HomeMy WebLinkAboutRESOLUTIONS - 12101991 - 91-792 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
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 IUP A L
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: of SUP R vs
-
PHIL BATCHELOR, . Clerk of the *;'f
Board of Supervisors and •*
County Administrator
By
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