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HomeMy WebLinkAboutRESOLUTIONS - 01312003 - 99-396 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY CALIFORNIA Adopted this Resolution on August 3, 1999,by the following vote: AYES: SUPERVISORS GIOIA, UILKEMA, GERBER, DLSAULNIER, AND CANCIAMILLA NOES: NONE ABSENT: NONE ABSTAIN: NONE RESOLUTION NO. 99/ 396 SUBJECT: A Resolution Authorizing the Issuance of Refunding Bonds, Approving and Directing the Execution of a Fiscal Agent Agreement and an Escrow Deposit and Trust Agreement, Authorizing Sale of Bonds, and Other Related Documents and Actions with Respect Thereto Mrack Road Improvements Camino Tassajara Area Reassessment District WHEREAS, this Board of Supervisors (this "Board") of the County of Contra Costa (the "County") has conducted proceedings under and pursuant to a Resolution of Intention to Levy Reassessments and to Issue Refunding Bonds Upon the Security Thereof No.99/394 , adopted on August 3, 1999 (the Resolution of Intention), to authorize the levy of reassessments upon the land within its Mrack Road Improvements Camino Tassajara Area Reassessment District (the District), and to issue bonds secured by said reassessments, the proceeds of which are to be used to refund certain existing obligations (the Prior Bonds), all as described therein; and WHEREAS, pursuant to the Resolution of Intention, this Board has provided for the issuance of limited obligation refunding improvement bonds pursuant to the Refimding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the Streets and Highways Code of the State of California(the Bond Law); and WHEREAS, there is on file with the Treasurer of the County a list of all of the reassessments within the District which remain unpaid (the List of Unpaid Reassessments); and SE:kw I hereby certify that this is a true and correct copy of an action \\PW51\SHARDATA\GrpData\SpDist\Board Orders\1999\08August\ lynch-ResAuthH.doc taken and entered on the minutes of the Board of Supervisors Orig.Dept Public Works Department(Special Districts) on the date shown. Contact: Skip Epperly,313-2253 Cc: County Administrator Auditor-Controller AUGUST �� County Assessor ATTESTED y 99 County Counsel PHIL BATCHELOR, Clerk of the Board of Supervisors and PW Accounting County Administrator By Q/CM ` �.!' _ Deputy RESOLUTION NO. 99/396 WHEREAS, there have been submitted to this Board certain documents providing for the issuance of the bonds by the County for the District, and the use of the proceeds of those bonds to refund certain existing bonds, including the forms of Fiscal Agent Agreement, Escrow Deposit and Trust Agreement, and Bond Purchase Contract, and this Board, with the aid of its staff, has reviewed said documents and found them to be in proper order; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of said bonds and the levy of said special reassessments as contemplated by this Resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Bond Law; NOW, THEREFORE, BE IT RESOLVED, By the Board of Supervisors of the County of Contra Costa, as follows: Section 1. Unpaid Reassessments. The reassessments that remain unpaid are as shown on the List of Unpaid Reassessments, which is hereby approved and incorporated herein by this reference. The total amount of the unpaid reassessments is not-to-exceed $445,000. For a particular description of the lots, pieces and parcels of land bearing the respective reassessment numbers set forth in the List of Unpaid Reassessments, reference is hereby made to the reassessment and to the diagram, and any amendments thereto approved by this Board, all as recorded in the office of the Director of Public Works of the County. Section 2. Bonds Authorized. Pursuant to the Bond Law, this Resolution and the Fiscal Agent Agreement (hereafter defined), refunding improvement bonds of the County for the District designated as County of Contra Costa Limited Obligation Refunding Improvement Bonds, (Mrack Road Improvements Camino Tassajara Area Reassessment District), Series 1999- 1 (the Bonds) in an aggregate principal amount not-to-exceed $445,000 are hereby authorized to be issued. Section 3. Fiscal Agent Agreement. The proposed form of Fiscal Agent Agreement (the Fiscal Agent Agreement) with respect to the Bonds in the form presented to this Board at this meeting, is hereby approved. The Auditor Controller or the Treasurer or such other official of the County as may be designated by this Board (the Authorized Official) is hereby authorized and directed to execute and deliver the Fiscal Agent Agreement in substantially said form, with such additions thereto or changes therein as are approved by the Authorized Official upon consultation with Jones Hall, A Professional Law Corporation, the County's bond counsel (Bond Counsel), including such additions or changes as are necessary or advisable, provided that no additions or changes shall authorize an aggregate principal amount of Bonds in excess of $445,000 the approval of such additions or changes to be conclusively evidenced by the execution and delivery of the Fiscal Agent Agreement by the Authorized Official. The date, manner of payment, interest rate or rates, interest payment dates, denominations, form, registration privileges, manner of execution, place of payment, terms of redemption and other terms of the Bonds shall be as provided in the Fiscal Agent Agreement as finally executed. RESOLUTION NO. 99/ 396 Section 4. Escrow Agreement. The form of Escrow Deposit and Trust Agreement by and between the County and U.S. Bank Trust National Association, as escrow holder, in the form presented to this Board at this meeting is hereby approved. The Authorized Official is hereby authorized and directed to cause the same to be completed and executed on behalf of the County in substantially said form, with such additions thereto or changes therein as are approved by the Authorized Official upon consultation with Bond Counsel. Section 5. Sale of Bonds. The sale of the Bonds to the County of Contra Costa Public Financing Authority (the Authority) is hereby approved and the Authorized Official is hereby authorized and directed to execute the Bond Purchase Contract on behalf of the County in substantially the form on file with the Clerk of this Board with such additions thereto or changes therein as are approved by the Authorized Official upon consultation with Bond Counsel, the approval of such additions or changes to be conclusively evidenced by the execution and delivery of the Bond Purchase Contract by the Authorized Official. This Board hereby finds and determines that the sale of the Bonds to the Authority provides savings to the Reassessment District that would not otherwise be available. Section 6. Bonds Printed and Delivered. Upon the execution of the Bond Purchase Contract, the Bonds shall be printed, authenticated and delivered, all in accordance with the applicable terms of the Fiscal Agent Agreement and the Authorized Official and other responsible County officials are hereby authorized and directed to take such actions as are required under the Bond Purchase Contract and the Fiscal Agent Agreement to complete all actions required to evidence the delivery of the Bonds upon the receipt of the purchase price thereof from the purchaser. Section 7. Actions. All actions heretofore taken by the officers and agents of the County with respect to the establishment of the District and the sale and issuance of the Bonds are hereby approved, confirmed and ratified, and the proper officers of the County are hereby authorized and directed to do any and all things and take any and all actions and execute any and all certificates, agreements, contracts, and other documents, which they, or any of them, may deem necessary or advisable in order to consummate the lawful issuance and delivery of the Bonds in accordance with this resolution, and any certificate, agreement, contract, and other document described in the documents herein approved. Section 8. Effective Date. This resolution shall take effect from and after its adoption. RESOLUTION NO. 99/ 396