insurance
Administrator shall maintain limits no less than:
1. Commercial General Liability: $1,000,000 per occurrence for bodily injury,
personal injury and property damage. If Commercial Liability Insurance or other
form with a general aggregate limit is used, either the general aggregate limit shall
apply separately to this project/location or the general aggregate limit shall be
twice the required occurrence limit; and
2. Automobile Liability: $1,000,000 combined single limit per accident for bodily
injury and property damage; and
3. Workers' Compensation and Employers Liability: Workers' Compensation limits
as required by the California Labor Code and Employers Liability limits of
$1,000,000 per accident; and
4. Professional Liability Errors & Omissions $1,000,000 per occurrence/ aggregate
limit.
C. Deductibles and Self -Insured Retentions
Any deductibles or self -insured retentions must be declared to, and approved by the National
City Risk Manager. At the option of City, either: the insurer shall reduce or eliminate such
deductibles or self -insured retentions as respects City, its officers, employees, agents and
Indemnification Insurance Agreement 5
20I5 Ygrene Energy Fund CA, LLC
City of National City and
contractors; or Administrator shall procure a bond guaranteeing payment of losses and related
investigations, claim administration and defense expenses in an amount specified by the National
City Risk Manager.
D. Other Insurance Provisions
The policies are to contain, or be endorsed to contain, the following provisions:
1. Commercial General Liability and Automobile Liability Coverages.
a. National City, its officers, employees, agents, and contractors are to be
covered as additional insureds as respects: Liability arising out of
activities performed by or on behalf of Administrator; products and
completed operations of Administrator; premises owned, leased, or used
by Administrator; and automobiles owned, leased, hired or borrowed by
Administrator. The coverage shall contain no special limitations on the
scope of protection afforded to the City, its officers, employees, agents,
and contractors.
b. Administrator's insurance coverage shall be primary insurance as respects
the City, its officers, employees, agents, and contractors. Any insurance
or self-insurance maintained by City, its officers, employees, agents, or
contractors shall be excess of Administrator's insurance and shall not
contribute with it.
c. Any failure to comply with reporting provisions of the policies by
Administrator shall not affect coverage provided to the City, its officers,
employees, agents, or contractors.
d. Coverage shall state that Administrator's insurance shall apply separately
to each insured against whom claim is made or suit is brought, except with
respect to the limits of the insurer's liability.
e. Coverage shall contain a waiver of subrogation in favor of the City, its
officers, employees, agents, and contractors.
2. Workers' Compensation and Employers' Liability.
Coverage shall contain waiver of subrogation in favor of National City, its
officers, employees, agents, and contractors.
3. All Coverages
Each insurance policy required by this AGREEMENT shall be endorsed to state
that coverage shall not be suspended, voided, cancelled, or reduced in limits
except after thirty (30) days' prior written notice has been given to the City,
except that ten (10) days' prior written notice shall apply in the event of
cancellation for nonpayment of premium.
Indemnification Insurance Agreement
2015
6 City of National City and
Ygrene Energy Fund CA, LLC
E. Acceptability of Insurers.
Insurance is to be placed with insurers acceptable to the National City Risk Manager.
F. Verification of Coverage.
Administrator shall furnish the City with certificates of insurance and with original endorsements
affecting coverage required by this AGREEMENT. The certificates and endorsements for each
insurance policy are to be signed by a person authorized by that insurer to bind coverage on its
behalf.
Proof of insurance shall be either emailed in pdf format to: eamaya@nationalcityca.gov or
mailed to the following postal address or any subsequent address as may be directed in writing
by the National City Risk Manager:
Risk Manager
City of National City
1243 National City Boulevard
National City, CA 91950-4301
G. Subcontractors
Administrator shall include all subcontractors as insureds under its policies or shall obtain
separate certificates and endorsements for each subcontractor.
Indemnification Insurance Agreement 7 City of National City and
2015 Ygrene Energy Fund CA, LLC
RESOLUTION NO. 2015 — 113
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY
CONSENTING TO THE INCLUSION OF PROPERTIES WITHIN
THE CITY OF NATIONAL CITY'S JURISDICTION IN THE CALIFORNIA
HOME FINANCE AUTHORITY'S PACE PROGRAM TO FINANCE RENEWABLE
ENERGY GENERATION, ENERGY AND WATER EFFICIENCY IMPROVEMENTS,
AND ELECTRIC VEHICLE CHARGING INFRASTRUCTURE; AUTHORIZING
THE AUTHORITY TO LEVY ASSESSMENTS, IMPOSE CONTRACTUAL
ASSESSMENT LIENS, AND FINANCE ELIGIBLE IMPROVEMENTS ON
THOSE PROPERTIES; APPROVING MEMBERSHIP IN THE CALIFORNIA
HOME FINANCE AUTHORITY; AND AUTHORIZING THE MAYOR TO
EXECUTE THE INDEMNIFICATION AND INSURANCE AGREEMENT
WITH YGRENE ENERGY FUND CA, LLC
WHEREAS, the California Home Finance Authority ("Authority") is a joint
exercise of powers authority established pursuant to Chapter 5 of Division 7, Title 1 of the
California Government Code (Section 6500 et. seq.) and the Joint Exercise of Powers
Agreement entered into on July 1, 1993, as amended from time to time ("Authority JPA"); and
WHEREAS, the Authority is in the process of amending the Authority JPA to
formally change its name to the Golden State Finance Authority; and
WHEREAS, the Authority has established a property -assessed clean energy
("PACE") Program ("Authority PACE Program") to provide for the financing of renewable energy
generation, energy and water efficiency improvements, and electric vehicle charging
infrastructure (the "Improvements") pursuant to Chapter 29 of Division 7 of the California Streets
and Highways Code ("Chapter 29"), within counties and cities throughout the State of California
that elect to participate in the Program; and
WHEREAS, Chapter 29 authorizes cities and counties to assist property owners
in financing the cost of installing the Improvements through a voluntary contractual assessment
program; and
WHEREAS, the assessments levied pursuant to Chapter 29, and the interest and
any penalties thereon, shall constitute a lien against the lots and parcels of land on which they
are made, until they are paid; and
WHEREAS, the assessments may be levied under the provisions of Chapter 29
only with the free and willing consent of the owner of each lot or parcel on which an assessment
is levied at the time the assessment is levied; and
WHEREAS, the parameters of the Authority PACE Program are set forth in the
Program Report which has been prepared pursuant to Section 5898.22 of Chapter 29; and
WHEREAS, the City Council of the City of National City has reviewed the
Program Report; and
WHEREAS, the City desires to participate in the Authority PACE Program and
provide for participation in the Authority PACE Program by property owners located within the
City's jurisdiction; and
Resolution No. 2015-113
August 4, 2015
Page Two
WHEREAS, in order to participate in the Authority PACE Program, the City
desires to become an Associate Member of the Authority. A copy of the JPA Agreement is
attached to this Resolution as Exhibit "A"; and
WHEREAS, to protect the City in connection with the administration of the
Authority PACE Program, Ygrene Energy Fund CA, LLC, the Program administrator, has
agreed to defend and indemnify the City; and
WHEREAS, the City will not be responsible for the conduct of any assessment
proceedings, the levy and collection of assessments or any required remedial action in the case
of delinquencies in the payment of any assessments or the issuance, sale or administration of
any bonds issued in connection with the Authority PACE Program.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
National City as follows:
1. The City Council approves the City joining the Authority as an Associate member
and authorizes the Mayor to execute the Signature Page for New Associate Members to the
JPA Agreement.
2. The City Council finds and declares that properties in the City's jurisdiction will be
benefited by the availability of the Authority PACE Program to finance the installation of the
Improvements.
3. The City Council consents to inclusion in the Authority PACE Program of all of
the properties in the jurisdictional boundaries of the City and to the acquisition, construction, and
installation of the Improvements, upon the request by and voluntary agreement of owners of
such properties, in compliance with the laws, rules and regulations applicable to the Program.
4. The City Council consents to the assumption of jurisdiction by the Authority for all
purposes of the Authority PACE Program and authorizes the Authority, upon satisfaction of the
conditions imposed in this Resolution, to take each and every step required for, or suitable for,
financing the Improvements, including the levying, collecting and enforcement of the contractual
assessments to finance the Improvements and the issuance and enforcement of bonds to
represent such contractual assessments.
5. The City Council acknowledges that the Authority has prepared, and will update
from time to time, the Program Report pursuant to requirements of Chapter 29, and the
Authority will undertake assessment proceedings and the financing of the Improvements as set
forth in the Program Report.
6. The Authority will administer, or cause the administration of, the Authority PACE
Program at no cost to the City.
7. The Mayor is authorized to execute the Indemnification and Insurance
Agreement with Ygrene Energy Fund CA, LLC.
Resolution No. 2015-113
August 4, 2015
Page Three
8. The City will not be responsible for the conduct of any assessment proceedings,
the levy and collection of assessments or any required remedial action in the case of
delinquencies in the payment of any assessments or the issuance, sale or administration of any
bonds issued in connection with the Authority PACE Program.
9. This Resolution shall take effect immediately upon its adoption. The City Clerk is
directed to send a certified copy of this Resolution to the Secretary of the Authority.
PASSED and ADOPTED this 4th day of August, 2015.
1::'4
on Morrison, Mayor
ATTEST:
Mi hael R. Dalla, City Clerk
PPROVED AS TO FORM:
Claudia Gacit Silva
City Attorney
Passed and adopted by the Council of the City of National City, California, on August 4,
2015 by the following vote, to -wit:
Ayes: Councilmembers Cano, Mendivil, Morrison, Rios, Sotelo-Solis.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Mayor of the City of National City, California
y....06.eLiie
Cityrk of the City ofNational City, California
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2015-113 of the City of National City, California, passed and
adopted by the Council of said City on August 4, 2015.
City Clerk of the City of National City, California
By:
Deputy
CITY OF NATIONAL CITY, CALIFORNIA
COUNCIL AGENDA STATEMENT
MEETING DATE: August 4, 2015
AGENDA ITEM NO. 11
ITEM TITLE:
Resolution of the City Council of the City of National City consenting to the inclusion of properties
within the City of National City's jurisdiction in the California Home Finance Authority's PACE
program to finance renewable energy generation; energy and water efficiency improvements and
electric vehicle charging infrastructure; authorizing the Authority to levy assessments; impose
contractual assessment liens and finance eligible improvements on those properties; approving
membership in the California Home Finance Authority; and authorizing the Mayor to execute the
Indemnification and Insurance Agreement. (Housing, Grants, and Asset Management)
Carlos Aguirre,
PREPARED BY: Community Development Manager
PHONE: 619 336-4391
EXPLANATION: Please see background report.
DEPARTMENT: Housing, Grants, & Asset
Management
FINANCIAL STATEMENT:
ACCOUNT NO.
APPROVED:
APPROVED:
Finance
MIS
N/A
ENVIRONMENTAL REVIEW:
This activity is not a project as defined in Section 57378 of the California Code of Regulations.
Therefore, no action is required under the California Environmental Quality Act.
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
STAFF RECOMMENDATION: Adopt the resolution.
BOARD / COMMISSION RECOMMENDATION:
ATTACHMENTS:
1. Background Report]
2. CHF AB811 Program Report
3. CHF Resolution 2014-05
4. Indemnification and Insurance Agreement
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Attachment 1
Ygrene PACE Program and Indemnification Background Report
California Home Finance Authority ("CHFA"), which is in the process of formally changing its
name to Golden State Finance Authority, is a joint exercise of powers authority established
pursuant to Chapter 5 of Division 7, Title 1 of the Government Code of the State of California
(Section 6500 and following) (the "Act") and the Joint Power Agreement entered into on July 1,
1993, as amended from time to time.
Assembly Bill 811 (2008) ("AB 811") amended Chapter 29 of the Streets and Highways Code
and allows a jurisdiction to form a voluntary contractual assessment district to finance energy -
efficiency, water conservation, renewable energy generation and electric vehicle charging
infrastructure improvements that are permanently attached to private real property. Amortized
repayment of the funding for these projects is secured by property tax assessments authorized by
the owners of the improved properties. Liens remain with the property upon change of ownership
unless paid. Property owners voluntarily enter into a program financing agreement that
authorizes recording of an assessment and tax lien on their property to secure project financing.
Assessments are repaid through biannual, non -ad valorem property tax installments at fully
amortized fixed interest rates for terms approved by the jurisdiction.
Ygrene Energy Fund (Ygrene) and Golden State Finance Authority (GSFA) fully intend and
expect to operate the SB 555 version of the PACE program once the validation suit is completed.
However, there are a number of important reasons why Ygrene and GSFA have chosen to
establish, validate, and maintain both the SB 555 and AB 811 program offerings including
ensuring that the "Ygrene Works for California" program remains the most innovative, cost
effective and most secure PACE program in the state.
Additional reasons include:
1. Should market conditions, consumer demand and/or legislative changes effect one
PACE program more that another, Ygrene and GSFA will have the flexibility to convert without
any service interruption to participating counties and cities and their property owners. Having the
ability to offer either program model best supports this vision of service.
2. Offering both AB 811 and SB 555 from the outset also ensures that the Ygrene Works
program remains flexible, innovative and able to meet market demands should one program
better suit a given measure or set of measures over the other. Ygrene and GSFA intend to
maximize the benefits of both program offerings.
3. Providing this breadth of service ensures that no matter the market or legislative
environment for PACE, the Ygrene Works program will be established and able to operate
successfully without the need for additional review or the need for the Board of Supervisors to
consider approving another resolution thereby saving valuable staff time and resources.
The assessments levied pursuant to Chapter 29, and the interest and any penalties thereon, shall
constitute a lien against the lots and parcels of land on which they are made, until they are paid.
The assessments may be levied under the provisions of Chapter 29 only with the free and willing
consent of the owner of each lot or parcel on which an assessment is levied at the time the
assessment is levied.
In order to participate in the Authority PACE Program, the City desires to become an Associate
Attachment 1
Member of the Authority. In addition, Ygrene Energy Fund CA will be the program
administrator ("Ygrene").
In order to protect the City in connection with the administration of the Authority PACE
Program, Ygrene Energy has agreed to defend and indemnify the City. The City will not be
responsible for the conduct of any assessment proceedings, the levy and collection of
assessments or any required remedial action in the case of delinquencies in the payment of any
assessments or the issuance, sale or administration of any bonds issued in connection with the
Authority PACE Program.
The City has opted into similar programs. For instance, on August, 19, 2014, the City Council of
the City of National City authorized the City to opt into three (3) PACE programs, HERO,
CaliforniaFirst, and Figtree.
