HomeMy WebLinkAboutMINUTES - 07301985 - 1.43 RESOLUTION OF THE BOARD OF SUPERVISORS
OF CONTRA COSTA COUNTY, STATE OF CALIFORNIA
RESOLUTION NO. 85/443
In the Matter of the Issuance of the )
Mt. Diablo Unified School District )
1968 School Bonds, Series F )
WHEREAS, this Board of Supervisors of Contra Costa
County, State of California (the "County" ) , heretofore on
May 14, 1968, duly passed and adopted its Resolution
No. 68/319 providing for the issuance of $25, 000, 000
principal amount of bonds of the Mt. Diablo Unified School
District (the "District" ) , designated "1968 School Bonds"
(the "Bonds" ) , as set forth in the records of this Board of
Supervisors; and
WHEREAS, in and by said resolution and order said
authorized issue of Bonds was divided into series, of which
$6, 255, 000 principal amount were designated "Series A" and
the issuance and sale thereof was duly authorized and
directed and Series A Bonds in the principal amount of
$6, 255, 000 have heretofore been issued and sold and the
unmatured portion thereof is now outstanding, and $2, 185, 000
principal amount were designated "Series B" and the issuance
and sale thereof was duly authorized and directed and
Series B Bonds in the principal amount of $2, 185, 000 have
heretofore been issued and sold and the unmatured portion
thereof is now outstanding, and $1, 400, 000 principal amount
were designated "Series C" and the issuance and sale thereof
was duly authorized and directed and Series C Bonds in the
principal amount of $1, 400, 000 have heretofore been issued
and sold and the unmatured portion thereof is now
outstanding, and $5, 000, 000 principal amount were designated
"Series D" and the issuance and sale thereof was duly
authorized and directed and Series D Bonds in the principal
amount of $5, 000, 000 have heretofore been issued and sold and
the unmatured portion thereof is now outstanding, and
$3 , 000, 000 principal amount were designated "Series E" and
the issuance and sale thereof was duly authorized and
directed and Series E Bonds in the principal amount of
$3, 000, 000 have heretofore been issued and sold and the
unmatured portion thereof is now outstanding; and
WHEREAS, this Board of Supervisors has received a
certified copy of a resolution duly adopted by the Governing
Board of the District on July 11,1985, prescribing the
principal amount of the remaining Bonds to be sold, to wit,
$7, 160, 000, and directing this Board of Supervisors to
designate the remaining $7, 160, 000 principal amount of the
Bonds of said authorized issue to be sold as Series F; and
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WHEREAS, this Board of Supervisors has determined,
and does hereby declare, that it is necessary that the
remaining $7, 160, 000 principal amount of the Bonds of said
authorized issue be issued and sold for the purposes for
which authorized; and
WHEREAS, all acts; conditions and things required
by law to be done or performed have been done and performed
in strict conformity with the laws authorizing the issuance
of school bonds, and the total amount of indebtedness of the
District, including this proposed issue of Bonds, is within
the limit prescribed by law;
IT IS THEREFORE RESOLVED AND ORDERED BY THE BOARD
OF SUPERVISORS OF CONTRA COSTA COUNTY, AS FOLLOWS:
Section 1 . Said Resolution No. 68/319 providing
for the issuance of $25, 000, 000 principal amount of 1968
School Bonds of the District, adopted by this Board of
Supervisors on May 14, 1968, is incorporated herein by
reference and all of the provisions thereof are made a part
hereof and shall be applicable to the Bonds of said
authorized issue herein provided for, except only as herein
otherwise expressly provided.
Section 2 . Said remaining $7, 160, 000 principal
amount of the Bonds of said authorized issue shall be issued
and sold as hereinafter provided, and said remaining
$7, 160, 000 principal amount of the Bonds shall be known as
the Series F Bonds. The Series F Bonds shall be dated
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" I
f
September 1, 1985, and shall be issued as fully registered
bonds of the denomination of $5, 000 each or any integral
multiple thereof (not exceeding the principal amount of
Series F Bonds maturing at any one time) . The Series F Bonds
shall mature (without option of prior redemption) as set
forth in that one of the following three maturity schedules
for the Series F Bonds which is selected by this Board of
Supervisors after bids have been opened for the sale of the
Series F Bonds, namely:
SCHEDULE A
Principal Maturity
Amount Date
$1, 100, 000 March 1, 1986
1,200, 000 September 1, 1986
1, 200, 000 March 1, 1987
1,260, 000 September 1, 1987
1,200, 000 March 1, 1988
1, 200, 000 September 1, 1988
SCHEDULE B
Principal Maturity
Amount Date
$1, 800, 000 March 1, 1986
1, 900, 000 September 1, 1986
1, 700, 000 March 1, 1987
1, 760, 000 September 1, 1987
SCHEDULE C
Principal Maturity
Amount Date
$3, 500, 000 March 1, 1986
3, 660, 000 September 1, 1986
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The Series F Bonds shall bear interest at the rate
or rates designated by this Board of Supervisors at the time
of sale thereof, but not to exceed five per cent (5%) per
annum, payable semiannually on the 1st days of March and
September of each year until the Series F Bonds are paid.
