HomeMy WebLinkAboutRESOLUTIONS - 10131987 - 87-613 RESOLUTION NO. 87/613
OF THE BOARD OF SUPERVISORS
OF THE COUNTY OF CONTRA COSTA, CALIFORNIA
RESOLUTION RATIFYING THE AMOUNTS OF THE BASE PAYMENTS PAYABLE
UNDER AN AGREEMENT RE COUNTYWIDE INTEGRATED TELECOMMUNICATIONS
NETWORK AND AUTHORIZING CERTAIN ACTIONS IN CONNECTION
THEREWITH.
WHEREAS, the County of Contra Costa is a political
subdivision of the State of California (herein called the
"County" ) ;
WHEREAS, under Resolution No. 87/51.1 passed and
adopted on August 18, 1987, the County is authorized to enter
into a certificate of participation financing with the Contra
Costa County Public Facilities Corporation (the "Corporation" )
for the prepayment of a contract payment to Pacific Bell for a
Countywide Integrated Telecommunications Network ,(herein
called the "Service" ) ;
WHEREAS, the County will make base payments for the
Service to the Corporation, pursuant to an Agreement Re
Countywide Integrated Telecommunications Network (the
"Agreement") , and the Corporation will, pursuant to an
Assignment Agreement and a Trust Agreement among the County,
the Corporation and Wall Street Trust Company California, as
trustee (the "Trust Agreement" ) , arrange for the execution and
1981S RESOLUTION NO. 87/613
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delivery of certificates of participation (the
"Certificates" ) , evidencing undivided interests in the base
payments to be made by the' County pursuant to the Agreement,
such base payments to be made from any funds of the County
lawfully available therefor, including the proceeds of the
Certificates;
WHEREAS, this Board pursuant to Resolution No.
87/575 adopted on September 22, 1987, approved certain
documents relating to such certificate of participation
financing for the Service, including the Trust Agreement and
the Agreement, and authorized and directed the execution of
such documents and the consummation of such financing;
WHEREAS, this Board reserved the right to ratify the
amounts of the base payments payable pursuant to the Agreement
prior to the execution and delivery thereof; and
WHEREAS, all acts, conditions and things required by
the Constitution and laws of the State of California to exist,
to have happened and to have been performed precedent to and
in connection with the consummation of such financing
authorized hereby do exist, have happened and have been .
performed in regular and,due time, form and manner as required
. by law, and the County is now duly authorized and empowered,
pursuant to each and every requirement of law, to consummate
such financing for the purpose, in the manner and upon the
terms herein provided;
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NOW, THEREFORE, BE IT RESOLVED by the Board of
Supervisors of the County of Contra Costa, as follows:
Section 1. The County hereby specifically finds and
declares that the actions authorized hereby constitute and are
with respect to public affairs of the County and that the
statements, findings and determinations of the County set
forth above are true and correct.
Section 2 . The approval of the form of agreement
between the County and Corporation entitled Agreement Re
Countywide Integrated Telecommunications Network, dated as of
October 1, 1987, on file with the Clerk of the Board of
Supervisors, is hereby ratified, and the Chairman of the Board
of Supervisors and the Clerk of the Board of Supervisors are
hereby authorized and directed to execute and deliver the
Agreement in substantially said form with such changes therein
as such officers may require or approve, such approval to be
conclusively evidenced by the execution and delivery thereof.
Section 3 . The approval of the form of Trust
Agreement by and among Wall Street Trust Company California,
as trustee, the Corporation and the County, dated as of
October 1, 1987, on file with the Clerk of the Board of .
Supervisors, is hereby ratified, and the Chairman of the Board
of Supervisors and the Clerk of the Board of Supervisors are
hereby authorized and directed to execute and deliver the
Trust Agreement in substantially said form with such changes
therein as such officers may require or approve, such approval
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to be conclusively evidenced by the execution and delivery
thereof.
Section 4. The schedule of the principal and
interest components of the base payments contained in the
Agreement and attached hereto as Exhibit.A are ratified and
approved and are hereby determined as the base payments to be
paid pursuant to the Agreement.
Section 5. The execution and delivery, pursuant to
the Trust Agreement, of $8, 000,000 aggregate principal amount
of the County of Contra Costa, California, 1987 Certificates
of Participation For Provision of a Countywide Integrated
Telecommunications Network, evidencing proportionate undivided
interests in the rights to receive base payments payable by
the County pursuant to the Agreements, is hereby authorized
and approved.
Section 6. The officers of the County are hereby
authorized and directed, jointly and severally, to do any and
all things and to execute and deliver any and all documents,
or make any necessary or advisable modifications to those
documents which are acceptable to the County Counsel' s Office
and Orrick, Herrington & Sutcliffe, special counsel, and which
they may deem necessary or advisable in order to consummate
the sale, execution and delivery of the Certificates.
Section. 7 . All actions heretofore taken by the
officers and agents of the County with respect to the sale,
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execution and delivery of the Certificates are hereby
approved, confirmed and ratified.
Section 8. This Resolution shall take effect from
and after its date of adoption.
PASSED AND ADOPTED this 13th day of October, 1987.
Chairman of the Board of Supervisors
County of Contra Costa, California
[Seal]
ATTEST: Phil Batchelor, Clerk of the
Board of Supervisors and
County Administrator
B
Y
Deputy Clerk of the Board of
Supervisors of the County of
Contra Costa, State of California
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CLERK' S CERTIFICATE
I, Jeanne 0. Maglio Deputy Clerk and Chief
Clerk of the Board of Supervisors of the County of Contra
Costa, hereby certify that the -foregoing is a full, true and
correct copy of a resolution duly adopted- at a regular meeting
of the Board of Supervisors of said County duly and regularly
held at the regular meeting place thereof on the 13th day of
October, 1987, of which meeting all of the members of said
Board of Supervisors had due notice and at which. a majority
thereof were present; and that at said. meeting said resolution
was adopted by the following vote:
AYES: Supervisors Powers , Fanden, Schroder , Torlakson, McPeak.
NOES: None.
An agenda of said meeting was posted at least 72
hours before said meeting at 651 Pine Street , Martinez,
California, a location freely accessible to members of the
public, and a brief general description of - said resolution
appeared on said agenda.
I further certify that I have carefully compared the
same with the original minutes of said meeting on file and of
record in my office; that the foregoing resolution is a full,
true and correct copy of the original resolution adopted at
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said meeting and entered in said minutes; and that said
resolution has not been amended, modified or rescinded since
the date of its adoption, and the same is now in full force
and effect.
WITNESS my hand and the seal of the County of Contra
Costa this day of October, 1987.
w.r.rl.. V'• s.t
Deputy Clerk OF
f0f the Board of Supervisors
of the County of Contra Costa,
State of California
[Seal]
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