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HomeMy WebLinkAboutMINUTES - 12101991 - 1.4 RESOLUTION NO. RESOLUTION APPROVING AGREEMENT FOR ENGINEERING SERVICES REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) The Board of Supervisors of the County of Contra Costa resolves: This Board approves that certain agreement between the County of Contra Costa, and NYSTROM ENGINEERING, for services as Engineer of Work for Reassessment District NO. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of Contra Costa, California, dated the 10th day of December, 1991 and is on file with the Clerk of the Board of Supervisors. The Chairman of .the Board is authorized to sign the agreement and the Clerk of the Board is authorized to attest its execution. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: Opp SU PER ViSU PHIL BATCHELOR, Clerk of the *,:•fY ' Board of Supervisors and County Administrator +; By rA CTA COUN'� r w AGREEMENT FOR ENGINEERING SERVICES REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) This is an agreement for engineering services between the. County of Contra Costa, a political subdivision of the State of California, referred to as- Client, and NYSTROM ENGINEERING, referred to as Engineer. 1. Client retains Engineer as Engineer of Work for Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of Contra Costa, California, to assist in the preparation of the reassessment report as required by Section 9523 of the Streets and Highways Code (Refunding Act of 1984 for 1915 Improvement Act Bonds) . 2 . Inconsideration of the services set forth in paragraph 1, Client shall pay to Engineer the amount of $14 , 000. 00 within 30 days after delivery of refunding bonds in the reassessment proceedings. In the event no bonds are delivered, Engineer shall be paid no fee. Dated: December 10, 1991 ¢O f oSU PI:R v�Si RS . CONTRA COSTA COUNTY, a politi subdivision of he S ate of California t By Chairman CESTA COUNT ATTEST: Clerk of the Board of Supervisors and County Administrator By QQV-a�, NYSTROM ENGINEERING �. BY Engineer of Work on D RESOLUTION NO. RESOLUTION APPROVING AGREEMENT FOR FINANCIAL ADVISORY SERVICES REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) The Board of Supervisors of the County of Contra Costa resolves: As part of the proceedings for Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of Contra Costa, California, this Board approves that certain agreement between the County of Contra Costa, and LIBERTY PUBLIC FINANCIAL ADVISORS, dated December 10, 1991, and on file with the Clerk of the Board of Supervisors. The Board authorizes Liberty Public Financial Advisors to obtain an offer for the purchase of refunding bonds for presentation to the Board of Supervisors. The Chairman of the Board is authorized to sign the agreement and the Clerk of the Board is authorized to attest its execution. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held- on the 10th day of December, 1991. ATTEST: of SUPER V PHIL BATCHELOR, Clerk of the *i`�Ro '•t Board of Supervisors and County Administrator By r� - •02 AGREEMENT FOR FINANCIAL ADVISORY SERVICES REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA ASSESSMENT DISTRICT NO. 1985-3) This is an agreement for financial advisory services between the COUNTY OF CONTRA COSTA, a political subdivision of the State of California, referred to as Client, and LIBERTY PUBLIC FINANCIAL ADVISORS, Pleasanton, California, referred to as Financial Advisor. 1 . Client retains Financial Advisor as financing consultant to perform the following consulting services relating to Reassessment District No . 1991-2 (Refunding Wayside Plaza Assessment District No. 1985-3) , County of Contra Costa, State of California . (a) present the potential alternatives in financing the proposed project . (b) conduct due diligence by reviewing all existing information regarding outstanding debt, bond covenants, prior debt repayment, and appropriate ordinances or resolutions, including the engineering, architectural, planning, legal and financial information regarding the project . (c) assist in the selection of other financing team members as requested, . including the trustee, printer, and underwriter. (d) recommend a reserve fund, capitalized interest, and costs of issuance . (e) recommend specific terms for the securities including maturity schedules, call features, refunding protection, and others . (f) prepare a set of financing documents and prepare an official statement for use in the marketing of the bonds . (g) recommend the timing of the marketing of the bond issue based on the conditions in the market . (h) recommend to the issuer which method of sale should be chosen to market the bonds . (i) in a competitive sale, prepare and distribute notice .of sale of bonds and official statement to prospective bidders . (j) review bids and recommend which bid from a qualified bidder produces the lowest net interest costs . (k) or in a negotiated sale, recommend an underwriter (s) , and supervise the underwriter (s) as bonds are being marketed, getting information as to actual method of sales . (1) review recent and comparable market interest rates and recommend whether interest rates and other terms in the final bond purchase contract are competitive . (m) and in either type of sale, aid in the closing preparations and attend the closing. 2 . The services of Financial Advisor under this agreement shall not include the following: , (a) Underwriting the bond issue . 3 . In consideration. of the services set forth in paragraph 1, Client shall pay to Financial Advisor the following fees and costs : (a) The fee of Financial Advisor shall be a fixed fee as set forth in the engineer' s report as finally approved under Section 10312 of the Streets and Highways Code . (b) The fee of Financial Advisor shall be the amount of $27, 500 . 00 . . (c) Costs shall be reimbursed to Financial Advisor as follows : 1) Cost of printing and distribution of the official statement, notice to bidders, and other official documents . 2) Costs of Federal Express or similar delivery service . The cost of other services for which Financial Advisor makes arrangements under this agreement (such as Underwriter' s Discount, Official Statement printing costs) shall be billed to the Client and shall be paid by Client directly to the payee. (d) Payment by Client of the financial advisory fee is contingent upon the sale of bonds representing unpaid assessments in the district . If for any reason, bonds are not sold, Financial Advisor shall be paid no fee. Both the fee and costs are payable upon delivery of the bonds . 