Both the principalof and interest on the Series F
.Bonds shall be payable in lawful money of the United States
of America at the principal corporate trust office of Bank of
America National Trust and Savings Bank in San Francisco,
California, the Paying Agent of the County for the Series F
Bonds (the "Paying Agent" ) .
Payment of the interest on the Series F Bonds due
on or before their maturity dates shall be made by check
mailed by the Paying Agent to the registered owners thereof
at their addresses as they appear in the registration books
maintained by the Paying Agent pursuant to Section 5 hereof
fifteen ( 15) days prior to each interest payment date.
Payment of the principal of the Series F Bonds due on their
maturity dates shall be made to the registered owners thereof
upon surrender thereof on their maturity dates at the office
of the Paying Agent.
The Series F Bonds shall bear interest from the
interest payment date next preceding the date of
authentication thereof, unless such date of authentication is
an interest payment date, in which event they shall bear
interest from such interest payment date, or unless such date
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of authentication is prior to the first interest payment
date, in which event they shall bear interest from
September 1, 1985; provided, that if at the time of
authentication of any Series F Bond interest is then in
default on the outstanding Series F Bonds, such Series F Bond
shall bear interest from the interest payment date to which
interest has previously been paid or made available for
payment on the outstanding Series F Bonds.
Section 3 . The Series F Bonds and the forms of
certificate of authentication and assignment to appear
thereon shall be substantially in the following forms, the
blanks in said forms to be filled with appropriate words or
figures, namely:
6
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
CONTRA COSTA COUNTY
Number $
MT. DIABLO UNIFIED SCHOOL DISTRICT
1968 SCHOOL BOND, SERIES F
INTEREST MATURITY DATED CUSIP
RATE DATE AS OF NUMBER
September 1, 1985
Mt. Diablo Unified School District of Contra Costa
County, State of California (the "District" ) , acknowledges
itself indebted to and promises to pay to
or registered assigns, on the maturity
date specified above, the principal sum of
DOLLARS
in lawful money of the United States of America, together
with interest thereon in like lawful money from the interest
payment date next preceding the date of authentication of
this Bond (unless this Bond is authenticated as of an
interest payment date, in which event it shall bear interest
from such interest payment date, or unless this Bond is
authenticated prior to the first interest payment date, in
which event it shall bear interest from September 1, 1985)
until this Bond is paid at the interest rate per annum
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. specified above, payable on the 1st days of March and
September of each year from the date hereof.. Both the
principal of and interest on this Bond are payable at the
principal corporate trust office of Bank of America National
Trust and Savings Association in San Francisco, California,
the Paying Agent of the County of Contra Costa (the "County" )
for the Bonds (the "Paying Agent" ) . Interest due- on or
before the maturity date of this Bond is payable by check
mailed by the Paying Agent to the registered owner hereof at
the address shown on the registration books for the Bonds
fifteen ( 15) days prior to each interest payment date, and
the principal hereof is payable to the registered owner
hereof upon surrender hereof on the maturity date of this
Bond at the office of the Paying Agent.
This Bond is one of a duly authorized issue of
Bonds of like tenor (except for such variations, if any, as
may be required to designate varying series, numbers,
denominations, interest rates, maturities, redemption
provisions and forms) amounting in the aggregate to
$25, 000, 000 and is authorized by a vote of more than
two-thirds of the voters voting at an election duly and
legally called, held and conducted in the District on
February 13, 1968, and is issued and sold by the Board of
Supervisors of the County pursuant to and in strict
conformity with the provisions of the Constitution and laws
of said State.
