Benicia City Council unanimously agreed to refinance the bonds that were issued Nov. 3, 2004 for the McAllister Area Assessment District.

Remaining principal on the original $11.7 million bond issue is $8.495 million, and refinancing the balance would reduce the assessments of the 336 affected property owners by $470. They currently pay $2,526.96 annually.

The difference is caused by the reduced interest rate, which was about 5 percent when the bonds were issued. Originally, city officials thought the refinancing would drop that to 3.75 percent, but consultant Bill Zenoni said the city has secured an offer from Chase Bank of 3.15 percent, a rate that would be good until July 16, when the city expects to close on the procedure.

The Council’s vote Tuesday was unanimous in endorsing the change.

It also unanimously confirmed Mayor Elizabeth Patterson’s appointment of Nancy Craig-Schram to the city’s Arts and Culture Commission.

In other matters, the panel passed everything on its consent calendar, a segment of the agenda reserved for matters usually considered noncontroversial and capable of being decided by a single vote without comment.

• The Council authorized signing a grant agreement that would underwrite the installation of three electric car chargers. Money to pay for the chargers comes from the city’s share of a California Electric Vehicle Alliance award from the California Energy Commission.

• The Council awarded a $123,910 contract to JJR Construction, San Mateo, for a Safe Route to Schools project that will eliminate gaps in the sidewalk route to Robert Semple Elementary School; install pedestrian safety improvements on Dempsey Drive for children crossing from Matthew Turner Elementary School to the Community Park parking lot and other Southampton areas; and install flashing beacons on Southampton Road at Turner Drive to help Benicia Middle School pupils cross safely.

• The panel approved its agreement with Benicia Main Street for the 2014-15 fiscal year. The nonprofit organizes such events as the city’s Independence Day activities that concluded Friday with fireworks at the foot of First Street.

The one-year, $100,000 contract calls for Main Street to handle a variety of events and activities, such as the Certified Farmers Market, Independence Day, other holiday events and a summer waterfront festival.

• The Council set $79,332,036 as the maximum allowable appropriations limit for Fiscal Year 2014-15 as required by California law intending to limit growth in appropriation. The vote gives Benicia a $52.1 million margin between approved appropriations and the appropriations limit.

• The panel set the Fiscal Year 2014-15 bonded indebtedness tax rate for refunding General Obligation bond series 2012 at .0137 per $100 of assessed property valuation. That’s a slight drop compared to last year’s assessment of .01433 per $100 of assessed value.

• The panel modified its agreement with WattzOn for a residential water and energy savings program that reflects impacts from the statewide drought. No additional money was requested.

• Representatives of Benicia-Tula Sister Cities announced the six-day visit to Benicia by a delegation from Tula, Hidalgo, Mexico, and said the city of Tula is building a new bridge named in honor of the agreement between Tula and Benicia.

• Lois Requist was recognized for her two-year term as Benicia’s poet laureate. Patterson also read proclamations in recognition of Parks Make Life Better and in acknowledgement of Benicia Old Town Theatre Group’s 50th anniversary.

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