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Home My WebLink AboutRESOLUTIONS - 01011999 - 1999-062 RESOLUTION NO. 99162 OF THE BOARD OF SUPERVISORS OF THE COUNTY OF CONTRA COSTA, CALIFORNIA RESOLUTION AUTHORIZING AND RATIFYING THE ISSUANCE AND SALE OF COUNTY OF CONTRA COSTA PUBLIC FINANCING AUTHORITY LEASE REVENUE BONDS (REFUNDING AND VARIOUS CAPITAL PROJECTS), 1999 SERIES A; AUTHORIZING AND CONFIRMING THE FORMS ANIS THE EXECUTION OF A TRUST AGREEMENT, A MASTER SITE LEASE, A FACILITY LEASE (VARIOUS CAPITAL PROJECTS), A LETTER OF INSTRUCTIONS, A CONTINUING DISCLOSURE AGREEMENT AND AN OFFICIAL STATEMENT; RATIFYING AND CONFIRMING THE BOND PURCHASE CONTRACT; APPROVING THE BASE RENTAL PAYMENTS UNDER SAID FACILITY LEASE; AND APPROVING ALL ACTIONS TAKEN IN CONNECTION THEREWITH. WHEREAS, this Board of Supervisors (this "Board")by Resolution No. 981 618 adopted December 8, 1998, has authorized the issuance and sale of the County of Contra Costa Public Financing Authority Lease Revenue Bonds (Refunding and Various Capital Projects), 1999 Series A(the"Bonds") in order to refund and defense certain outstanding County of Contra Costa 1988 Certificates of Participation for Consolidated Capital Projects, Equipment Acquisition Program and Countywide Telecommunications Network (herein called the "Prior Certificates"), to finance certain County facilities and to pay the costs of issuing the Bonds; WHEREAS, there has been presented to this meeting a report of the sale of the Bonds; WHEREAS, this Board desires to authorize, ratify and confirm the issuance and sale of the Bonds and the execution of the following documents: I. Trust Agreement, dated as of February 1, 1999 (the "Trust Agreement"), by and among U.S. Bank Trust National Association, as trustee (the "Trustee"), the County of Contra Costa Public Financing Authority(the"Authority") and the County; 2. Master Site Lease, dated as of February 1, 1999 (the "Site Lease"), by and between the County and the Authority; 3. Facility Lease (Various Capital Projects), dated as of February 1, 1999 (the"Facility Lease"),by and between the Authority and the County; 4. Letter of Instructions, dated as of February 1, 1999 (the "Letter of Instructions"), from the Authority and the County to the trustee for the Prior Certificates; DOCSSF i:3303$9.2 5. Continuing Disclosure Agreement, dated as of February 1, 1999 (the "Continuing Disclosure Agreement),by and between the County and the Trustee; 6. Official Statement relating to the Bonds (the"Official Statement"); and 7. Bond Purchase Contract, dated January 21, 1999 (the "Purchase Contract"), among the Authority, the County and Bear, Stearns & Co. Inc. and Merrill Lynch c& Co., as underwriters; WHEREAS, this Board has been presented with forms of each document numbered 1 through 5 referred to above, and this Board has examined and approved the form of each such document and desires to authorize, ratify and confirm the issuance and sale of not to exceed $74,685,000 aggregate principal amount of the Bonds and the execution of such documents in substantially such forms and the consummation of such financing; and WHEREAS, this Board has been presented with copies of documents numbered 6 and 7 referred to above, and this Board has examined each such document and desires to ratify and confirm the execution of such documents; and WHEREAS, the County has full legal right, power and authority under the Constitution and the laws of the State of California to enter into the transactions described herein; NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the County of Contra Costa, California, as follows. Section. The foregoing recitals are true and correct. Secy . The issuance and sale of the Bonds and the terms of the Bonds as set forth in the Trust Agreement are hereby authorized,ratified and confirmed. X12. The execution and delivery of the Trust Agreement, the Site Lease, the Facility Lease, the Letter of Instructions and the Continuing Disclosure Agreement, each in substantially the form presented to this Board with such changes therein as may be approved or required by the officer of the County executing such documents, such approval to be conclusively evidenced by the execution and delivery thereof, are hereby authorized and confirmed. ,Section 4. The Purchase Contract in the form presented to this Board and the execution and delivery thereof is hereby ratified and confirmed. Section-5. The Official Statement describing the Bonds and the execution and delivery thereof is hereby ratified and confirmed. Sectiomb. The schedule of base rental payments set forth in EMMIT A hereto is approved and is hereby determined to be the