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. The Bonds are authorized to be issued as fully
registered bonds in the denomination of $5, 000 or any
integral multiple thereof (not exceeding the principal amount
of Bonds maturing at any one time) . The registered owner of
any Bond may surrender the- same (together with a written
instrument of transfer satisfactory to the Paying Agent duly
executed by the registered owner or his duly authorized
attorney) in exchange for an equal aggregate principal amount
of Bonds of the same maturity date of any other authorized
denominations, subject to the conditions and terms and upon
payment of the charges provided in the resolution providing
for the issuance of the Bonds.
The registration of this Bond is transferable, as
provided in the resolution providing for the issuance of the
Bonds, only on the registration books for the Bonds kept for
that purpose at the office of the Paying Agent, by the
registered owner hereof in person or by his duly authorized
attorney, upon payment of the charges provided in said
resolution and upon surrender of this Bond accompanied by a
written instrument of transfer satisfactory to the Paying
Agent duly executed by the registered owner or his duly
authorized attorney, and thereupon a new Bond or Bonds of the
same maturity date and of any authorized denominations in the
same aggregate principal amount will be issued to the
transferee in exchange therefor. The County and the Paying
Agent may treat the registered owner hereof as the absolute
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owner hereof for all purposes, whether or not this Bond shall
be overdue, and neither the County nor the Paying Agent shall
be affected by any knowledge or notice to the contrary; and
payment of the interest on and principal of this Bond as
above provided shall be made only to such registered owner,
which payments shall be valid and effectual to satisfy and
discharge the liability represented by this Bond to the
extent of the sum or sums so paid.
This Board of Supervisors hereby certifies and
declares that the total amount of indebtedness of the
District, including the amount of this Bond, is within the
limit provided by law, that all acts, conditions and things
required by law to be done or performed precedent to and in
the issuance of this Bond have been done and performed in
strict conformity with the laws authorizing the issuance of
this Bond, that this Bond is in the form prescribed by order
of this Board of Supervisors duly made and entered on its
minutes and shall be payable out of the interest and sinking
fund of the District, and the money for the redemption of
this Bond and the payment of interest hereon shall be raised
by taxation upon the taxable property of the District.
This Bond shall not be entitled to any benefit,
protection or security under the resolution providing for its
issuance or become valid or obligatory for any purpose until
the certificate of authentication hereon endorsed shall have
been dated and signed by the Paying Agent.
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IN WITNESS WHEREOF, this Board of Supervisors has
caused this bond to be signed by its Chairman and by the
Auditor of the County, and to be countersigned by its Clerk,
and has caused the seal of the Board of Supervisors to be
affixed hereto, the 1st day of September, 1985 .
[ SEAL]
Chairman of Board of Supervisors
of Contra Costa County
Countersigned:
County Auditor of
Contra Costa County
Clerk of the Board of Supervisors
of Contra Costa County
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. [Form of Certificate of Authentication]
This is one of the Bonds described in the
within-mentioned resolution, which has been authenticated and
registered on
BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION,
as Paying Agent
By
Authorized Officer
[Form of Assignment]
For value received the undersigned do (es) hereby
sell, assign and transfer unto
the within-mentioned bond and do (es) hereby irrevocably
constitute and appoint
attorney to transfer the same in the bond register of the
Paying Agent, with full power of substitution in the premises.
Dated:
NOTE: The signature( s) to this Assignment must correspond
with the name( s) as written on the face of the
within bond in every particular, without alteration
or enlargement or any change whatsoever.
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Section 4. The Series F Bonds shall be signed by
the Chairman of this Board of Supervisors and by the Auditor
of the County, and shall be countersigned and the seal of the
Board of Supervisors affixed thereto by the Clerk of this
Board of Supervisors. All such signatures and said
countersignature and said seal may be printed, lithographed,
engraved or otherwise mechanically reproduced. In case any
of such officers whose signature or countersignature appears
on the Series F Bonds shall cease to be such officer before
the delivery of the Series F Bonds to the purchaser, such
signature or countersignature shall nevertheless be valid and
sufficient for all purposes the same as though such officer
had remained in office until the delivery of the Series F
Bonds.
Only those Series F Bonds that shall bear thereon a
certificate of authentication in the form hereinbefore
recited, executed and dated by the Paying Agent, shall be
entitled to any benefit, protection or security hereunder or
be valid or obligatory for any purpose, and such certificate
of the Paying Agent shall be conclusive evidence that the
Series F Bonds so authenticated have been duly authorized,
executed and delivered hereunder and are entitled to the
benefit, protection and security hereof.
