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NBS Government Finance Group - Agreement for Bond ConsultantN B B Local Government Solutions June 21, 2007 Ms. Cindy Murphy Finance Director City of Gilroy 7351 Rosanna Street Gilroy, CA 95020 Subject: Addendum to Original Agreement to Provide Continuing Disclosure Services for the City of Gilroy $8,670,000 CFD 2000 -1, Series 2006 Dear Ms. Murphy: NBS would like to thank you for the opportunity to provide Continuing Disclosure Services for the City of Gilroy ( "City ") as referenced above. We will add these services to our existing agreement with the City. All other provisions of the existing contract between the City and NBS remain in effect. We look forward to continuing our professional relationship. Please find enclosed two (2) copies of our Executed Agreement. Upon signing, please return one copy to the undersigned and keep one copy for your records. Scope of Services Continuing Disclosure) In accordance with the Disclosure Certificate of the issue, NBS will assist in compliance with the annual disclosure requirement of the SEC Continuing Disclosure Rule 15c2 -12. Since the establishment of the Rule, the Bond Disclosure Certificate has guided our efforts. We scrupulously follow the requirements of the Disclosure Certificate to assure full compliance by the City. Even prior to Rule 15c2 -12, our consultants had been providing many of the disclosure requirements to the investment community. Specifically, NBS will perform the following: Document Review. NBS will review pertinent documents of the issue, including the Official Statement and Disclosure Certificate. We will identify material such as the Consolidated Annual Financial Report and /or other operating data that the City has agreed to provide in the Disclosure Certificate. Data Collection. NBS will collect the annual financial information and operating data that the City has agreed to provide to each Nationally Recognized Municipal Securities Information Repository (NRMSIR) and the appropriate State Information Depository (SID), if any. Report Preparation. NBS will prepare the Annual Disclosure Report as required in the Disclosure Certificate. Annual Dissemination. NBS will disseminate the Annual Disclosure Report to state and national repositories and post to our website to allow public access free of charge. Significant Events. NBS will prepare and disseminate a "Notice of Significant Events ", as listed on the Continuing Disclosure Certificate, to the appropriate SID, each NRMSIR, and the Municipal Securities Rulemaking Board (MSRB), as required in the certificate. Action will commence upon notification by the City of the occurrence of any of the events, if deemed by the City to be material. Typical significant events may include: Page 1 32605 Highway 79 South, Suite 100 1 Temecula, CA 92592 1 Tel: 951.296.1997 1 Toll -free: 800.676.7516 1 Fax: 951.296.1998 1) Principal and interest payment delinquencies 2) Non - payment related defaults 3) Unscheduled draws on debt service reserves reflecting financial difficulties 4) Unscheduled draws on credit enhancements reflecting financial difficulties 5) Substitution of credit or liquidity providers, or their failure to perform 6) Adverse tax opinions or events affecting the tax - exempt status of the security 7) Modifications to the rights of security holders 8) Bond calls 9) Defeasances 10) Release, substitution, or sale of property securing repayment of the securities 11) Rating changes Fees Continuing Disclosure) Report Fee (per report) Significant Event Notification ......... ............................... Dissemination Services Report Dissemination (per recipient) ............... Significant Event Dissemination (per recipient) Posting to NBS website )Expensed $1,500 hourly or $100 per event .$25 .$25 No charge Customary out -of- pocket expenses will be billed to the City at actual cost to NBS. These expenses may include, but not be limited to travel, postage, telephone, reproduction, meals and various County charges for tapes, maps, and recording fees. jAnnual Increases) Cost of living increases may be applied to the services listed above on October 1 each year, beginning with October 1, 2008. The COLA would be the actual cost of living increased based on the U.S. Department of Labor, Bureau of Labor Statistics, Consumer Price Index for all urban consumers for the Northern California counties. )Additional Services) The following table shows our current hourly