Attachment 2
CALIFORNIA CLEAN ENERGY PROGRAM
CALIFORNIA HOME FINANCE AUTHORITY
PROGRAM REPORT
Attachment 2
Contents
1. Introduction
2. Program Report
3. Program Requirements & Parameters
4. Authorized Improvements
5. The Financial Strategy
6. Changes to the Report
Appendix A — Map of the Program Area
Appendix B — Form of Assessment Contract
A Residential Program Handbook and a Commercial Program Handbook provide further details.
Attachment 2
1. Introduction
In July of 2008, the California Legislature approved Assembly Bill 811 amending Chapter 29 of
the Improvement Act of 1911 (Streets and Highways Code Section 5898.12 and following) (the
"Act"), authorizing cities and counties to establish voluntary contractual assessment programs to
fund an array of conservation and renewable energy projects proposed by property owners
(collectively "PACE" programs). The Act was subsequently amended to add water efficiency
improvements and electrical vehicle charging infrastructure to the list of authorized
improvements ("Authorized Improvements"). The California Legislature declared that such
programs, which authorize local governments to finance the installation of such improvements
that are permanently affixed to real property, would serve a public purpose.
California Home Finance Authority ("the Authority") intends to use its authority to establish and
judicially validate a PACE program (the "Program"). Under the Program, private property owners
will enter into a voluntary contractual assessment with the Authority. The amount of the
contractual assessment is equal to the cost to pay for the installation of Authorized
Improvements, the costs of bonds that will finance the Program, the costs to administer the
Program and Program fees. Like most assessments, the amounts are billed and collected on
County property tax bills. If the property is sold or the primary mortgage(s) refinanced, the
obligation to make the payments on the assessment will remain on the property or can, subject
to prepayment premiums that may be established for the Program, be paid off. If a property
owner fails to pay the annual contractual assessment installments, the Trustee, on behalf of the
Authority, is obligated to strip the delinquent installments off the property tax bill and commence
judicial proceedings to foreclose the lien of the delinquent installments. This is an expedited
procedure, disclosed in the Assessment Contract and other Program documents that can result
in the public sale of the property in less than a year.
The Program is being instituted to serve private properties within California. The Program will be
offered in both incorporated and unincorporated jurisdictions that are members or associate
members of the Authority, or that become members or associate members in the future,
consistent with terms and conditions adopted by the Authority. Any incorporated territories
authorizing the Program must agree to comply with all terms and conditions of the Program as
adopted from time to time.
Property owner participation in the Program is purely voluntary and requires the full consent of
all of the owners of any property for which Program financing will be used to install Authorized
Improvements. As with other land -secured public financing programs (such as utility or road
maintenance assessment districts), property owners repay the costs advanced by the Program
through property taxes that amortize a recorded assessment on the property. Assessment
installments are payable, along with ad valorem and other property taxes, in semi-annual
installments that appear as a separate line item on property tax bills.
Program Goals: The Authority intends that the Program will allow property owners to make
principled investments in their homes and businesses, in their long-term economic health and in
the global environment. At the same time, this Program can help jurisdictions throughout
California meet State goals for dealing with climate change and drought.
Program Benefits: The Program provides a strategic opportunity for cities and counties to
achieve significant public benefits in the areas of economic development and quality of life. By
letting property owners easily finance energy and water conservation measures the Program
Attachment 2
promotes reduced consumption. This translates into direct consumer savings and an increase in
discretionary income. The multiplier effect attributable to such savings can benefit businesses
and households throughout California, encouraging job growth and bolstering local -government
revenues. The most recent ECONorthwest study shows that investments in energy efficiency
lead to direct job growth, estimating up to 60 new jobs for every $4 million invested.
Improvements to the building stock as a result of Program financing enhance occupant comfort
and safety, promote public health and increase employee productivity. Water conservation
projects increase the supply and quality of the State's water resources and protect recreational
and life-style access.
Program Administration: The Authority is contracting with Ygrene Energy Fund (the "Program
Administrator") to operate and fund the Program. The Authority's Executive Director or
designee is authorized to enter into Assessment Contracts on behalf of the Authority. The
Program Administrator will oversee the staff, contractors and organizations assisting with
Program implementation.
2. Program Report
The Authority stated its intention to establish the California Clean Energy Program on September
26, 2014 by adopting its Resolution No. 2014-05 (the "ROI"). The Authority directed preparation
of this Program Report (the "Report") to include the following:
• A map showing the boundaries of the territory within which the Program intends to offer
voluntary assessment financing to private property owners (Exhibit A).
• Policies concerning participation in the Program and the maximum aggregate dollar amount
of Authorized Improvements that may be financed under the Program.
• Identification of the Authorized Improvements.
• Information on the Authority's and the Program Administrator's incidental, financing, and
administrative costs, and the cost of placing assessments on the tax roll.
• A plan for raising capital required to pay for work performed pursuant to contractual
assessments.
• A draft assessment agreement ("Assessment Contract") that includes information defining the
Authority official authorized to enter into Assessment Contracts with participating property
owners (Exhibit B).
The Report is the guiding document for the Program and fulfills the requirements of Sections
5898.22 and 5898.23 of the California Streets and Highways Code. The Program is offered to
property owners in Cities and Counties throughout the State of California that are members or
associate members of the Authority, or that become members or associate members of the
Authority, and that elect to make the Program available to their constituents by adopting a
resolution that authorizes Ygrene Energy Fund CA, LLC ("Program Administrator") to operate
the Program on behalf of the Authority within their respective boundaries. The Administrator
also offers supplemental handbooks ("Program Handbook") for the residential and commercial
sections of the Program.
3. Program Requirements & Parameters
Attachment 2
Boundaries of Program Area
A map (Exhibit A) showing the prospective boundaries within which contractual assessments
may be offered is attached. The governing bodies of counties within the prospective boundaries
may allow citizens in the unincorporated areas of the County to participate in Program financing
by passing a resolution adopting the Program. Incorporated cities must adopt similar
resolutions to enable their residents to participate. Each owner intending to secure Program
financing for their property must complete an application, pay the application fee and secure the
signatures of all owners of record on the Assessment Contract.
Eligible Property Owners and Eligible Properties
Property owners eligible to participate in the Program include, but are not necessarily limited to,
individuals, associations, business entities, and cooperatives. For financing to be approved,
property owners must meet eligibility and underwriting criteria established for the Program.
Details of these requirements are provided in the Program Handbook (available from the
Program Administrator) and on-line. Notwithstanding anything to the contrary in this Report or
in any Program Handbook, the Authority and the Program Administrator will implement
adequate safeguards to ensure compliance with Section 5898.15 of the Act.
Authorized Improvements
The Program enables owners of qualified property within the Program area to finance a wide
range of Authorized Improvements consistent with the following provisions:
• The Program provides financing for Authorized Improvements that are permanently affixed to
real property.
• Program financing may be used for direct purchase of equipment, installation and services,
leases and power purchase agreements.
• Program financing is available for retrofits that replace outdated or inefficient equipment, or
to install new equipment.
• The Program Administrator certifies contractors for participation in the Program (each, a
"Certified Contractor") and requires that they meet Program standards.
Eligible Project Costs and Administrative Costs
Eligible Project Costs.
• Program financing may be used to cover the actual cost of Authorized Improvements including
charges for equipment, materials, supplies, and installation.
• Installation costs may include, but are not necessarily limited to, construction labor, energy
and water -survey consultants and auditors, design/engineering/architecture, and program
soft costs such as appraisals, permits and inspection fees.
• The Program Administrator must pre -approve any payments for labor provided by property
owners on Authorized Improvements.
• Eligible costs do not include general remodeling or property repairs that are not directly
required to enable installation of Authorized Improvements.
Attachment 2
Administrative Costs.
• The intent of the Program is to minimize initial out of pocket costs for property owners
while also supporting Program sustainability. Accordingly, the Program Administrator
may impose fees and other charges in accordance with schedules posted from time to
time on the Program website and in Program materials. With the exception of the
application fee, all Program fees may be included in the financing and will be added to
the disbursement amount at the time of closing unless the property owner elects to pay
them directly.
Duration of Assessment
Assessment Contracts may be available for terms up to 30-years based on the average
weighted useful lives of the installed Authorized Improvements. Most projects are financed for
20 years, but the Program Administrator offers alternative amortization schedules to
accommodate property owner preferences.
Program Interest Rate
The Program Administrator will set the interest rate for the financing at the time the property
owner enters into an Assessment Contract. The interest rate will be fixed at that point for the
rate -lock period ("Rate Lock") defined in the Assessment Contract and will not change unless
the property owner fails to submit a valid funding request during the Rate -Lock. The Program
Administrator will make periodic changes to the Program interest rates and Rate -Lock periods in
response to conditions in the financial markets. Current policies will be available from the
Program Administrator and on the Program website.
Assessment Lien
All owners of record of participating properties must sign an Assessment Contract and have their
signatures either notarized or verified through a third party verification process. Execution of the
Assessment Contract authorizes recording of a lien on the property that secures repayment of
the assessments levied in accordance with the agreement.
Delinquent Assessment Collections
Delinquent assessments will be collected using the procedures and powers authorized under
California law for the collection of property taxes, and assessments. While unlikely, one remedy
available to holders of beneficial interests in Program assessment liens to collect delinquent
installments is accelerated judicial foreclosure of the tax lien against the delinquent property,
which may be initiated following the delinquency. To minimize the possibility of delinquent
assessments the Program Administrator may implement a pooled interest reserve.
First Levy of Assessment
Attachment 2
If funds are disbursed to property owners before June 30 of any year, then the assessment and
the first year's installment will appear on the next tax bill. For disbursements made on or after
July 1 of any year, the first assessment will not appear on the tax bill until the following tax year.
Interest on deferred installments will be capitalized and added to the amount to be financed
under the Assessment Contract or, at the election of the property owner, may be paid directly at
the time of funding.
The Program Administrator may offer an option of financing additional capitalized interest to
enable property owners, at their election, to extend the period during which no assessments
would appear on the property tax bill or be payable.
Reserve Fund
The amount to be financed under the Assessment Contract may include an amount to fund a
reserve from which payments can be made if assessment collections are insufficient to pay debt
service on bonds issued for the Program. The amount of the reserve will be specified in the
Assessment Contract.
4. Authorized Improvements
There are four categories of Authorized Improvements that can be financed through the
Program. A representative list of Authorized Improvements is set out in the Program Handbook.
• Energy Efficiency Improvements: Energy efficiency improvements comprise a wide range of
fixtures from windows and doors to attic insulation and HVAC equipment. Such measures will
help reduce energy use through increased efficiency in buildings and other improved real
property.
• Renewable Energy Improvements: Renewable energy improvements are usually solar
photovoltaic installations intended to replace utility generated electrical power with renewable
solar power for all or part of a property's energy needs. Also included are wind generation,
solar -thermal, geothermal, and hydroelectric installations, as well as emerging technologies
for renewable energy generation.
• Water Conservation Improvements: Water conservation improvements comprise a wide
range of water saving measures designed to reduce demand or waste. Included are
recirculation systems, gray -water systems, low -flow fixtures, waterless urinals, deionization
equipment, and filter upgrades. In addition, numerous innovative agriculture and
aquaculture installations can be financed through the Program.
• Electric Vehicle Charging Infrastructure: The Program can finance charging station
equipment and installations whether for commercial or residential use.
• Custom Improvements: The Program encourages the development of innovative
technologies that will diversify and expand the State's energy saving and renewable energy
generation opportunities. As described above, the Program Administrator is also always
looking to approve for funding creative water saving measures. Applicants who seek
program financing for custom improvements should consult with the Program Administrator
to determine eligibility and, if necessary, obtain directions for submitting detailed information
about the proposal. The Program Administrator will approve custom improvements on a
case -by -case basis.
Attachment 2
5. The Financial Strategy
The following conditions will govern financial resources for the Program, financing of projects,
recordation of assessments and collection and distribution of assessment payments:
• The maximum aggregate principal amount of contractual assessments to be levied under the
Program is $ , subject to increase if there is sufficient demand. It is anticipated
that the Authority will issue bonds secured by contractual assessments that will be purchased
by the Program Administrator, or its affiliates or designees, to fund projects completed under
Program Assessment Contracts.
• The Program Administrator has entered into agreements with funding sources to secure
adequate interim and long-term financing for the Program, and represented to the Authority that
it can provide all necessary financial resources to fund the Program.
• In the event it appears that, at any time, funding resources for the Program will be inadequate to
meet demand, completed and properly executed applications for Program funding will be
processed in the order in which received by the Program Administrator.
• The Executive Director of the Authority and/or designee is authorized to enter into Assessment
Contracts with participating property owners.
• The annual assessments will be authorized in accordance with the Act and the Assessment
Contracts and collected through the property -tax system in the County in which the Property is
located.
• The Authority will pledge the assessment revenues to a trustee as directed by the Program
Administrator as security for bonds issued to finance the Program.
• The Program Administrator will manage the Program, establish the program budget, and be
responsible for funding program operations.
Upon execution of the Assessment Contract, the Program Administrator will record a Notice of
Assessment against the participating property. This lien secures payment of the assessment for
as long as it remains on the property. The Assessment Contract uses (i) a Principal Amount to
be financed, (ii) Capitalized Interest due on the transaction, (iii) a Program Interest Rate charged
on the principal amount, and (iv) ongoing administrative fees, to arrive at the annual assessment
that appears on the tax bill.
• Principal Amount to be Financed: The Program typically finances the costs associated with
installing Authorized Improvements including, but not necessarily limited to, appraisals, energy
and water -survey consultations, architectural and engineering services, permits and inspections.
The financed amount will also include Program fees and capitalized interest. Principal amounts
can also include lease and/or power purchase contract payments, whether up -front or
Attachment 2
incremental.
• Capitalized Interest: County tax collectors place assessments on property tax rolls once
each year — usually during the first week of August. As a result, when funds are disbursed at the
completion of the project, the Program Administrator will add an amount to the assessment
sufficient to cover the interest from the date of closing until the beginning of the tax year when
the assessment is first placed on tax bills. This capitalized interest is included in the financing
and amortized at the Program interest rate for the term of the loan. There will be no payments
due on the financing during the capitalized interest period.
• Program Interest Rate: The rate of interest paid by the property owner for the financing will
be fixed for the entire term. The rate offered to property owners will vary from time to time
depending on the Program Administrator's cost of funds, and will be posted daily on the
Program website.
