HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-364 1203303 " 11xw:t31)Ct:ncc 05112192
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RESOLUTION NO 92/364
RE5C3LUTIC)NPR€ YIDIN 't3R THE 19ORRa�fiC OF FUNDS ON
BEHALF OF TSE ANTIDCH IJ 401E SCHOOL DISTRICT' FOR nSCAL
YEAR I992.14"3 AND T.0E ISSUA CE l"�t�► �k E OF SI�2 'TAX AND
REVENUE Al'+tTICIPAtION NOTES THEREFO
RESOLVED,by the Board of Supervisors of Contra Costa County,i California,as follows:
WHEREAS,pursuant to Article 7.t (commencing with section 53850)of Chapter 4 of Part
I.of Division 2 lof itle 5 of the California Government Code (the "Law"), school districts
organized and existing under the laws of the State of California are authorized to borrow:money by
the issuance of tempora nous,the proceeds of which may be used and expended for any purpose
for which the school district is authorized to spend moneys, and
WHEREAS,pursuant to the Law,such notes may be issued in the name and on behalf of
such school districts by the board of suervisors of the county,3 the county superintendent of w]uch
_ has jurisdiction over such school district, s soon as possible following receipt of a resolution of
the governing board of such school district,requesting such borrowing,
WHEREAS,the Board of Trustees of the Antioch Unified School District(the"District")
has heretofore adapted its resolution on May 27, 1992,findin and determining that it is desirable
that the District borrow funds in an amount not to exceed$6,000,000 with respect to the fiscal year
1992-1:991 for authorized purposes of the District,and requesting that the Board of S isors
(the"Board")of Contra Costa County(the"County")for that purpose authorize the issuAce of
and offer for sale tax and revenue anticipation notes in the name,and on behalf of,the District in
the principal amount of not to exceed $3,000, 000, under and pursuant to the provisions of the
Law,and
NOW,TMREFURE,it is hereby DETERK NED and ORDERED as follows;
Section 1. d ala' e and All of the recitals herein set forth are true and correct
and the Board so finds and determines.
Section 2, The Board hereby approves the request of the
District for the Board to issue notes on its behalf.
Secd6n 3 The principal amount of notes issued pursuant
hereto,when added to the interest payable thereon,shall not exceed eighty fivepercent(559 )of
the estimated amount of the uncollected taxes,revenue and other moneys of the District for the
general fund of the District attributable to Fiscal Year 1.992.-1993,and available for the payment,of
said notes and the interest thereon(as hereinafter provided).
Section 4. Au-th.griz-ati of NTotes.Solely for the payment of current expenses,
capital expenditures and other obligations payable from the general fund of District during or
allocable to Fiscal Fear 1992 1993,!and Writ pursuant to any common plan'of financing,the Beard
hereby deterrrrines to and shall borrow the aggegate principal sum of not tet exceer.d six million
dollars ($�i,t f,(304 )in the nal and on'behalf of the District. Such borrowing shall be by the
issuance of temporary notes under the I,ativ,designated"Antioch Unified School District(Contra
RESOLUTION' NO. 92/3"64
Costa County, California) 2992 Tax and Revenue Anticipation Notes" (the"Notes).The Notes
shall be dated July 1, 1992, shall mature(without option of priorredemption) on June 30, 1993,
and shall'bear interest from their date,payable at maturity and computed on a 30-day month/360-
day year basis.Both the principal of and interest on the Notes shall be payable in lawful money of
the United States of America,as described below.
Section S. Form of Ngtes: Book Entry:Only:System. The Notes shall be issued in fully
registered form,without coupons,and shall be substantially in the form and substance set forth in
Exhibit,A attached hereto and by reference incorporated herein,the blanks in said form to be filled
in with appropriate words and figures.The Notes shall be numbered from I consecutively upward,
shall be in the denomination of$1,000 each or any integral multiple thereof.