4 . Financial Advisor certifies that it has no interest, either direct or contingent, in any property or contract arising from or affected by the assessment district, except as Financial Advisor under this agreement . Financial Advisor does not represent any owner of property within the proposed boundaries of this assessment district, and has not received a fee from any .source for services connected /�_�with the project . DATED : � ��°�rn � %y , 1991 CONTRA COSTA COUNTY, a political ,�OpF SU PLR V�SU'QS' subdiv of the State of California P Chairman of the Board of Supervisors :F �'COSTA COUN'�`ry ATTEST: By �{ t Clerk oV th Board S ervisors LIBERTY PUBLIC FINANCIAL ADVISORS By Nadi e McKinney Lee 1 By Charles A. Lee ft RESOLUTION NO. q� RESOLUTION APPROVING AGREEMENT FOR LEGAL SERVICES REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) The Board of Supervisors of the County of Contra Costa resolves: This Board approves that certain agreement between the County of Contra Costa, and STURGIS, NESS, BRUNSELL & SPERRY a professional corporation, for services of that firm as Special Bond Counsel for Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of Contra Costa, California, dated December 10, 1991, and on file with the Clerk of the Board of Supervisors. The Chairman of the Board is authorized to sign the agreement and the Clerk of the Board is authorized to attest its execution. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: rpt pF SUPER PHIL BATCHELOR, Clerk of the Board of Supervisors and County Administrator , _ � . _�•--' :' •-�,�� -l--'i��";rte B r R�• �✓rte` / Sri couti'� S AGREEMENT FOR LEGAL SERVICES REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) COUNTY OF CONTRA COSTA This is an agreement for legal services between the County of Contra Costa, a political subdivision of the State of California, referred to as Client, and STURGIS, NESS, BRUNSELL & SPERRY a professional corporation, Attorneys at Law, Emeryville, California, referred to as Bond Counsel. . 1. Client retains Bond Counsel as special counsel to perform the following legal services relating to Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of Contra Costa, California. (a) Preparation of all forms of resolutions, notices, affidavits, and other documents required by the Refunding Act of 1984 for 1915 Improvement Act Bonds (the "Act") , including the legal format of the engineer' s report required by Section 9523 . (b) The preparation of written instructions to Client ' s Clerk and other staff members concerning the performance of legally-required duties. (c) Review of documents prepared by Client' s engineering staff or consulting engineers, including reassessment diagram and reassessment roll. (d) Attendance at all public meetings of Client at which matters relating to the reassessment district are considered, except routine matters. (e) Attendance at staff meetings or meetings of property owners, upon the request of the Client, after reasonable notice. (f) Telephone consultation with staff members and property owners to answer legal questions about the reassessment proceedings. (g) Arrangements for the printing of refunding bonds to represent unpaid reassessments. (h) The preparation of a record of assessment installments for the use of the County Auditor, if required. (i) Arrangements for the sale of refunding bonds either by negotiation or by public bid, at the 1 option of Client, including a review of financial disclosure requirements and, if required, the preparation of the notice inviting bond bids. (j) The preparation of bond delivery documents. (k) The rendition of a legal opinion on the validity of the refunding bonds and the proceedings leading to their issuance. (1) Preparation of a transcript of the legal proceedings in loose-leaf form for the use of the Client. (m) Preparation of the required reports to the California Debt Advisory Commission (pursuant to Section 8855 et seq. of the Government Code) and to the Internal Revenue Service (pursuant to Section 149 of the Internal Revenue Code of 1986) . 2 . The services of Bond Counsel under this agreement shall not include the following: (a) Legal services in connection with the acquisition of interests in real property, either through negotiation or through exercise of the power of eminent domain. (b) Legal services in connection with litigation. The performance by Bond Counsel of services excluded by this paragraph, if required by Client, shall be under separate oral or written agreement. 3 . In consideration of the services set forth in paragraph 1, Client shall pay to Bond Counsel the following fee and costs: . (a) The legal fee shall be an amount equal to one and one-quarter percent (1 1/40) of that portion of the amount assessed not exceeding $1 million, plus one-half of one percent (1/2%) of that portion of the amount assessed exceeding $1 million. (b) Costs shall be reimbursed to Bond Counsel as follows: 1) . Filing and recording fees and publication costs advanced on behalf of Client. 2) The cost of preparing auditor's record, if required: 7 cents per assessment for each year of the bond issue, with a minimum of $30. 00. 2 3) Costs of Federal Express or similar delivery service. 4) Cost of preparation of notices to property owners. The cost of other services for which Bond Counsel makes arrangements under this agreement (such as bond printing costs) shall be billed to the Client and shall be paid by Client directly to the payee. (c) Payment by Client of the legal fee is contingent upon the levy of reassessments and the sale and delivery of improvement bonds representing unpaid reassessments in the reassessment district. If for any reason, reassessments are not confirmed and bonds delivered, Bond Counsel shall be paid no legal fee. Both the legal fee and costs are payable upon delivery of the bonds. 