HomeMy WebLinkAboutRESOLUTIONS - 01181994 - 94-69 TO: BOARD OF SUPERVISORS CONTRA
COSTA
FROM: KENNETH J. CORCORAN,AUDITOR-CONTROLLER COUNTY
DATE: January 18,1994
SUBJECT: Refund County of Contra Costa Open Space and Park Bonds 1974 for Co. Service Area R-8
RESOLUTION NO. 94/69
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
Recommendation:
Approve the following contracts:
1. Bond Counsel Agreement,by and between the County of Contra Costa and Orrick,
Herrington& Sutcliffe, dated as of January 18, 1994.
2. Agreement Employing Sutro&Co. for Underwriting Services,by and between the County
of Contra Costa and Sutro&Co., dated as of January 18, 1994.
Financial Impact:
There will be no financial impact on the County's general fund. Refunding Bonds, like original bonds, are
general obligation bonds which allow for a property tax levy within County Service Area R-8 to meet debt
service requirements. Entire benefit of refunding will inure to property owners.
Background:
These actions employ bond counsel and an underwriter to begin the process of accomplishing the refunding of
the CSA R-8 general obligation bonds. Sutro&Co. has determined that the refunding can generate property
owner savings at current market rates. Orrick, Herrington& Sutcliffe was the bond counsel on the original
transaction.
CONTINUED ATTACHMENT:_YES SIGNATURE:
_RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD CO ITTEE
APPROVE OTHER
SIGNATURES(S):
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
/UNANIMOUS(ABSENT ) I HEREBY CERTIFY THAT THIS IS A TRUE
AYES: . NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THE DATE SHOWN.
Contact: Stephen Ybarra (646-2225) ATTESTED �,,, _ 1 8, 19 Q
cc: CAO PHILATS CHELOR ERK OF THE BOARD OF
SUPERVISORS AND COUNTY ADMINISTRATOR
BY _ ��� DEPUTY
RESOLUTION NO.