"CUSN"identification numbers shall be imprinted on the Notes,but such numbers shall
not constitute a part of the contract evidenced by the Notes and any error or omission with respect
thereto shall not constitute cause for refusal of any purchaser to accept delivery of and pay for the
Notes. In addition,Failure on the part of the Board to use such CUSIP numbers in any notice to
registeredowners of the Notes shall not constitute an event of default or any violation of the
Board's contract with such registered owners and shall not impair the effectiveness of any such
notice.
Except as provided below, the owner of all of the Notes shall be The Depository Trust
Company,New Fork,New York ("DTC"),and the Notes shall be registeredin the name of Cede
&Co.,as'nominee for DTC.The Notes shall be initially executed and delivered in the form of a
single fully registered Note in the full aggregate principal amount of the Notes. The Board may
treat DTC(or its nominee)as the sole and exclusive owner of the Notes registered in its name for
all purposes of this Resolution,and the Board shall not be affected by any notice to the contrary.
The Board shall not have any responsibility or obligation to any participant of DTC (a
"Participant"),any person claiming'a beneficial'ownership interest in the Notes'under:.or through'
DTC or a Participant,or any other person which is not shown on the register of the Board as being
an owner,with respect to the accuracy of any records maintained by DTC or any Participant or the
payment by DTC or any Participant by DTC or any Participant of any amount in respect of the
principal or interest with respect to the Notes.The County Treasurer,as paying agent,shall pay all
principal and interest with respect to the Notes only to`DTC,and all such payments shall bevalid
and effective to fully satisfy and discharge the Board's obligations with respect to the principal and
interest with respect to the'Notes to the extent of the sum or sums so paid. Except under the
conditions noted below,no person other than DTC shall receive a Note.Upon delivery by DTC to
the Board of written notice to the effect that DTC has determined to substitute a new nominee in
place of Cede& Co.,the term"Cede&Co"in this Resolution shall refer to such new nominee of
DTC.
if the Board determines that it is in the best interest of the beneficial owners that they be
able to obtain Notes and delivers a written certificate to DTC to that effect,DTC shall notify the
Participants of the availability through DTC of Notes.in such event,the Board shall issue,transfer
and exchange Notes as requested by DTC and any other owners in appropriate amounts.DTC may
determine to discontinue providing its services'with respect to the Notes at any time by giving
notice to the Board and discharging its responsibilities with respect thereto under applicable law.
Under such circumstances (if there is no successor securities depositary), the Board shall be
obligated to deliver Nates as described in this Resolution.Whenever DTC requests the Board to do
so,the Board will cooperate with DTC in taking appropriate action afterxeasonable notice to (a)
make available one or more separate Notes evidencing the Notes to any.DTC Participant having
Notes credited to its DTC account or (b) arrange for'another securities'depository to maintain
custody of Certificates evidencing the Notes.
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Notwithstanding any ether provision of this Resolution to the contrary, so long as any
Note is registered in the name of Cede&Co.,as nominee of DTC,all payments with respect to the
principal and interest with respect to such Nate and all notices with respect to such Note shall be
made and given,respectively,to DTC as provided in the representation lettear delivered on.the date
of issuance of the Notes.
Section 6 11sestf.$=CC&.The moneys so borrowed shall be deposited in the Treasury of
the County hi a prom. s fund to the credit of the District to be withdrawn,used and expended by
the District for any purpose for which it is authorized to expend funds from the general fund of the
District,includitrg,but not limit to,currentexpenses caprtal expenditures and the discharge of
any obligation or indebtedness of the District.
Section 7.Sr&udly The principal amount of the.Notes,togetha with the interest thereon,
shall be payable from takes,revenue and ether moneys which aft skived by the District for the
general fund of the District for the Fiscal Yea,0,992-1993 As purity for the payment of the
prmcip of and interest on the Notes,the Board in the name of the District,hereby pledged the
frit a sic ed moneys',as hereinafter defined,(a)in an amount equal to fifty percent(5of
the principal amount%of.the Notes!to be received by dir County on behalf of the District in
December, 1992, (b) in an amount equal to fifty percent (50%),,of the principal amount of the
Notes to be received by the County on behalf of the District in April, 1993,and (c)in an amount
equal to all interest due on the Notes at maturity to be received by the County on behalf of the
District in May,1993 (such pledged amounts being hereinafter called the"Pledged Rovenues").
