HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-146 RESOLUTION NO. 92/J.46
OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF CONTRA COSTA.'
CALIFORNIA
RESOLUTION DETERMINING TO PROCEED WITH CERTIFICATE OF
PARTICIPATION FINANCING FOR REFUNDING OF CERTAIN OUTSTANDING
CERTIFICATES OF PARTICIPATION, AUTHORIZING THE DISTRIBUTION OF
PRELIMINARY OFFICIAL STATEMENT AND OFFICIAL NOTICE OF SALE,
AND AUTHORIZING COUNTY OFFICIALS TO TAKE NECESSARY ACTIONS AND
TO PREPARE NECESSARY DOCUMENTS".
WHEREAS, this Board of Supervisors hereby determines
that it would be in the best interest of the County to 'enter
into a certificate of participation financing for the
refunding of "outstanding CSAC 'Finance Corporation Fixed Rate
Certificates of Participation (California Counties Lease
Financing Program - Contra Costa County Project) Series 1986,
CSAC Finance Corporation Fixed Mate Certificates of
Participation (California Counties"` Lease Financing Program --
Contra Costa County Project II) Series1986 and CSAC Finance
Corporation Fixed Rate Certificates of Participation
(California Counties Lease Financing Program -' Contra Costa
County Project III) Series 1985 (herein called the
"Outstanding Certificates of Participation*) ; and
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WHEREAS, it is contemplated that the trustee under a
trust agreement to be executed in connection with the
certificate of participation financing will execute and
deliver certificates of participation (herein called the
"Certificates of Participation") in payments to be 'made by the
County for the refunding of the outstanding Certificates of
Participation.
NOW, THEREFORE, BE IT RESOLVED by the Board of
Supervisors of the County of Contra Costa, as follows:
AeCt'cin1. All of the recitals herein contained are
true 'and correct and this "Board of Supervisors so finds.
Section Z. This Board of Supervisors hereby
determines to proceed with a Certificate of Participation
financing for the refunding of the Outstanding Certificates ` of
Participation.
SectiQn 3 . This Board of Supervisors hereby directs
the preparation and distribution to prospective purchasers of
the Certificates of Participation copies of a preliminary
official' statement describing the Certificates of
Participation and an official <notice of sale for purchase of
the Certificates of Participation, such official statement and
official 'notice of sale to be in such forms as are acceptable'
to the County Administrator.
Section 4. arrack, Herrington & Sutcliffe, as
special counsel in connection with the issuance of the
Certificates of Participation, and the appropriate County
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officials are hereby authorized and directed to continue to
prepare the necessarylegal documents to accomplish said
financing.
Sectign 5. This resolution 'shall take effect from
and after its date of adoption.
PASSED AND ADOPTED THIS third day of March, 1992.,
AYES: Supervisors Powers, Fanden, Schrader, Torlakson,
cPeak
NOES: None
ABSENT 1TTane
(Sean
Y
ATTEST: gpt—ant
Chairman of the Anard of Supervisors
Philip J. Batchelor, of the County of Contra Costa
Clerk of: the Board State of California
of Supervisors and
County Administrator
y: '--.
Deputy Clerk
RESOLUTION NO. 92/146
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