4 . Bond Counsel certifies that it has no interest, either direct or contingent, in any property or contract arising from or affected by the reassessment district, except as Bond Counsel under this agreement. Bond Counsel does not represent any owner of property within the proposed boundaries of this reassessment district, and has not received a fee from any source for services connected with the project. DATED: December 10, 1991 op s�:R tr,u COUNTY OF CONTRA COSTA, a * ' •, politi subdivision of f '` the S ate o Califo is 9 y ^.G ci`°y Chairman o-TA covN ATTEST: Clerk of the Board of Supervisors and County Administrator By STURGIS, NESS, BRUNSELL & SPERRY a professional corporation By Aa uJ Robert Brunsell 3 RESOLUTION NO. 7�S RESOLUTION OF INTENTION TO CONDUCT REASSESSMENT PROCEEDINGS REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) The Board of Supervisors of the County of Contra Costa resolves: This Board of Supervisors hereby determines that the public interest or necessity requires the refunding of all outstanding bonds previously issued as Series No. 1985-3 , dated December 23 , 1985, Contra Costa County, Assessment District No. 1985-3 , Wayside Plaza. This Board of Supervisors hereby declares its intention to refund said outstanding bonds and to levy reassessments pursuant to the Refunding Act of 1984 for 1915 Improvement Act Bonds (the "Act") as security for said refunding bonds. This Board of Supervisors hereby directs NYSTROM ENGINEERING to prepare and file with the Clerk of the Board of the County of Contra Costa, a written report containing each of the items specified by Section 9523 of the Act. The reassessment shall include an allowance for the establishment of a special reserve fund as provided by Section 9620 of the Streets and Highways Code. Bonds representing unpaid reassessments, and bearing interest at a rate not to exceed twelve percent (12%) per annum, will be issued in the manner provided by the Act, and the last installment of the bonds shall mature thirteen (13) years from the 2nd day of September next succeeding twelve (12) months from their date. The County will not obligate itself to advance available funds from the County Treasury to cure any deficiency which may occur in the bond redemption fund. A determination not to obligate itself shall not prevent the County from; in its sole discretion, so advancing funds. The procedure for the collection of reassessments and advance retirement of bonds under the Act shall be as provided in Part 11. 1, Division 10, of the Streets and Highways Code of the State of California. The amount of any surplus remaining after completion of the refunding shall be transferred to the reserve fund for the refunding bonds. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: PHIL BATCHELOR, Clerk of the Board of Supervisors and .r' County Administrator By CG� a A CO 2 RESOLUTION NO. RESOLUTION APPROVING REASSESSMENT REPORT AND ORDERING REASSESSMENTS REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) The Board of Supervisors of the County of Contra Costa resolves: The Engineer of Work filed the written report prescribed by Section 9523 of the Streets and Highways Code. On the basis of the information set forth in the Report, this Board of Supervisors hereby finds and determines that the three conditions specified by Section 9525 of the Streets and Highways Code are satisfied. Accordingly, this Board of Supervisors is authorized to proceed with approval and confirmation of the report and with authorized issuance and sale of the proposed refunding bonds without notice to the affected landowners or hearing on the report. This Board hereby approves and confirms the Reassessment Report, including Exhibits A through H thereof. All assessments originally levied in Assessment District 1985-3 , Wayside Plaza shall be deemed supplanted and superseded by the reassessments proposed hereby, except for unpaid installments of principal and interest due and payable during or before fiscal year 1991-92 . Bonds representing unpaid reassessments, and bearing interest at a rate not to exceed twelve (12) percent (12%) per annum, shall be issued in accordance with the terms and conditions of the Refunding Act of 1984 for 1915 Improvement Act Bonds (the "Act") , and the last installment of the bonds shall mature thirteen (13) years from the 2nd day of September next succeeding twelve (12) months from their date. The reassessments and interest thereon shall be collected in the manner prescribed by the Act and are subject to reassessment, amendment, and prepayment, all in accordance with the provisions of the Act and the related provisions of the Improvement Bond Act of 1915 which are incorporated therein. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: PHIL BATCHELOR, Clerk of the *;•f =! , Board of Supervisors and County Administrator By CESTA COUNT Lry J 2 RESOLUTION NO. RESOLUTION AUTHORIZING COUNTY TREASURER TO APPROVE OFFICIAL STATEMENT REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) The Board of Supervisors of the County of Contra Costa resolves: As a part of the proceedings for the sale of refunding bonds in Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of Contra Costa, California, this Board hereby authorizes the County. Treasurer to approve a Preliminary Official Statement for Reassessment District No. 1991-2 (Refunding Wayside Plaza A. D. No. 1985-3) , and a Final Official Statement derived substantially therefrom. Distribution of the Preliminary Official Statement and the Final Official Statement is hereby authorized. The Preliminary Official Statement is to be final except for certain information which will not be known until the time of sale and will therefore be "deemed final" within the meaning of Rule 15c2-12 of the Securities and Exchange Commission. f I I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: �p UFSiRV;gU� PHIL BATCHELOR, Clerk of the Board of Supervisors and «; , County Administrator By ! c�rA couK� 2 9 / / c CORRECTED COPY! PLEASE DESTROY PREVIOUS ISSUE i i RESOLUTION NO. RESOLUTION AUTHORIZING ISSUANCE OF REFUNDING BONDS REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) The Board of Supervisors of the County of Contra Costa resolves: Section 1. RECITALS. On December 10, 1991, the Board of Supervisors of the County of Contra Costa adopted its resolution of intention to conduct reassessment proceedings and issue refunding bonds in Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , County of Contra Costa, California, under the provisions of the Refunding Act of 1984 for 1915 Improvement Act Bonds (the "Act") . Proceedings taken under the Act led to the levy of reassessments by the Board of Supervisors against parcels of land within the reassessment district in the total amount of $2 , 010, 000. 