HomeMy WebLinkAboutRESOLUTIONS - 10251983 - 83-1128 r
COUNTY OF CONTRA COSTA
RESOLUTION NO. 83/1128
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF CONTRA COSTA AMENDING RESOLUTION
NO. 83/1109 PROVIDING FOR THE ISSUANCE AND
SALE OF THE CONTRA COSTA COMMUNITY COLLEGE
DISTRICT 1983 TAX AND REVENUE ANTICIPATION NOTES
WHEREAS, for the purpose of satisfying obligations
payable from the General Fund of the Contra Costa Community
College District (the "District" ) , the Governing Board of the
District has filed with this Board of Supervisors (the
"Board" ) of the County of Contra Costa (the "County" ) a
resolution requesting the Board to borrow (for and on behalf
of the District) not to exceed the aggregate principal sum of
Seven Million Dollars ($7, 000, 000) by the issuance of
temporary notes under Sections 53850 et seq. of the
Government Code of the State of California in anticipation of
the receipt of taxes, income, revenue, cash receipts and
other moneys by the District for the General Fund of the
District during or allocable to Fiscal Year 1983-1984; and
WHEREAS, this Board by Resolution No. 83/1109 , adopted
October 18, 1983, determined to borrow (for and on behalf of
the District) the principal sum of Seven Million Dollars
($7,000,000) by the issuance of temporary notes designated
RESOLUTION NO . 83/1128
205
i.
the "Contra Costa Community College District 1983 Tax and
Revenue Anticipation Notes" (the "Notes") ; and
WHEREAS, in order to secure a lower rate of
interest on the Notes it is desirable to sell the Notes only
in denominations of $5, 000 and $25, 000;
NOW, THEREFORE, the Board of Supervisors of the
County of Contra Costa hereby resolves as follows:
Section 1. Section 1 of Resolution No. 83/1109 , adopted
Board, adopted October 18, 1983, is amended to read as
follows:
Section 1. For the purpose of satisfying
obligations payable from the General Fund of the
District, the Board hereby determines to and shall
borrow (for and on behalf of the District) the aggregate
principal sum of Seven Million Dollars ($7, 000,000) by
the issuance of temporary notes under Sections 53850 et
seq. of the Government Code of the State of California
in anticipation of the receipt of taxes, income,
revenue, cash receipts and other moneys by the District
for the General Fund of the District during or allocable
to Fiscal Year 1983-1984, designated the "Contra Costa
Community College District 1983 Tax and Revenue
Anticipation Notes" (the "Notes" ) . The Notes shall be
dated October 26, 1983, shall mature (without option of
prior redemption) on September 30, 1984, shall bear
interest (payable at maturity and computed on a 30-day
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RESOLUTION NO. 83/1128
month/360-day year basis) as set forth in the Note
Purchase Agreement hereinafter in Section 7 referred to,
shall be numbered and shall be in the denomination as
follows:
Note Numbers
(inclusive) Denomination
1 - 400 $ 5,000
401 - 600 25,000
Both the principal of and interest on the Notes shall be
payable, only upon surrender thereof, in lawful money of
the United States of America at the principal office of
Bank of America National Trust and Savings Association
in San Francisco, California.
Section 2 . The Treasurer-Tax Collector of the
County is authorized to do any and all things necessary to
effectuate the purposes of this resolution, including,
causing the forms of the Notes and of the Note Purchase
Agreement previously approved by this Board to be changed in
accord with this resolution.
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RESOLUTION NO. 83/1128
PASSED AND ADOPTED by the Board of Supervisors of
the County of Contra Costa this 25th day of October, 1983, by
the following vote:
AYES: Supervisors Powers, Fanden, McPeak, Torlakson
NOES: None
ABSENT: Supervisor Schroder
Chairman of the Board of Supervisors
of Contra Costa County
[Seal ]
Attest: J. R. OLSSON , County Clerk, and ex officio ,
�lerk of the Board of Supervisors
/
By C � Deputy
Clerk of the Board of Supervisors
of Contra Costa County
Treasurer-Tax Collector
Orrick, Herrington & Sutcliffe
Community College District of Contra Costa County
Bank of America
Auditor-Controller.
County Administrator-
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