• Administrative Costs and Costs of Issuance: Annual administrative costs may include, but
are not limited to, (i) the fees charged by the County to prepare the tax roll and collect Program
assessments, (ii) financing origination costs, (iii) costs to offset capital provider, third party and
operational costs associated with the provision of the financing and Program administration and
(iv) reserve funds. These fees will be added to the annual assessment each year.
6. Changes to Report
The Program Administrator may make changes to this Program Report that the Authority and
the Program Administrator reasonably determine are necessary to clarify its provisions or to
effectuate the purposes of the Program. Changes to this Program Report may not affect the
assessments payable under then existing Assessment Contracts between property owners and
the Authority.
Attachment 2
EXHIBIT A — BOUNDARY MAP
BOUNDARIES OF THE DISTRICT
CALIFORNIA HOME FINANCE AUTHORITY
ASSESSMENT DISTRICT NO. 2014-05 (CLEAN ENERGY)
Attachment 2
EXHIBIT B - ASSESSMENT CONTRACT
FORM OF ASSESSMENT CONTRACT
This Assessment Contract (the "Agreement"), dated , is between the California Home Finance
Authority, a California joint exercise of powers authority (the "Authority") and all of the persons or entities identified below as the record owner(s) (the
"Property Owner") of the fee title to the real property identified herein.
Owner No. 1:
Owner No. 2:
Owner No. 3:
Owner No. 4:
Trust:
Legal Entity:
Project ID No.:
Folio Number:
Property Street Address:
City:
State:
Zip:
RECITAL
WHEREAS, the Authority has established a PACE program (the "Program") to allow the financing and refinancing of the installation of distributed
generation renewable energy sources, energy efficiency improvements, water efficiency improvements, and electric vehicle charging infrastructure that
are permanently fixed to real property (the "Qualifying Improvements") through the levy of contractual assessments (the "Assessment(s)") pursuant to
Chapter 29 of Part 3 of Division 7 of the Streets & Highways Code of the State of California, as amended ("Chapter 29"); and
WHEREAS, the Authority has conducted the proceedings required by Chapter 29 and other applicable Califomia law to enter into this Agreement with the
Property Owner; and
WHEREAS, the Authority and the Property Owner wish to enter into this Agreement pursuant to which the Authority will agree to finance or refinance the
costs of installing the Qualifying Improvements and the Property Owner freely and willingly agrees to the imposition by the Authority of the Assessment on
the real property described above (the "Property") in order to repay the costs incurred by the Authority with respect to financing or refinancing the
installation of the Final Improvements, all on the terms set forth in this Agreement; and
WHEREAS, the Authority has contracted with Ygrene Energy Fund California, LLC (together with any successors or assigns), (the "Administrator") to act
as the administrator of the Program pursuant to a Third Party Administration Agreement dated as of (the "Administration Agreement") between
the Authority and the Administrator.
NOW, THEREFORE, in consideration of the foregoing and the material covenants hereinafter contained, the Property Owner and the Authority formally
covenant, agree and bind themselves and their successors and assigns as follows:
Attachment 2
AGREEMENT
Section 1. Purpose.
The Property Owner and the Authority are freely and willingly entering into this Agreement for the purpose of financing or refinancing
the installation of the Final Improvements on the Property whether by lease of the Final Improvements, purchase of energy generated
by the Final Improvements through a power purchase contract or otherwise. The Authority will not finance or refinance the installation
of any improvements that are not Authorized Improvements.
Section 2. The Property. The Property Owner hereby represents and warrants that:
a) It is indefeasibly seized with fee simple title to the Property and possesses all legal authority necessary to execute this Agreement;
b) At property taxes and any other assessments levied on the same bill as property taxes are paid and have not been delinquent for the
preceding three years or the Property Owner's period of ownership, whichever is less;
c) There are no involuntary liens, including, but not limited to, construction liens on the Property; and no notices of default or other
evidence of property -based debt delinquency have been recorded during the preceding three years or the Property Owner's period of
ownership, whichever is less;
d) Property Owner is current on all mortgage debt on the Property; and has not been late in making mortgage payments more than once
in the preceding 12 months, or the Property Owner's period of ownership, whichever is less.
e) If there are any existing mortgages encumbering or otherwise secured by the property, before entering into a financing agreement,
the Property Owner or Administrator has provided to the holders or loan servicers of record of any existing mortgages encumbering or
otherwise secured by the property a notice of the Property Owner's intent to enter into this Agreement together with the maximum
principal amount to be financed and the maximum annual assessment necessary to repay that amount as set forth in Exhibit A.
Property Owner has provided a verified copy or other proof of such notice to the Administrator.
Section 3. Agreement to Pay Assessment; Prepayment; Non -Completion
a) Payment of Final Assessment. Upon completion of the Final Improvements, the Authority will record a Notice of Assessment which
will include the Addendum, which will set forth the final cost of the Final Improvements, which will not exceed the Maximum Amount
(the "Final Cost"), the final total principal amount of the Assessment (the "Final Assessment"), the final annual payment schedule for
the Assessment (the "Final Annual Assessment Schedule"), and each annual amount shown thereon, (the "Yearly Annual
Assessment") and the final interest rate calculated as of the date of execution of the Addendum (the "Final Interest Rate") and the
Property Owner hereby freely and willingly agrees to pay the Final Assessment together with interest thereon at the Final Interest
Rate. THE PROPERTY OWNER ACKNOWLEDGES AND AGREES THAT FINAL INTEREST RATE WILL BE THE SAME AS THE
ESTIMATED INTEREST RATE IF THE FINAL IMPROVEMENTS ARE COMPLETED WITHIN THE PERIOD SET FORTH IN
EXHIBIT A HERETO; OTHERWISE THE FINAL INTEREST RATE WILL BE BASED ON MARKET CONDITIONS EXISTING AT THE
TIME THAT FUNDS ARE RELEASED AND MAY BE MORE THAN THE ESTIMATED INTEREST RATE, RESULTING IN A
CORRESPONDING INCREASE IN THE MAXIMUM ANNUAL ASSESSMENT. IN ADDITION, THE PROPERTY OWNER
ACKNOWLEDGES AND AGREES THAT ALL OF THE AMOUNTS SET FORTH IN EXHIBIT A HERETO WILL CHANGE IF THE
PROPERTY OWNER REQUESTS A CHANGE IN THE TERM OVER WHICH ASSESSMENTS ARE TO BE REPAID. The Authority
shall not provide financing in an amount in excess of the Final Cost. Interest will accrue on the Final Assessment at the Final Interest
Rate.
b) Payment of Non -Completion Assessment. The Property Owner understands and hereby acknowledges that in the event that the
Property Owner begins the installation of the Qualifying Improvements and subsequently decides not to complete such Qualifying
Improvements in compliance with the Program rules and this Agreement (a "Project Abandonment"), the Authority may be obligated to
pay the Authority's expenses incurred prior to Project Abandonment. To the extent the Authority incurs such expenses (the
"Abandonment Payment"), the Property Owner hereby freely and willingly agrees to pay a non -completion assessment (the "Non -
Completion Assessment," which, in the case of a Project Abandonment, will be treated the same as, and may also be referred to as, a
"Final Assessment"). Failure to sign all the required program documents within 30 days of the successful inspection of the
improvements will constitute project abandonment. Upon Project Abandonment, the Property Owner agrees that the Authority will
record a Notice of Assessment which will set forth the amount of the Abandonment Payment, the total principal amount of the Non -
Completion Assessment, the annual payment schedule for the Non -Completion Assessment (the "Annual Non -Completion
Assessment Schedule") and the interest rate calculated as of the date of execution of the Addendum (the "Non -Completion Interest
Rate"). Such Addendum will not require any further consent of, or execution by, the Property Owner. THE PROPERTY OWNER
ACKNOWLEDGES AND AGREES THAT THE NON -COMPLETION INTEREST RATE WILL BE BASED ON MARKET CONDITIONS
EXISTING AT THE TIME THE ADDENDUM IS FINALIZED AND MAY BE MORE OR LESS THAN THE ESTIMATED INTEREST
RATE. Interest will accrue on the Non -Completion Assessment at the Non -Completion Interest Rate. The Property Owner
acknowledges that the purpose of the Non -Completion Assessment is to provide for redemption of any bonds issued by the Authority
or prepayment of any other financial obligation entered into by or on behalf of the Authority to finance or refinance installation of the
Qualifying Improvements, and to pay any costs incurred by the Authority in order to release the lien of the Assessment on the
Property. The Property Owner further agrees and acknowledges that the Authority will levy the Non -Completion Assessment in the
first fiscal year in which the Authority is able to cause the Non -Completion Assessment to be placed on the property tax roll. The
Property Owner hereby freely and willingly agrees to pay the Non -Completion Assessment, together with interest thereon at the Non -
Completion Interest Rate.
c) Administrative Expenses. The Property Owner hereby agrees and acknowledges that the Authority may add amounts to an annual
installment of the Assessment (including a Non -Completion Assessment) in order to pay for the costs of collecting the Assessment
and the administrative costs and expenses of the Authority and the Administrator in administering the Assessment or the bonds
issued to finance or refinance the Qualifying Improvements (the "Final Assessment" and the "Non -Completion Assessment" shall
include such amounts as referred to herein). These amounts may vary based on the applicable County's Tax Collector fee schedule
and the costs of the Authority and Administrator in administering the Program.
d) Prepayment of the Final Assessment. The Final Assessment may be prepaid in whole or in any amount of at least $( j at any
time upon the payment of (i) the amount of any delinquent installments of principal or interest on the Assessment, together with
Attachment 2
penalties accrued to the date of prepayment; (ii) the whole or, subject to the minimum amount set forth in this subsection, a portion of
the unpaid non -delinquent principal component of the Final Assessment; (iii) the accrued but unpaid interest on the principal amount
of the unpaid Final Assessment being prepaid through the earlier of the March 2 or September 2 that occurs at least 50 days following
the date the prepayment is made; (iv) a prepayment premium in the amount set forth on Exhibit A; and (v) a reasonable fee, if
charged by the Authority or the Administrator, for the cost of administering the prepayment and redemption of bonds.
e) Absolute Obligation. The Property Owner hereby agrees and acknowledges that the Assessment will not be subject to reduction,
offset or credit of any kind in the event that the bonds secured thereby are refunded or for any other reason.
Section 4. Collection of Assessment; Lien
The Assessment, the interest and penalties thereon as a result of a delinquency in the payment of any installment of the Assessment,
and the administrative fees shall constitute a lien against the Property until they are paid and shall be collected and, as set forth in
Chapter 29, such lien shall be coequal to and independent of the lien for general taxes.
The Property Owner acknowledges that if any Assessment installment is not paid when due, the Authority has the right to have such
delinquent installment and its associated penalties and interest stripped off the secured property tax roll and immediately enforced
through a judicial foreclosure action that could result in a sale of the Property for the payment of the delinquent installments,
associated penalties and interest, and all costs of suit, including attorneys' fees. The Property Owner acknowledges that, if bonds are
sold to finance the Qualifying Improvements, the Authority may pledge and assign this Agreement and the related Assessment and
lien as security for the bonds and obligate itself, through a covenant with the owners of such bonds, to exercise its judicial foreclosure
rights with respect to delinquent Assessment installments under circumstances specified in such covenant.
Section 5. Financing of the Final Improvements
a) Agreement to Finance Final Improvements. The Authority hereby agrees to use the Assessment to finance the Final Improvements,
including the payment of the Authority's and Administrator's reasonable costs of administering the Program, subject to the Property
Owner's compliance with the conditions for such financing established by the Authority.
b) Disbursement of Funds. The Administrator will make one disbursement on behalf of the Authority when the following conditions have
been met, except in the case of an approved phase or course of construction payment schedule authorized by the Authority. The
Administrator's obligation to disburse funds to pay the costs of the Final Improvements shall be conditioned upon the Property Owner
providing, to the satisfaction of the Administrator, (i) all required affidavits from all contractors and the Property Owner certifying that
the Final Improvements have been completed in accordance with all applicable building codes, regulations, and other governmental
requirements, and (ii) final releases or waivers of all applicable contractors', mechanic's and material men's liens. Disbursed funds
must be used to pay for the installation of improvements, including by lease or power purchase agreement, or used purely as a
reimbursement of expenses incurred for the installation of improvements. Acceptance of financing while refusing to pay for
installation of improvements may constitute fraud against the Program.
Section 6. Term; Agreement Runs with the Land; Subdivision
a) Except as otherwise set forth in this Agreement, this Agreement shall expire upon the final payment or prepayment of the
Assessment.
b) This Agreement establishes rights and obligations that are for the benefit of the Property and such rights and obligations run with the
land.
c) In the event the Property is subdivided while the Assessment remains unpaid, the Assessment will remain on all subdivided parcels
that were used to calculate property value at the time of funding. If the Final Improvements no longer exist, the Assessment will be
assigned to each of the newly created parcels on a per -acre basis, unless the Authority, in its sole discretion, determines that the
Assessment should be allocated in an alternate manner.
Section 7. Recordation of Documents
The Property Owner hereby authorizes and directs the Authority to cause to be recorded in the public records of the applicable
County the various notices and other documents, including an Addendum, required by applicable laws to be recorded against the
Property.
Section 8. Sole Responsibility to Deal with Lenders
The Property Owner should note the following:
1) When the Property Owner enters into this Agreement with the Authority and finances any Qualifying Improvements, an
assessment lien will be imposed on the Property.
2) By law, the assessment lien will be co -equal with the lien for general property taxes. It thus will be superior to the lien of any
existing deed of trust the Property Owner may have previously executed in favor of a mortgage lender.
3) Existing mortgage lenders may contend that by entering into this Agreement the Property Owner has violated the loan
agreements or deeds of trust.
4) The fact that the Property Owner or Administrator sent the notice described in Section 2(e) will not preclude the lenders from later
alleging that the Property Owner has violated the loan agreements with them, and there is a risk that the lenders may prevail in
any litigation over the alleged violation.
5) Neither the Authority nor the Administrator can advise the Property Owner about any loan agreements with lenders. The Property
Owner's contractual relations with lenders are the Property Owner's sole responsibility.
Section 9. Notice
To the extent required by applicable Law, the Property Owner hereby agrees to provide written notice to any subsequent purchaser of
the Property of the obligation to pay the Assessment pursuant to this Agreement.