00. These reassessments will be recorded in the office of the County Recorder of Contra Costa County, and thereupon will become a lien on each of the reassessment parcels. The refunding bonds are being issued in the amount of the total reassessment. Section 2 . ISSUANCE OF BONDS. The Board of Supervisors hereby authorizes the issuance of refunding bonds under the provisions of the Act to be secured by the reassessments. Each bond shall be designated, "Limited Obligation Refunding Bond, County of Contra Costa, Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) , Series No. 1991-211 . In all respects not specified in this resolution, the bonds shall be issued in the manner prescribed by the Act. Bonds shall be issued in denominations of $5000 or integral multiples thereof, and shall be dated December 30, 1991. Bonds shall mature in principal amounts as set forth in the table attached as Exhibit A. Bonds shall mature and shall bear interest at the rates set forth in the Bond Purchase Agreement. Section 3 . APPOINTMENT OF PAYING AGENT, REGISTRAR, TRANSFER AGENT AND FISCAL AGENT. The Board of Supervisors hereby appoints the Bank of America National Trust and Savings Association as paying agent, registrar and transfer agent (the "Bank") for the bonds in accordance with the agreement between the County and the Bank. Section 4 . FORM AND EXECUTION. Bonds shall be issued as fully registered bonds substantially in the form set forth as Exhibit B to this resolution. The bonds shall be signed by the County Clerk and the County Treasurer and the seal of the County shall be affixed. Both signatures and seal may be reproduced on the bonds by facsimile, but upon its registration or reregistration each bond shall be authenticated by the manual signature of the Bank. The Bank shall assign to each bond authenticated and registered by it a distinctive letter, or number, or letter and number, and shall maintain a record thereof which .shall be available to the County for inspection. Section 5. ESTABLISHMENT OF SPECIAL FUNDS. For administering the proceeds of the sale of bonds and payment of interest and principal on the bonds, there are hereby established five funds to be known as the refunding fund, the redemption fund, the special reserve fund, the investment earnings fund, and 2 /--7 c D the arbitrage rebate fund, respectively, for Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985- 3) . Section 5. 1. REFUNDING FUND. Except as provided in Section 5. 3 , proceeds of sale of the bonds, together with the redemption fund and special reserve fund for the outstanding bonds (the "Prior Bonds") for Assessment District No. 1985-3 , Wayside Plaza shall be deposited in the refunding fund to be maintained by the County Treasurer. Disbursements from the refunding fund shall be made by the County Treasurer in accordance with the budget of estimated costs and expenses set forth in the reassessment report heretofore approved by the Board of Supervisors, which report and budget are subject to modification by the Board of Supervisors from time to time as prescribed by the Act. Any surplus remaining in the refunding fund after the retirement of all bonds of the refunded issue shall be transferred to the reserve fund. Section 5.2 . REDEMPTION FUND. The redemption fund shall be maintained by the County Treasurer. All payments of principal and interest installments on the reassessments, together with penalties, if any, shall be deposited in the redemption fund, which shall be a trust fund for the benefit of the bondholders. Payment of the bonds at maturity, or at redemption before maturity, and all interest on the bonds shall be made from the redemption fund. Section 5. 3 . SPECIAL RESERVE FUND. The special .reserve fund shall be maintained by the County Treasurer. There shall be deposited into the special reserve fund the amount of 3 $60, 300. 00 (the "Reserve Requirement") from the proceeds of the sale of bonds. The special reserve fund shall be administered as follows: A. During the term of the bonds, the amount in the special reserve fund shall be available for transfer into the redemption fund in accordance with Section 9620 of the Streets and Highways Code, to the extent of delinquencies in the payment of reassessments (or delinquencies, if any, in the assessments replaced by the reassessments) . The amount so advanced shall be reimbursed to the special reserve fund from the proceeds of redemption or sale of the parcel for which payment of delinquent reassessment installments was made from the special reserve fund. B. If any reassessment is prepaid before final maturity of the bonds, the amount of principal which the assessee is required to prepay shall be reduced by an amount which is in the same ratio to the original amount of the special reserve fund as the original amount of the prepaid reassessment bears to the total amount of reassessments originally levied in Reassessment District No. 1991-2 (Refunding Wayside Plaza A.D. No. 1985-3) . This reduction in the amount of principal prepaid shall be balanced by a transfer from the special reserve fund to the redemption fund in the same amount. C. The amounts deposited in the reserve fund will never exceed 10% of the proceeds of the bond issue. Proceeds of investment of the special reserve fund shall be deposited in the investment earnings fund. D. When the amount in the special reserve fund equals or exceeds the amount required to retire the remaining unmatured 4 bonds (whether by advance retirement or otherwise) , the amount of the special reserve fund shall be transferred to the redemption fund, and the remaining installments of principal and interest not yet due from assessed property owners shall be cancelled without payment. Section 5. 4 . INVESTMENT EARNINGS FUND. Proceeds of the investment of amounts in the refunding fund (except proceeds to be used for retirement of the refunded bonds) , and the special reserve fund will be deposited in the investment earnings fund. On September 2 of each year during the term of the bonds (or at other times as may be required or permitted by regulations of the United States Internal Revenue Service) , the County Treasurer shall determine whether any portion of investment earnings must be rebated to the United States pursuant to Section 148 of the United States Internal Revenue Code and regulations adopted thereunder. Any amounts required to be rebated will be transferred to the arbitrage rebate fund, and the balance will be transferred as follows: (a) To the extent that the balance in the special reserve fund is less than the Reserve Requirement, a transfer will be made from the investment earnings fund to the special reserve fund. (b) The remaining balance .in the investment earnings fund, if any, will be transferred to the redemption fund to be used, in the discretion of the County Treasurer, as a credit upon the annual installments of reassessments or for the advance retirement of bonds. 5 The County Treasurer is authorized to retain independent attorneys, accountants and other consultants to assist in complying with Federal requirements. Section 5. 5. ARBITRAGE REBATE FUND. Amounts in the arbitrage rebate fund shall be invested in the same manner as amounts in the other funds and shall be held in trust for rebate to the United States at the times required by Section 148 of the United States Internal Revenue Code and regulations adopted thereunder. Section 5. 