The principal of the Notes and the interest thereon shall constitute a first Tien and charge thereon
and shad paid from the Fledged Revenues. To the extent not so paid from the Pledged
Revenues, the Notes shall be paid from any c►ther moneys of the District lawfully available
therefor. In the event that there are insufficient unrestricted moneys receivedthe District to
permitt.he tk:posi,t in the Repayment Fund,as hereinafter defined,of the full amount of the Pledged
Revenues to be deposited in any nurnth on the last business day of such month,then the amount of
any deficiency shall be satisfied and matte up from any other moneys of the District lawfully
available for the repayment of the Notes and interest thereon.The term"unrestricted moneys„shall
mean taxes, income,revenue and ether moneys intended as receipts for the general fund of the
District and which are general y available for the payment of current expenses and other obligations
of the District.
Senn Sent Fund.There is hereby created a special fund to be held on behalf of
the District by the County Treasurer-Tax Collector separate and distinct from all other County and
District funds and accounts designated the"Antioch Unified School District(Contra Costa County,
Calif ornia) 1992 Tax and Re ue Anticipation Notes�+ayrnent Mand"' (the"Repast Fund")
and applied as directed;in this Res6lution.,Any money placed in the RcpayMent Fund shall be for
the benefit of the registered owners of the Notes,and until the Nates and all rnterest thereon are
paid or until provision has been made for the payrmnt of the Notes at maturity with:interest to
maturity,the mm ys in the Repayment Fund shall tm applied$olely for the purposes for which the
Repayment Fund is created.;provided,however,that any intemt tamed an amounts deposited in
the Repayment Fund shall periodically be transferred to tete general fund of the District
During the months of December,1992 April 199-3 May, 1993,all PledgedRevenues
shall be deposited into the Repayment Fund.'O—n .lune 30,, 1993, fire County Treasu r--Tax
Collector shall transfer m DTC the moneys in the Repayment Fund necessary to Fay the principal
and ingest on the Nates zv maturity and,to the extent.said moneys are ansufficient therefor,an
amount of moneys from',the District's general fund which will+enahk payment of ihe full pmipal
of and interest on the Dotes a►t maturity. DTC will thereupon snake payments of principal and
interest on the Notes to the OTC-Pa mkipants whet will thereupon make payments to ft.beneficial
owners of the Dotes. Any moneys rematnrng in the Repayment Fund after the Notes and the
interest thereon have been paid,or provision for such payment has been made, shall be transferred
to the District's general fund.
Section'9.P=osit and investment of Repayment Fund. All moneys held on behalf of the
District in the.Repayment Fund, if not invested, shall be held in time or demand deposits as public
funds and shall be secured at all times by bonds or other obligations which are authorized by law: _
as security for public deposits,of a market value at least equal to the amount required by law.
Moneys in the Repayment Fund shall, to the greatest extent possible, be invested by the
County Treasurer Tax Collector, or such other appropriateinvestment officer of the County,';
directly, or through an investment agreement,in investments as permitted by the laws of the State':
of California as now in effect and as hereafter amended,and the proceeds of any such investments.
shall,as received,be deposited in the Repayment Fund and shall be part of the Pledged Revenues.
Section 10. Execjjtion of Notes.The Notes shall be executed in the name and on behalf of
the District,with the manual or facsirnile signature of the County'Treasurer-'Tax Collector or one or
more of his duly authorized deputies and the manual or facsimile counter-signature of the Clerk of
the Board of Supervisors(although at least one of such signatures shall be manual)with the seal of
the'Board'impressed thereon, and said officers are hereby authorized to'cause the blank spaces
thereof to be filled in as may be appropriate.