Section 10. Waivers, Acknowledgement and Agreement
Attachment 2
This Agreement reflects the Property Owner's free and willing consent to the imposition of the Assessment. The Property Owner
hereby waives any otherwise applicable requirements of Article XIIID of the California Constitution or any other provision of California
law for an engineer's report, notice, public hearing, protest or ballot. The Property Owner hereby waives its right to repeal the
Assessment by initiative or any other action, or to file any lawsuit or other proceeding to challenge the Assessment or any aspect of
the proceedings of the Authority or the Program Administrator undertaken in connection with the Program. The Property Owner
hereby agrees that the Property Owner and its successors in interest to fee title in the Property shall be solely responsible for the
installation, operation and maintenance of the Final Improvements. The Property Owner hereby acknowledges that the Property
Owner will be responsible for payment of the Assessment regardless of whether the Final Improvements are properly installed,
operated, maintained or perform as expected.
THE PROPERTY OWNER HEREBY AGREES THAT THE AUTHORITY IS ENTERING INTO THIS AGREEMENT SOLELY FOR
THE PURPOSE OF ASSISTING THE PROPERTY OWNER WITH THE FINANCING OR REFINANCING OF THE INSTALLATION
OF THE QUALIFYING IMPROVEMENTS, AND THAT THE AUTHORITY HAS NO RESPONSIBILITY OF ANY KIND FOR, AND
SHALL HAVE NO LIABILITY ARISING OUT OF, THE INSTALLATION, OPERATION, FINANCING, REFINANCING,
MAINTENANCE OR PERFORMANCE OF THE QUALIFYING IMPROVEMENTS.
BASED UPON THE FOREGOING, THE PROPERTY OWNER HEREBY WAIVES THE RIGHT TO RECOVER FROM AND FULLY
AND IRREVOCABLY RELEASES THE AUTHORITY AND THE ADMINISTRATOR AND ANY AND ALL AGENTS, EMPLOYEES,
BOARD MEMBERS, ATTORNEYS, REPRESENTATIVES AND SUCCESSORS AND ASSIGNS OF THE AUTHORITY AND THE
ADMINISTRATOR, FROM ANY AND ALL LOSSES, LIABILITIES, CLAIMS, DAMAGES (INCLUDING CONSEQUENTIAL
DAMAGES), PENALTIES, FINES, FORFEITURES, COSTS AND EXPENSES (INCLUDING ALL REASONABLE OUT-OF-POCKET
LITIGATION COSTS AND REASONABLE ATTORNEY'S FEES), RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT
THAT THE PROPERTY OWNER MAY NOW HAVE OR HEREAFTER ACQUIRE AGAINST THE AUTHORITY OR THE
ADMINISTRATOR AND ANY AND ALL AGENTS, EMPLOYEES, BOARD MEMBERS, ATTORNEYS, REPRESENTATIVES AND
SUCCESSORS AND ASSIGNS OF THE AUTHORITY OR THE ADMINISTRATOR.
TO THE EXTENT THAT THE FOREGOING WAIVERS AND AGREEMENTS ARE SUBJECT TO SECTION 1542 OF THE
CALIFORNIA CIVIL CODE OR SIMILAR PROVISIONS OF OTHER APPLICABLE LAW, IT IS THE INTENTION OF THE
PROPERTY OWNER THAT THE FOREGOING WAIVERS AND AGREEMENTS WILL BE EFFECTIVE AS A BAR TO ANY AND
ALL LOSSES, LIABILITIES, CLAIMS, DAMAGES (INCLUDING CONSEQUENTIAL DAMAGES), PENALTIES, FINES,
FORFEITURES, COSTS AND EXPENSES (INCLUDING ALL REASONABLE OUT-OF-POCKET LITIGATION COSTS AND
REASONABLE ATTORNEY'S FEES), OF WHATEVER CHARACTER, NATURE AND KIND, KNOWN OR UNKNOWN,
SUSPECTED OR UNSUSPECTED, AND PROPERTY OWNER AGREES TO WAIVE ANY AND ALL RIGHTS AND BENEFITS
CONFERRED UPON THE PROPERTY OWNER BY THE PROVISIONS OF SECTION 1542 OF THE CALIFORNIA CIVIL CODE.
SECTION 1542 READS AS FOLLOWS:
"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF
KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
DEBTOR."
BY INITIALING BELOW, PROPERTY OWNER HEREBY WAIVES THE PROVISIONS OF SECTION 1542 SOLELY IN
CONNECTION WITH THE MATTERS WHICH ARE THE SUBJECT OF THE FOREGOING WAIVERS AND RELAEASES.
Property Owner's Initials:
The waivers, releases and agreements set forth in this Section 10 shall survive termination of this Agreement.
Section 11. Indemnification
THE PROPERTY OWNER AGREES TO INDEMNIFY, DEFEND, PROTECT, AND HOLD HARMLESS THE AUTHORITY AND THE
ADMINISTRATOR AND ANY AND ALL AGENTS, EMPLOYEES, BOARD MEMBERS, ATTORNEYS, REPRESENTATIVES AND
SUCCESSORS AND ASSIGNS OF THE AUTHORITY AND THE ADMINISTRATOR, FROM AND AGAINST ALL LOSSES,
LIABILITIES, CLAIMS, DAMAGES (INCLUDING CONSEQUENTIAL DAMAGES), PENALTIES, FINES, FORFEITURES, COSTS
AND EXPENSES (INCLUDING ALL REASONABLE OUT-OF-POCKET LITIGATION COSTS AND REASONABLE ATTORNEY'S
FEES) AND ANY DEMANDS OF ANY NATURE WHATSOEVER RELATED DIRECTLY OR INDIRECTLY TO, OR ARISING OUT
OF OR IN CONNECTION WITH (I) THE ASSESSMENT, (II) THE FINANCING BY OR ON BEHALF OF THE AUTHORITY OF THE
FINAL IMPROVEMENTS, (III) THE FINAL IMPROVEMENTS, OR (IV) ANY OTHER FACT, CIRCUMSTANCE OR EVENT
RELATED TO THE SUBJECT MATTER OF THIS AGREEMENT, REGARDLESS OF WHETHER SUCH LOSSES, LIABILITIES,
CLAIMS, DAMAGES (INCLUDING CONSEQUENTIAL DAMAGES), PENALTIES, FINES, FORFEITURES, COSTS AND
EXPENSES (INCLUDING ALL REASONABLE OUT-OF-POCKET LITIGATION COSTS AND REASONABLE ATTORNEY'S FEES)
ACCRUE BEFORE OR AFTER THE DATE OF THIS AGREEMENT.
The provisions of this Section 11 shall survive the termination of this Agreement.
Section 12. No Representation by Authority or Administrator as to Suitability or Effectiveness of Final Improvements
THE PROPERTY OWNER HEREBY ACKNOWLEDGES THAT IT HAS DONE ITS OWN INVESTIGATION AND ANALYSIS OF
THE SUITABILITY OF THE FINAL IMPROVEMENTS FOR THE PROPERTY AND THE POTENTIAL COST SAVINGS AND
ENVIRONMENTAL IMPACT OF THE FINAL IMPROVEMENTS. NEITHER THE AUTHORITY NOR THE ADMINISTRATOR
REPRESENTS OR GUARANTEES (A) THAT THE FINAL IMPROVEMENTS ARE SUITABLE FOR THEIR INTENDED PURPOSES,
(B) THAT THE FINAL IMPROVEMENTS WILL RESULT IN ENERGY SAVINGS OR OTHER COST SAVINGS TO THE PROPERTY
OWNER OR (C) THE ECONOMIC VALUE OR THE ENVIRONMENTAL IMPACT OF THE FINAL IMPROVEMENTS. IN
PARTICULAR, NEITHER THE AUTHORITY NOR THE ADMINISTRATOR REPRESENTS OR GUARANTEES THAT UTILITY
COMPANIES WILL NOT RAISE THEIR RATES IN THE FUTURE AND THEREBY OFFSET ALL OR A PORTION OF THE
PROPERTY OWNER'S PROJECTED SAVINGS AS A RESULT OF MAKING THE FINAL IMPROVMENTS NOR THAT THE
INSTALLATION OF THE FINAL IMPROVEMENTS WILL RESULT IN ANY INCREASE IN THE VALUE OF THE PROPERTY. THE
Attachment 2
PROPERTY OWNER HEREBY ACKNOWLEDGES AND AGREES THAT THE AUTHORITY AND THE ADMINISTRATOR ARE
MERELY ASSISTING THE PROPERTY OWNER BY PROVIDING A FINANCING MECHANISM FOR THE FINAL IMPROVEMENTS
AND HAVE NO ROLE IN DETERMINING THE ECONOMIC, FINANCIAL OR ENVIRONMENTAL VALUE OR IMPACT OF THE
FINAL IMPROVEMENTS. THE PROPERTY OWNER HEREBY AGREES THAT THE WAIVERS IN SECTION 10 AND THE
INDEMNIFICATION PROVISIONS IN SECTION 11 APPLY SPECIFICALLY TO, AMONG OTHER THINGS, THE MATTERS
REFERRED TO IN THIS SECTION 12.
Section 13. Right to Inspect Property
The Property Owner hereby grants the Authority and the Administrator, their agents and representatives the right to enter at any
reasonable time, upon reasonable notice, to inspect the Final Improvements. The Property Owner further hereby grants the Authority
and the Administrator, their agents and representatives the right to examine and copy any documentation relating to the Final
Improvements.
Section 14. Carbon Credits
The Property Owner agrees, upon direction of the Program Administrator, to transfer any carbon credits, renewable -energy credits,
solar -renewable -energy credits, offsets, or other tradable environmental certificate or permit attributable to the Final Improvements
(collectively, "Carbon Credits") to the Authority; following which, such Carbon Credits will be owned by the Authority. Should
installation of the Final Improvements qualify for a monetary incentive or rebate program that requires transfer of Carbon Credits to
the provider of the monetary incentive or rebate, then the Authority shall waive its rights to the transfer of the Carbon Credits to it by
the Property Owner in conjunction with the provision of the monetary incentive or rebate to the Property Owner.
Section 15. Program Application
The Property Owner hereby represents and warrants to the Authority that the information set forth in the program application (the
"Program Application") submitted to the Administrator in connection with its request for financing is true and correct as of the date
hereof, and that the representations set forth in the Program Application with respect to the Property and the Property Owner are true
and correct as of the date hereof as if made on the date hereof.
Section 16. Amendment
This Agreement may be modified only by the written agreement of the Authority and the Property Owner.
Section 17. Binding Effect; Assignment
This Agreement inures to the benefit of and is binding upon the Authority, the Property Owner and their respective successors and
assigns.
The Authority has the right to assign or delegate to any person or entity (whether by way of sale, pledge, grant of security interest, or
otherwise) this Agreement and any or all of its rights (including rights to payment, the Assessment, the Assessment lien, the right to
pursue judicial foreclosure of the Assessment lien, and the right to enforce the collection of the Assessment or any installment thereof
against the Property) and obligations under this Agreement, without the consent of the Property Owner. Any such delegation of
obligations by the Authority shall release the Authority from such obligations to the extent stated in such delegation, without the need
for any consent of the Property Owner. The obligation to pay the Assessment set forth in this Agreement and in the Addendum is an
obligation of the Property and no agreement or action of the Property Owner will serve to impair in any way the Authority's rights,
including, but not limited to, the right to pursue judicial foreclosure of the Assessment lien or the right to enforce the collection of the
Assessment or any installment thereof against the Property.
Section 18. s.
The Exhibits to this Agreement are incorporated into this Agreement by this reference as if set forth in their entirety in this Agreement.
Section 19. Severability
If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, such holding will not
invalidate or render unenforceable any other provision of this Agreement.
Section 20. Corrective Instruments
The Authority and the Property Owner agree that they will, from time to time, execute, acknowledge and deliver, or cause to be
executed, acknowledged and delivered, such supplements hereto and such further instruments, including the Addendum, as may
reasonably be required in order to carry out the expressed intention of this Agreement.
Section 21. Governing Law; Venue
This Agreement is governed by and construed in accordance with the laws of the State of California. Any legal action brought under
this Agreement must be instituted in the Superior Court of California, County of Sacramento; provided, however, that actions to
foreclose delinquent installments of the Assessment will be filed and maintained in the Superior Court of California in the County in
which the Property is located.
Section 22. Counterparts
This Agreement may be executed in several counterparts, each of which is an original and all of which constitutes one and the same
instrument.
IN WITNESS WHEREOF, the Authority and the Property Owner have caused this Agreement to be executed in their respective
names by their duly authorized representatives, all as of the date first above written.
Attachment 2
(SIGNATURE PAGES FOLLOW
PROPERTY OWNER NO. 1
First Name:
Middle:
Last Name:
Mailing Address:
City:
State:
Zip Code:
Attachment 2
Trust:
Legal Entity:
IMPORTANT SIGNATURE INSTRUCTIONS: PLEASE SIGN YOUR NAME EXACTLY AS SHOWN ABOVE IN THE NAME FIELDS.
IF YOU ARE A TRUSTEE, PLEASE INCLUDE THE TITLE "TRUSTEE" AFTER YOUR SIGNATURE. EXAMPLE: John M. Smith,
Trustee
PROPERTY OWNER NO. 1 SIGNATURE
DATE
Print Name & Title
of Authorized Person:
STATE OF CALIFORNIA
COUNTY OF
)SS
The foregoing instrument was acknowledged before me this ...day of
, 20............. ., by
, who is/are
personally known to me or who
has/have produced as identification.
[ SEAL ]
Notary Public, State of California
PROPERTY OWNER NO. 2
First Name:
Middle:
Last Name:
Mailing Address:
Attachment 2
City:
State: ' Zip Code:
Trust:
Legal Entity:
IMPORTANT SIGNATURE INSTRUCTIONS: PLEASE SIGN YOUR NAME EXACTLY AS SHOWN ABOVE IN THE NAME FIELDS.
IF YOU ARE A TRUSTEE, PLEASE INCLUDE THE TITLE "TRUSTEE" AFTER YOUR SIGNATURE. EXAMPLE: John M. Smith,
Trustee
PROPERTY OWNER NO. 2 SIGNATURE
DATE
Print Name & Title
of Authorized Person:
STATE OF CALIFORNIA )
)SS
COUNTY OF )
The foregoing instrument was acknowledged before me this day of
, 20 , by
, who is/are
personally known to me or who
has/have produced as identification.
[ SEAL ]
PROPERTY OWNER NO. 3
First Name:
Mailing Address:
Notary Public, State of California
Middle:
Last Name:
Attachment 2
City:
State:
Zip Code:
Trust:
Legal Entity:
IMPORTANT SIGNATURE INSTRUCTIONS: PLEASE SIGN YOUR NAME EXACTLY AS SHOWN ABOVE IN THE NAME FIELDS.