6 RETURN OF UNCLAIMED FUNDS. Other provisions of this resolution to the contrary notwithstanding, the Bank shall return to the County any funds held by it hereunder not later than thirty (30) days before those funds would escheat to the State of California under any law now or hereafter enacted. Section 6. PAYMENT ON BONDS. The principal and interest on the bonds shall be payable at the office of the Bank of America National Trust and Savings Association, Corporate Agency Division, P.O. Box 37000, San Francisco, California 94137. Principal and interest shall be paid by check, draft or warrant mailed to the registered owner of each bond at the owner's address appearing on the register maintained by the Bank on the 15th day preceding the date of interest payment or maturity of each bond. Section 7. REREGISTRATION. Any bond may be registered to a new owner by completing the assignment certificate on the reverse of the bond and delivering the bond to the Bank. Upon reregistration, any bond may be replaced by one or more bonds of 6 a the same maturity and aggregate amount in denominations of $5000 or any integral multiple thereof. Section 8 . COVENANTS. In the event of a default in the payment of any bond or any installment of interest thereon, bondholders shall have the remedies set forth in the Act. In addition, the Board of Supervisors makes the following covenants, which shall constitute a contract with the bondholders: Section 8. 1. FORECLOSURE OF LIENS. Not later than October 1 in any year, the County shall file an action in the Superior Court to foreclose the lien of each delinquent 0 reassessment if the sum of uncured reassessment delinquencies for the preceding fiscal year exceeds five percent (5%) of the reassessment installments posted to the tax roll for that fiscal year, and if the amount of the special reserve fund is less than the Reserve Requirement. Section 8. 2 . ARBITRAGE. During the term of the bonds, the County will make no use of bond proceeds which, if such use had been reasonably expected at the date the bonds are issued, could have caused the bonds to be "arbitrage bonds" within the meaning of Section 148 of the United States Internal Revenue Code of- 1986, and regulations of the Internal Revenue Service adopted thereunder; and further shall rebate to the United States any amounts actually earned as arbitrage in accordance with the provisions of that Code and those regulations. Section 8. 3 . MAINTENANCE OF TAX EXEMPTION. The County will take all reasonable actions required to maintain the status of the bonds as bonds exempt from federal income taxes and State of California personal income taxes. 7 wt t� t I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST• PHIL BATCHELOR, Clerk of the Board of Supervisors and *; * County Administrator Y 8 MATURITY SCHEDULE OF BONDS CONTRA COSTA Wayside Plaza A.D. No. 1985-3 Reassessment Bonds mature on September 2 in the years and amounts, and bear interest at the annual rates, set forth below. YEAR FACE AMOUNT RATE(%) 1993 120, 000. 00 6.750 1994 95, 000.00 7 . 000 1995 100, 000.00 7.000 1996 105, 000. 00 7. 000 1997 115, 000. 00 7.000 1998 125, 000. 00 7. 000 1999 135, 000. 00 7. 000 2000 145, 000. 00 7. 000 2001 150, 000. 00 7. 000 2002 160, 000. 00 7 . 100 2003 170, 000. 00 7. 100 2004 185, 000. 00 7.200 2005 195, 000. 00 7.200 2006 210, 000. 00 7. 200 TOTAL: 2, 010, 000. 00 EXHIBITA United States of America State of California County of Contra Costa REGISTERED REGISTERED Number $ LIMITED OBLIGATION REFUNDING BOND COUNTY OF CONTRA COSTA REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) SERIES NO. 1991-2 INTEREST RATE MATURITY DATE BOND DATE CUSIP NUMBER REGISTERED OWNER: PRINCIPAL SUM: Under and by virtue of the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the Streets and Highways Code, (the "Act") , the County of Contra Costa, State of California, (the "County") , will, out of the redemption fund for the payment of the bonds issued upon the unpaid portion of reassessments made for the refunding of all outstanding 1915 Act bonds in Assessment District No. 1985-3, Wayside Plaza more fully described in the Resolution of Intention adopted by the Board of Supervisors of the County of Contra Costa on the 10th day of December, 1991, pay to the registered owner stated above or registered assigns, on the maturity date stated above, the principal sum stated above, in lawful money of the United States . of America and in like manner will pay interest from the interest payment date next preceding the date on which this Bond is authenticated, unless this Bond is authenticated and registered as of an interest payment date, in which event it shall bear interest from such interest payment date, or unless this Bond is authenticated and registered prior to March 2, 1993, in which event it shall bear interest from its date, until payment of such principal sum shall have been discharged, at the rate per annum stated above, payable semiannually on March 2 and September 2 in each year commencing on March 2, 1993 . Both the principal hereof and redemption premium hereon are payable at the the principal corporate trust office of Bank of America National Trust and Savings Association-Corporate Agency Division, or its successor, as Paying Agent, Registrar and Transfer Agent, in San Francisco, California (the "Bank") , and the interest hereon is payable by check mailed to the owner hereof at the owner's address as it appears on the registration books of the Bank, or at such address �11BIT 13 r ' as may have been filed with the Bank for that purpose, as of the fifteenth day immediately preceding each interest payment date. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH IN THE REVERSE SIDE HEREOF WHICH SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH HEREIN. This Bond will continue to bear interest after maturity at the rate above stated, provided, it is presented at maturity and payment thereof is refused upon the sole ground that there are not sufficient moneys in said redemption fund with which to pay same. If it is not presented at maturity, interest thereon will run until maturity. This Bond shall not be entitled to any benefit under the Act or the Resolution Authorizing Issuance of Refunding Bonds (the "Resolution of Issuance") , or become valid or obligatory for any purpose, until the certificate of authentication and registration hereon endorsed shall have been dated and signed by the Bank. IN WITNESS WHEREOF, said County of Contra Costa has caused this Bond to be signed in facsimile by the County Treasurer of said County and by its Clerk, and has caused its corporate seal to be reproduced in facsimile hereon all as of the 30th day of December, 199.1.