Section 11.Transfer of Notes. Any Note may,in accordance with its terms,but only if the
District determines to no longer maintain the book entry only status of the Notes,DTC determines
to discontinue providing such services and no successor securities depository is named or DTC'
requests the Treasurer-'Tax Collector to deliver Note certificates to particular DTC Participants,be
transferred,upon the books required to be kept pursuant to the provisions of Section 13 hereof,by
the person in whose name it is registered, mi person or by his duly authorized attorney, upon
surrender of such Note for cancellation at the office of the Treasurer-Tax Collector,accompanied:
by delivery of a'written instrument of transfer in a form approved by the Treasurer-Tax Collector,
duly executed.
Whenever any Note or Notes shall be surrendered for transfer,the'Treasurer Tax Collector
shall execute and deliver a new Note or Notes,for like aggregate principal'amount.
Section 12.Exchange of Notes Notes may be exchanged at the office of the Treasurer-Tax
Collector for a like aggregate principal amount of Notes of authorized denon ationsand of the
same maturity.
Section 13. No tf, Register. The Treasurer-Tax Collector shall keep or cause to be kept
sufficient'books for the registration and transfer of the Notes if the book entry only system is no
longer in effect and,in such case,the Treasurer-Tax Collector shall register or transfer or cause to
be registered or transferred,on said books,Notes as herein before provided.While the book entry
only system is in effect,such:books'need not be kept as the Notes will be represented by one Note
registered in the name of Cede&Co.,as nominee for DTC.
Section 14. p rear, Notes. The Notes may be initially issued in temporary form
exchangeable for definitive Notes when ready fcir delivery,The temporary Notes maybe printed,
lithographed or'typewritten, shall be of such denominations as may be determined by the
Treasurer Tax Collector, and may t~ontain such reference to any of the provisions of this
Resolution as may bt appropriate.Every temporary Note shall be executed by the Treasurer-Tax
Collector upon the carie conditions and in'substantially;thecarnemanner asthe definitive Notes.If
the Treasurer-Tax Collector issues temporary Notes he will execute and furnish definitive Notes
without delay, and thereupon the temporary Notes may be surrendered for cancellation, in
exchange'therefor at the office of the Treasurer-Tax Collector and the Treasurer Talc Collector shall
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deliver in exchange for such temporary Notes an equal aggregate principal amount of definitive
Notes of a ithori d denomination&Until so exchanged,the tempo aly Notes shall be entitled to
the carne benefits pursuant to this Rkesolution as deAhitive Notes executed and deli errdhereunder.
Any costs borne by the County for the exchange of the Notes will be reimbursed by the District.
Section 13. at . 'l 'trta�w.. . stst,*ovci Cox cit n.if any Note!shall lecommutilated
the Treasurer--Ta CbHe. tor,at the expense=of the registered owner of said Note, execute and
deliver a ntw Note of litre niatoriity and prfticipal arriount in exchange and substitution for the Note
so mu lated, but only upon surrender the Treasurerr Tux ollector of tete Note so mutilated.
destroyed
any
Every mutilated Note so surtendew to tbe'frcasurer Tax Collector shalt be canceled by it and
delivered the order of,the Trumr'T' Clecttrr.If Mshall be ote
to,or upon lost,
or stolen, evidence of such lass, destructions theft ntay be submitted to thio Treasurer-'1'ax
Collector and, if such evidence be satisfactory,to the Treasurer-Tax Collector and indemnity
satisfactory to it shall be given, the Treasurer-Tax Collector., at the expense of the registered
owner,shalt exec and cleli.►er a new Note cif like maturity axil pritrcl aurtount.in lieu of aril in
substitution for the Dote so last,destroyed orstolen. The Treasurery�at Collector may require
pa: mim of a sunt not exceeding the actual cost of preparing each new Note issued under this
Section l3 and of tete expenses which may be incurred by;the Treasurer=Tax Collector in tete
prenuses. Any Note issued under the provisions of this tenon 15 in lieu of any Note alleged to be
lost,destroyed or stolen shall constitute ars original additional contractual obligat on on the part of
the Board whether or not the Note so alleged!to be lost, destroyed or stolen be at any time
enforceable by anyone,and shall be etlually and proportionately entitled to. the benefits of this
Resolution with all other Notes'issued pursuant to"Resolution.This section will not be in effect
so long as DTC book entry is utilized.
