HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-411 RESOLUTION NO.qa14-11'
SOLUTION AUTHORING TME,COUNTY OF CONTRACOSTA
PUBLIC FINANCING AUTHORITY("PUBLIC AGENCY")
TO JOIN'WITH OTHER PUBLIC AGENCIES
AS A PARTICMANT'OF THE
CALIFORNIA ARBITRAGE MANAGEMENT TRUST
AND TO DMEST IN SHARES OF THE TRUST
AND IN INDIVIDUAL PORTFOLIOS
WHEREAS, Section 6502 of Title 1, Division ?, Chapter 5 of the Government Code of the State of
California(the "Joint Exercise of Powers Act')provides that,if authorized by'their legislative or other governing
bodies, two or more public agencies by agreement may jointly exercise any'power common to the contracting
parties; and
Whereas, Under Section 6500 of the Joint Exercise of Powers Act,a*public agency"includes,but is not
limited to,any California county,county board of education,county superintendent of schools,city,city and county,
public corporation,public district,'regional transportation commission or state department or agency; and
WHEREAS,public agencies which constitute local agencies, as that term is defined in Section 53630 of
Title 5,Division 2,Part 1,Chapter 4,Article 2 of the Government Code of the State of California, are authorized
pursuant to section 53635 thereof to invest all money belonging to,or in the custody of,the local agency in certain
specified investments;and
WHEREAS, the.California Arbitrage Management Trust(the'"Trust") was established, pursuant to and
in accordance with the Joint Exercise of Powers Act, by a Declaration of Trust, made as of December 15,;1989
(the "Declaration of Trust")by Monterey'Peninsula Water Management District and Placer County, as the initial
Participants,as a vehicle for public agencies to jointly exercise their common power to invest bond proceeds, and
to secure related record keeping,custodial and Federal arbitrage rebate calculation services; and
WHEREAS, pursuant to and in accordance with the Joint Exercise of Powers Act, the Public Agency
dekres to join the other public agencies which are or will be Participants of the Trust by adopting and executing
the Declaration of Trust, a'form which has been presented to this meeting; and
WHEREAS, the Public Agency is a public agency as that term is defined in the Joint Exercise of Powers
Act; and
WHEREAS, there has been presented to this,meeting an Information Statement describing the Trust and
the Individual Portfolios to be managed by the Investment Adviser to the Trust(the*Information Statement,);
NOW,THEREFORE,BE IT IUMLVED by the Governing body of the Public Agency as follows:
fttion 1. Public Agency shall join with other public agencies pursuant;to and in accordance with the joint
Exercise of Powers Act by executing the Declaration of Trust and thereby becoming a Participant in the Trust,
which Declaration of Trust is hereby approved and adopted. A copy of the Declaration of Trust shall filed
`with
the minutes of the meeting at which this Resolution was adopted. The Presiding Officer of Governing Body is
hereby authorized to execute,and the Attesting Officer of Governing Body is hereby authorized to attest'and deliver,
the Declaration of Trust, in substantially the form presented at this meeting.
t%. The Public Agcy is hereby suth0d2ad to punch a shares is..4'Tr'ust from time to time with
available band proceeds of the Public Agency,and to rodeem some or all of those shares frown fime to fire as such
Proceeds an weded for the purposes for which such bonds were issued:
fig. 3. The Public Agency is hereby authorized to invest available bond proceeds of the Public Agency
frons time to time in one or mems Individual Portfolios managed by the Invest Adviser to the Trustand
sbrscr bed in the Infonnation Statement.
sect= The sppmpriate of#iom, agents and employees of Public Agency,are hereby authorized and
directed in ihazame and on behalf of Public Agency to take alt actions and to mine and execute any and all
certificates,motions,agreements,notices.its,warrants and other documents,which they,or any of them,
might deem necessary or appropriate in order to accomplish the purposes of Resolution,
j*2don 5. This Resolution abali take effect at the earliest date permitted by law.
PASSED BY THE BOARD on June 16, 1992 by the following vote:
AYES: Supervisors Pourers , Fanden, Schroder, Torl'akson,
McPeak
Noes : None'
Absent: None
By �-v s
Sunt Wright McPeak, Chair
ATTEST. Phil Batchelor,County Administrator
and Clerk of the Board of Supervisors
By.
*W'0; -
Deputy
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