• COUNTY OF CONTRA COSTA Clerk Treasurer (SEAL) Certificate of Authentication and Registration This is one of the Bonds described in the within mentioned Resolution of Issuance, which has been authenticated and registered on BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION as paying agent, registrar and transfer agent By Authorized Officer 2 (REVERSE OF BOND) LIMITED OBLIGATION REFUNDING BOND COUNTY OF CONTRA COSTA REASSESSMENT DISTRICT NO. 1991-2 (REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3) ADDITIONAL PROVISIONS OF THE BOND This Bond is one of several annual series of bonds of like date, tenor and effect, but differing in .amounts, maturities and interest rates, issued by the County of Contra Costa under the Act and the Resolution of Issuance, for the purpose of refunding bonds described in said proceedings, and is secured by the moneys in said redemption fund and by the unpaid portion of said reassessments made for the payment of said improvements, and, including principal and interest, is payable exclusively out of said fund. This Bond is transferable by the registered owner hereof, in person or by the owner' s attorney duly authorized in writing, at said office of the Bank, subject to the terms and conditions provided in the Resolution of Issuance, including the payment of certain charges, if any, upon surrender and cancellation of this Bond. Upon such transfer, a new registered Bond or Bonds, of any authorized denomination or denominations, of the same maturity, for the same aggregate principal amount, will be issued to the transferee in exchange therefor. Bonds shall be registered only in the name of an individual (including joint owners) , a corporation, a partnership or a trust. Neither the County nor the Bank shall be required to make such exchange or registration of transfer of bonds during the fifteen (15) days immediately preceding any interest payment date. The County will not obligate itself to advance available funds from the County treasury to cure any deficiency which may occur in the bond redemption fund. A determination not to obligate itself shall not prevent the County from, in its sole discretion, so advancing funds. The County and the Bank may treat the registered owner hereof as the absolute owner for all purposes, and the County and the Bank shall not be affected by any notice to the contrary. This Bond or any portion of it in the amount of $5, 000 or any integral multiple thereof, may be redeemed and paid in advance of maturity upon the second day of March or September in any year by giving at least 30 days' notice by registered or certified mail, or by personal service to the registered owner hereof at such owner's address as it appears on the registration books of the Bank and by paying principal and accrued interest together with a premium equal to three percentum of the principal. 3 • I hereby certify that the following is a correct copy of the signed legal opinion of STURGIS, NESS, BRUNSELL & SPERRY a professional corporation, Emeryville, California, on file in my office. Clerk of the 'Board of Supervisors 4 ' k RESOLUTION NO. y�17f RESOLUTION APPROVING AGREEMENT FOR ENGINEERING SERVICES REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) The Board of Supervisors of the County of Contra Costa resolves: This Board approves that certain agreement between the County of Contra Costa, and NYSTROM ENGINEERING, for services as Engineer of Work for Reassessment District NO. 1991-3 (Refunding San Pablo Creek Improvements A.D. No. 1982-2) , County of Contra Costa, California, dated the 10th day of December, 1991 and is on file with the Clerk of the Board of Supervisors. The Chairman of the Board is authorized to sign the agreement and the Clerk of the -Board is authorized to attest its execution. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: °p SU PIR PHIL BATCHELOR, Clerk of the Board of Supervisors and County Administrator ae •� By ORIGINAL 9,//781 AGREEMENT FOR ENGINEERING SERVICES REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) This is an agreement for engineering services between the County of Contra Costa, a political subdivision of the State of California, referred to as Client, and NYSTROM ENGINEERING, referred to as Engineer. 1. Client retains Engineer as Engineer of Work for Reassessment District No. 1991-3 (Refunding San Pablo Creek Improvements A.D. No. 1982-2) , County of Contra Costa, California, to assist in the preparation of the reassessment report as required by Section 9523 of the Streets and Highways Code (Refunding Act of 1984 for 1915 Improvement Act Bonds) . 2 . In consideration of the services set forth in paragraph 1, Client shall pay to Engineer the amount of $3 , 000. 00 within 30 days after delivery of refunding bonds in the reassessment proceedings. In the event no bonds are delivered, Engineer shall be paid no fee. Dated: December 10, 1991 O OF SUP"R✓i.� CONTRA COSTA COUNTY, a" politica ubdivision of f - ' e Sta e of California '2 By A'CESTA CpUchairman ATTEST: Clerk of the Board of Supervisors and County Administrator By NYSTROM ENGINEERING BY Engineer of Wor ORIGINAL RESOLUTION NO. RESOLUTION APPROVING AGREEMENT FOR FINANCIAL ADVISORY SERVICES REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) The Board of Supervisors of the County of Contra Costa resolves: As part of the proceedings for Reassessment District No. 1991-3 (Refunding San Pablo Creek Improvements A.D. No. 1982- 2) , County of Contra Costa, California, this Board approves that certain agreement between the County of Contra Costa, and LIBERTY PUBLIC FINANCIAL ADVISORS, dated December 10, 1991, and on file with the Clerk of the Board of Supervisors. The Board authorizes Liberty Public Financial Advisors to obtain an offer for the purchase of refunding bonds for presentation to the Board of Supervisors. The Chairman of the Board is authorized to sign the agreement and the Clerk of the Board is authorized to attest its execution. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991 . ATTEST: pF SUPE V PHIL BATCHELOR, Clerk of the Board of Supervisors and County Administrator *; 1=:.. �* By 1/1;7%O AGREEMENT FOR FINANCIAL ADVISORY SERVICES REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS ASSESSMENT DISTRICT NO. 1982-2) This is an agreement for financial advisory services between the COUNTY OF CONTRA COSTA, a political subdivision of the State of California, referred to as Client, and LIBERTY PUBLIC FINANCIAL ADVISORS, Pleasanton, California, referred to as Financial Advisor. 1 . Client -retains Financial Advisor as financing consultant to perform the following consulting services relating to Reassessment District No. 1991-3 (Refunding San Pablo Creek Improvements Assessment District No . 