Section 16.Co en Ms and W=Oties.Based on the representations and covenants off the
District, it is hereby covenanted and warranted by the Board that all representations and recitals
contained in this Resolution as to the County are true aril correct,and that the Board has reviewed
all proceec in : heretofore taken trlaitp the Owhori m- tion of the Notes and hiss found,as a result
Of such review, and hI.ereby fi�and determihes that all acts,conditions and things required by
law to exist,happen and be p rforml precedent to and in the issuance of the Dotes h4vetxisted,
happened and been performed in due time,form and manner as uired by law,and the Board is
duly authorized to issue the Dotes in the name and on behalf of the bistrict and iGncur indebtedness
in the manner and upon;the terms provided in this Resolution,The Bayard and the 13istrictand their
appropriate officials have duly taken all proceedings necessary to be taken by them,and will take
arty additional pctedings ncessary be taken l►r thenrt; for the ►rontpt lltiort arirl
enf€rcernent of the taxes, reytnue, cash receipts and othermoneys pledged hereunder in
accordance with law anti for carrying out tie provisions of this Resolution.
Section M Tjj Cgvrnidia.
(a),ftW�Bud6di t Tse►.Li_M tagon.The Board shall,in reliance upon covenant(s)of this
District to that effect,assure that:
(i)not in excess of ten pmt(1096).,of the-Ace.amount of the Notes,plus aacruccl interest
andpremum, if an les original issue riisconnt, if any (tire 'Tr C) is used,directly or
indirectly,in a trade or bossiness carried On by a natural pawnor in arty activity coed on by a
person other than a natural person,excluding,however,rise by a guvernr€iental unit and use as a
inn nber of the general public("Private Business Use,)if,in addition,the payment of the principal
cif,or the interest on rncire than 10 percent of the Proceeds of the Notes is(und6tthe terms:of the
Dotes or any underlying arrargenreertit)direly car indirectl ,(i)secured by any interest in property,
or payments in res700f owy used tis w be used �or a Private Busir►tss ase, or (iii xo be
derived firorii payments(whether tar not to the Districts in respect of property,or borrowed looney,
used or to be used for a Private Business Use;and
(ii)in the event that in excess of five percent(5%)of the Proceeds of the Notes is used for
a Private Business Use:,and,in addition,the payment of the principal of,or the interest on,more
than five ;(5%) percent of the Proceeds of the Notes is (under the terms of the Notes or,any
underlying arrangement),directly or indirectly,secured by any interest in property,or payments in
respect of property, used or to be used for said Private Business Use or is to be derived from
payments(whether or not to the District)in respect of property,or borrowed money,used or to be
used for a Private Business Use,then,(A)said excess over said five'percent(5%)of the Proceeds
of the Notes which is used for a Private Business Use shallbe used for Private Business Use
related to;a government use of such Proceeds and (B)each such Private Business use over five
percent (5%)of the Proceeds of 1 the'Notes,which is related to a government use of such Proceeds
shall not exceed the amount of such Proceeds which is used for the government use of Proceeds to
which such Private Business Use is related.
(b)P ivate Loan,Limitation. The Board shall, in reliance upon the covenant(s) of the
District to that effect,assure that not in excess of five percent(5%)of the proceeds of the Notes is
to be used,directly or indirectly,to make or,finance loans(excluding investments and excluding
loans which enable the borrower to finance any governmental tax or assessment of general
application for a specific essential"governmental function) to persons other than state or local
government units.