IF YOU ARE A TRUSTEE, PLEASE INCLUDE THE TITLE "TRUSTEE" AFTER YOUR SIGNATURE. EXAMPLE: John M. Smith,
Trustee
PROPERTY OWNER NO. 3 SIGNATURE
DATE
Print Name & Title
of Authorized Person:
STATE OF CALIFORNIA )
)SS
COUNTY OF )
The foregoing instrument was acknowledged before me this......:.. .. day of
,20. ,by
, who is/are
personally known to me or who
has/have produced as identification.
[ SEAL ]
PROPERTY OWNER NO. 4
Notary Public, State of California
First Name:
Mailing Address:
Middle:
Last Name:
Attachment 2
City:
State:
Zip Code:
Trust:
Legal Entity:
IMPORTANT SIGNATURE INSTRUCTIONS: PLEASE SIGN YOUR NAME EXACTLY AS SHOWN ABOVE IN THE NAME FIELDS.
IF YOU ARE A TRUSTEE, PLEASE INCLUDE THE TITLE "TRUSTEE" AFTER YOUR SIGNATURE. EXAMPLE: John M. Smith,
Trustee
Print Name & Title
of Authorized Person:
STATE OF CALIFORNIA
)SS
COUNTY OF )
PROPERTY OWNER NO. 4 SIGNATURE
DATE
The foregoing instrument was acknowledged before me this ..day of
., 20
9
by
, who is/are
personally known to me or who
has/have produced as identification.
[ SEAL ]
CALIFORNIA HOME FINANCE AUTHORITY
Notary Public, State of California
Signature of Authorized Person:
Attachment 2
Print Name and Title of Authorized Person:
Date:
STATE OF CALIFORNIA
COUNTY OF
)SS
The foregoing instrument was acknowledged before me this.......... .day of
,20 .. __ ,...,by
, who is/are
personally known to me or who
has/have produced as identification.
[ SEAL ]
Notary Public, State of California
EXHIBIT A TO ASSESSMENT CONTRACT
DESCRIPTION OF ESTIMATED COSTS AND TERMS OF FINANCING
Attachment 2
INTEREST RATE:
pia
REPAYMENT TERM: years
PREPAYMENT PREMIUM: %u INTEREST RATE LOCK PERIOD: 90 days from the effective date of this Financing Agreement
Note: If you do not complete your project and request funding during the Rate Lock Period your Interest Rate may increase.
Eligible Project Funding
Estimated Capitalized Interest
Estimated Program Fees
Estimated Financing
Estimated Annual Special
Assessment*
MAXIMIUM AUTHORIZED PROPOSED PROJECT
$ $
$ $
$ $
$ $
$ $
*NOTE: Collection fees may be added to the final assessment amount. These fees vary and are based on changes in the Tax Collector's fees schedules and policies.
Ask the program administrator for the current collection fees being charged.
TRUST:
LEGAL ENTITY:
SIGNATURE
PROPERTY OWNER NO. 1
LEGAL ENTITY:
SIGNATURE
PROPERTY OWNER NC).
NAME:
NAME:
TRUST:
LEGAL ENTITY:
TRUST:
LEGAL ENTITY:
SIGNATURE
SIGNATURE
NAME:
NAME:
Attachment 3
CALIFORNIA HOME FINANCE AUTHORITY
RESOLUTION NO. 2014-05
RESOLUTION OF THE BOARD OF THE CALIFORNIA HOME FINANCE
AUTHORITY DECLARING ITS INTENTION TO FINANCE DISTRIBUTED
GENERATION RENEWABLE ENERGY SOURCES AND ENERGY
EFFICIENCY IMPROVEMENTS THROUGH THE USE OF VOLUNTARY
CONTRACTUAL ASSESSMENTS PURSUANT TO CHAPTER 29 OF PART 3
OF DIVISION 7 OF THE CALIFORNIA STREETS AND HIGHWAYS CODE
AND SETTING A PUBLIC HEARING THEREON
WHEREAS, pursuant to Chapter 29 of Part 3 of Division 7 of the California Streets and
Highways Code (the "Act"), the Board of the California Home Finance Authority ("CHF")
proposes to establish a voluntary contractual assessment program to assist property owners with
the cost of installing distributed generation renewable energy sources or making energy or water
efficiency improvements that are permanently fixed to their property ("Program"); and
WHEREAS, in the opinion of the California Home Finance Authority, property in the
unincorporated and incorporated areas within the Authority membership (Full and/or Associate
Member Counties) would be benefitted by including such properties in the Program, subject to the
approval and consent of the governing body of the county or city, as applicable;
NOW THEREFORE, THE BOARD OF THE CALIFORNIA HOME FINANCE
AUTHORITY HEREBY RESOLVES AS FOLLOWS:
Section 1. The CHF Board hereby finds and declares as follows:
a. All of the above recitals are true and correct.
b. Energy conservation efforts, including the promotion of energy and water efficiency
improvements to residential, commercial, industrial, or other real property, are necessary and
beneficial;
c. The upfront cost of making residential, commercial, industrial or other real property
more energy efficient prevents many property owners from making those improvements. To make
those improvements more affordable and to promote the installation of those improvements, the
Legislature has authorized an alternative procedure pursuant to the Act for authorizing voluntary
contractual assessment to finance the cost of such improvements;
d. It would be convenient, advantageous and in the public interest to implement a program
whereby CHF is authorized to finance the installation of distributed generation renewable energy
sources and energy efficiency improvements that are permanently fixed to residential, commercial,
industrial and other real property.
e. Property located in the unincorporated and incorporated areas within the boundaries
of the CHF Members and Associate Members will benefit from inclusion in the program, and
subject to the approval and consent of the governing body of any participating county or city,
82671.00001 \92 64009.1
Attachment 3
including such property in the program will serve the public purpose of promoting conservation
efforts.
Section 2. The Board of Directors hereby determines that it would be convenient,
advantageous and in the public interest to designate the entire Membership (Full and Associate
Member Counties), unincorporated and incorporated, as an area within which authorized Authority
officials and property owners may enter into contractual assessments pursuant to the Act to finance
the installation of authorized improvements that are permanently fixed to real property.
Section 3. The Board of Directors hereby declares that financing the proposed distributed
generation renewable energy sources and energy efficiency improvements in both the
unincorporated and incorporated areas of the CHF Members and Associate Members can best be
accomplished by a single, comprehensive program. Therefore, CHF proposes to make contractual
assessment financing available to the owners of property in the Authority Membership,
unincorporated and incorporated, to finance authorized improvements that are permanently fixed
to real property.
Section 4. The Executive Director (the "Authorized Officer") shall prepare or direct the
preparation of, as part of the report required in Section 8 of this Resolution, and update, as the
Authorized Officer deems necessary, a list of the distributed generation renewable energy sources
or energy efficiency improvements that may be financed through the Authority's contractual
assessment financing program. The types of distributed generation renewable energy sources or
energy efficiency improvements eligible for financing through contractual assessments will be
included in the report required in Section 8 of this Resolution, and include, but are not limited to,
high efficiency air conditioning and ventilation systems, high performance windows, high
efficiency and tankless water heating equipment photovoltaic and thermal solar energy systems,
cool roof systems, geothermal exchange heat pumps, zoning control and energy management
control systems, high efficiency irrigation pumps and controls, natural gas fuel cells, wind and
geothermal energy systems, wall, ceiling and roof insulation upgrades, and electric vehicle
charging infrastructure.
Section 5. The area within which contractual assessments may be entered into pursuant to
the Act is all land within the defined boundaries of the Authority Members and Associate
Members.
Section 6. No contractual assessment will be levied on a parcel situated within any area
and no assessment contract will be entered into with the owner(s) of any such parcel unless and
until (1) the legislative body of the respective county or city has adopted a resolution consenting to
inclusion of parcels within its jurisdiction in the contractual assessment program and authorizing
CHF to levy assessments, to impose the contractual assessment liens and to finance the eligible
improvement on such parcels; and (2) the legislative body of such county or city has entered into
an agreement with the Authority addressing issues such as liability for loss, and any conditions the
county or city wishes to impose on participating properties in its jurisdiction.
Section 7. The proposed arrangements for financing the contractual assessment financing
program are briefly described as follows: The Authority or its contracted Third Party
Administrator may issue, or cause to be issued, bonds, notes, receive lines of credit, and enter into
82671.00001\9264009.1
Attachment 3
other financing instruments or relationships pursuant to the Act, the principal and interest of which
would be repaid by contractual assessments. Alternatively or in the interim, the Authority may
enter into agreements with other public entities, including but not limited to the jurisdictions within
the Authority Membership, to advance their funds to the Authority to finance work. Such advances
shall be repaid through contractual assessments and the Authority may sell, or cause to be sold,
bonds or other forms of indebtedness to reimburse such advances.
In the event improvement bonds will be issued pursuant to Streets and Highways Code
Section 5898.28 to represent assessments, all of the following will apply to the extent not in
conflict with the Act:
(a) Provision is hereby made for the issuance of improvement bonds, in one or more series;
(b) Notice is hereby given that serial bonds or term bonds or both to represent unpaid
assessments, and to bear interest at a rate authorized by law; payable semiannually, shall be
issued hereunder in one or more series in the manner provided by the Division 10 (to the
extent not in conflict with the Act), and the last installment of bonds shall mature a
maximum of 39 years from the second day of September next succeeding 12 months from
their date.
(c) The Authority hereby determines that the principal amount of bonds maturing or
becoming subject to mandatory prior redemption each year shall be other than an amount
equal to an even annual proportion of the aggregate principal amount of the bonds, and the
amount of principal maturing or becoming subject to mandatory prior redemption in each
year plus the amount of interest payable in that year shall not be an aggregate amount that
is substantially equal each year, except for the moneys falling due on the first maturity or
mandatory prior redemption date of the bonds which shall be adjusted to reflect the amount
of interest earned from the date when the bonds bear interest to the date when the first
interest is payable on the bonds.
(d) With respect to the procedures for collection of assessments and the advance retirement
of bonds, the Authority proposes to proceed under the provisions of part 11.1 of Division
10 (commencing with Section 8760 of the Streets and Highways Code).
Section 8. The Board of Directors hereby directs the Authorized Officer to prepare, or
direct the preparation of, and file with the Secretary a report pursuant to Section 5898.22 of the
California Streets and Highways Code at or before the time of the public hearing described in
Section 9 hereof (the "Report"). The Report shall contain all of the following:
(a) A map showing the boundaries of the territory within which contractual assessments are
proposed to be offered.
(b) A draft contract specifying the terms and conditions that would be agreed to by a
property owner within the contractual assessment area and the Authority.
82671.00001 \9264009.1
Attachment 3
(c) A statement of Authority policies concerning contractual assessments including all of
the following:
(i) Identification of types of facilities, distributed generation renewable energy
sources, or energy efficiency improvements that may be financed through the use of
contractual assessments;
(ii) Identification of an Authority official authorized to enter into contractual
assessments on behalf of the Authority;
(iii) A maximum aggregate dollar amount of contractual assessments;
(iv) A method of settling requests from property owners for financing through
contractual assessments in priority order in the event that requests appear likely to
exceed the authorization amount;
(v) Parameters for extending the Program into unincorporated and incorporated
areas
(d) A plan for raising a capital amount required to pay for work performed pursuant to
contractual assessments. The plan may include amounts to be advanced by the Authority
through funds available to it from any source. The plan may include the sale of a bond or
bonds or other financing relationship pursuant to Streets and Highways Code Section
5898.28. The plan shall include a statement of or method for determining the interest rate
and time period during which contracting property owners would pay any assessment. The
plan shall provide for any reserve fund or funds. The plan shall provide for the
apportionment of all or any portion of the costs incidental to financing, administration, and
collection of the contractual assessment program among the consenting property owners
and the Authority.
(e) A report on the results of the consultations with the county auditors or county
controllers concerning the additional fees, if any, that will be charged for incorporating the
proposed voluntary contractual assessments into the assessments of the general taxes of the
city or county on real property, and a plan for financing the payment of those fees.
Section 9. The Board of Directors hereby calls a public hearing to be held on December
10, 2014 at 8:30 a.m., or as soon thereafter as feasible, in the Board Room, 1215 K Street, Suite
1650, Sacramento, CA 95814, on the proposed Report and the contractual assessment financing
program. At the public hearing all interested persons may appear and hear and be heard and object
to or inquire about the proposed contractual assessment financing program or any of its particulars.
Section 10. The Executive Director of the Authority is hereby directed to provide notice of
the public hearing by publishing once a week for two weeks, pursuant to Section 6066 of the
California Government Code, in a newspaper of general circulation published in each county and
city that is a Member or Associate Member of CHF, and the first publication shall not occur later
than 20 days before the date of such hearing.
82671.00001 \9264009.1
Attachment 3
Section 11. The assessments levied pursuant to the Act, and the interest and any penalties
thereon, shall constitute a lien against the lots and parcels of land on which they are made, until
they are paid. The assessments shall be collected in the same manner and at the same time as the
general taxes of the enforcing jurisdiction on real property are payable and shall be subject to the
same penalties, remedies and lien priorities in the event of delinquency and default. As a
cumulative remedy, if any assessment or installment thereof, or of any interest thereon, together
with any penalties, costs, fees, and other accrued charges are not paid when due, the Board of
Directors may order that the same be collected by an action brought in superior court to foreclose
the lien thereof as provided in Division 10 of the California Streets and Highways Code.
Section 12. The Board of Directors hereby directs the Authorized Officer to determine and
discuss in the report what additional fees, if any, will be charged, annually, by the enforcing
jurisdiction for incorporating the proposed contractual assessments on the tax roll.