1982-2) , County of Contra Costa, State of California . (c present the potential alternatives in financing the proposed project . (b) conduct due diligence by reviewing all existing information regarding outstanding debt, bond covenants, prior debt repayment, and appropriate ordinances or resolutions, including the engineering, architectural, planning, legal and financial information regarding the project . (c) assist in the selection of other financing team members as requested, including the trustee, printer, and underwriter . (d) recommend a reserve fund, capitalized interest, and costs of issuance . (e) recommend specific terms for the securities including maturity schedules, call features, refunding protection, and others . (f) prepare a set of financing documents and prepare an official statement for use in the marketing of the bonds . (g) recommend the timing of the marketing of the bond issue based on the conditions in the market . (h) recommend to the issuer which method of sale should be chosen to market the bonds . (i) in a competitive sale, prepare and distribute notice of sale of bonds and official statement to prospective bidders . either direct or contingent, in any property or contract arising from or affected by the assessment district, except as Financial Advisor under this agreement . Financial Advisor does not represent any owner of property within the proposed boundaries of this assessment district, and has not received a fee from any source for services connected with the project . DATED : b i�' , 1991 �F«F: CONTRA COSTA COUNTY, a political X0.0 , subdivisi of the State of California Byr Chairman of the Board of Supervisors 760 ATTEST : P I , elor, Clerk of the Board of Supervisors and County Administrator By ,( k . Clerk of: hey oard of upervisors LIBERTY PUBLIC FINANCIAL ADVISOR By Na Fine cKinney Lee B �-� Y Charles A. Lee RESOLUTION NO., RESOLUTION APPROVING AGREEMENT FOR LEGAL SERVICES REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) The Board of Supervisors of the County of Contra Costa resolves: This Board approves that certain agreement between the County of Contra Costa, and STURGIS, NESS, BRUNSELL & SPERRY a professional corporation, for services of that firm as Special Bond Counsel for Reassessment District No. 1991-3 (Refunding San Pablo Creek Improvements A.D. No. 1982-2) , County of Contra Costa, California, dated December 10, 1991, and on file with the Clerk of the Board .of Supervisors. The Chairman of the Board is authorized to sign the agreement and the Clerk of the Board is authorized to attest its execution. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991.. ATTEST: U P) PHIL BATCHELOR, Clerk of the Board of Supervisors and County Administrator 4 t2 By ORIGINAL I ION NO. 7//7 AGREEMENT FOR LEGAL SERVICES REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) COUNTY OF CONTRA COSTA This is an agreement for legal services between the County of Contra Costa, a political subdivision of the State of California, referred to as Client, and STURGIS, NESS, BRUNSELL & SPERRY a professional corporation, Attorneys at Law, Emeryville, California, referred to as Bond Counsel. 1. Client retains Bond Counsel as special counsel to perform the following legal services relating to Reassessment District No. 1991-3 (Refunding San Pablo Creek Improvements A.D. No. 1982-2) , County of Contra Costa, California. (a) Preparation of all forms of resolutions, notices, affidavits, and other documents required by the Refunding Act of 1984 for 1915 Improvement Act Bonds (the "Act") , including the legal format of the engineer ' s report required by Section 9523 . (b) The preparation of written instructions to Client' s Clerk and other staff members concerning the performance of legally-required duties. (c) Review of documents prepared by Client's engineering staff or consulting engineers, including reassessment diagram and reassessment roll . (d) Attendance at all public meetings of Client at which matters relating to the reassessment district are considered, except routine matters. (e) Attendance at staff meetings or meetings of property owners, upon the request of the Client, after reasonable notice. (f) Telephone consultation with staff members and property owners to answer legal questions about the reassessment proceedings. (g) Arrangements for the printing of refunding bonds to represent unpaid reassessments. (h) The preparation of a record of assessment installments for the use of the County Auditor, if required. (i) Arrangements for the sale of refunding bonds either by negotiation or by public bid, at the option of Client, including a review of financial disclosure requirements and, if required, the preparation of the notice inviting bond bids. (j ) The preparation of bond delivery documents. (k) The rendition of a legal opinion on the validity of the refunding bonds and the proceedings leading to their issuance. (1) Preparation of a transcript of the legal proceedings in loose-leaf form for the use of the Client. (m) Preparation of the required reports to the California Debt Advisory Commission (pursuant to Section 8855 et seq. of the Government Code) and to the Internal Revenue Service (pursuant to Section 149 of the Internal Revenue Code of 1986) . 2 . The services of Bond Counsel under this agreement shall not include the following: (a) Legal services in connection with the acquisition of interests in real property, either through negotiation or through exercise of the power of eminent domain. (b) Legal services in connection with litigation. The performance by Bond Counsel of services excluded by this paragraph, if required by Client, shall be under separate oral or written agreement. 3 . In consideration of the services set forth in paragraph 1, Client shall pay to Bond Counsel the following fee and costs: (a) The legal fee shall be an amount equal to one and one-quarter percent (1 1/4%) of that portion of the amount assessed not exceeding $1 million, plus one-half of one percent (1/2%) of that portion of the amount assessed exceeding $1 million. (b) Costs shall be reimbursed to Bond Counsel as follows: 1) Filing and recording fees and publication costs advanced on behalf of Client. 2) The cost of preparing auditor ' s record, if required: 7 cents per assessment for each year of the bond issue, with a minimum of $30. 00. 2 3) Costs of Federal Express or similar delivery service. 