HomeMy WebLinkAboutRESOLUTIONS - 01011981 - 1981-762 RESOLUTION NO .
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY
OF CONTRA COSTA PROVIDING FOR THE SALE OF 1981 TAX AND
REVENUE ANTICIPATION NOTES
WHEREAS, this Board of Supervisors heretofore
offered for public sale $30, 000, 000 principal amount of
County of Contra Costa 1981 Tax and Revenue Anticipation
Notes (the "notes" ) , in accordance with the Notice Inviting
Bids on the notes adopted on June 16, 1981; and
WHEREAS, the following bids were and are the only
bids received for the notes:
Principal
Amount of
Notes Bid Interest
Name of Bidder Upon Rate Premium
Bank of America NT & SA $30, 000, 000 8 . 92% $ 1 , 782
and Associates
First Interstate Bank of $ 5 , 000, 000 9 . 10% $ so
California and Associa- $ 5 , 000, 000 9 . 16% $ so
tes $10, 000, 000 9 . 180 $ 100
$ 10, 000, 000 9 . 22% $ 100
Wells Fargo Bank, NA $ 2 , 000, 000 9 . 26% None
$ 4 , 000, 000 9 . 31% None
$ 4, 000, 000 9 . 36% None
NOW, THEREFORE, the Board of Supervisors of the
County of Contra Costa hereby finds , determines, declares and
resolves as follows :
RESOLUTION NO. 81/762
f,
Section 1 . This Board of Supervisors hereby
rejects all of said bids for the notes, except the bid
hereinafter mentioned, and awards all of the notes to the
following bidders at the following interest rate, in accordance
with their bid and the Notice Inviting Bids on the notes, to
wit :
$ 30, 0700, 000 principal amount of the notes are
awarded to Bank of America NA & SA and Associates at the
principal amount thereof, plus accrued interest thereon at
the rate of eight and ninety-two/one hundreths percent (8 . 92°x)
per annum, plus a premium of $1 , 782 . In accordance with said
accepted bid and the Notice Inviting Bids on the notes , the
notes so awarded shall be numbered, shall be of the denomination
and shall bear interest (payable at maturity) as follows, to wit :
Note Numbers Interest
(inclusive) Denomination Rate
1 - 600 $ 25, 000 8 . 92%
601 - 750 100, 000 8 . 925
Section 2 . All bids except said accepted bids are
hereby rejected and the Clerk of this Beard of Supervisors is
hereby directed to return to the unsuccessful bidders their
several checks accompanying their respective bids.
Section 3 . The Clerk of this Beard of Supervisors
is directed to cause to be lithographed, printed or engraved
a sufficient number of notes, said notes to show on their
face that the same are numbered, are in the denomination and
bear interest at the rates aforesaid.
2
Section 4: The County Treasurer and the Clerk of
this Board of Supervisors are hereby authorized and directed
to execute and deliver the notes to the successful bidders
thereof. All actions heretofore taken by the officers and
agents of this Board of Supervisors with respect to this sale
and issuance of the notes are hereby approved, confirmed and
ratified and the officers of this Board of Supervisors are
hereby authorized and directed, for and on behalf of this
Board of Supervisors, to do any and all things and take any
and all actions and execute any and all. certificates,
agreements and other document which they, or any of them, may
3
deem necessary or advisable in order to consummate the lawful
issuance and delivery of the notes in accordance with this
resolution and resolutions heretofore adopted by this Board
of Supervisors.
PASSED AND ADOPTED by the Board of Supervisors of
the County of Contra Costa this 7th day of July, 1981, by the
following vote:
AYES: Supervisors Fanden, Schroder, McPeak,
Torlakson, Powers
NOES: None
ABSENT: None
r
r't�
Chairperson of the Board of Supervisors
of the County of Contra Costa
(Seal)
Attest: J. R. OLSSaN, Clerk
By Deput
CLgrk of the Board of/Supervisors
of the County of Contra Costa
cc : Auditor--Controller (5) -
Treasurer-Tax Collector
County Administrator
4
91/74P 7G.