Section 5 . Bank of America National Trust and
Savings Association at its principal corporate trust office
in San Francisco, California, is hereby appointed Paying
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Agent of the County for the purpose of paying the interest on
and principal of the Series F Bonds and for the purpose of
performing the other obligations imposed on it in this
resolution. The Paying Agent may at any time resign, which
resignation shall become effective upon the appointment of a
successor Paying Agent. Upon receiving notice of such
resignation the County shall promptly appoint a successor
Paying Agent, except that if no successor Paying Agent shall
have been appointed by the County within thirty (30) days of
receiving such notice, the resigning Paying Agent may
petition any court of competent jurisdiction for the
appointment of a successor Paying Agent. The County may at
any time in its sole discretion remove the Paying Agent
initially appointed and any successor thereto and may appoint
a successor or successors thereto by an instrument in
writing; provided, that the County agrees that it will at all
times maintain a Paying Agent with a principal corporate
trust office in San Francisco, California. The Paying Agent
is hereby authorized to pay interest on the Series F Bonds
due on or before the maturity thereof to the registered
owners thereof as of the fifteenth ( 15th) day immediately
preceding each interest payment date, as their names appear
on the registration books required to be kept by it pursuant
to this section as the registered owners thereof, such
interest to be paid by check mailed to such registered owners
at their addresses appearing on such books or at such other
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addresses as they may have filed with it for that purpose,
and to pay to such registered owners the principal of the
Series F Bonds upon presentation and surrender of the
Series F Bonds to it by such owners at maturity.
The Paying Agent will keep at its principal
corporate trust office in San Francisco, California,
sufficient books for the registration, transfer and exchange
of the Series F Bonds, which books shall at all times be open
to inspection by the County. Upon presentation for such
purpose the Paying Agent shall, under such reasonable
regulations as it may prescribe, register or transfer or
exchange Series F Bonds on such books as hereinafter provided.
Any Series F Bond may be transferred or exchanged
on such books by the registered owner thereof, in person or
by his duly authorized attorney, upon payment by the person
requesting such transfer or exchange of any tax or other
governmental charge required to be paid with respect to such
transfer or exchange and upon surrender of such Series F Bond
for cancellation accompanied by delivery of a duly executed
written instrument of transfer or exchange in a form approved
by the Paying Agent, except that no such transfer or exchange
shall be required to be made during the fifteen ( 15) days
preceding each interest payment date. Whenever any Series F
Bond or Bonds shall be surrendered for transfer or exchange,
this Board of Supervisors shall execute and the Paying Agent
shall authenticate and deliver a new Series F Bond or Bonds
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of authorized denominations and of the same maturity date
aggregating the principal amount of the Series F Bond or
Bonds so surrendered. The County and the Paying Agent may
deem and treat the registered owner of any Series F Bond as
the absolute owner of such Bond for the purpose of receiving
payment thereof and for all other purposes, whether such Bond
shall be overdue or not, and neither the County nor the
Paying Agent shall be affected by any notice or knowledge to
the contrary; and payment of the interest on and principal of
such Series F Bond shall be made only to such registered
owner as above provided, which payment shall be valid and
effectual to satisfy and discharge liability on such Bond to
the extent of the sum or sums so paid.
Section 6. The money for the redemption of the
Series F Bonds and payment of the interest thereon shall be
raised by taxation upon all taxable property in the District,
and provisions shall be made for the levy and collection of
such taxes in the manner provided by law.
Section 7 . The Clerk of this Board of Supervisors
shall cause a notice of the sale of the Series F Bonds to be
published at least two weeks in the Contra Costa Times, a
newspaper of general circulation, printed and published in
the County, and therein advertise for bids for the Series F
Bonds and state that a representative of the Clerk of this
Board of Supervisors will up to Tuesday, the 20th day of
August, 1985, at 10: 00 A.M. of said day, receive sealed bids
16
at the office of Orrick, Herrington & Sutcliffe,
600 Montgomery Street, 12th Floor, San Francisco, California
94111, for the purchase of all the Series F Bonds for cash,
at not less than par and accrued interest, and that this
Board of Supervisors reserves the right to reject any and all
bids for the Series F Bonds; all in accordance with the
Official Notice of Sale of the Series F Bonds attached)
hereto, labeled Exhibit A and incorporated herein.