rates. Additional services authorized by the City will be billed at this rate or the then applicable hourly rate. Page 2 Analyst 100 Clerical /Support 55 Expert Witness TBD; with minimum fee JTermsJ Fees will be invoiced upon completion of project. If the project is prematurely terminated by either party, NBS shall receive payment for work completed. Payment shall be made within 30 days of submittal of an invoice. If payment is not received within 90 days simple interest will begin to accrue at the rate of 1.5% per month. Either party can cancel administration contracts with 30 days written notice. Please feel free to contact me if you have any questions or need further information. Best regards, NBS Government Finance Group, DBA NBS o Mike Rentner n n E & President and CEO Title Date a 7/12/07 Title Date Page 3 .NBS NBS Government F Finance Group i January 29, 2003 Ms. Cindy Murphy Finance Director CITY OF GILROY 7351 Rosanna Street Gilroy, CA 95020 -6197 Subject: Agreement to Provide Special Tax Administration Services for Community Facilities District #2000 -1 Dear Ms. Murphy: Thank you for the opportunity to provide this agreement to perform Community Facilities District Administration and related services to the City of Gilroy (the "City "). We appreciate the opportunity to work with the City to provide these services. Please find attached two (2) copies of our Executed Agreement. Upon signing, please return one copy to the undersigned and keep one copy for your records. 1. SCOPE OF SERVICES A. Community Facilities District Administration EXPERT RESOURCE. First and foremost, NBS /GFG will act as the City's "expert resource," and is available to answer questions and advise the City on particular issues involving the Community Facilities District(s). DATA COLLECTION. NBS /GFG will gather and review data pertinent to the administration of the Community Facilities District. Data will be obtained from various sources such as assessor's parcel maps, building permits and county assessor information as determined to be necessary based on the requirements of the Rate and Method of Apportionment. NBS /GFG will maintain and periodically update a database of all parcels within the district and relevant parcel information. ADMINISTRATIVE COSTRECOVERY. NBS /GFG will identify all costs associated with the administration of the Community Facilities District and recover those costs through the levy process as outlined in §53317(e) and §53340 of the Government Code of the State of California. Such costs may include, but are not be limited to: bank fees, legal fees, county tax collection fees, and all costs and expenses of the public agency and its consultants related to district administration. Page 1 41661 Enterprise Circle North, Suite 225, Temecula, CA 92590 909.296.1997 800.676.7516 Fax 909.296.1998 Temecula San Francisco CASHAND EQUIVALENTS ANALYSIS. NBS /GFG will determine the Cash and Equivalents balance requirements, acquire the current Cash and Equivalents balances and make recommendations to keep the flow of funds and fund balances in compliance with the bond documents. Fund transfers might include the transfer of available surplus funds to be used as levy credits or the transfer of reserve funds to the redemption fund upon the prepayment of assessments. Cash flow analysis will be performed to determine any levy shortfall or surplus collections. SPECIAL TAXREQUIREMENT. NBS /GFG will calculate the annual Special Tax Requirement that will include all necessary components as outlined in the Rate and Method of Apportionment, such as principal and interest due, administrative expenses, collection for direct financing of services or facilities, and a fund credit or replenishment as determined from analysis of the district funds. LEVY CALCULATION. NBS /GFG will calculate the annual special tax levy for each parcel within the Community Facilities District following the guidelines established in the Rate and Method of Apportionment. MEETING ATTENDANCE. NBS /GFG will attend district related Council/Board meetings related to district administration, as requested by the City. LEVYSUBMITTAL. NBS /GFG will submit the levy to the County Auditor Controller in the required format and medium (i.e. tape, diskette). Special Taxes rejected by the County Auditor Controller will be researched and resubmitted for collection on the County Tax Roll. Any parcels that are not submitted to the County for collection will be invoiced directly to the parcel owner, with