schedule of base rental payments to be paid pursuant to the Facility Lease. DOCSSF t:330389.2 2 Sectiop All actions taken or to be taken by the officers and agents of the County with respect to the issuance and sale of the Bonds are hereby authorized, ratified and confirmed. oocssFI: 30389.2 3 Section. This Resolution shall take effect from and after its adoption. PASSED AND ADOPTED this 23`d day of February, 1999. r an of the Board of Supervisors ounty of Contra Costa, California [Seal] ATTEST: Philip J. Batchelor,Clerk of the Board of Supervisors and County Administrator By Depu Clerk of the Board of Supervisors of the County of Contra Costa, State of California DOCSSF 1:330389.2 .._AHIR1T A--atass Rental Payment gOhadLtr County of Contra Costa Public Financing Authority Loase Revenue Bonds (Refunding and Various Capital Projects), 1999 Series A Total Date 611199 Ras( 2,429,9'34.17 1211199 1,708,931.25 611100 3,916,931.25 5,623,862.50 1211100 1,662,731.25 6/1/01 4,322,731.25 5,985,462.50 12/i/Ol 1,609,531.25 6li/02 4,374,531.25 5,964,062.50 12/1102 1,854,231.25 811103 4,439,231.25 5,993,462.50 1711103 1,496,531.25 611/04 4,496,531.25 5,993,062,50 12/1104 1,436,531.25 6/1105 4,551,531.25 5,988,062.50 1211105 1,374,231.25 611/06 4,609,231.25 5,983,462.50 1211106 1,309,531.25 611107 4,674,531.25 5,984,062.50 1211107 1,242,231.25 611108 4,747,231.25 5,989,462.50 i 2li/08 1,154,606.25 611109 3,759,606,25 4,914,212.50 1211109 1,099,901.25 6/1110 3,824,901.25 4,924,802.50 1211110 1,041,995.00 6/1111 3,876,995.00 4,918,990.00 12/1111 979,625.00 66112 3,944,625.00 4,924,250.00 1211112 901,793.75 611113 4,016,793.75 4,918,567,50 1211113 820,025.00 6/1/14 4,100,025.00 4,920,050.00 12/1114 733,925.00 wi/15 4,186,925.00 4,922,850.00 12/1/15 643,231.25 611116 4,273,231.25 4,916,462.50 1211116 $47,943.75 611/17 1,937,943.75 2,485,887.50 i2liti7 $14,931.25 611/1$ 1,969,931.25 2,484,662.50 12/1/18 480,375.00 6/i/19 2,005,375.00 2,485,750.00 '1211119 442,2150,00 611/20 2,042,250.00 2,484,500.00 1211120 402,250.00 611121 2,087,250.00 2,489,500.00 1211121 360,125.00 611122 2,130,125.00 2,490,250.00 12/1122 315,875.00 611123 2,170,875.00 2,486,750.00 1211123 269,500.00 6H/24 2,219,500.00 2,469,000.00 1211124 220,750.00 611125 2,270,750.00 2,491,500.00 12/1/25 169,500.00 611126 2,319,500.00 2,489,000.00 121`1126 1`151750.00 611/27 2,375,750.00 2,491,500.00 1211/27 59,250.00 61il26 2,429,250.00 2,488,500.00 Total 125,172,121,67 `1211,i7Z,121.67 CLERK'S CERTIFICATE I, Ann Cervelli, Deputy Clerk of the Board of Supervisors of the County of Contra Costa,hereby certify as follows: The foregoing is a full, true and correct copy of a resolution duly adopted at a regular meeting of the Board of Supervisors of said County duly and regularly held at the regular meeting place thereof on the 23`d day of February, 1999, of which meeting all of the members of said Board of Supervisors had due notice and at which a majority thereof were present; and at said meeting said resolution was adopted by the following vote: AP'Ir" Supervisors Gioia, Uilkema, Gerber, DeSaulnier and Canciamilla AIN: None NOES: None ABSENT: None An agenda of said meeting was posted at least 96 hours before said meeting at 6 51 P i n e S t . ,Martinez,California, a location freely accessible to members of the public, and a brief general description of said resolution appeared on said agenda. I have carefully compared the same with the original minutes of said meeting on file and of record in my office; the foregoing resolution is a full, true and correct copy of the original resolution adopted at said meeting and entered in said minutes; and said resolution has not been amended, modified or rescinded since the date of its adoption, and the same is now in full force and effect. WITNESS my hand and the seal of the County of Contra Costa this 23rdday of February, 1999. OA'A4a& Deputy Clerk of the Board of Supervisors of the County of Contra Costa, State of California [Seal] DOCSSF 3:334389.2 AFFIDAVIT OF POSTING OF AGENDA STATE OF CALIFORNIA } } ss. COUNTY OF CONTRA COSTA } Cynthia Turner hereby declares that s he is a citizen of the United States of America, over the age of 18 years; that acting for the Board of Supervisors of the County of Contra Costa she posted on Februaryl8 , 1993, at 651 Pine St ., Martinez, California, a location freely accessible to members of the public, an agenda for the regular meeting of the Board of Supervisors of Contra Costa County to be held on February 23, 1999, a copy of which is attached hereto. Dated: February 2 3, 1999. I declare under penalty of perjury that the foregoing is true and correct. Cy hia Sue Turner nnCssFI:330389.2