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HomeMy WebLinkAboutRESOLUTIONS - 10172007 - RES-405 IN THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, STATE OF CALIFORNIA ACTING AS THE BOARD OF DIRECTORS OF CONTRA COSTA COUNTY" SANITATION DISTRICT NO. 3 In the Matter of .Holding a Bond Election in Sanitation District No. 3, Pursuant to the Revenue RESOLUTION Bond: Law of 1941 (Government Code sections 54300 et seq. ) IMISO .U?"1ON 'N% 405 The Board of Supervisors of the County of Contra Costa, acting as the Board of Directors of the Contra Costa County Sanitation District No. 3 does hereby resolve as follows: THAT this Board has duly determined that the public interest and necessity demand the acquisition and improvement of the enterprise hereinafter mentioned and has further duly determined that such enter- prise should be financed by the issuance of revenue bonds under the Revenue Bond Law of 1941 (Calif. Gov't Cade Sections 54300 et seq. ) THAT a special revenue bond election is hereby ordered and will be held in Contra Costa County Sanitation District No. 3 on Tuesday, November 28, 1961, at which election shall be submitted to all persons possessing all requirements of electors under the general election laws of the State of California and who are duly qualified electors residing within said District the measure of issuing revenue bonds under the Revenue Bond Law of 1941 of the State of California (California Government Code Sections 54300 et seq. ) for the purpose of providing funds for the acquisition and improvement of an enterprise, to wit, the sew-age disposal system owned by the Kavanagh Investment Company, as set forth in the following measure, to wit. MEASURE: Shall Sanitation District No. 3 issue revenue bonds in the principal amount of $195,000 pursuant to the Revenue Bond Law of 1941 to provide funds for the object and purpose of acquiring and improvement and financing the following enterprise; the sewage disposal system owned by Kavanagh Investment Company. THAT the estimated cost of the acquisition and improvement of said sewage disposal system as described in the above measure is $210,400 and the principal amount of the revenue bonds proposed to be issued therefor is $195,000. Said estimated cost includes all costs and estimated costs incidental to or connected with the acquisition and improvement of the enterprise, including all engineering, inspection, legal and fiscal agent's fees, and the cost of the issuance of said revenue bonds, bond reserve funds, and working capital and bond interest estimated to accrue during the construction period and for a period of not to exceed twelve (12) months after completion of construction. The enterprise for the acquisition, improvement and financing of which said revenue ,bonds shall be issued is hereby defined to be the whole of said sewage disposal system described in said measure and all additions, extensions, betterments and improvements thereto. RESOLUTION N0A0 ,J_, THAT this board proposes to issue and sell revenue bonds in not to exceed the amount and for the object and purposes specified in the above measure if a majority of all of the electors of said District voting on said measure at said special revenue bond election shall vote in favor of said measure. The rate of interest to be paid on said revenue bonds shall not exceed six (6) per cent per annum payable annually or semi--annually, and said issue of revenue bonds shall be revenue bonds payable exclusively from the revenues of the enterprise for which the same are authorized and are not to be secured by the taxing power of said District and shall be issued under said Revenue Bond Law of 1941. The principal of and interest on said revenue bonds, and any premiums upon the redemption of any thereof, are not and shall not constitute a debt of said District, nor a legal or equitable charge, lien or encumbrance upon any property or upon any income, receipts orsevenues of said District, except the revenue of the enterprise for which the same are authorized. No taxes shall be levied or collected by said District for the payment of any of said revenue bonds or the interest thereon; nor shall any property of said District be subject to forfeiture therefor; but all revenues of said enterprise legally available for the payment of said revenue bonds shall be applied to such payment. Said issue of revenue bonds, if authorized, shall be special obligations of said District and shall be secured by a pledge of and shall be a charge upon and shall be payable, as to the principal thereof, interest thereon and any premiums upon the redemption of any thereof, solely from and secured by a lien upon the gross revenues of said enterprise as herein defined and all of the gross revenues of the enterprise for which the same are authorized as provided for herein, and all of such revenues of such enterprise, including the revenues of improvements, additions and extensions thereto, thereafter constructed or acquired, shall be pledged and assigned as security for said revenue bands; provided, that if the interest on and principal of said revenues bonds and all charges to protect or secure them are paid when due (including all sums re- quired for sinking funds, redemption funds, reserve funds, or other funds created for the better securing of said bonds) , an amount for the necessary and reasonable maintenance and operation costs of said enterprise (which costs include the reasonable expenses of management, repair and other expenses necessary to maintain and preserve said enterprise in good repair and working order) may be apportioned from said revenues, and, subject