payment submitted to the public agency. SPECIAL TAX LEVYREPORT. NBS /GFG will provide an annual Special Tax Levy Report. This report will include a parcel listing with levy amounts and other parcel information, the details of the annual Special Tax Requirement, current delinquency information, fund analysis, administrative expenses to be recovered, status of the project and current issues affecting the district. DELINQUENCY MONITORING. NBS /GFG will provide a comprehensive list of delinquencies after each special tax installment becomes due. The delinquency report will provide the district's overall delinquency percentage as well as a detailed list of each delinquent parcel, with the name and address of the delinquent parcel owner, the delinquent amount and penalties. PREPAYMENT CALCULATIONS. NBS /GFG will provide special tax prepayment calculations to interested parties. The party requesting the calculation shall pay the fee of any prepayment calculation. BOND CALLS. NBS /GFG will prepare the spread of principal to be called within maturities for all bond calls and coordinate the call with the Paying Agent/Trustee. RELEASE OF LIENS. NBS /GFG will prepare all documents required to release the liens of parcels that have prepaid the special tax or where the district has matured. 1 r LU NBS Government Page 2 Finance Group CDIACREPORTING. NBS /GFG will perform all necessary reporting to the California Debt and Investment Advisory Commission as required by §53359.5(b) and §53359.5(c) of the Government Code of the State of California. NOTICE OF SPECIAL TAX DISCLOSURE. NBS /GFG will provide Notice of Special Tax Disclosure notices to requesting parties as required by §53340.2 and §53341.5 of the Government Code of the State of California. The fee of any Notice of Special Tax shall be billed to the party requesting the disclosure form. TOLL -FREE PHONE NUMBER. NBS /GFG will provide a toll -free phone number for use by the City, other interested parties and all property owners. Our staff will be available to answer questions regarding the formation of the district and ongoing collection of the special tax. Bilingual staff is available for Spanish - speaking property owners. B. Continuing Disclosure In accordance with the Disclosure Certificate of the issue, NBS /GFG will assist in compliance with the annual disclosure requirement of the SEC Continuing Disclosure Rule 15c2 -12. Since the establishment of the Rule, the Bond Disclosure Certificate has guided our efforts. We scrupulously follow the requirements of the Disclosure Certificate to assure full compliance by the City. Even prior to Rule 15c2 -12, our consultants had been providing many of the disclosure requirements to the investment community. Specifically, NBS /GFG will perform the following: DOCUMENT REVIEW. NBS /GFG will review pertinent documents of the issue, including the Official Statement and Disclosure Certificate. We will identify material such as the Consolidated Annual Financial Report and/or other operating data that the City has agreed to provide in the Disclosure Certificate. DATA COLLECTION. NBS /GFG will collect the annual financial information and operating data that the City has agreed to provide to each Nationally Recognized Municipal Securities Information Repository (NRMSIR) and the appropriate State Information Depository (SID), if any. REPORT PREPARATION. NBS /GFG will prepare the Annual Disclosure Report as required in the Disclosure Certificate. ANNUAL DISSEMINATION. NBS /GFG will disseminate the Annual Disclosure Report to state and national repositories. SIGNIFICANT EVENTS. NBS /GFG will prepare and disseminate a "Notice of Significant Events ", as listed on the Continuing Disclosure Certificate, to the appropriate SID and to either each NRMSIR or the Municipal Securities Rulemaking Board (MSRB). Action will commence upon notification by the City of the occurrence of any of the events, if deemed by the City to be material. Typical significant events may include: 1) Principal and interest payment delinquencies 2) Non - payment related defaults 1 V BU NBS Government Page 3 Eg Finance Group 3) Unscheduled draws on debt service reserves reflecting financial difficulties 4) Unscheduled draws on credit enhancements reflecting financial difficulties 5) Substitution of credit or liquidity providers, or their failure to perform 6) Adverse tax opinions or events affecting the tax - exempt status of the security 7) Modifications to the rights of security