4) Cost of preparation of notices to property owners. The cost of other services for which Bond Counsel makes arrangements under this agreement (such as bond printing costs) shall be billed to the Client and shall be paid by Client directly to the payee. (c) Payment by Client of the legal fee is contingent upon the levy of reassessments and the sale and delivery of improvement bonds representing unpaid reassessments in the reassessment district. If for any reason, reassessments are not confirmed and bonds delivered, Bond Counsel shall be paid no legal fee. Both the legal fee and costs are payable upon delivery of the bonds. 4 . Bond Counsel certifies that it has no interest, either direct or contingent, in any property or contract arising from or affected by the reassessment district, except as Bond Counsel under this agreement. Bond Counsel does not represent any owner of property within the proposed boundaries of this reassessment district, and has not received a fee from any source for services c I onnected with the project. DATED: D ber 10, 1991 OF ,jPLRV, COUNTY OF CONTRA COSTA, a polithpolitica ubdivision of Sf C e of California � S�a of By Chairman ATTEST: Clerk of the Board of Supervisors and County Administrator By STURGIS, NESS, BRUNSELL & SPERRY a professional corporation By—`Aoo!Ae r 4B r u�ns e 1�1 � 3 RESOLUTION NO. 7f' RESOLUTION OF INTENTION TO CONDUCT REASSESSMENT PROCEEDINGS REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) The Board of Supervisors of the County of Contra Costa resolves: This Board of Supervisors hereby determines that the public interest or necessity requires the refunding of all outstanding bonds previously issued as Series No. 1982-2 , dated ter,. October 3 , 1983 , Contra Costa County, Assessment District No. 1982-2 , San Pablo Creek Improvements. This Board of Directors hereby declares its intention to refund said outstanding bonds and to levy reassessments pursuant to the Refunding Act of 1984 for 1915 Improvement Act Bonds (the "Act") as security for said refunding bonds. This Board of Supervisors hereby directs NYSTROM ENGINEERING to prepare and file with the Clerk of the Board of the County of Contra Costa, a written report containing each of the items specified by Section 9523 of the Act-. The reassessment shall include an- allowance for the establishment of a special reserve fund as provided by Section 9620 of the Streets and Highways Code. Bonds representing unpaid reassessments, and bearing interest at a rate not to exceed twelve percent (12%) per annum, will be issued in the manner provided by the Act, and the last installment of the bonds shall mature six (6) years from the 2nd day of September next succeeding twelve (12) months from their date. OR I G I N A L i The County will not obligate itself to advance available funds from the County Treasury to cure any deficiency which may occur in the bond redemption fund. A determination not to obligate itself shall not prevent the County from, in its sole discretion, so advancing funds. The procedure for the collection of reassessments and advance retirement of bonds under the Act shall be as provided in Part 11. 1, Division 10, of the Streets and Highways Code of the State of California. The amount of any surplus remaining after completion of the refunding shall be transferred to the reserve fund for the refunding bonds. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: 0.v OF SUF.-Rv'SOk PHIL BATCHELOR, Clerk of the *;'f Board of Supervisors and County Administrator - - BY COSTA COU�� 2 1 RESOLUTION NO. RESOLUTION APPROVING REASSESSMENT REPORT AND ORDERING REASSESSMENTS REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) The Board of Supervisors of the County of Contra Costa resolves: The Engineer of Work filed the written report prescribed by Section 9523 of the Streets and Highways Code. On the basis of the information set forth in the Report, this Board of Supervisors hereby finds and determines that the three conditions specified by Section 9525 of the Streets and Highways Code are satisfied. Accordingly, this Board of Supervisors is authorized to proceed with approval and confirmation of the report and with authorized issuance and sale of the proposed refunding bonds without notice to the affected landowners or hearing on the report. This Board hereby approves and confirms the Reassessment Report, including Exhibits A through H thereof. All assessments originally levied in Assessment District 1982-2 , San Pablo Creek Improvements shall be deemed supplanted and superseded by the reassessments proposed hereby, except for unpaid installments of principal and interest due and payable during or before fiscal year 1991-92 . Bonds representing unpaid reassessments, and bearing interest at a rate not to exceed twelve (12) percent (12%) per annum, shall be issued in accordance with the terms and conditions of the Refunding Act of 1984 for 1915 Improvement Act Bonds (the "Act") , and the last installment of the bonds shall I 'AL r mature six (6) years from the 2nd day of September next succeeding twelve (12) months from their date. The reassessments and interest thereon shall be collected in the manner prescribed by the Act and are subject to reassessment, amendment, and prepayment, all in accordance with the provisions of the Act and the related provisions of the Improvement Bond Act of 1915 which are incorporated therein. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: _ OF SGF�a✓,°:\ PHIL BATCHELOR, Clerk of the Board of Supervisors and f y County Administrator By COSTA COU�� 2 ti RESOLUTION NO. RESOLUTION AUTHORIZING COUNTY TREASURER TO APPROVE OFFICIAL STATEMENT REASSESSMENT DISTRICT NO. 1991-3 (REFUNDING SAN PABLO CREEK IMPROVEMENTS A.D. NO. 1982-2) The Board of Supervisors of the County of Contra Costa resolves: As. a part of the proceedings for the sale of refunding bonds in Reassessment District No. 1991-3 (Refunding San Pablo Creek Improvements A.D. No. 1982-2) , County of Contra Costa, California, this Board hereby authorizes the County Treasurer to approve a Preliminary Official Statement for Reassessment '< ,District No. 1991-3 (Refunding San Pablo Creek Improvements A.D. No. 1982-2) , and a Final Official Statement derived substantially therefrom. Distribution of the Preliminary Official Statement and the Final Official Statement is hereby authorized. The Preliminary Official Statement is to be final except for certain information which will not be known until the time of sale and will therefore be "deemed final" within the meaning of Rule 15c2-12 of the Securities and Exchange Commission. ORIGINAL r I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the Board of Supervisors of the County of Contra Costa, State of California, at regular meeting thereof, held on the 10th day of December, 1991. ATTEST: Op SUPFRv S PHIL BATCHELOR, Clerk of the Board of Supervisors and County Administrator By '2 OSTA COUl1'� 1 2 t -, No. q//7�11