(c)'Federal Qu&=tee ft ibition.7be Board shall,in reliance upon the covenant(s)of the
District to that effect,not take any action or permit or suffer any action to,be taken if the result of
the same would be to cause the Notes to be"federally guaranteed"within the meaning of section
149(b) of the Internal Revenue Code of 1986 (the "Code") and the regulations promulgated
thereunder.
(d)NoArbitrage.The Board shall, in reliance upon the covenants)of the District to that
effect,not take,or permit or suffer to be taken any action with respect to the Proceeds of the Notes
which if such action had been reasonably expected to have been taken,or had been deliberately'and
intentionally taken,on the date upon`.which'there is a physical delivery of the Notes in exchange for
the amount representing the purchase of the Notm by the trriginal purchasers thereof would have;
caused the Notes to be"arbitrage bonds"within the meaning of section 148(a) of the Code and
regulations promulgated thereunder.'
W Rebate of Excess lnves=nl E=W95 to United States.The Board acknowledges that
the District has covenanted that it will assure compliance with requirements for rebate of excess
investment earnings to the federal government in accordance with section 148(f)of the Code,to the
extent applicable.The Board acknowledges that the District has delegated to the Superintendent of
the District(or his designee)on behalf of the District,the responsibility to determine and certify on
behalf of the District whether the District will satisfy the provisions of section 148(f)(4)(D) of the
Cade (the "Small issuer exemption") or section 148(f)(4)(B)(iii) of the Code (the "safe harbor
expenditure exemption').
IS&= Exemption from Bank NondeductibIlity . The Board
acknowledges that the District has delegated to the Superintendent of the District(or his designee)
on behalf of the District,the responsibility to designate'the Notes for purposes of paragraph(3)of
section 265(b)of the Code,if applicable.
Seamon 18. . ale of Notes.The preparation by the District's financial advisor of an official
statement describing the Notes(the"Official,Statement")in connection with the offering'and sale of
the'Notes is hereby approved. The actions of the District's financial advisor,on behalf of the
District and the Board,in distributing the Official Statement to such municipal bond brokers
dealers,to such banking institutions and to such other persons as may be interested in purchasing
the Dotes therein offered for sale,are hereby approved.,
The District's financial advisor,on behalf of the District and the Board, is authorized to
identify a purchaser for the Notes and to negotiate an interest rate and purchase price for the Notes,
so long as the net interest cost to the District does not exceed six percent (6%). The definitive
principal amount of Notes to be issued shall be determined by the District's financial adviser,on
behalf of the District and the Board,at the firne of We of the Notes to the purchaser identified.The
County Treasurer--Tax Collector is hereby authorized and directed to accept an offer from such
purchaser, for and in the name of the Board, by notice to the successful bidder. The County
Treasurer-Tax Collector is hereby authorized to execute a Note purchase agreement or ether
document in connection with such award.
The District's financial advisor is hereby delegated the responsibility of negotiating,
receiving,'opening and analyzing bids submitted for the purchase of the'=.Notes,;;and to report the
results thereof to the County Treasurer-Tax Collector.
Section 19 B=arat nn of the dotes: pxeaUgool) Qf C123ing r-�""ocurne eta. Jones Hall Hill &
White, A 'P'rofessional Law Corporation, as bond counsel to the District, is directed to cause
suitable Notes to be prepared showing on their face that the same bear interest at the rate aforesaid,
and to cause the blank spaces therein to be filled in to comply with the provisions of this
Resolution in accordance with the identified purchaser of the Notes,and to procure theirexecution
by the proper officers,and to cause the Notes to be delivered when so executed to DTC on behalf
of the identified purchaser therefor upon the receipt of the purchase price by the County Treasurer-
Tax Collector on behalf of the District,
The Treasurer-Tax Collector or any other officer of the County are further authorized and
directed to make,execute and deliver to the purchaser or purchasers of the Notes(a)a certificate in
the form customarily required by purchasers of bonds of public corporations generally,certifying
to the genuineness and due execution of the Notes, (b)a receipt in similar form evidencing the
payment of the purchase price of the Notes which receipt shall be conclusive evidence that said
purchase price of the Notes has been paid and has been received on behalf of the District and;,(c) a
certificate attesting to the use of the proceeds of the Notes,the investment thereof,and any other'
matters relating to the tax exemption of the Nates pursuant'to section 148(a) of the Code. Any
purchaser or subsequent taker or holder of the Nates is hereby authorized to rely upon and shall be
justified in relying upon any such certificate or receipt with respect to the Nates. Such officers and
any;other officers of the District or of the County are hereby authorized to execute any and all other
documents required to consununate the sale and delivery of the Nates.
