HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-294 r
RESOLUTION No. 92/294
A RESOLUTION OF T13E BOARD OF SUp`ERVISO3RS OF THE COUNTY OF CONTRA
COSTA App'RoViNG AMENDMENT OF INDENTURE AND REDEM[MON OF 1987
NOTI S BY`i"IIE CONTRA COSTA COUNTY REDE'VEI.APMENT AGENCY,AND
AUT RORLV NG AND I IFtECTING RELATED ACTIONS
WHEREAS, the Contra Costa County Redevelopment Agency (the "Agency") has
entered into an Indenture of Trust, dated as of December 1, 1987 (the "Indenture"), with
Seattle-First National Bank., as trustee, pursuant to which the Agency issued its
$7,500'0(19 Contra Costa County Redevelopment Agency Pleasant Dill BART Station Area
Redevelopment Project 1987 Tax,Allocation Notes (the "1987 Notes"); and
WIEREAS, the Agency intends to redeem the 1987 Notes on June 1, 1992, and to
that end has proposed a first amendment to the Indenture (the "Amendment") in the
form on file with Agency staff, in order to complete`the redemption of the 1987 Notes in a
timely and efficient manner; and
WHEREAS, the Agency has requested that the County of Contra Costa (the
"County")' approve the Amendment and provide certain assistance to the Agency in
connection with the redemption of the Notes as provided herein..
NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF
THE COUNTY OF CONTRA COSTA AS FOLLOWS:
Section 1, &=oval.of Amendment and Redemption on of 1987:Notes. The Board of
Supervisors hereby approves the Amendment in the form on file with Agency staff, and
the redemption by the Agency of the 1987 Notes in the manner contemplated by the
Indenture and the Amendment.
Section 2. Assist�a ce to Agency tQ Effect Redempton of 1987 Notes. The Board of
Supervisors hereby authorizes and directs the County Administrator, and any other
appropriate officers or staff members of the County, to assist the Agency in the
redemption of the 1987 Notes on June 1, 1992. Such assistance shall include, at the
request of the Deputy Director - Redevelopment, a loan to the Agency from any available
County funds in an amount necessary to effect the redemption of the 1987 Notes. Any
such loan`shall be repayable from the proceeds of any obligations of the Agency issued
with respect to the Pleasant Hill BART'Station Area Redevelopment Project, and shall be
subject to such other'conditions as the County Administrator, in consultation'with the
Deputy Director - Redevelopment, shall determine. The County Administrator or his
designee is hereby authorized and directed to execute all documents necessary to
evidence said Mian.
RESOLUTION NO. 92/294
Section 3. Effedhm Date. This resolutionshall take effect``immediately upon its
adoption.
I hereby certify that the foregoing Resolution was duly,adopted by the Board of
Supervisors of Contra Costa County, California, at a regularly scheduled meeting,
thereof, held on the 8 Clay of A.pr 2 , 1992,by the following vote of the Board:'
AYES: Supervisors Powers , ''Fanden, Schroder, Torlakson, McPeak
NOES: None
ABSENT: None
ATTEST.-
Phil
TTEST:Phil Batchelor, Clerk of the Board of
Superiors and County Administrator
Deputy»
J9675
92/294