holders 8) Bond calls 9) Defeasances 10) Release, substitution, or sale of property securing repayment of the securities 11) Rating changes C. Arbitrage Rebate To assist in compliance with the IRS Code and U.S. Treasury Regulations, NBS /GFG will provide the following services, at the fees quoted, through the firm of Bond Logistix, LLC ( "BLX "), formerly known as Orrick, Herrington & Sutcliffe, LLP, the premiere firm for the provision of these services. The following outlines the specific services provided relating to arbitrage rebate calculation and consulting services. DOCUMENT REVIEW. Pertinent documents of the issue will be reviewed including the Official Statement, Trust Indenture, Tax Certificate, and IRS form 8038 -G to determine whether the issue is subject to the rebate requirement and identify what general and/or elective exceptions are available to the issue. BOND YIELD. Sources and uses of all proceeds will be identified to determine how the rebate requirement applies to each fund. Produce a debt service schedule for the issue and calculate and/or verify the bond yield. EXCESS EARNINGS CALCULATION. Trust statements and/or Agency accounting records will be utilized to create a cash flow report for each fund. These reports will be used to identify all investment activity and interest earnings attributable to the funds. Calculate the arbitrage earnings on investment of funds subject to rebate and determine the issuer's net rebate and/or penalty liability. INVESTMENT YIELD CALCULATION. The investment yield will be calculated for each fund as a "reality check" to reaffirm the accuracy of the cash flow report. This measure not only ensures the accuracy of the report but also is a useful tool when analyzing investment opportunities. SUMMARY. A report will be prepared that summarizes the rebate liability of the issue, identifies the methodology employed, computational assumptions, conclusions, and any recommended changes in record keeping and investment policies. Analyze all transactions and explore every legally permissible avenue to minimize the rebate liability. Identify outstanding proceeds subject to the rebate requirement, and identify the instruments and yields of the investment vehicles utilized by each fund. 1 V BU NBS Government Page 4 <. X00 Finance Group FILING REQUIREMENT. NBS /GFG will coordinate the preparation and filing of the IRS form 8038 -T with the payment as required. REVIEW. NBS /GFG will review the rebate report with City staff and discuss the policies and procedures as they relate to the rebate requirement to ensure compliance with treasury regulations. The review will also be used to determine the necessity of any future calculations. D. Delinquency Management NBS /GFG will develop a comprehensive delinquency management program which includes a discussion and interpretation of the issuer's foreclosure covenant together with a review of the existing polices and procedures of the City. This service can be provided as part of overall annual administration or as a stand -alone service. When deemed as the appropriate course of action, NBS /GFG will perform the following. DELINQUENCY REPORTS. NBS /GFG will provide the City with an updated list of delinquencies prior to sending any of the below letters. This report will also detail each district's percentage of delinquencies, as well as a detailed list of each delinquent parcel. REMINDER LETTER. At the City's direction, send a reminder letter to the property owner of each delinquent parcel for the December 10th installment. The purpose of the letter is to inform and educate the property owner of their obligation to pay assessments. DEMAND LETTER. At the City's direction, send a demand letter to the property owner of each delinquent parcel for the April 10th installment. This letter will be mailed to any property owner who remains delinquent for both installments or who is delinquent for April 10th only. The purpose of this letter is to further educate the property owner and advise them of a potential foreclosure. FORECLOSURE LETTER. This type of letter is typically sent after the installments for a parcel have been removed from the tax roll. The letter delineates what amount must be paid directly to the City to forestall the turnover of documents to the foreclosure attorney. TAX ROLL REMOVAL. NBS /GFG will provide the information required to remove parcels from the tax roll and coordinate with the County Auditor Controller to verify the removal. This step