Additionally, the Clerk of this Board of Supervisors shall
cause a notice of intention to sell the Series F Bonds to be
published once at least fifteen ( 15) days prior to the sale
date for the Series F Bonds in the Western Edition of
The Wall Street Journal, a financial publication generally
circulated throughout the State of California; all in
accordance with the notice attached hereto, labeled Exhibit B
and incorporated herein.
The foregoing resolution and order was passed and
adopted by the Board of Supervisors of Contra Costa County,
State of California, at its regular meeting held this
30th day of July, 1985, by the following vote, to wit:
AYES: Supervisors Powers , McPeak, Torla.kson, Fandeu,
NOES: None.
ABSENT: Supervisor Schroder
Chairmanf the Board of Supervisors
o Contra Costa County
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ATTEST:
Phil -Batchelor
Clerk of the Board of Supervisors
o Cont a Costa County
By Deputy
[ SEAL]
Phil Batchelor Clerk of the Board of
Supervisors of Contra Costa County, do hereby certify that the
foregoing is a full, true and correct copy of the resolution
passed and adopted by the Board of Supervisors of said County at
a regular meeting held on July 30, 1985, and that said resolution
is now spread upon the minutes of said Board.
Phil Batchelor
Clerk of the Board of Supervisors
'44o Cont a Costa County
By L Deputy
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OFFICIAL NOTICE OF SALE
$7, 160, 000
MT. DIABLO UNIFIED SCHOOL DISTRICT
1968 SCHOOL BONDS, SERIES F
NOTICE IS HEREBY GIVEN that sealed proposals will
be received and opened by a representative of the Clerk of
the Board of Supervisors of. Contra Costa County, State of
California, (the "County" ) , at the office of Orrick,
Herrington & Sutcliffe, Twelfth Floor, 600 Montgomery Street,
San Francisco, California 94111, on
TUESDAY, AUGUST 20, 1985
at the hour of 10: 00 A.M. for the purchase of $7, 160, 000
principal amount of bonds of the Mt. Diablo Unified School
District (the "District" ) designated "Mt. Diablo Unified
School District 1968 School Bonds, Series F" (the "Bonds" )
more particularly described below, which Bonds are the
remaining part of a total authorized issue of bonds in the
aggregate principal amount of $25, 000, 000 authorized at an
election held in the District on February 13, 1968, of which
$17, 840, 000 principal amount have heretofore been issued and
sold and the unmatured portion of which is now outstanding.
ISSUE AND $7, 160, 000 principal amount of fully
DENOMINATION: registered bonds of the denomination of
$5, 000 or any integral multiple thereof
(not exceeding the principal amount of
Bonds maturing at any time) .
DATE: The Bonds are dated September 1, 1985 .
MATURITIES: The Bonds mature without option of prior
redemption serially on the dates in each
of the years as set forth in that one of
the following three schedules for the
Bonds which is selected by the Board of
Supervisors of the County after bids
have been opened for the sale of the
Bonds, namely:
EXHIBIT A
SCHEDULE A
Principal Maturity
Amount Date
$1, 100, 000 March 1, 1986
1,200, 000 September 1, 1986
1,200, 000 March 1, 1987
1, 260, 000 September 1, 1987
1,200, 000 March 1, 1988
1, 200, 000 September 1, 1988
SCHEDULE B
Principal Maturity
Amount Date
$ 1, 800, 000 March 1, 1986
1, 900, 000 September 1, 1986
1, 700, 000 March 1, 1987
1, 760, 000 September 1, 1987
SCHEDULE C
Principal Maturity
Amount Date
$ 3 , 500, 000 March 1, 1986
3, 660, 000 September 1, 1986
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INTEREST RATE: Maximum five per cent (5%) per annum,
payable semiannually on March 1 and
September 1 in each year. Bidders must
specify the rate or rates of interest which the Bonds
maturing pursuant to any selected schedule hereby offered for
sale shall bear. Bidders may specify any number of separate
interest rates irrespective of the maturities of the Bonds,
and the same rate or rates may be repeated as often as
desired; provided, however,1 that (i ) each interest rate
specified must be in a multiple of one-twentieth of one per
cent ( 1/20 of 1%) per annum; ( ii ) no Bond shall bear more
than one rate of interest; (iii ) each Bond shall bear
interest from its date to its stated maturity date at the
interest rate specified in the bid; (iv) all Bonds of the
same maturity shall bear the .same rate of interest; and (v)
any premium must be paid in bank funds as part of the
purchase price, and no bid will be accepted which provides
for the waiver of any interest or other concession by the
bidder as a substitute for bank funds. Bids which do not
conform to the terms of this paragraph will be rejected.
