HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-147 fi
RESOLUTION OF THE BOARD OF S ERVISORS
OF THE COUNTY OF CONTRA COSTA
DECLARATION OF OFFICIALINTENT EBF
COUNTY OF CONTRA COSTA TO REIMBURSE CERTAIN
CAPITAL EXPENDITURES FROM PROCEEDS OF INDEBTEDNESS
RESOLUTION Na'. 9-2/14
WHEREAS, the 'County of Contra 'Costa (t-he "Issuer")
intends to construct facilities comprising a County hospital
expected to be' located 'in Martinez (the "Project") .
WHEREAS, 'the ,,Issuer expects to pay certain capital
expenditures in connection with the Project prior to the
issuance of indebtedness to be used to finance such
expenditures;
:WHEREAS, the '='.Issuer is authorized to incurs or
issue debt' obligations ;to finance costs of the Project;
WHEREAS, ;,the 'Issuer reasonably expects it will
issue debt' obligations in an amount not reasonably expected to
exceed $150,000,000 for the purpose of financing' costs of the
Project on a long-term basis; and
WHEREAS, section 1. 103-8 of the Treasury
Regulations requires the Issuer to declare its reasonable
official intent to reimburse prior expenditures for the
Project with proceeds of a borrowing;
NOW, THEREFORE, BE IT'' RESOLVED by the Board of
Supervisors of the Issuer as follows:
,^fiction 1. The Board of Supervisors of the Issuer `
finds and determines that the foregoing recitals' are; true and
correct.
Section 2. This Resolution is adopted by the Board
of Supervisors of the Issuer solely;. for ,purposes of
establishing compliance with the requirement's of section
1.103-8 of the Treasury Regulations`. This Resolution does not
bind the Issuer to 'make any; expenditure,' incur any
indebtedness, or proceed with the Project.
fiection 3. The Board of Supervisors expects the
Issuer will pay certain capital expenditures in connection
with the Project prior to the issuance of taxable or
tax-exempt indebtedness for. the Project. The reimbursement of
such Project expenditures is consistent with the' Issuer's
established budgetary and financial `circumstances. There are
7630M RESOLUTION NO. 92/147
no funds or sources of moneys of the Issuer, or any ''related
person or commonly controlled entity, that have been, or
reasonably are expected to be, .reserved', allocated on a
hong-term'. basis or otherwise set aside to pay casts of the
Project which are to be paid or reimbursed out of proceeds of
indebtedness to be issued for the Project.
,Section 4 . The Board of 'Supe'rvisors of the Issuer
hereby declares the Issuer's official intent touse :.proceeds'
of taxable or 'tax-exempt indebtedness to reimburse itself for
future Project expenditures.
Secti2n S. This Resolution shall be continuously
available for inspection by the general public during normal
business hours at the offices of the Issuer, located at
551 pine Street, Martinez, ' California 94553' commencing on the
date no later than 30 days after the date of adaption.
Section-6. This Resolution shall' take effect from
and after its adoption'.
PASSED AND ADOPTED by the Board of Supervisors of
the County of Contra Costa, State of California, this 3rd day
of March, 1992, by the following vote.-
AYES:
ote:AYES Supervisors Powers Fanden, Schroder', Torlakson, McPeak
NOES None
ABSENT: None'
Chair of the -Board of Supervisors
of the County: of Contra Costa
('Seal,)
Attest : Philip J. Batchelor,
County Administrator and Clerk
of the Board of Supervisors of
the County of Contra Costa
By: L
Y
RESOLUTION NO. '92/147
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7630M