is in preparation of turning the parcels over for foreclosure. Once removed from the tax roll, each property owner will receive one final foreclosure letter indicating the amount due and payment instructions. PAYMENT PLANS. At the City's discretion, NBS /GFG will offer payment plans to property owners in lieu of turning parcels over to the City's foreclosure counsel. SUBSEQUENT FORECLOSURE SERVICES. NBS /GFG will prepare and deliver all information to the City's foreclosure counsel. We will also continue to supply the City's counsel with additional information throughout the foreclosure process. We will continue to respond to property owner and City staff phone calls regarding the status of all cases, and will coordinate and audit status reports on a bi- monthly basis from the City's foreclosure counsel. l V BU NBS Government Page 5 2a IF g Finance Group TOLL -FREE PHONE NUMBER. NBS /GFG will provide a toll -free phone number for use by the City, other interested parties and all property owners. Our staff will be available to answer questions regarding the formation and ongoing collection of assessments /special taxes for the districts. Bilingual staff is available for Spanish- speaking property owners. 2. FEE STRUCTURE A. Community Facilities District Administration The annual fee for Community Facilities District No. 2000 -1 will be $3,750. Prepayment Calculations (per request) ..................... ............................... ...........................$150 (Fee based on complexity of calculations. Party requesting calculations shall pay) Notice of Special Tax (per notice) ............................................................ ............................$10 (The fee of any Notice of Special Tax shall be billed to the party requesting the disclosure form) B. Continuing Disclosure ANNUAL REPORT FEE Annual Report (per report) .............................................. ............................... $1,500 SPECIAL EVENT NOTIFICATION .................... ............................... hourly or $100 per event DISSEMINATION SERVICES Report Dissemination (per recipient) ................................... ............................... $25 Significant Event Dissemination (per recipient) .................. ............................... $25 C. Arbitrage Rebate BASE FEES CommitmentFee: .................................................................................................... $500 Report Fee (per report): ......................................................................................... 2,250 ADDITIONAL SERVICE FEES Computation Periods in Excess of 18 Months (per year): ............................ $500-1,000 Commingled Funds Analysis (as appropriate): ............................................... 500-1,000 Transferred Proceeds Analysis (as appropriate): ............................................ 500-1,000 Variable Rate Issues: ....................................................................................... 500-1,000 l V LU NBS Government Page 6 g F Finance Group D. Delinquency Management Reminder Letters .................................................................... ............................... $10 DemandLetters ........................................................................... .............................15 $ 135 Foreclosure Letters ................................................................... ............................... 30 Payment Plan Administration ..................... ............................... ............................150 110 TaxRoll Removal ....................................................................... .............................50 ** Subsequent Foreclosure Fees ...................................................... .............................75 * ** All fees are based on a per parcel /per district basis * This fee will be recovered as part of the next levy. ** This fee includes filing of "Notice of Intent to Remove Delinquent Installments" but does not include County fees for removal from the tax roll. * ** This fee is per parcel /per district/per year from the initiation of the foreclosure. E. Additional Services Following is the current hourly rate. Additional services authorized by the City will be billed at this rate or the then applicable hourly rate. Title Hourly Rate Director $ 135 Engineer 125 Senior Consultant/Programmer 110 Consultant 85 Analyst 65 Clerical /Support 45 F. Annual Fee Increases and Other Expenses Cost