HomeMy WebLinkAboutMINUTES - 12141999 - C125 RESOLUTION NO. 99/ 636
OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF CONTRA COSTA,
CALIFORNIA
A RESOLUTION AUTHORIZING THE REMOVAL OF THE TRUSTEE
UNDER A TRUST AGREEMENT; AUTHORIZING AND DIRECTING THE
APPOINTMENT OF A SUCCESSOR TRUSTEE; AUTHORIZING THE
REMOVAL AND APPOINTMENT OF TRUSTEES; AND AUTHORIZING
TAKING OF NECESSARY ACTIONS AND EXECUTION OF NECESSARY
CERTIFICATES IN CONNECTION THEREWITH
WHEREAS, the County of Centra Costa (the "County") and the Contra Costa
County Redevelopment Agency (the "Agency") have heretofore entered into a Joint Exercise of
Powers Agreement, dated as of April 7, 1992 (the "Joint Powers Agreement"), which Joint Powers
Agreement creates and establishes the County of Contra Costa Public Financing Authority (the
"Authority");
WHEREAS, pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the
Government Code of the State of California and the Joint Powers Agreement, the Authority is
authorized to issue bonds for financing public capital improvements whenever there are significant
public benefits;
WHEREAS, in connection with the issuance of certain of such bonds or
certificates of participation,the County has heretofore entered into a trust agreement, dated as of
August, 1, 1997 (the "1997 Trust Agreement"), by and among the Authority, the County and
U.S. Bank Trust National Association, as trustee (the "1997 Initial Trustee"), and certain other
trust agreements (together with the 1997 Trust Agreement,the"JPA Trust Agreements");
WHEREAS, in connection with the issuance of certain securities issued by the
County, the County has heretofore entered into various other trust agreements(together with the
JPA Trust Agreements,the"Trust Agreements");
WHEREAS, the County desires to remove the 1997 Initial Trustee and appoint a
successor trustee;
WHEREAS, the County desires to authorize the Director, Capital Facilities and
Debt Management of the County (the "Director, Capital Facilities") to remove and appoint
trustees under the Trust Agreements when appropriate, including to improve service or provide
more convenient service;
NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the
County as follows:
Section 1. The foregoing recitals are true and correct.
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Section 2. The removal of the 1997 Initial Trustee is hereby authorized and
approved. The Director, Capital Facilities is hereby authorized and directed on behalf of the
County to appoint a successor trustee under and in accordance with the 1997 Trust Agreement
and to execute any document appropriate or necessary to be delivered by the County in
furtherance of such removal and appointment.
Section 3. The Director, Capital Facilities is hereby authorized on behalf of the
County to remove and appoint trustees under and in accordance with the Trust Agreements and
to execute any document appropriate or necessary to be delivered by the County in furtherance
of such removals or appointments.
Section 4. The officers of the County are hereby authorized and directed, jointly
and severally, to do any and all things which they may deem necessary or advisable in order to
consummate the transactions herein authorized and otherwise to carry out, give effect to and
comply with the terms and intent of this Resolution.
AYES: Supervisors Gioia, Uil.kema, Gerber, DeSaul.nier and Canciamilla
NOES: Nene
ABSENT. None
ABSTAIN: None
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Suction 5. This resolution shall take effect from and after its date of adaption.
PASSED AND ADOPTED this 14thday of December, 1999.
i40fe B d of Supervisors
ounty of Ca tra Costa,California
[Seal]
ATTEST: Philip I Batchelor, Clerk of the
Board of Supervisors and County Administrator
By
Deput Clerk of the Board of
Supervisors of the County of
Contra Costa, State of California.
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