HomeMy WebLinkAboutRESOLUTIONS - 01012002 - 2002-025 RESOLUTION NO. 2002/25
25
COUNTY OF CONTRA COSTA
A RESOLUTION APPROVING THE ISSUANCE OF TAX-EXEMPT
OBLIGATIONS BY THE ABAG FINANCE AUTHORITY FOR NONPROFIT
CORPORATIONS
Local Government
Participant: County of Contra Costa,California
Issuer: ABAG Finance Authority for Nonprofit Corporations
Borrower: Mt. Diablo Region YMCA, a California nonprofit public benefit
corporation which is recognized as an exempt entity under
Section 501(c)(3) of the Internal Revenue Code of 1986, as
amended (the "Code")
Project: (a) refinancing certain outstanding indebtedness of the
Corporation (the "Outstanding Indebtedness"), the proceeds of
which financed capital projects for the Corporation; and (b)
financing the acquisition and construction of a modular building
to be located on the Mt. Diablo Region YMCA campus in
Pleasant Hill,California (the "Project).
Maximum
Principal Amount: $7,000,000
Public Hearing Date: January 17,2002
WHEREAS, the Borrower has requested that the Issuer issue revenue bonds (the
"Bonds") in an aggregate principal amount not expected to exceed the Maximum Principal
Amount for the purpose of providing a loan to the Borrower in order to finance the Project
and related costs;and
WHEREAS, the Project is located within the jurisdiction of the Local Government
Participant;and
WHEREAS, the Issuer has requested that the Board of Supervisors, as the governing
body of the Local Government Participant, approve the issuance of the Bonds in order to
satisfy the public approval requirement of Section 147(f)of the Code;and
WHEREAS, the Local Government Participant held a public hearing on the Public
Hearing Date,providing a reasonable opportunity for persons to comment on the issuance of
the Bonds and on the Project;and
WHEREAS, it is intended that this resolution constitute the approval of the issuance
of the Bonds as required by Section 147(f) of the Code;
Wpersonal\documents\ymca.tefraresolution.1.02.02
NOW, THEREFORE, BE IT RESOLVED, that the Board of Supervisors, as the
governing body of the Local Government Participant,hereby finds, determines and declares
that issuance by the Issuer of the Bonds in the maximum principal amount of$7,000,000, for
the purposes described above,is hereby approved.
RESOLVED FURTHER, the Clerk of the Local Government Participant shall certify
the adoption of this resolution, and thenceforth and thereafter the same shall be in full force
and effect.
The undersigned hereby certifies that the foregoing resolution was approved and
adopted by the Board of Supervisors, as the governing body of the Local Government
Participant,this 22nd day of January,2002,by the following vote:
AYES: SUPERVISORS UILKEMA, GERBER, DESAULNIER, GLOVER and GIOIA
NOES: NONE
ABSTAIN: NONE
Chair of a Board of Supervisors
ATTEST: John Sweeten,
County Administrator and Clerk of
The Board Supervisors
By: _----
eputy Clerk