PAYMENT: The principal of the Bonds is payable in
lawful money of the United States of America
at the principal corporate trust office of
Bank of America National Trust and Savings Association in San
Francisco, California, the Paying Agent of the County, upon
surrender thereof on their maturity dates at the office of
the Paying Agent. The interest on the Bonds will be payable
in like lawful money by check mailed to the registered owners
of the Bonds shown on the registration books of the Paying
Agent fifteen ( 15) days prior to each interest payment date.
REGISTRATION The Bonds will be issued in fully
OF BONDS: registered form, and may be transferred
or exchanged on the registration books
for the Bonds maintained by the Paying Agent.
PURPOSE OF ISSUE: The Bonds are authorized by vote of
two-thirds of the qualified voters of
the District voting at a special bond
election for the purpose of authorizing bonds for authorized
school purposes.
SECURITY: The Bonds are general obligations of the
District and the Board of Supervisors of
the County has power and is obligated to
levy ad valorem taxes for the payment of the Bonds and the
interest thereon upon all property within the District
subject to taxation by the District (except certain personal
property, which is taxable at limited rates) , without
limitation of rate or amount.
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TAX EXEMPT In the event that prior to the delivery
STATUS: of the Bonds (i ) the income received by
any private holder from bonds of the
same type and character shall be
declared to be taxable (either at the time of such
declaration or at any future date) under any federal income
tax laws, either by the terms of such laws or by ruling of a
federal income tax authority or official which is followed by
the Internal Revenue Service, or by decision of any federal
court, or (ii ) any federal income tax law is adopted which
will have a substantial adverse tax effect on holders of the
Bonds as such, the successful bidder may, at his option,
prior to the tender of the Bonds by the County, be relieved
of his obligation under the contract to purchase the Bonds
and in such case the deposit accompanying his bid will be
returned.
LEGAL OPINION: The legal opinion of Orrick, Herrington
& Sutcliffe, of San Francisco,
California, approving the validity of
the Bonds, will be furnished to the successful bidder without
charge. A copy of the legal opinion, certified by the
officer in whose office the original is filed, will be
printed on each Bond without charge to the successful bidder.
TERMS OF SALE
Schedule Pursuant The Bonds will be issued under the
to Which the Bonds schedule having the longest maturity for
Will be Issued: which any bid is received for the Bonds.
Highest Bid: The Bonds will be awarded to the highest
bidder in the selected schedule for the
Bonds, considering the interest rate or
rates specified and the premium offered,
if any. The highest bid will be determined by deducting the
amount of the premium bid ( if any) from the total amount of
interest which the County would be required to pay from the
date of the Bonds to their respective maturity dates at the
interest rate or rates specified in the bid, and the award
will be made on the basis of the lowest net interest cost to
the County. The purchaser must pay accrued interest from the
date of the Bonds to the date of delivery. All interest will
be computed on a 360-day year basis. The cost of printing
the Bonds will be borne by the County.
Right of The Board of Supervisors of the County
Rejection: reserves the right, in its discretion,
to reject any and all bids and to waive
any irregularity or informality in any bid.
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Prompt Award: The Board of Supervisors of the County
will take action awarding the Bonds or
rejecting all bids not later than 26
hours after the expiration of the time herein prescribed for
the receipt of proposals, unless such time of award is waived
by the successful bidder.
Prompt Delivery of the Bonds will be made to
Delivery: the successful bidder at the principal
corporate trust office of the Paying
Agent in San Francisco, California, as
soon as the Bonds can be prepared, which delivery date is
currently scheduled for September 3, 1985 . Payment for the
Bonds must be made in bank funds immediately available to the
County in San Francisco, California. The successful bidder
shall deliver to the Paying Agent five (5) business days
prior to the delivery date of the Bonds a notice stating the
names of the registered owners in whose names the Bonds are
to be registered (and their addresses for the mailing of
interest payments) and the denominations in which the Bonds
of each maturity date are to be initially issued. If the
successful bidder fails to submit to the Paying Agent such
names, addresses and denominations within the required time,
one Bond will be issued for each maturity date, in the full
amount maturing on that maturity date, and the Bonds will be
registered in the name of the successful bidder.
