HomeMy WebLinkAboutRESOLUTIONS - 01012001 - 2001-239 BOARD OF SUPERVISORS OF THE COUNTY OF CONTRA COSTA
RESOLUTION NO. 2001/239
RESOLUTION APPROVING THE ISSUANCE OF QUALIFIED 501(c)(3)
REVENUE BONDS BY THE CALIFORNIA STATEWIDE COMMUNITIES
DEVELOPMENT AUTHORITY FOR THE TEHIYAH DAY SCHOOL
WHEREAS, the California Statewide Communities Development Authority (the
"Authority") is authorized pursuant to the provisions of California Government Code Section 6500 et
seq. and the terms of an Amended and Restated Joint Exercise of Powers Agreement, dated as of June
1, 1988 (the "Agreement"), among certain local agencies throughout the State of California, including
the County of Contra Costa (the "County"), to issue revenue bonds in accordance with the Agreement
and California law; and
WHEREAS, the Tehiyah Day School (the "Borrower"), a nonprofit corporation under
Section 501(c)(3) of the Internal Revenue Code of 1986 (the "Code"), has requested that the Authority
issue qualified 501(c)(3) revenue bonds in an aggregate principal amount not to exceed $6,250,000
(the "Bonds") to finance or refinance the acquisition, construction, rehabilitation and equipping of
various educational facilities, including additional facilities for additional classrooms, an auditorium,
library, art and science rooms, computer/math center, and new athletic areas, located at 2603 Tassajara
Avenue, El Cerrito, California (the "Project"); and
WHEREAS, the Bonds will be "private activity bonds" for purposes of the Code; and
WHEREAS, pursuant to Section 147(f) of the Code private activity bonds are required
to be approved by the "applicable elected representative" of the governmental units on whose behalf
such bonds are expected to be issued and by a governmental unit having jurisdiction over the entire
area in which any facility financed or refinanced by such bonds is to be located, prior to their issuance
and after a public hearing held following reasonable public notice; and
WHEREAS, the members of this Board of Supervisors (this "Board") are the applicable
elected representatives of the County; and
WHEREAS, there has been published at least 14 days prior to the date hereof, in a
newspaper of general circulation within the County, a notice that a public hearing regarding the Bonds
would be held on the date hereof, and
WHEREAS, such public hearing was conducted on said date by this Board, at which
time an opportunity was provided to interested parties to present arguments both for and against the
nature and location of the Project and the issuance of the Bonds; and
WHEREAS, it is intended that this resolution shall constitute the approval of the
issuance of the Bonds required by Section 147(f) of the Code and Section 9 of the Agreement, as
applicable;
NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the County
of Contra Costa, as follows:
Section 1. The above recitals are true and correct.
Section 2. The Board hereby approves the issuance of the Bonds by the Authority
for the Project. It is the purpose and intent of the Board that this resolution constitute approval of the
Bonds for purposes of(a) Section 147(f) of the Code and (b) Section 9 of the Agreement.
Section 3. The officers of the County are hereby authorized and directed, jointly
and severally, to do any and all things and to execute and deliver any and all documents that they deem
necessary or advisable in order to carry out, give effect to and comply with the terms and intent of this
resolution and the financing approved hereby.
Section 4. The Clerk of the Board is hereby directed to forward a certified copy of
this Resolution to:
Ana Marie del Rio, Esq.
Orrick, Herrington and Sutcliffe
Old Federal Reserve Bank Building
400 Sansome Street
San Francisco, CA 94111-3143
Section 5. This resolution shall take effect immediately upon its passage.
PASSED AND ADOPTED this 12f' day of June, 2001.
Ch of the Boat&of Supervisors
County of Contra Costa, California
[Seal]
ATTEST:
Clerk of the Bo d of Supervisors and County Administrator
By
Deputy erk of the Board of
Supe ors of the County of
Contra Costa, State of California
NOTICE OF PUBLIC HEARING
REGARDING THE ISSUANCE OF REVENUE BONDS
FOR THE TEHIYAH DAY SCHOOL
NOTICE IS HEREBY GIVEN that, at 9:30 a.m., or as soon thereafter as the
matter can be heard, on Tuesday, June 12, 2001, in the Board of Supervisors Chambers, Hall,
651 Pine Street,Martinez, California, the Board of Supervisors of the County of Contra Costa(the
"County") will conduct a public hearing as required by Section 147(f) of the Internal Revenue
Code of 1986 (the "Code"), at which it will hear and consider information concerning the
proposed issuance by the California Statewide Communities Development Authority of not to
exceed $6.25 million aggregate principal amount of revenue bonds to finance and refinance the
acquisition, construction, renovations and equipping of certain educational facilities, including
additional facilities for additional classrooms, an auditorium, library, art and science rooms,
computer/math center, and new athletic areas, located at 2603 Tassajara Avenue, El Cerrito,
California (the "Project"), to fund reserves and to pay other costs related thereto. The Project is
owned and operated by the Tehiyah Day School, a California nonprofit corporation described in
section 501(c)(3) of the Code.
Those wishing to comment on the proposed financing and the nature and location
of the Project may either appear in person at the public hearing or submit written comments,
which must be received by the County prior to the hearing. Written comments should be sent to
Laura Lockwood, Director of Capital Facilities and Debt Management, County of Contra Costa,
651 Pine Street, 6th Floor,Martinez, California 94553-1290.
COUNTY OF CONTRA COSTA
Dated: May 25, 2001
DOCSSF 1:531144.3
40929-198 AD1