ON A MOTION BY Supervisor Kim Dolbow Vann, Colusa County, seconded by
Supervisor Debra Chapman, Trinity County, the foregoing resolution was passed and adopted by
the Board of Directors of the California Home Finance Authority this 26th day of September,
2014, by the following vote:
AYES: Supervisor Mary Rawson, Alpine County; Supervisor Richard Forster, Amador County;
Supervisor Doug Teeter, Butte County; Supervisor Merita Callaway, Calaveras County;
Supervisor Kim Dolbow Vann, Colusa County; Supervisor John Viegas, Glenn County; Supervisor
Linda Arcularius, Inyo County; Supervisor Anthony Farrington, Lake County; Supervisor Aaron
Albaugh, Lassen County; Supervisor David Rogers, Madera County; Supervisor Kevin Cann,
Mariposa County; Supervisor Carre Brown, Mendocino County; Supervisor Geri Byrne, Modoc
County; Supervisor Tim Fesko, Mono County; Supervisor Diane Dillon, Napa County; Supervisor
Nate Beason, Nevada County; Supervisor Terry Swofford, Plumas County; Supervisor Lee
Adams, Sierra County; Supervisor Larry Munger, Sutter County; Supervisor Bob Williams,
Tehama County; Supervisor Debra Chapman, Trinity County; Supervisor Jerry Muenzer, San
Benito County; Supervisor Randy Hanvelt, Tuolumne County; Supervisor Jim Provenza, Yolo
County; Supervisor Roger Abe, Yuba County
NOES: 0
ABSENT: Supervisor David Finigan, Del Norte County; Supervisor Brian Veerkamp, El Dorado
County; Supervisor Rex Bohn, Humboldt County; Supervisor Michael Kelley, Imperial County;
Supervisor Jim Holmes, Placer County; Supervisor Les Baugh, Shasta County; Supervisor Michael
Kobseff, Siskiyou County
ABSTAIN: 0
82671.00001\9264009.1
Attachment 3
Chair of the Board
ATTEST:
CHF Secretary
82671.00001\9264009.1
Attachment 4
INDEMNIFICATION AND INSURANCE AGREEMENT
BY AND BETWEEN
THE CITY OF NATIONAL CITY
AND
YGRENE ENERGY FUND CA, LLC
This Indemnification and Insurance Agreement ("Agreement") is entered into by and
between the City of National City, a municipal corporation ("City") and Ygrene Energy Fund
CA, LLC, a California limited liability company ("Administrator"), the administrator of the
California Home Finance Authority's PACE Program and the California Home Finance
Authority's Community Facilities District No. 2014-1 (Clean Energy).
RECITALS
WHEREAS, the California Home Finance Authority ("Authority") is a joint exercise of
powers authority established pursuant to Chapter 5 of Division 7, Title 1 of the California
Government Code (Section 6500 et. seq.) and the Joint Exercise of Powers Agreement entered
into on July 1, 1993, as amended from time to time ("Authority JPA"); and
WHEREAS, the Authority is in the process of amending the Authority JPA to formally
change its name to the Golden State Finance Authority; and
WHEREAS, the Authority has established a property -assessed clean energy ("PACE")
Program ("Authority PACE Program") to provide for the financing of renewable energy
generation, energy and water efficiency improvements, and electric vehicle charging
infrastructure (the "Improvements") pursuant to Chapter 29 of Division 7 of the California
Streets and Highways Code ("Chapter 29"), within counties and cities throughout the State of
California that elect to participate in the Program; and
WHEREAS, in addition, the Authority has established the Community Facilities District
No. 2014-1(Clean Energy) in accordance with the Mello -Roos Community Facilities Act, set
forth in sections 53311 through 53368.3 of the California Government Code ("Act") and
particularly in accordance with sections 53313.5(1) and 53328.1(a) ("District"); and
WHEREAS, the City Council of the City of National City has approved the City joining
the Authority, has consented to the inclusion in the Authority PACE Program of all of the
properties in the jurisdictional boundaries of the City and to the acquisition, construction, and
installation of the Improvements, upon the request by and voluntary agreement of owners of such
properties, in compliance with the laws, rules and regulations applicable to the Program, and has
consented to the inclusion in Community Facilities District No. 2014-1(Clean Energy) of all of
the properties in the City's jurisdiction and to the construction and installation of the Authorized
Improvements, upon the request of, and execution of the Unanimous Approval Agreement by,
Attachment 4
the owners of such properties when such properties are annexed, in compliance with the laws,
rules and regulations applicable to the District; and
WHEREAS, the Authority and the Administrator have entered into a Third Party
Administration Agreement, dated March 2015, in which the Administrator agrees to administer
the Authority PACE Program and/or Community Facilities District No. 2014-1(Clean Energy)
on behalf of the Authority; and
WHEREAS, the Administrator agrees to indemnify the City and to provide insurance in
connection with the administration of the Authority PACE Program and/or Community Facilities
District No. 2014-1(Clean Energy) in the City of National City.
NOW, THERFORE, in consideration of the Recitals above and of the City's agreement
to join the Authority and to participate in the Authority's PACE Program and/or Community
Facilities District No. 2014-1(Clean Energy), the parties agree as follows:
1. Agreement to Indemnify. The Administrator agrees to defend, indemnify, and
hold harmless the City, its officers, elected or appointed officials, employees, agents, and
volunteers from and against any and all claims, damages, losses, expenses, fines, penalties,
judgments, demands, and defense costs (including, without limitation, actual, direct, out-of-
pocket costs and expenses, and amounts paid in compromise or settlement and reasonable
outside legal fees arising from litigation of every nature or liability of any kind or nature
including civil, criminal, administrative or investigative) arising out of or in connection with the
Authority's PACE Program or Community Facilities District No. 2014-1 (Clean Energy), except
such loss or damage which was caused by the sole negligence or willful misconduct of the City.
The Administrator will conduct all defenses at its sole cost and expense, and the City shall
reasonably approve selection of the Administrator's counsel. This indemnity shall apply to all
claims and liability regardless of whether any insurance policies of the Administrator, its
affiliates or any other parties are applicable thereto. The policy limits of any insurance of the
Administrator, its affiliates or other parties are not a limitation upon the obligation of the
Administrator, including without limitation, the amount of indemnification to be provided by the
Administrator. The provisions of this section shall survive the termination of this Agreement.
2. Insurance. The Administrator agrees that, at no cost or expense to the City, at all
times during the administration of the Authority's PACE Program and Community Facilities
District No. 2014-1 (Clean Energy), to maintain the insurance coverage set forth in Exhibit "A"
to this Agreement.
3. Amendment/Interpretation of this Agreement. This Agreement, including all
Exhibits attached hereto, represents the entire understanding of the parties as to those matters
contained herein. No prior oral or written understanding shall be of any force or effect with
respect to those matters covered hereunder. No supplement, modification, or amendment of this
Indemnification insurance Agreement 2 City of National City and
2015 Ygrene Energy Fund CA, LLC
Attachment 4
Agreement shall be binding unless executed in writing by both parties hereto. This Agreement
shall not be interpreted for or against any party by reason of the fact that such party may have
drafted this Agreement or any of its provisions.
4. Section Headings. Section headings in this Agreement are included for
convenience of reference only and shall not constitute a part of this Agreement for any other
purpose.
5. Waiver. No waiver of any of the provisions of this Agreement shall be binding
unless in the form of a writing signed by the party against whom enforcement is sought, and no
such waiver shall operate as a waiver of any other provisions hereof (whether or not similar), nor
shall such waiver constitute a continuing waiver. Except as specifically provided herein, no
failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a
waiver thereof.
6. Severability and Governing Law. If any provision or portion thereof of this
Agreement shall be held by a court of competent jurisdiction to be invalid, void, or otherwise
unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted
by law. This Agreement shall be governed by and construed and enforced in accordance with
the laws of the State of California applicable to contracts made and to be performed in
California.
7. Notices. All notices, demands and other communications required or permitted
hereunder shall be made in writing and shall be deemed to have been duly given if delivered by
hand, against receipt, or mailed certified or registered mail and addressed as follows:
If to the Administrator: Bart Van Voorhis
Senior Vice President, Corporate Development
Ygrene Energy Fund CA, LLC
815 5th Street, Suite 100
Santa Rosa, CA 95404
If to the City:
Indemnification Insurance Agreement
Alfredo Ibarra
Director, Housing, Grants, and Asset Management
City of National City
1243 National City Boulevard
National City, CA 91950-4301
3 City or National City and
2015 Ygrene Energy Fund CA, LLC
Attachment 4
8. Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed to be an original, which together shall constitute the same instrument.
9. Effective Date. This Agreement will be effective as of the date of the signature of
City's representative as indicated below in the City's signature block.
IN WITNESS HEREOF, the parties hereto duly executed this Agreement as of the date
below.
CITY ADMINISTRATOR
CITY OF NATIONAL CITY
By:
Ron Morrison, Mayor
Date:
APPROVED AS TO FORM:
Claudia Silva
City Attorney
YGRENE EN $GY FUND CA, LLC
wson, President/CEO
Date: 2(11 1 !S
Indemnification insurance Agreement 4 City of National City and
2015 Ygrene Energy Fund CA, LLC
Attachment 4
INSURANCE
A. Minimum Scope of Insurance
Coverage shall be at least as broad as:
EXHIBIT A
1. The coverage provided by Insurance Services Office Commercial General
Liability coverage ("occurrence") Form Number CG 0001; and
2. The coverage provided by Insurance Services Office Form Number CA 0001
covering Automobile Liability. Coverage shall be included for all owned, non -
owned and hired automobiles; and
3. Workers' Compensation insurance as required by the California Labor Code and
Employers Liability insurance; and
4. Professional Liability Errors & Omissions for all professional services.
There shall be no endorsement reducing the scope of coverage required above unless approved
by the National City Risk Manager.
B. Minimum Limits of Insurance
Administrator shall maintain limits no less than:
1. Commercial General Liability: $1,000,000 per occurrence for bodily injury,
personal injury and property damage. If Commercial Liability Insurance or other
form with a general aggregate limit is used, either the general aggregate limit shall
apply separately to this project/location or the general aggregate limit shall be
twice the required occurrence limit; and
2. Automobile Liability: $1,000,000 combined single limit per accident for bodily
injury and property damage; and
3. Workers' Compensation and Employers Liability: Workers' Compensation limits
as required by the California Labor Code and Employers Liability limits of
$1,000,000 per accident; and
4. Professional Liability Errors & Omissions $1,000,000 per occurrence/ aggregate
limit.
C. Deductibles and Self -Insured Retentions
Any deductibles or self -insured retentions must be declared to, and approved by the National
City Risk Manager. At the option of City, either: the insurer shall reduce or eliminate such
deductibles or self -insured retentions as respects City, its officers, employees, agents and
Indemnification Insurance Agiccuient
5 City of National City and
2015 Ygrene Energy Fund CA, LLC
Attachment 4
contractors; or Administrator shall procure a bond guaranteeing payment of losses and related
investigations, claim administration and defense expenses in an amount specified by the National
City Risk Manager.
D. Other Insurance Provisions
The policies are to contain, or be endorsed to contain, the following provisions:
1. Commercial General Liability and Automobile Liability Coverages.
a. National City, its officers, employees, agents, and contractors are to be
covered as additional insureds as respects: Liability arising out of
activities performed by or on behalf of Administrator; products and
completed operations of Administrator; premises owned, leased, or used
by Administrator; and automobiles owned, leased, hired or borrowed by
Administrator. The coverage shall contain no special limitations on the
scope of protection afforded to the City, its officers, employees, agents,
and contractors.
b. Administrator's insurance coverage shall be primary insurance as respects
the City, its officers, employees, agents, and contractors. Any insurance
or self-insurance maintained by City, its officers, employees, agents, or
contractors shall be excess of Administrator's insurance and shall not
contribute with it.
c. Any failure to comply with reporting provisions of the policies by
Administrator shall not affect coverage provided to the City, its officers,
employees, agents, or contractors.
d. Coverage shall state that Administrator's insurance shall apply separately
to each insured against whom claim is made or suit is brought, except with
respect to the limits of the insurer's liability.
e. Coverage shall contain a waiver of subrogation in favor of the City, its
officers, employees, agents, and contractors.
2. Workers' Compensation and Employers' Liability.
Coverage shall contain waiver of subrogation in favor of National City, its
officers, employees, agents, and contractors.
3. All Coverages
Each insurance policy required by this AGREEMENT shall be endorsed to state
that coverage shall not be suspended, voided, cancelled, or reduced in limits
except after thirty (30) days' prior written notice has been given to the City,
except that ten (10) days' prior written notice shall apply in the event of
cancellation for nonpayment of premium.
Indemnification Insurance Agreement 6 City of National City and
2015 Ygrene Energy Fund CA, ILC
Attachment 4
E. Acceptability of Insurers.
Insurance is to be placed with insurers acceptable to the National City Risk Manager.
F. Verification of Coverage.
Administrator shall furnish the City with certificates of insurance and with original endorsements
affecting coverage required by this AGREEMENT. The certificates and endorsements for each
insurance policy are to be signed by a person authorized by that insurer to bind coverage on its
behalf.
Pmof of insurance shall be either emailed in pdf format to: eamaya@nationalcityca.gov or
mailed to the following postal address or any subsequent address as may be directed in writing
by the National City Risk Manager:
Risk Manager
City of National City
1243 National City Boulevard
National City, CA 91950-4301
G. Subcontractors
Administrator shall include all subcontractors as insureds under its policies or shall obtain
separate certificates and endorsements for each subcontractor.
Indemnification Insurance Agreement 7 City of National City and
2015 Ygrene Energy Fund CA, LI_C
RESOLUTION NO. 2015 —
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY
CONSENTING TO THE INCLUSION OF PROPERTIES WITHIN
THE CITY OF NATIONAL CITY'S JURISDICTION IN THE CALIFORNIA
HOME FINANCE AUTHORITY'S PACE PROGRAM TO FINANCE RENEWABLE
ENERGY GENERATION, ENERGY AND WATER EFFICIENCY IMPROVEMENTS,
AND ELECTRIC VEHICLE CHARGING INFRASTRUCTURE; AUTHORIZING
THE AUTHORITY TO LEVY ASSESSMENTS, IMPOSE CONTRACTUAL
ASSESSMENT LIENS, AND FINANCE ELIGIBLE IMPROVEMENTS ON
THOSE PROPERTIES; APPROVING MEMBERSHIP IN THE CALIFORNIA
HOME FINANCE AUTHORITY; AND AUTHORIZING THE MAYOR TO
EXECUTE THE INDEMNIFICATION AND INSURANCE AGREEMENT
WITH YGRENE ENERGY FUND CA, LLC
WHEREAS, the California Home Finance Authority ("Authority") is a joint
exercise of powers authority established pursuant to Chapter 5 of Division 7, Title 1 of the
California Government Code (Section 6500 et. seq.) and the Joint Exercise of Powers
Agreement entered into on July 1, 1993, as amended from time to time ("Authority JPA"); and
WHEREAS, the Authority is in the process of amending the Authority JPA to
formally change its name to the Golden State Finance Authority; and
WHEREAS, the Authority has established a property -assessed clean energy
("PACE") Program ("Authority PACE Program") to provide for the financing of renewable energy
generation, energy and water efficiency improvements, and electric vehicle charging
infrastructure (the "Improvements") pursuant to Chapter 29 of Division 7 of the California Streets
and Highways Code ("Chapter 29"), within counties and cities throughout the State of California
that elect to participate in the Program; and
WHEREAS, Chapter 29 authorizes cities and counties to assist property owners
in financing the cost of installing the Improvements through a voluntary contractual assessment
program; and
WHEREAS, the assessments levied pursuant to Chapter 29, and the interest and
any penalties thereon, shalt constitute a lien against the lots and parcels of land on which they
are made, until they are paid; and
WHEREAS, the assessments may be levied under the provisions of Chapter 29
only with the free and willing consent of the owner of each lot or parcel on which an assessment
is levied at the time the assessment is levied; and
WHEREAS, the parameters of the Authority PACE Program are set forth in the
Program Report which has been prepared pursuant to Section 5898.22 of Chapter 29; and
WHEREAS, the City Council of the City of National City has reviewed the
Program Report; and
WHEREAS, the City desires to participate in the Authority PACE Program and
provide for participation in the Authority PACE Program by property owners located within the
City's jurisdiction; and
Resolution No. 2015—
August 4, 2015
Page Two
WHEREAS, in order to participate in the Authority PACE Program, the City
desires to become an Associate Member of the Authority. A copy of the JPA Agreement is
attached to this Resolution as Exhibit "A"; and
WHEREAS, to protect the City in connection with the administration of the
Authority PACE Program, Ygrene Energy Fund CA, LLC, the Program administrator, has
agreed to defend and indemnify the City; and
WHEREAS, the City will not be responsible for the conduct of any assessment
proceedings, the levy and collection of assessments or any required remedial action in the case
of delinquencies in the payment of any assessments or the issuance, sale or administration of
any bonds issued in connection with the Authority PACE Program.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
National City as follows:
1. The City Council approves the City joining the Authority as an Associate member
and authorizes the Mayor to execute the Signature Page for New Associate Members to the
JPA Agreement.
