HomeMy WebLinkAboutRESOLUTIONS - 11191996 - 96-515 RESOLUTION NO. 96/515
RESOLUTION OF THE BOARD OF SUPERVISORS OF
THE COUNTY OF CONTRA COSTA
APPROVING A FIRST AMENDMENT TO TRUST AGREEMENT
FOR CONCORD HEALTHCARE CENTER, INC. PROJECT
CERTIFICATES OF PARTICIPATION
WHEREAS, Concord Healthcare Center, Inc. , a California
corporation (the "Company") , proposed in 1986 to acquire and
construct a project consisting of a 124-bed skilled nursing and
intermediate care facility (the "Project") located at Concord
Boulevard west of Denkinger Road in Concord, California; and
WHEREAS, by Resolution No. 86/722, adopted December 16,
1986, the Board of Supervisors of the County of Contra Costa (the
"County") approved the execution and delivery of a Trust
Agreement, a Lease Agreement, and a Sublease Agreement,
respectively made and entered into as of December 1, 1986 (and
later Amended and Restated as of July 15, 1987) , by and among the
County, the Company, and Security Pacific National Bank (the
"Trustee") for the purpose of financing the Project; and
WHEREAS, pursuant to Resolution 86/722, Certificates of .
Participation ( "Certificates") each evidencing proportionate
interests in the Lease Rentals under the Lease Agreement were
executed and delivered pursuant to the Trust Agreement in an
original aggregate principal amount of $4, 300, 000, which were
designated as the "County of Contra Costa Certificates of
Participation (Concord Healthcare Center, Inc. Project) " ; and
WHEREAS, pursuant to Resolution 90/470, the County, the
Trustee and the Company entered into a further Amended and
Restated Trust Agreement dated as of August 1, 1990; and
WHEREAS, the Company has requested the County to .agree
to certain amendments to the Trust Agreement which do not
materially adversely affect the interests of the Holders of the
Certificates and may, pursuant to Section 1102 of the Trust
Agreement, be adopted without consent of the Holders of the
Certificates; and
WHEREAS, the County was and is authorized to undertake
all of the above pursuant to Sections 23004, 25351, 25353 and
26227 of the Government Code and Sections 16717 and 17000 of the
Welfare and Institution Code along with other applicable law of
the State of California; and
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WHEREAS, the County has determined that it is desirable
to approve the changes to the Trust Agreement proposed by the
Company.
NOW, THEREFORE, BE IT RESOLVED by the County of Contra
Costa as follows:
Section 1. Recitals. The Board finds and determines
that the all Recitals in this Resolution are true and correct.
Section 2 . First Amendment to Trust Agreement. The
proposed form of the First Amendment to Trust Agreement presented
at this meeting by and between the County and the Trustee is
hereby approved and the Chair of the Board of Supervisors, Vice
Chair of the Board of Supervisors, County Administrator and Clerk
of the Board of Supervisors, Deputy Director-Redevelopment, or
the designee of any of such persons, are, and each of them is,
hereby authorized and directed, for and in the name and on behalf
of the County, to execute and deliver to the Trustee the Trust
Agreement in substantially the form hereby approved, with such
non-substantive additions or changes as the officers executing
the same may approve, such approval to be conclusively evidenced
by the execution and delivery thereof.
Section 3 . Other Acts. The officers of the County are
hereby authorized and directed, jointly and severally, to do any
and all things, to execute and deliver any and all documents
which they may deem necessary or advisable in order to effectuate
the purposes of this Resolution, and any such actions previously
taken by such officers are hereby ratified and confirmed.
Section 4. Effective Date. This Resolution shall take
effect immediately upon adoption.
ADOPTED this 19th day of November, 1996.
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IShirley Casillas Deputy clerk for the
County of County of Contra Costa, do hereby certify that the
foregoing Resolution was regularly introduced and adopted by the
County at a regular meeting thereof held on the 19th day of
November, 1996, by the following vote of . the County.
AYES: Supervisors Rogers, Bishop, DeSaulnier, Torlakson, Smith
NOES: None
ABSENT: None
ABSTAINED: None
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the County of Contra Costa, this 19th
day of November 19 9 6.
ATTEST: Phil Baechelor,
County Administrator
and Clerk of the
Board of Supervisors
BY: eputy