to any limiting covenants in the re- solution of the Board of Directors providing for the issuance of said revenue bonds, the remaining surplus may be used for any lawful purpose of said District; provided, that the principal of and Interest on said revenue bonds, and all sums for security funds which may be established by this Board of Directors in said re- solution, shall be paid from said revenues prior to paying of the maintenance and operation costs of said enterprise. This Board of Directors may, subject to the provisions of said Revenue Bond Law of 1941, provide for the issuance of additional bonds for the pur- pose of acquiring, constructing, improving, or financing said enterprise, or any extensions or additions thereto, or any com- bination of two or more of such purposes, on a parity with the revenue bonds herein authorized for said enterprise, or subject to such limitations as this Board of Directors may specify at the time of the issuance of said revenue bonds herein authorized for said enterprise. t 405 THAT this Board does hereby submit to all persons possessing all requirements of electors of Contra Costa County . Sanitation District No. 3 under the general election laws of the State of California and who are duly qualified electors residing within said District at said special revenue bond election the said measure set forth hereinabove, and designates and refers to said measure as the form of measure to be set forth on the ballots to be used as said special revenue bond election. THAT said special revenue bond election shall be held and conducted, and the votes thereat canvassed and the returns thereof made, and the result thereof ascertained and determined as herein provided; and in all particulars not prescribed by this resolution, said special revenue- bond election shall be held according to the provisions of law governing, general municipal elections in said District. THAT the polls at the polling places hereinafter de- signated shall be opened at 7:403 o'clock A.M. (P.S.T. ) of said day of election and shall be kept open continuously thereafter until 7:00 o'clock P.M. (P.S.T. ) of said day of election, when the polls shall be closed (except as provided in Section 5734 of the Elections Code), and the election officers shall thereupon proceed to canvass the ballots cast thereat. THAT for the purpose of holding said election, the District shall be divided into two (2) BOND ELECTION PRECINCTS, numbered from 1 to 2 consecutively, as hereinafter described; and the persons hereinafter named being competent and qualified electors of said District, and of their respective Bond. Election Precincts are hereby appointed officers of election, as hereinafter designated, to serve in their respective Bond Election Precincts, as hereinafter set forth; and said Officers of Election shall conduct said election and make returns thereof pursuant to law. The voting precincts, polling places and election officers, duly designated and appointed, are as follows: B03ND ELECTION PRECINCT NO. 1 shall include all the area embraced in regular County general, election precincts Giant Nos. 10, 13, 14 and 15, and those portions of regular County General election precincts Giant Nos. 8 and79 lying within Contra Costa County Sanitation District No. 3. Polling Place therein shall be at Tara Hills School, Dolan flay, San Pablo, California Officers of Election for said .Bond Election Precinct: NAOMI C. MCCALLEN, Inspector ALTA N. GRAGG, Clerk MARJORIE GEORGE, Judge BEATRICE L. McCALLEN, Clerk BOND ELECTION PRECINCT NO. 2 shall include all the area embraced in regular County general election precincts Giant Nos. 6 and 7, and those portions of regular County general election precincts Giant Nos. 1, 5, 11 and 12 lying within Contra Costa County Sanitation District No. 3. Polling Place therein shall be at Montalvin Manor School, Christine Drive, San Pablo, California Officers of Election for said Bond Election Precinct: HELEN R. DAVIES, Inspector LUCILLE E. ROOD, Clerk ELIZABETH J. LEON, Judge LEONA HIRNING, Clerk The form of ballot to be used for said special revenue bond election shall, in addition to all other matters required by law to be printed thereon, set forth the measure as set forth hereinabove. Each voter to vote for said Measure hereby submitted and in favor of the issuance of revenue bonds as set forth in said Measure shall stamp a cross. (X) in the blank space opposite the word "YES" on the ballot to the right of said Measure and to vote against said. Measure and against the issuance of revenue bonds set forth in said Measure shall stamp a cross W in the blank space opposite the word "NO" on the ballot to the right of said Measure. On absent voter ballots the cross (X) may be marked with pen or pencil. This Board of Directors shall meet at its usual place of meeting on Tuesday, December 5, 1961, being the first Tuesday after said special revenue bond election at the hour of 11:00 a.m. to canvass the returns and declare the result of said special revenue bond election. THAT the Clerk of the Board is hereby directed to publish this resolution once a week for two succeeding weeks in THE SAN PABLO NEWS, a newspaper published less than six days a week in the District. PASSED AND ADOPTED on the 31st day of October 1961, by the following vote of the Board. AYES: Supervisors James P. Kenny, Niel F. Nielsen, Thomas John Coll, Edmund A. Linscheid, Joseph S. Silva. NOES: None. ABSENT: None . DATED: October 31, 1961 W. T. PAASCH County Clerk and ex-officio Clerk of the Board of Supervisors of Contra Costa County, State of California. By M. A. Smith epu yClerk ' 4 05