Right of The successful bidder shall have the
Cancellation: right, at his option, to cancel the
contract of purchase if the County shall
fail to execute the Bonds and tender the
same for delivery within sixty (60) days from the date of
sale thereof, and in such event the successful bidder shall
be entitled to the return of the deposit accompanying his bid.
Form of Bid: Each bid must be for not less than all
the Bonds hereby offered for sale and
must designate the schedule to which it
relates, and must be for not less than the par value thereof
and accrued interest to date of delivery. Each bid, together
with bidder' s check, must be enclosed in a sealed envelope
addressed to the Clerk of the Board of Supervisors of the
County and endorsed "Proposal for Mt. Diablo Unified School
District 1968 School Bonds, Series F" . All bids must be
delivered to the representative of the Clerk of the Board of
Supervisors of the County at the office of Orrick, Herrington
& Sutcliffe, Twelfth Floor, 600 Montgomery Street, San
Francisco, California 94111, in time to be received by 10: 00
A.M. on August 20, 1985 .
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Bid Check: With each bid must be submitted a
certified check or cashier' s check for
$100, 000 drawn on a bank or trust company
transacting business in the State of California, payable to
the order of the Treasurer of the County, to secure the
County from any loss resulting from the failure of the bidder
to comply with the terms of his bid. Checks of all bidders
(except the successful bidder) will be returned by the County
by mail promptly following the sale date above specified. No
interest will be paid upon the deposit made by any bidder.
Estimate of Net Bidders are requested, but not required,
Interest Cost: to supply an estimate of the total net
interest cost to the County on the basis
of their respective bids, which shall be
considered as informative only and not binding on either the
bidder or the County.
CUSIP Numbers: It is anticipated that CUSIP numbers
will be printed on the Bonds, but
neither failure to print such numbers on
any Bond nor any error with respect thereto shall constitute
cause for a failure or refusal by the purchaser thereof to
accept delivery of and pay for the Bonds in accordance with
the terms of the purchase contract. All expenses in relation
to the assignment and printing of CUSIP numbers on the Bonds
shall be paid by the County.
California Attention of bidders is directed to
Debt Advisory California Government Code Section 8856,
Commission Fee: which provides that the successful
bidder for the Bonds will be charged the
California Debt Advisory Commission fee, which is 1/40th of 1
per cent of the principal amount of the Bonds.
Official The District has caused an Official
Statement: Statement to be prepared, copies of
which may be obtained upon request made
to the District' s financing consultant,
BankAmerica Capital Markets Group, Bank of America National
Trust and Savings Association, Public Finance #3295, Post
Office Box 37003, San Francisco, California 94137, Attention:
Mr. Thomas McQueen. The District will furnish to the
successful bidder, at no expense to the successful bidder,
100 copies of the Official Statement for use in connection
with any resale of the Bonds.
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There is no controversy or litigation pending
concerning the validity of the above issue, the corporate
existence of the County or the District, or the title of the
officers of the County to their respective offices, and the
County will furnish to the successful bidder a no-litigation
certificate certifying to the foregoing as of and at the time
of the delivery of the Bonds.
Dated: July 30, 1985
Clerk of the Board of Supervisors
of Contra Costa County, State of
California
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NOTICE OF INTENTION TO SELL
$7, 160, 000
MT. DIABLO UNIFIED SCHOOL DISTRICT
1968 SCHOOL BONDS, SERIES F
NOTICE IS HEREBY GIVEN that the Board of
Supervisors of Contra Costa County, State of California (the
"County" ) , intends to offer for public sale on Tuesday,
August 20, 1985, at 10: 00 A.M. at the office of Orrick,
Herrington & . Sutcliffe, Twelfth Floor, 600 Montgomery Street,
San Francisco, California 94111, $7, 160, 000 principal amount
of bonds of the Mt. Diablo Unified School District designated
"1968 School Bonds, Series F" (the "Bonds" ) .
NOTICE IS HEREBY FURTHER GIVEN that the Bonds will
be offered for public sale subject to the terms and
conditions of the Official Notice of Sale for the Bonds, and
copies of the Official Notice of Sale and the Official
Statement relating to the Bonds will be furnished upon
request to BankAmerica Capital Markets Group, Bank of America
National Trust and Savings Association, Public Finance #3295,
EXHIBI� B
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Post Office Box 37003, San Francisco, California 94137,
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Attention: Mr. Thomas McQueen.
Dated:- July 30, 1985 .
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Clerk of the Board of
Supervisors of Contra Costa
County, State of California
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