Secdon 24.LiWjkd U&Wily.Notwithstanding anything to the contrary contained herein,in
the Notes or in any other document,mentioned herein,neither the County nor the Beard shall have
any liability hereunder or by reason hereof or in connection with the transactions contemplated
hereby and the Nates shall be payable solely from the moneys of the District available therefor as
set forth in Section 7 hereof.
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I hereby certify that the foregoing resolution was duly adopted at a meeting of the Board of
Supervisors of Contra Crista County held on the 2nd day of June, 1992,by the following vote:
AYES,: Supervisors Powers, Fanden Schroder, Torlakson McPeak`
NOES : Done
ABSENT: None
X
Chair,—Toard of Supervisors
Attest :
Phil Batchelor, Clerk of the
Board of Supervisors and
County Administrator
By
4eA
Puty Clerk
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RESOLUTION NO. 92/364
' EXHERff A
Board of Supervisors of Contra Costa County,California
on Behalf and in the Name of the
AISMOCH UNIFIED SCHOOL DISTRICT
(Contra Costa County;California)
1992 TAX AND REVENUE ANTICIPATION:NOTE
INTEREST RATE: INATURTTY DATE. 1 ISSUE DATE; CUSIP:
June 30, 1993 July 1, 1992
REGISTERED OWNER: CEDE&CO.
PRINCIPAL SUM: DOLLARS
The ANTIOCH UNIFIED SCHOOL DISTRICT,Centra Costa County,State of California
(the"District),acltnowledges itself indebted,and premises to pay,t the.Registered Owner stated
above,or registered assigns(the"Owner"'),on the Maturity gate stated above,the Principal Sum
stated above, in lawful money of the United States of America,and to pay interest thereon in like
lawful money at the rate per annum stated above, payable on the Maturity Date stated above,
calculated on,the basis of 3C '-day year cornposel of twelve 3 -day month S.Bout the principal of
and interest on this Note shall be payable at maturity to the Owner.
It is hereby certified,recited and declared that this Note is one of an authorized issue of
Notes in the aggregate principal amount of dollars ($ ), all of
life tenor,issued'pursuant to the provisions of a resolution of the Board of Supervisors of Contra
Costa County(the"Board")entitled'"Resolution'Providing for the Borrowing of Funds for Fiscal''
Year 1992.1993 and the Issuance and 'Sale of 1992 Tax' and Revenue Anticipation Notes
Therefor,"'duly passed and adapted on June 2, 1992 (the"Resolution"),and pursuant to Article
7.6 (commencing with section 53 850)of Chapter 4,Part 1, Division 2,Title 5, of the California
Government +Code, and that all things, conditions and acts required to exist, happen and be
performed precedent to and in the issuance of this Note exist, have happened and have been
performed: in regular and due time, form and manner as required by law, and that this Note,
together with all other indebtedness and obligations of the District, does not exceed any limit
prescribed by the constitution or statutes of the State of California.