2. The City Council finds and declares that properties in the City's jurisdiction will be
benefited by the availability of the Authority PACE Program to finance the installation of the
Improvements.
3. The City Council consents to inclusion in the Authority PACE Program of all of
the properties in the jurisdictional boundaries of the City and to the acquisition, construction, and
installation of the Improvements, upon the request by and voluntary agreement of owners of
such properties, in compliance with the laws, rules and regulations applicable to the Program.
4. The City Council consents to the assumption of jurisdiction by the Authority for all
purposes of the Authority PACE Program and authorizes the Authority, upon satisfaction of the
conditions imposed in this Resolution, to take each and every step required for, or suitable for,
financing the Improvements, including the levying, collecting and enforcement of the contractual
assessments to finance the Improvements and the issuance and enforcement of bonds to
represent such contractual assessments.
5. The City Council acknowledges that the Authority has prepared, and will update
from time to time, the Program Report pursuant to requirements of Chapter 29, and the
Authority will undertake assessment proceedings and the financing of the Improvements as set
forth in the Program Report.
6. The Authority will administer, or cause the administration of, the Authority PACE
Program at no cost to the City.
7. The Mayor is authorized to execute the Indemnification and Insurance
Agreement with Ygrene Energy Fund CA, LLC.
Resolution No. 2015—
August 4, 2015
Page Three
8. The City will not be responsible for the conduct of any assessment proceedings,
the levy and collection of assessments or any required remedial action in the case of
delinquencies in the payment of any assessments or the issuance, sale or administration of any
bonds issued in connection with the Authority PACE Program.
9. This Resolution shall take effect immediately upon its adoption. The City Clerk is
directed to send a certified copy of this Resolution to the Secretary of the Authority.
PASSED and ADOPTED this 4th day of August, 2015.
Ron Morrison, Mayor
ATTEST:
Michael R. Dalla, City Clerk
APPROVED AS TO FORM:
Claudia Gacitua Silva
City Attorney
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CITY OF NATIONAL CITY
Office of the City Clerk
1243 National City Blvd., National City, California 91950
619-336-4228 phone / 619-336-4229 fax
Michael R. Dalla, CMC - City Clerk
YGRENE ENERGY FUND
Indemnification & Insurance Agreement
Carlos Aguiree (Housing & Grants) Forwarded
Copy of Agreement to Ygrene Energy Fund
CALIFORNIA HOME FINANCE AUTHORITY
AMENDED AND RESTATED JOINT EXERCISE OF POWERS AGREEMENT
(Original date July 1, 1993 and as last amended and restated December 10, 2014)
THIS AMENDED AND RESTATED JOINT EXERCISE OF POWERS AGREEMENT
("Agreement") is entered into by and among the counties listed on Attachment 1 hereof and
incorporated herein by reference. All such counties are referred to herein as "Members" with the
respective powers, privileges and restrictions provided herein.
RECITALS
A. WHEREAS, the California Rural Home Mortgage Finance Authority ("CRHMFA") was
created by a Joint Exercise of Powers Agreement dated July 1, 1993 pursuant to the Joint Exercise
of Powers Act (commencing with Article 1 of Chapter 5 of Division 7 of Title 1 of the
Government Code of the State of California (the "Act"). By Resolution 2003-02, adopted on
January 15, 2003, the name of the authority was changed to CRHMFA Homebuyers Fund. The
most recent amendment to the Joint Exercise of Powers Agreement was on January 28, 2004.
B. WHEREAS, the Members of CRHMFA Homebuyers Fund desire to update, reaffirm,
clarify and revise certain provisions of the joint powers agreement, including the renaming of the
joint powers authority, as set forth herein.
C. WHEREAS, the Members are each empowered by law to finance the construction,
acquisition, improvement and rehabilitation of real property.
D. WHEREAS, by this Agreement, the Members desire to create and establish a joint powers
authority to exercise their respective powers for the purpose of financing the construction,
acquisition, improvement and rehabilitation of real property within the jurisdiction of the Authority
as authorized by the Act.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Members
individually and collectively agree as follows:
1. Definitions
Unless the context otherwise requires, the following terms shall for purposes of this
Agreement have the meanings specified below:
"Act" means the Joint Exercise of Powers Act, commencing with Article 1 of Chapter 5 of
Division 7 of Title 1 of the Government Code of the State of California, including the Marks -Roos
Local Bond Pooling Act of 1985, as amended.
"Agreement" means this Joint Exercise of Powers Agreement, as the same now exists or as it
may from time to time be amended as provided herein.
"Associate Member" means a county, city or other public agency which is not a voting
member of the Rural County Representatives of California, a California nonprofit corporation
("RCRC"), with legal power and authority similar to that of the Members, admitted pursuant to
paragraph 4.d. below to associate membership herein by vote of the Board.
"Audit Committee" means a committee made up of the nine -member Executive
Committee.
"Authority" means California Home Finance Authority ("CHF"), formerly known as
CRHMFA Homebuyers Fund or California Rural Home Mortgage Finance Authority.
"Board" means the governing board of the Authority as described in Section 7 below.
"Bonds" means bonds, notes, warrants, leases, certificates of participation, installment
purchase agreements, loan agreements and other securities or obligations issued by the Authority,
or financing agreements entered into by the Authority pursuant to the Act and any other obligation
within the meaning of the term "Bonds" under the Act.
"Delegate" means the Supervisor designated by the governing board of each Member to
serve on the Board of the Authority.
"Executive Committee" means the nine -member Executive Committee of the Board
established pursuant to Section 10 hereof.
"Member" means any county which is a member of RCRC, has executed this Agreement
and has become a member of the Authority.
"Obligations" means bonds, notes, warrants, leases, certificates of participation, installment
purchase agreements, loan agreements and other securities or obligations issued by the Authority,
or financing agreements entered into by the Authority pursuant to the Act and any other financial
or legal obligation of the Authority under the Act.
"Program" or "Project" means any work, improvement, program, project or service
undertaken by the Authority.
"Rural County Representatives of California" or "RCRC" means the nonprofit entity
incorporated under that name in the State of California.
"Supervisor" means an elected County Supervisor from an RCRC member county.
2. Purpose
The purpose of the Authority is to provide financing for the acquisition, construction, ,
improvement and rehabilitation of real property in accordance with applicable provisions of law
for the benefit of residents and communities. hi pursuit of this purpose, this Agreement provides
for the joint exercise of powers common to any of its Members and Associate Members as
provided herein, or otherwise authorized by the Act and other applicable laws, including assisting
in financing as authorized hereii, jointly exercised in the manner set forth herein.
3. Principal Place of Business
The principal office of the Authority shall be 1215 K Street, Suite 1650, Sacramento,
California 95814.
4. Creation of Authority; Addition of Members or Associate Members
a. The Authority is hereby created pursuant to the Act. As provided in the Act, the
Authority shall be a public entity separate and distinct from the Members or Associate Members.
b. The Authority will cause a notice of this Agreement or any amendment hereto to
be prepared and filed with the office of the Secretary of State of California in a timely fashion in
the manner set forth in Section 6503.3 of the Act.
c. A county that is a member of RCRC may petition to become a member of the
Authority by submitting to the Board a resolution or evidence of other formal action taken by its
governing body adopting this Agreement. The Board shall review the petition for membership
and shall vote to approve or disapprove the petition. If the petition is approved by a majority of
the Board, such county shall immediately become a Member of the Authority.
d. An Associate Member may be added to the Authority upon the affirmative
approval of its respective governing board and pursuant to action by the Authority Board upon
such terms and conditions, and with such rights, privileges and responsibilities, as may be
established from time to time by the Board. Such terms and conditions, and rights, privileges and
responsibilities may vary among the Associate Members. Associate Members shall be entitled to
participate in one or more programs of the Authority as determined by the Board, but shall not be
voting members of the Board. The Executive Director of the Authority shall enforce the terms
and conditions for prospective Associate Members to the Authority as provided by resolution of
the Board and as amended from time to time by the Board. Changes in the terms and conditions
for Associate Membership by the Board will not constitute an amendment of this Agreement.
5. Term and Termination of Powers
This Agreement shall become effective from the date hereof until the earlier of the time
when all Bonds and any interest thereon shall have been paid in full, or provision for such
payment shall have been made, or when the Authority shall no Longer own or hold any interest in a
public capital improvement or program. The Authority shall continue to exercise the powers
herein conferred upon it until termination of this Agreement, except that if any Bonds are issued
and delivered, in no event shall the exercise of the powers herein granted be terminated until all
Bonds so issued and delivered and the interest thereon shall have been paid or provision for such
payment shall have been made and any other debt incurred with respect to any other financing
program established or administered by the Authority has been repaid in full and is no longer
outstanding.
6. Powers; Restriction upon Exercise
a. To effectuate its purpose, the Authority shall have the power to exercise any and all
powers of the Members or of a joint powers authority under the Act and other applicable
provisions of law, subject, however, to the conditions and restrictions herein contained. Each
Member or Associate Member may also separately exercise any and all such powers. The powers
of the Authority are limited to those of a general law county.
b. The Authority may adopt, from time to time, such resolutions, guidelines, rules and
regulations for the conduct of its meetings and the activities of the Authority as it deems necessary
or desirable to accomplish its purpose.
c. The Authority shall have the power to finance the construction, acquisition,
improvement and rehabilitation of real property, including the power to purchase, with the
amounts received or to be received by it pursuant to a bond purchase agreement, bonds issued by
any of its Members or Associate Members and other local agencies at public or negotiated sale, for
the purpose set forth herein and in accordance with the Act. All or any part of such bonds so
purchased may be held by the Authority or resold to public or private purchasers at public or
negotiated sale. The Authority shall set any other terms and conditions of any purchase or sale
contemplated herein as it deems necessary or convenient and in furtherance of the Act. The
Authority may issue or cause to be issued Bonds or other indebtedness, and pledge any of its
property or revenues as security to the extent permitted by resolution of the Board under any
applicable provision of law. The Authority may issue Bonds in accordance with the Act in order
to raise funds necessary to effectuate its purpose hereunder and may enter into agreements to
secure such Bonds. The Authority may issue other forms of indebtedness authorized by the Act,
and to secure such debt, to further such purpose. The Authority may utilize other forms of capital,
including, but not limited to, the Authority's internal resources, capital markets and other forms of
private capital investment authorized by the Act..
d. The Authority is hereby authorized to do all acts necessary for the exercise of its
powers, including, but not limited to:
(1) executing contracts,
(2) employing agents, consultants and employees,
(3) acquiring, constructing or providing for maintenance and operation of any
building, work or improvement,
(4) acquiring, holding or disposing of real or personal property wherever
located, including property subject to mortgage,
(5) incurring debts, liabilities or obligations,
(6) receiving gifts, contributions and donations of property, fiends, services and
any other forms of assistance from persons, firms, corporations or
governmental entities,
(7) suing and being sued in its own name, and litigating or settling any suits or
claims,
(8) doing any and all things necessary or convenient to the exercise of its
specific powers and to accomplishing its purpose
(9) establishing and/or administering districts to finance and refinance the
acquisition, installation and improvement of energy efficiency, water
conservation and renewable energy improvements to or on real property
and in buildings. The Authority may enter into one or more agreements,
including without limitation, participation agreements and implementation
agreements to implement such programs.
e. Subject to the applicable provisions of any indenture or resolution providing for the
investment of monies held thereunder, the Authority shall have the power to invest any of its funds
as the Board deems advisable, in the same manner and upon the same conditions as local agencies
pursuant to Section 53601 of the Government Code of the State of California.
f. All property, equipment, supplies, funds and records of the Authority shall be
owned by the Authority, except as may be provided otherwise herein or by resolution of the
Board.
g. Pursuant to the provisions of Section 6508.1 of the Act, the debts, liabilities and
obligations of the Authority shall not be debts, liabilities and obligations of the Members or
Associate Members. Any Bonds, together with any interest and premium thereon, shall not
constitute debts, liabilities or obligations of any Member. The Members or Associate Members
hereby agree that any such Bonds issued by the Authority shall not constitute general obligations of
the Authority but shall be payable solely from the moneys pledged to the repayment of principal or
interest on such Bonds under the terms of the resolution, indenture, trust, agreement or other
instrument pursuant to which such Bonds are issued. Neither the Members or Associate
Members nor the Authority shall be obligated to pay the principal of or premium, if any, or
interest on the Bonds, or other costs incidental thereto, except from the revenues and funds
pledged therefor, and neither the faith and credit nor the taxing power of the Members or
Associate Members or the Authority shall be pledged to the payment of the principal of or
premium, if any, or interest on the Bonds, nor shall the Members or Associate Members of the
Authority be obligated in any manner to make any appropriation for such payment. No covenant
or agreement contained in any Bond shall be deemed to be a covenant or agreement of any
Delegate, or any officer, agent or employee of the Authority in an individual capacity, and neither
the Board nor any officer thereof executing the Bonds or any document related thereto shall be
liable personally on any Bond or be subject to any personal liability or accountability by reason of
the issuance of any Bonds.
