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HomeMy WebLinkAboutMINUTES - 12141999 - C147 cw? RESOLUTION 99/638 OF THE BOARD OF DIRECTORS OF THE COUNTY OF CONTRA COSTA PUBLIC FINANCING AUTHORITY A RESOLUTION AUTHORIZING THE REMOVAL OF THE TRUSTEES UNDER CERTAIN TRUST AGREEMENTS; AUTHORIZING AND DIRECTING THE APPOINTMENT OF SUCCESSOR TRUSTEES; AUTHORIZING THE REMOVAL AND APPOINTMENT OF TRUSTEES; AND AUTHORIZING TAKING OF NECESSARY ACTIONS AND EXECUTION OF NECESSARY DOCUMENTS AND CERTIFICATES. WHEREAS, the County of Contra Costa (the "County') and the County of Contra Costa Redevelopment Agency (the"Agency") have heretofore executed 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"); and WHEREAS, pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the "Marks-Roos Local Bond Pooling Act of 1985") and the Joint Powers Agreement, the Authority is authorized to issue bonds for financing public capital improvements whenever there are significant public benefits;and WHEREAS, in connection with the issuance of certain of such bonds or certificates of participation,the Authority 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 WHEREAS, in connection with the issuance of certain other of such bonds, the Authority has heretofore entered into a trust agreement, dated as of February, 1, 1999 (the "1999 Trust Agreement'), between the Authority and U.S. Bank Trust National Association, as trustee (the"1999 Initial Trustee);and WHEREAS, in connection with the issuance of certain other securities, the Authority has heretofore entered into various trust agreements (together with the 1997 Trust Agreement and the 1999 Trust Agreement,the"Trust Agreements");and WHEREAS, the Authority desires to remove the 1997 Initial Trustee and appoint a successor trustee; WHEREAS, the Authority desires to remove the 1999 Initial Trustee and appoint a successor trustee; WHEREAS,the Authority desires to authorize the Director, Capital Facilities and Debt Management of the County (the "Director, Capital Facilities") to remove trustees and appoint successor trustees under the Trust Agreements when appropriate, including to improve service or promote more convenient service; DOCSSFI:406277.1 40511-110 TM4 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Authority, as follows: Section 1. The foregoing recitals are true and correct and the Authority hereby so finds and determines. 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 Authority 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 Authority in furtherance of such removal and appointment. Section 3. The removal of the 1999 Initial Trustee is hereby authorized and approved. The Director, Capital Facilities is hereby authorized and directed on behalf of the Authority to appoint a successor trustee under and in accordance with the 1999 Trust Agreement and to execute any document appropriate or necessary to be delivered by the Authority in furtherance of such removal and appointment. Section 4. The Director, Capital Facilities is hereby authorized on behalf of the Authority 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 Authority in furtherance of such removals or appointments. Section 5. The officers of the Authority 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. SXCSSF1:406277.5 40511.110 TM4 2 Section 5. This Resolution shall take effect from and after its date of adoption. PASSED AND ADOPTED this24thday of December, 1999. C r the card of Directors Secretary of the Board of Directors DMSSPI:406277.1 40511-Iia IM4 3 CLERK'S CERTIFICATE I, Ann Cervelli Deputy Clerk of the Board of Supervisors of the County of Contra Costa,hereby certify as follows: The foregoing is a full, true and correct copy of a resolution duly adopted at a regular meeting of the Board of Supervisors of said County duly and regularly,held at the regular meeting place thereof on the 1.4tWy of December, 1999, of which meeting all of the members of said Board of Supervisors had due notice and at which a majority thereof were present; and at said meeting said resolution was adopted by the following vote: A-YES: Supervisors Gioia, Uilkellla, Gerber, UeSaulnier and Canciamilla ABSTAIN. None NOES: Nene ABSENT: Nene An agenda of said meeting was posted at least fit hours before said meeting at ,Martinez, California, a location freely accessible to members of the public, and a brief general description of said resolution appeared on said agenda. I have carefully compared the same with the original minutes of said meeting on file and of record in my office; the foregoing resolution is a full, true and correct copy of the original resolution adopted at said meeting and entered in said minutes; and said resolution has not been amended, modified or rescinded since the date of its adoption, and the same is now in full force and effect. WITNESS my hand and the seal of the County of Contra Costa thisl4thday of December, 1999. a [Seal] eputy Clerk of the Board of Supervisors of the County of Contra Costa, State of California D CSSFIA446278.1 44511-1 l4 TM4 CERTIFICATE OF THE SECRETARY OF THE COUNTY OF CONTRA COSTA PUBLIC FINANCING AUTHORITY I, IBIL BATCLE M Secretary of the County of Contra Costa Public Financing Authority (the "Authority"), hereby certify that the foregoing is a full, true and correct copy of a resolution duly adopted at a meeting of the Board of Directors of said Authority duly and regularly held in Martinez, California, on December 141111999 of which meeting all of the members of said Authority had due notice. I further certify that I have carefully compared the foregoing copy with the original minutes of said meeting on file and of record in my office;that said copy is a full, true and correct copy of the original resolution adopted at said meeting and entered in said minutes; and that said resolution has not been amended, modified,rescinded or revoked in any manner since the date of its adoption, and the same is now in full force and effect. I further certify that an agenda of said meeting was posted at least 72 hours before said meeting at a location in Martinez, California, freely accessible to the public and a brief general description of the resolution to be adopted at said meeting appeared on said agenda. IN WITNESS WTIEREOF, I have executed this certificate hereto as ofthisi day -of December, 1999. By Vim— L ,. Secretary DOCSSFI:406277.1 40511-110 TM4