The principal amount of the Notes,together with the interest thereon,shall be payable from
taxes, revenue and other moneys which are received by the County on behalf of the District for
Repayment Fuad of the District(as defined in the Resolution)for the Fiscal Year 1992-1993. As
security for the payment of the principal of and interest on the Notes,the Board,in the name of the
District,has pledged the fust"unrestricted moneys",as hereinafter defined,(a)in an amount equal;
to fifty percent(50%)of the principal amount of the Notes to be received by the County on behalf
of the District in December, 1992, (b)in an amount equal to fifty percent(50%) of the principal
amount of the Notes to be received by the County on behalf of the District in April, 1993,and (c)
in an amount equal to all interest clue on the Notes at maturity to be received by the County on
Exhibit A
Page I
RESOLUTION NO. 92/364
r
behalf of the District in May, 1993 (such pledged:amounts being hereinafter called the"Pledged
Revenues"). The principal of the Notes and the interest thereon shall constitute a first lien and
charge thereon and shall be paid from the Pledged Revenues. To the extent not so paid from the
Pledged Revenues,the,Notes shall be paid from any other moneys of the District lawfully available
therefor. The term "unrestricted moneys" shall mean taxes,income, revenue and other moneys n.
intended as receipts for the general fund of the District and which are generally available for the
payment of current expenses and other obligations of the District.
The Notes are issuable as fully registered Notes, without coupons, in denominations of
$1,000 and any integral multiple thereof. Subject to the limitations and conditions as provided in
the Resolution, Notes may be exchangedfor a like aggregate principal amount of Notes of other
authorized denominations and of the same maturity.
The Notes are not subject to redemption prior to.maturity.
This Note is transferable by the Owner hereof, but only under the circumstances, in the
manner and subject to the limitations provided in the Resolution.Upon registration of such transfer
a new Note or Notes, of authorized denomination or denominations, for the same'aggregate
principal amount and of the same maturity'will be issued to the transferee in exchange herefor.
The Board may treat the Owner hereof as the absolute owner hereof for all purposes;and
the Board shall not be affected by any notice to the contrary.
THE NOTES ARE QUALIFIED 'TAX-EXEMPT OBLIGATIONS DESIGNATED BY
THE BOARD FOR PURPOSES OF SECTION 265(b)OF THE IN'T'ERNAL REVENUE CODE
OF 1986.
IN WITNESS WHEREOF,the Board of Supervisors of Contra Costa County,'California'
has caused this Note to be issued in the name of the District and to be executed on behalf of the
District by the manual signature of the County Treasurer-Tax Collector and countersigned by the
facsimile signature of the Clerk of the Board,all as of the Issue Date stated above.
BOARD OF SUPERVISORS OF CONTRA'
COSTA COUNTY
By
CountyTreasurer-Tax Collector
(S E A L)''
Countersigned.
By
Clerk of the Board
Exhibit.A
Page 2
ABBREVIATIONS
The following abbreviations,when used in the inscription on the face of this Note,shall be
construed as though they were written out in full according to applicable laws or regulations:
TEN COM as tenants in common UNIF GIFT MIN ACT Custodian
TEN ENT--as tenants by the (Cust) (Minor)
entireties under Uniform Gifts to Minors
TT TEN--as joint tenants with Act
right;of survivorship (State)
and not as tenants in
common
ADDITIONAL ABBREVIATIONS MAY ALSO BE USED
THOUGH NOT IN THE LIST ABOVE
(FORM OF ASSIGNMENT)
For valuereceived the undersigned hereby sells, assigns and transfers unto
(Name, Address and Tax Identification or Social Security Number of Assignee)
the within-registered Nate and hereby irrevocably;,constitute(s) and appoints(s)
attorney,
to transfer the same on the Note register of the Beard with full power of substitution in the premises.
Dated:
Signature:
Nate: The signature(s) on this Assignment
must correspond with the name(s) as written>
on the face of the within Note in every
particular without alteration or enlargement or
any change whatsoever.
Signature 'Guaranteed:
Note: Signature(s) must be guaranteed by a'
member 'firm of the New York Stock
Exchange or a commercial' bank or trust
company.
Exhibit A
Pale 3