of living increases may be applied to the services listed above on October 1 each year, beginning with October 1, 2004. The COLA would be the actual cost of living increased based on the U.S. Department of Labor, Bureau of Labor Statistics, Consumer Price Index for all urban consumers for Northern California counties. Customary out -of- pocket expenses will be billed to the City at actual cost to NBS /GFG. These expenses may include, but are not limited to travel, postage, telephone, reproduction, meals and various charges for tapes, maps, and recording fees. NBS gaFga NBS Government Finance Group — Page 7 3. TERMS Administration services will be invoiced quarterly at the beginning of each quarter. Expenses will be itemized and included in the next regular invoice. Fees for all other services will be invoiced upon completion of the task. Payment shall be made within 30 days of submittal of an invoice. If payment is not received within 90 days simple interest will begin to accrue at the rate of 1.5% per month. Administration contracts can be cancelled by either party with 30 days written notice. Best regards, NBS Government Finance Group Mike Rentner President and CEO 1`Oza -) 3 Title Date .BS NBS Government Finance Grou U City of Gilroy Name �1 hu nC b�v������� l Title Date Page 8 NBSGOVE -01 MES A C ORD TM CERTIFICATE OF LIABILITY INSURANCE DATE (MM /DD/YYYY) 9/21/2011 PRODUCER Vanorsdale Insurance Services 6165 Greenwich Drive, Suite 200 San Diego, CA 92122 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. INSURERS AFFORDING COVERAGE NAIC # INSURED NBS Government Finance Group 32605 Temecula Parkway, Suite 100 Temecula, CA 92592 INSURERA: Maryland Casualty Insurance Company A INSURER B: General Insurance Company of America GENERAL LIABILITY X COMMERCIAL GENERAL LIABILITY CLAIMS MADE 1XI OCCUR INSURER C: Northern Insurance Company of New Yor 9/24/2011 INSURER D: EACH OCCURRENCE INSURER E: PREMISES Ea - ccurence COVERAGES THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR ADD'L INSR TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE DATE MM /DD POLICY EXPIRATION DATE MM /DD LIMITS A GENERAL LIABILITY X COMMERCIAL GENERAL LIABILITY CLAIMS MADE 1XI OCCUR PAS00053837 9/24/2011 9/24/2012 EACH OCCURRENCE $ 2,00000 PREMISES Ea - ccurence $ 2,000,00 MED EXP (Any one person) $ 10,00 PERSONAL 8 ADV INJURY $ 2,000,00 GENERAL AGGREGATE $ 4,000,00 GEN'L AGGREGATE LIMIT APPLIES PER: POLICY PRO- JECT LOC PRODUCTS - COMP /OP AGG $ 4,000,00 B AUTOMOBILE LIABILITY ANY AUTO ALL OWNED AUTOS SCHEDULED AUTOS HIRED AUTOS NON -OWNED AUTOS 24CC2848592 9/24/2011 9/24/2012 COMBINED SINGLE LIMIT (Ea accident) $ 1,000,00 X BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE (Per accident) $ GARAGE LIABILITY ANY AUTO AUTO ONLY - EA ACCIDENT $ OTHER THAN EA ACC AUTO ONLY: AGG $ $ EXCESS /UMBRELLA LIABILITY OCCUR CLAIMS MADE DEDUCTIBLE RETENTION $ EACH OCCURRENCE $ AGGREGATE $ $ $ C WORKERS COMPENSATION AND EMPLOYERS' LIABILITY ANY PROPRIETOR /PARTNER /EXECUTIVE OFFICER /MEMBER EXCLUDED? If yes, describe under SPECIAL PROVISIONS below 0429775201 9/24/2011 9/24/2012 X TORY L M TS ER E.L. EACH ACCIDENT $ 1,000,00 E.L. DISEASE - EA EMPLOYEE $ 1,000,00 E.L. DISEASE - POLICY LIMIT $ 1,000,00 OTHER DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES / EXCLUSIONS ADDED BY ENDORSEMENT / SPECIAL PROVISIONS Except 10 days notice of cancellation for non - payment of premium. Proof of Insurance CERTIFICATE ISSUED DUE TO POLICY RENEWAL" CERTIFICATE HOLDER CANCELLATION City of Gilroy Attn: Mr. Raymond Chin 7351 Rosanna Street Gilroy, CA 95020- SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER, ITS AGENTS OR REPRESENTATIVES. AUTHORIZED REPRESENTATIVE --- -- -� _ f�- ACORD 25 (2001 /08) V AGURD GORNUKA I IUN 1910 NBSGOVE -01 MES ,acoRO'r. CERTIFICATE OF LIABILITY INSURANCE DATE (M /201YYY) 9/20/2012 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER (858) 869 -8300 Vanorsdale Insurance Services 6165 Greenwich Drive, Suite 200 San Diego, CA 92122 NAME: Janet Darby PHONE g58- 869 -8326 FAX A/C No Ext : A/c No : 858- 869 -8301 E-MAIL JDarby@Vanorsdale.com INSURER(S) AFFORDING COVERAGE NAIC # INSURER A: Maryland Casualty Insurance Company - — -- INSURED NBS Government Finance Group 32605 Temecula Parkway, Suite 100 Temecula, CA 92592 INSURER B: American States Insurance Company 9/24/2012 INSURER C: Golden Eagle Insurance Corporation EACH OCCURRENCE INSURER D: Northern Insurance Company of New York PREMISES IEa occurrence INSURER E: MED EXP (Any one person) INSURER F: PERSONAL & ADV INJURY COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL UBR POLICY NUMBER POLICY EFF MM /DD/YYYY POLICY EXP MM /DD/YYYY LIMITS A GENERAL LIABILITY X COMMERCIAL GENERAL LIABILITY CLAIMS -MADE X OCCUR - — -- PAS00053837 9/24/2012 9/2412013 EACH OCCURRENCE $ 2,000000 PREMISES IEa occurrence $ 2,000,00 MED EXP (Any one person) $ 10,00 PERSONAL & ADV INJURY $ 2,000,00 GENERAL AGGREGATE $ 4,000,00 GEN'L AGGREGATE LIMIT APPLIES PER: X POLICY PRO LOC PRODUCTS - COMP /OP AGG $ 4,000,00 $ B AUTOMOBILE LIABILITY X ANY AUTO ALL OWNED SCHEDULED AUTOS AUTOS NON -OWNED HIRED AUTOS AUTOS 01 C16321551 9/24/2012 9/24/2013 COMBINED SINGLE LIMIT Ea accident $ 1,000,00 BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE Per accident $ C X UMBRELLA LIAB EXCESS LIAB X OCCUR CLAIMS -MADE CU8919493 9/24/2012 9/24/2013 EACH OCCURRENCE $ 1,000,00 AGGREGATE $ 1,000,00 DED RETENTION $ Over Auto Only $ D WORKERS COMPENSATION AND EMPLOYERS' LIABILITY YIN ANY PROPRIETOR /PARTNER /EXECUTIVE OFFICER /MEMBER EXCLUDED? � (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below N/A 0429775202 9/2412012 9/24/2013 X C STATU- TWORY LIMITS OTH- ER E.L. EACH ACCIDENT $ 1,000,00 E.L. DISEASE - EA EMPLOYEE $ 1,000,00 E.L. DISEASE -POLICY LIMIT 1 $ 1,000,00 DESCRIPTION OF OPERATIONS I LOCATIONS / VEHICLES (Attach ACORD 101, Additional Remarks Schedule, if more space is required) *Except 10 days notice of cancellation for non - payment of premium. Proof of Insurance *CERTIFICATE ISSUED DUE TO POLICY RENEWAL* CERTIFICATE HOLDER CANCELLATION ACORD 25 (2010/05) © 1988 -2010 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN City of Gilroy ACCORDANCE WITH THE POLICY PROVISIONS. Attn: Mr. Raymond Chin 7351 Rosanna Street AUTHORIZED REPRESENTATIVE Gilroy, CA 95020- - — -- ACORD 25 (2010/05) © 1988 -2010 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD NBSGOVE -01 MES ,4coR0" CERTIFICATE OF LIABILITY INSURANCE COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. F�DATTE9'MM /DD/YYYY) 9/20/2013 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER (858) 869 -8300 Vanorsdaie Insurance Services 6165 Greenwich Drive, Suite 200 San Diego, CA 92122 NAME:, Janet Darby - PHONE 858- 869 -8323 a/c A/C No EM he): 858- 869 -8301 ADDRESS: IL JDarby@Vanorsdale.com INSURER(S) AFFORDING COVERAGE NAIL p INSURER A: Maryland Casualty Insurance Company 19356 " INSURED NBS Government Finance Group 32605 Temecula Parkway, Suite 100 Temecula, CA 92592 INSURER B: American States Insurance Company 19704 INSURER C: Golden Eagle Insurance Corporation 10836 INSURER D: Northern Insurance Company of New York 19372 INSURER E: MED EXP (Anyone person) INSURER F: PERSONAL & ADV INJURY COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL IN SR UBR WVD POLICY NUMBER POLICY EFF MM /DDYYY IY POLICY EXP MM /DD/YYYY LIMITS A. GENERAL LIABILITY X COMMERCIAL GENERAL LIABILITY CLAIMS -MADE OCCUR PAS00053837 9/2412013 - 9/24/2014 - EACH OCCURRENCE $ 2,000000 DAMAGE TO RENTED PREMISES Ea occurrence) $ 2,000,000 MED EXP (Anyone person) $ 10,000 PERSONAL & ADV INJURY $ 2,000,000 GENERAL AGGREGATE $ 4,000,000 GEN'L AGGREGATE LIMIT APPLIES PER: ROT LOC POLICY. PE PRODUCTS - COMP /OP AGG $ 4,000,000 $ B AUTOMOBILE LIABILITY ANY AUTO ALL OWNED SCHEDULED AUTOS AUTOS NON -OWNED HIRED AUTOS AUTOS 01CI6321552 9/24/2013 9124/2014 COMBINED SINGLE LIMIT E... $ 1,000,000 X BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE Per accident $ C UMBRELLA LIAB EXCESS LIAR X OCCUR CLAIMS -MADE CU8919493 9/24/2013 9/2412014 EACH OCCURRENCE $ 1,000,000 X AGGREGATE $ DED RETENTION $ $ D _ WORKERS COMPENSATION AND EMPLOYERS' LIABILITY ANY PROPRIETOR /PARTNER /EXECUTIVEr / N OFFICER /MEMBER EXCLUDED ?' (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below N / A 0429775203 9/24/2013 9124/2014 X WC STATU- OH- TORY LIMITS ER E.L. EACH ACCIDENT . $ 1,000,000 E.L. DISEASE - EA EMPLOYEE $ 1,000,000 E.L. DISEASE - POLICY LIMIT $ 1,000,000 DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (Attach ACORD 101, Additional Remarks Schedule, If more space is required) *Except 10 days notice of cancellation for non - payment of premium. Proof of Insurance *CERTIFICATE ISSUED DUE TO POLICY RENEWAL* t,tK 1 11-11 -A Il_ nvl_utK City of Gilroy Attn: Mr. Raymond Chin 7351 Rosanna Street Gilroy, CA 95020- SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ©1988 -2010 ACORD CORPORATION. All rights reserved. ACORD 25 (2010/05) The ACORD name and logo are registered marks of ACORD