7. Governing Board
a. The Board shall consist of the number of Delegates equal to one representative
from each Member.
b. The governing body of each Member shall appoint one of its Supervisors to serve
as a Delegate on the Board. A Member's appointment of its Delegate shall be delivered in writing
(which may be by electronic mail) to the Authority and shall be effective until he or she is replaced
by such governing body or no longer a Supervisor; any vacancy shall be filled by the governing
body of the Member in the same manner provided in this paragraph b..
c. The governing body of each Member of the Board shall appoint a Supervisor as an
alternate to serve on the Board in the absence of the Delegate; the alternate may exercise all the
rights and privileges of the Delegate, including the right to be counted in constituting a quorum, to
participate in the proceedings of the Board, and to vote upon any and all matters. No alternate
may have more than one vote at any meeting of the Board, and any Member's designation of an
alternate shall be delivered in writing (which may be by electronic mail) to the Authority and shall
be effective until such alternate is replaced by his or her governing body or is no Longer a
Supervisor, unless otherwise specified in such appointment. Any vacancy shall be filled by the
governing body of the Member in the same manner provided in this paragraph c..
d. Any person who is not a member of the governing body of a Member and who
attends a meeting on behalf of such Member may not vote or be counted toward a quorum but
may, at the discretion of the Chair, participate in open meetings he or she attends.
e. Each Associate Member may designate a non -voting representative to the Board
who may not be counted toward a quorum but who may attend open meetings, propose agenda
items and otherwise participate in Board Meetings.
f. Delegates shall not receive compensation for serving as Delegates, but may claim
and receive reimbursement for expenses actually incurred in connection with such service
pursuant to rules approved by the Board and subject to the availability of funds.
g. The Board shall have the power, by resolution, to the extent permitted by the Act
or any other applicable law, to exercise any powers of the Authority and to delegate any of its
functions to the Executive Committee or one or more Delegates, officers or agents of the
Authority, and to cause any authorized Delegate, officer or agent to take any actions and execute
any documents for and in the name and on behalf of the Board or the Authority.
h. The Board may establish such committees as it deems necessary for any lawful
purpose; such committees are advisory only and may not act or purport to act on behalf of the
Board or the Authority.
i. The Board shall develop, or cause to be developed, and review, modify as
necessary, and adopt each Program.
8. Meetings of the Board
a. The Board shall meet at least once annually, but may meet more frequently upon
call of any officer or as provided by resolution of the Board.
b. Meetings of the Board shall be called, noticed, held and conducted pursuant to the
provisions of the Ralph M. Brown Act, Chapter 9 (commencing with Section 54950) of Part I of
Division 2 of Title 5 of the Government Code of the State of California.
c. The Secretary of the Authority shall cause minutes of all meetings of the Board to
be taken and distributed to each Member as soon as possible after each meeting.
d. The lesser of twelve (12) Delegates or a majority of the number of current
Delegates shall constitute a quorum for transacting business at any meeting of the Board, except
that less than a quorum may act to adjourn a meeting. Each Delegate shall have one vote.
e. Meetings may be held at any location designated in notice properly given for a
meeting and may be conducted by telephonic or similar means in any manner otherwise allowed
by law.
9. Officers; Duties; Official Bonds
a. The Board shall elect a chair and vice chair from among the Delegates at the
Board's annual meeting who shall serve a term of one (1) year or until their respective successor is
elected. The chair shall conduct the meetings of the Board and perform such other duties as may
be specified by resolution of the Board. The vice chair shall perform such duties in the absence or
un the event of the unavailability of the chair.
b. The Board shall contract annually with RCRC to administer the Agreement and to
provide administrative services to the Authority, and the President and Chief Executive Officer of
RCRC shall serve ex oflicio as Executive Director, Secretary, Treasurer, and Auditor of the
Authority. As chief executive of the Authority, the Executive Director is authorized to execute
contracts and other obligations of the Authority, unless prior Board approval is required by a third
party, by law or by Board specification, and to perform other duties specified by the Board. The
Executive Director may appoint such other officers as may be required for the orderly conduct of
the Authority's business and affairs who shall serve at the pleasure of the Executive Director.
Subject to the applicable provisions of any indenture or resolution providing for a trustee or other
fiscal agent, the Executive Director, as Treasurer, is designated as the custodian of the Authority' s
funds, from whatever source, and, as such, shall have the powers, duties and responsibilities
specified in Section 6505.5 of the Act.. The Executive Director, as Auditor, shall have the powers,
duties and responsibilities specified in Section 6505.5 of the Act.
c. The Legislative Advocate for the Authority shall be the Rural County
Representatives of California.
d. The Treasurer and Auditor are public officers who have charge of, handle, or have
access to all property of the Authority, and a bond for such officer in the amount of at least one
hundred thousand dollars ($100,000.00) shall be obtained at the expense of the Authority and
filed with the Executive Director. Such bond may secure the faithful performance of such
officer's duties with respect to another public office if such bond in at least the same amount
specifically mentions the office of the Authority as required herein. The Treasurer and Auditor
shall cause periodic independent audits to be made of the Authority's books by a certified public
accountant, or public accountant, in compliance with Section 6505 of the Act.
e. The business of the Authority shall be conducted under the supervision of the
Executive Director by RCRC personnel.
10. Executive Committee of the Authority
a. Composition
The Authority shall appoint nine (9) members of its Board to serve on an Executive
Committee.
b. Powers and Limitations
The Executive Committee shall act in an advisory capacity and make
recommendations to the Authority Board. Duties will include, but not be limited to, review of the
quarterly and amhual budgets, service as the Audit Committee for the Authority, periodically
review this Agreement; and complete any other tasks as may be assigned by the Board. The
Executive Committee shall be subject to all limitations imposed by this Agreement, other
applicable law, and resolutions of the Board.
c. Quorum
A majority of the Executive Committee shall constitute a quorum for transacting
business of the Executive Committee.
11. Disposition of Assets
Upon termination of this Agreement, all remaining assets and liabilities of the Authority
shall be distributed to the respective Members in such manner as shall be determined by the
Board and in accordance with the law.
12. Agreement Not Exclusive; Operation in Jurisdiction of Member
This Agreement shall not be exclusive, and each Member expressly reserves its rights to
carry out other public capital improvements and programs as provided for by law and to issue
other obligations for those purposes. This Agreement shall not be deemed to amend or alter the
terms of other agreements among the Members or Associate Members.
13. Conflict of Interest Code
The Authority shall by resolution adopt a Conflict of Interest Code as required by law.
14. Contributions and Advances
Contributions or advances of public funds and of personnel, equipment or property may
be made to the Authority by any Member, Associate Member or any other public agency to
further the purpose of this Agreement. Payment of public funds may be made to defray the cost of
any contribution. Any advance may be made subject to repayment, and in that case shall be repaid
in the manner agreed upon by the advancing Member, Associate Member or other public agency
and the Authority at the time of making the advance.
15. Fiscal Year; Accounts; Reports; Annual Budget; Administrative Expenses
a. The fiscal year of the Authority shall be the period • from January 1 of each year to
and including the following December 31, except for any partial fiscal year resulting from a change
in accounting based on a different fiscal year previously.
b. Prior to the beginning of each fiscal year, the Board shall adopt a budget for the
succeeding fiscal year.
c. The Authority shall establish and maintain such funds and accounts as may be
required by generally accepted accounting principles. The books and records of the Authority are
public records and shall be open to inspection at all reasonable times by each Member and its
representatives.
d. The Auditor shall either make, or contract with a certified public accountant or
public accountant to make, an annual audit of the accounts and records of the Authority. The
minimum requirements of the audit shall be those prescribed by the State Controller for special
districts under Section 26909 of the Government Code of the State of California, and shall
conform to generally accepted auditing standards. When an audit of accounts and records is made
by a certified public accountant or public accountant, a report thereof shall be filed as a public
record with each Member (and also with the auditor of Sacramento County as the county in which
the Authority's office is located) within 12 months after the end of the fiscal year.
e. In any year in which the annual budget of the Authority does not exceed five
thousand dollars ($5,000.00), the Board may, upon unanimous approval of the Board, replace the
annual audit with an ensuing one-year period, but in no event for a period longer than two fiscal
years.
16. Duties of Members or Associate Members; Breach
If any Member or Associate Member shall default in performing any covenant contained
herein, such default shall not excuse that Member or Associate Member from fulfilling its other
obligations hereunder, and such defaulting Member or Associate Member shall remain liable for
the performance of all covenants hereof. Each Member or Associate Member hereby declares
that this Agreement is entered into for the benefit of the Authority created hereby, and each
Member or Associate Member hereby grants to the Authority the right to enforce, by whatever
lawful means the Authority deems appropriate, all of the obligations of each of the parties
hereunder. Each and all of the remedies given to the Authority hereunder or by any law now or
hereafter enacted are cumulative, and the exercise of one right or remedy shall not impair the right
of the Authority to any or all other remedies.
17. Indemnification
To the full extent permitted by law, the Board may authorize indemnification by the
Authority of any person who is or was a Board Delegate, alternate, officer, consultant, employee or
other agent of the Authority, and who was or is a party or is threatened to be made a party to a
proceeding by reason of the fact that such person is or was such a Delegate, alternate, officer,
consultant, employee or other agent of the Authority. Such indemnification may be made against
expenses, judgments, fines, settlements and other amounts actually and reasonably incurred in
connection with such proceeding, if such person acted in good faith and in a manner such person
reasonably believed to be in the best interests of the Authority and, in the case of a criminal
proceeding, had no reasonable cause to believe his or her conduct was unlawful and, in the case of
an action by or in the right of the Authority, acted with such care, including reasonable inquiry, as
an ordinarily prudent person in a like position would use under similar circumstances.
18. Immunities
All of the privileges and immunities from liabilities, exemptions from law, ordinances and
rules, all pension, relief, disability, workers' compensation and other benefits which apply to the
activity of officers, agents or employees of any of the Members or Associate Members when
performing their respective functions, shall apply to them to the same degree and extent while
engaged as Delegates or otherwise as an officer, agent or other representative of the Authority or
while engaged in the performance of any of their functions or duties under the provisions of this
Agreement.
19. Amendment
This Agreement may be amended by the adoption of the amendment by the governing
bodies of a majority of the Members. The amendment shall become effective on the first day of
the month following the last required member agency approval. An amendment may be initiated
by the Board, upon approval by a majority of the Board. Any proposed amendment, including the
text of the proposed change, shall be given by the Board to each Member's Delegate for
presentation and action by each Member's board within 60 days, which time may be extended by
the Board.
The list of Members, Attachment 1, may be updated to reflect new and/or withdrawn
Members without requiring formal amendment of the Agreement by the Authority Board of
Directors.
20. Withdrawal of Member or Associate Member
If a Member withdraws as member of RCRC, its membership in the Authority shall
automatically terminate. A Member or Associate Member may withdraw from this Agreement
upon written notice to the Board; provided however, that no such withdrawal shall result in the
dissolution of the Authority as long as any Bonds or other obligations of the Authority remain
outstanding. Any such withdrawal shall become effective thirty (30) days after a resolution adopted
by the Member's governing body which authorizes withdrawal is received by the Authority.
Notwithstanding the foregoing, any termination of membership or withdrawal from the Authority
shall not operate, to relieve any terminated or withdrawing Member or Associate Member from
Obligations incurred by such terminated or withdrawing Member or Associate Member prior to
the time of its termination or withdrawal.
20. Miscellaneous
a. Counterparts. This Agreement may be executed in several counterparts, each of
which shall be an original and all of which shall constitute but one and the same instrument.
b. Construction. The section headings herein are for convenience only and are not to
be construed as modifying or governing the language in the section referred to.
c. Approvals. Wherever in this Agreement any consent or approval is required, the
same shall not be unreasonably withheld.
d. Jurisdiction; Venue. This Agreement is made in the State of California, under the
Constitution and laws of such State and is to be so construed; any action to enforce or interpret its
terms shall be brought in Sacramento County, California.
e. Integration. This Agreement is the complete and exclusive statement of the
agreement among the parties hereto, and it supersedes and merges all prior proposals,
understandings, and other agreements, whether oral, written, or implied in conduct, between and
among the parties relating to the subject matter of this Agreement.
f Successors; Assignment. This Agreement shall be binding upon and shall inure to
the benefit of the successors of the parries hereto. Except to the extent expressly provided herein,
no Member may assign any right or obligation hereunder without the consent of the Board.
g. Severability. Should any part, term or provision of this Agreement be decided by
the courts to be illegal or in conflict with any law of the State of California, or otherwise be
rendered unenforceable or- ineffectual, the validity of the remaining parts, terms or provisions
hereof shall not be affected thereby.
The parties hereto have caused this Agreement to be executed and attested by their properly
authorized officers.
AS ADOPTED BY THE MEMBERS:
Originally dated July 1, 1993
Amended and restated December 10, 1998
Amended and restated February 18, 1999
Amended and restated September 18, 2002
Amended and restated January 28, 2004
Amended and restated December 10, 2014
[SIGNATURES ON FOLLOWING PAGES]
SIGNATURE PAGE FOR NEW ASSOCIATE MEMBERS
NAME OF COUNTY OR CITY:
City of National City
Name: Ron Morrison
Title: Mayor
Attest:
By
[Clerk o the Board Sup'rvisors or City Cle
AFTER EXECUTION, PLEASE SEND TO:
Golden State Finance Authority
(formerly California Home Finance Authority)
1215 K Street, Suite 1650
Sacramento, CA 95814
Dated: "G J' ti, a n\ 5
82671.00000\9603861.1
ATTACHMENT 1
CALIFORNIA HOME FINANCE AUTHORITY MEMBERS
As of December 10, 2014
Alpine County
Amador County
Butte County
Calaveras County
Colusa County
Del Norte County
El Dorado County
Gleiui County
Humboldt County
Imperial County
Inyo County
Lake County
Iassen County
Madera County
Mariposa County
Mendocino County
Merced County
Modoc County
Mono County
Napa County
Nevada County
Placer County
Plumas County
San Benito County
Shasta County
Sierra County
Siskiyou County
Sutter County
Tel -lama County
Trinity County
Tuolumne County
Yolo County
Yuba County
CITY OF NATIONAL CITY
Office of the City Clerk
1243 National City Blvd., National City, California 91950
619-336-4228 phone / 619-336-4229 fax
Michael R. Dalla, CMC - City Clerk
CALIFORNIA HOME FINANCE AUTHORITY
Amended and Restated Joint Exercise of Powers Agreement
Carlos Aguirre (Housing & Grants) Forwarded Copy of
Agreement to California Home Finance Authority