HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-412 yam, RnsoutmoNo jam/ LIA
A RESOLUTION OF THE COUNTY OF CONTRA COSTA PUBLIC
FIN LACING AUTHORITY. DESIGNATING A DEPUTY EXECUMM
IlIRSCT OR AND ASSISTANT SECRETARIES OF TEM AUTHORITY AND
A ° II(? MG CERTAIN 4PFICIAL ACTIONS
WHEREAS, the County of Contra Costa (the "County") and the Contra Costa
County Redevelopment Agency (the "Agency") have heretofore entered into a Joint
Exercise of Powers Agreement establishing the County of Contra Costa Public lriaancin
Authority (the "Authority")for the purpose, among others, of issuing its bonds to be use
to provides f>xtancial asdiuince to the Agency;and
VMREAS, the Agency is undertalc3,h to resist the redevelopment of its Pleasant
Hill,North Richmond, West Pittsburgand e�� R svelopmeat Projects (oollecdv*,
the Redevelopment Projects ), and the Agency has previously issued its Pleasant Bill
BART station Area Redevel out Project 1987 Tax Allocation Notes in the initial
aggregate principal amount of�7,500,000(the"Notes");and
WHEREAS, the Agency► has determined that due to prevailing financial market . `\
conditions it is in the best interests of the Agency to realize interest rate savings by
reftu�►di t9 the Notes at this time, and theAgency has requested the Authority to lend it
funds in an amount suf dent for such p ose and also to provide additional financing
for the Redevelopment Pete, including low and moderate income housing programs
of the Aged; and
WHEREAS, for the purpose of raising funds necessary to provide such financial
assistance to the Agency, the Authority proposes to authorize the issuance of its revenue
bands (the "Bonds")under the provisions of 4 (commencing-with Section 6584) of
Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the
"Act'), to be designated as t1w County of Contra Costa Public Financing Authority 1892
Tax Allocation Revenue Bonds, Series A(Pleasant MR, North Richmond,"'Fest Pittsburg
and Oakley Redevelopment Project Areas).and
YMEREAB, the proceeds of the Bonds will be applied to make four loans
(collectively, the "Loans") to the Agency pursuant to four separate Loan Agreements,
each dated as of May I, 1992(collectively,the"Loan Agreements T,and
WHEREAS, the Board of Directors (the "Board") of the Authority has duly
considered such transactions and wishes at this time to appoint a Deputy Executive
Director and Assistant Secretaries of the Authority and authorize, but not;require, such
Assistant Secretaries and the Secretary of the Authority to attest to the execution of
documents in connection with the issuance and delivery of the Bonds.,
NOW,Tom'EFORE,BE IT RBSOLVED,by the Board of Directors of the County of
Contra Costa Public Dancing Authority as follows:
Swdon L AdditiOnal OfAcm ofthe Authority. The Board hereby designates the
T eputy Director Redevelopment of the County of Contra Costaas the Deputy Executive
F)irector of the Authority. The,Board hereby''designates any and all Deputy,Clerks of the
Board of Supervisors of tha County of Contra Costa as Assistant';Secretaries of the
Authority. The ,Assistant 8eeretares of the Authority are hereby authorised to
countersign all oontracts signed by the Cher, 'Vice-Chair, the Executive Director,
Assistant Executive Director or Deputy Executive firectrrr of the Authority, Including but
not limited tc, all contracts to be executed in connection with the issuance and delivery-of
the Bonds, and to perform each other duties as may be imposed an the Secretary of the
Authority by the Board.
Owdon L AcHons,of the Semvtary and Assistant 8earetarie s of the Authority.
Pursuant to Resolution No.9039 the Secretary of the Authority is required to attest to the
execution of certait► dr currents oxecuted in connection with the issuance and delivery;of
the Bonds. The Bard hereby determines that attestation by the Secretary or Assistant
Secretaries of the Authority of certain dc'mments executed in can eation with the
issuance and delivery of the Bonds shall not be required and the direction by the Board to
the Secretary*of the Authorityto attest to the execution of such documents to hereby
rescinded.
Send=&wefie. `his Resolution"tLU effect from and after the data
of its passage and adopt m.
PASSED,APPROVED AND ADOPTED this 16 day of dune, 1992 by the foltow gag
vote:
AyES- Supervisors Powers', Fanden Schroder, Torlakson,
McPeak
NOES: None
ABSENT: None
ABSTAIN: None"
Chair, County of Contra Costa Public
Financing Authority
ATTEST: Phil Batchelor, Authority
Secretary
Br.
Assistant Secretary
i
I HEREBY CYER',l'ZF"Y that the foregoing reeolutioa was duly and regularly.passed
and adopted by the County of Contra Costa ublic Financial Authority at a regular
meeting thereof held on the Oth day of June 1992 and that the foregoing Is'a full,true and
cozreet copy of said solution.
Phil Batchelor,Secretary of the County of
Contra Costa public Dancing Authority
8y: .
tent Secretary