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RESOLUTION NO. 86/313
RESOLUTION DETERMINING ASSESSMENTS REMAINING UNPAID
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
The Board of Supervisors of the County of Contra Costa
resolves:
The County Treasurer has filed a list of all payments
received on account of assessments levied in East Bates Avenue
Assessment District No. 1984-2, Contra Costa County, California, and
a list of all assessments or portions of assessments unpaid after
thirty (30) days following. the recordation of the assessments.
A copy of the Paid and Unpaid List is attached to this
resolution as Exhibit A and included in it. The Board of
Supervisors shall issue improvement bonds under the provisions of
the Improvement Bond Act of 1915 of the State of California upon the
security of the assessments shown as unpaid on the attached list.
The Clerk of the Board shall transmit a copy of this
resolution to the County Auditor . The County Auditor is requested
to comply with the provisions of Section 8682 of the Streets and
Highways Code in the collection of installments of these assessments
on the assessment roll for taxes.
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the Board of Supervisors of the County of
Contra Costa, State of California, at a regular meeting thereof,
held on the 3rd day of June, 1986 .
ATTEST: June 3, 1986
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By
cc: Bond Counsel
Engineer of !Mork
Auditor
Public Works Director
County Counsel
PAID AND UNPAID LIST: PAGE 1
East Bates Avenue Assessment District No. 1984-2
Contra Costa County, California
----------
-----------------------------------------
----------------------------
ASSESSMENT NUMBER AMOUNT -PAID-, CREDITED UNPAID
------------------------------------ ------------------------------------
1 $325,836.00 $ .00 $ .00 $325 ,836.00
2 93,017. 00 .00 .00 93,017.00
3 9' 813 .00 .00 .00 9,813.00
4 5,,687.00 .00 . 00 5,687. 00
5 6, 133.00 .00 .00 6, 133 .00
6 6, 133.00 .00 .00 6, 133. 00
7 6, 133.00 .00 .00 6, 133.00
8 6, 133 .00 .00 .00 6, 133.00
9 7,917.00 .00 .00 7,917.00
10 7,360.00 .00 .00 7,360.00
11 7,471 .00 .00 .00 7,471 .00
12 7, 137. 00 .00 .00 7, 137. 00
13 18, 399. 00 .00 .00 18,399. 00
14 6, 133 .00 .00 .00 6, 133.00
15 6, 133.00 5,397.04 6, 133 .00 .00
16 21 ,633.00 19,037.04 21 ,633 .00 .00
17 6,468.00 .00 .00 6,468. 00
18 6,468.00 .00 .00 6,468.00
19 6,468. 00 .00 .00 6,468.00
20 6,468.00 5 ,691 . 84 6,468.00 . 00
21 6,468.00 .00 .00 6,468.00
22 6,802.00 .00 .00 6,802.00
23 7, 583 . 00 .00 .00 7, 583 .00
24 8, 140. 00 .00 .00 8, 140.00
25 214, 113 .00 .00 .00 214, 113 .00
26 541 ,359.00 .00 .00 541 ,359. 00
27 11 , 151 . 00 .00 .00 11 , 151 .00
28 14,050.00 .00 .00 14,050. 00
29 11 , 151 .00 .00 .00 11 , 151 .00
30 11 , 151 .00 .00 .00 11 , 151 .00
31 11 ,040.00 .00 .00 11 ,040.00
32 10,705 .-00 .00 . 00 10,705. 00
33 10,371 .00 .00 .00 10,371 .00
34 58, 189.00 .00 .00 58, 189. 00
35 16,982.00 . 00 .00 16,982. 00
36 16,982.00 .00 .00 16,982.00
37 16,982.00 .00 .00 16,982. 00
38 102,929.00 .00 .00 102,929.00
39 32, 115 .00 .00 .00 32, 115 .00
40 5,687.00 .00 .00 5,687 . 00
PAID AND UNPAID LIST: PAGE 2
East Bates Avenue Assessment District No. 1984-2
Contra Costa County, California
-------------------------------------------------------------------------------
ASSESSMENT NUMBER AMOUNT PAID CREDITED UNPAID
-----------------------------------------------------------------------------
41 $59,320.00 $ .00 $ .00 $59,320.00
42 39,337.00 .00 .00 39,337.00
43 10, 594. 00 .00 .00 10, 594.00
44 12,378.00 .00 . 00 12,378.00
45 88,874.00 .00 .00 88,874.00
46 8, 140.00 .00 .00 8, 140.00
47 7,025 .00 .00 .00 7,025 .00
48 7,025 .00 .00 .00 7,025 .00
49 7,025.00 .00 .00 7,025 .00
50 7,025 .00 .00 .00 7,025.00
51 6,914.00 .00 .00 6,914. 00
52 11 , 597. 00 .00 .00 11 , 597.00
53 8,363.00 .00 .00 8,363 .00
54 6,245 .00 .00 .00 6,245.00
55 5,353.00 .00 .00 5,353 .00
56 7,917. 00 .00 .00 7,917.00
57 8,698.00 .00 .00 8,698.00
58 6,914.00 .00 .00 6,914.00
59 6,914.00 .00 .00 6,914.00
60 6,914. 00 .00 .00 6,914.00
61 6,914.00 .00 .00 6,914.00
62 7,917.00 .00 .00 7,917.00
63 8,698.00 .00 .00 8,698.00
64 6,914.00 .00 .00 6,914.00
65 7,471 .00 .00 .00 7,471 .00
66 6,914.00 .00 .00 6,914.00
67 6,914.00 .00 .00 6,914.00
68 8, 140.00 .00 .00 8, 140.00
69 6, 579. 00 .00 .00 6, 579.00
70 8,809. 00 .00 .00 8,809.00
71 8,809.00 .00 .00 8,809.00
72 6, 579.00 . 00 .00 6, 579. 00
73 8, 140.00 .00 .00 8, 140.00
74 7,806.00 .00 .00 7,806.00
75 7, 583.00 .00 .00 7, 583.00
76 9,255 .00 .00 .00 9,255 .00
77 16,417.00 .00 . 00 16,417.00
78 19,626.00 .00 .00 19,626.00
79 11 , 040. 00 .00 .00 11 , 040. 00
80 10, 594. 00 .00 .00 10, 594. 00
u
PAID AND UNPAID LIST: PAGE 3
East Bates Avenue Assessment Dist,riot No. 1984-2
Contra Costa County, California
-------------------------------------------------------------------------------
ASSESSMENT NUMBER AMOUNT PAID CREDITED UNPAID
-------------------------------------------------------------------------------
81 $7,248.00 $ .00 $ .00 $7,248. 00
82 7, 583 .00 .00 .00 7,583.00
83 11 ,987.00 .00 .00 11 ,987.00
84 10,270.00 .00 .00 10,270. 00
85 55 ,012.00 .00 .00 55 ,012.00
86 135, 560. 00 . 00 .00 135, 560. 00
87 30,415 .00 .00 .00 30,415 .00
88 70,860.00 .00 .00 70,860.00
89 13,827. 00 .00 .00 13, 827.00
90 39,475.00 .00 .00 39,475 .00
91 27,766.00 .00 .00 27,766.00
92 27,655 .00 .00 .00 27,655 . 00
93 30,089.00 .00 .00 30,089.00
94 47,491 .00 .00 . 00 47,491 .00
95 7,471 .00 .00 .00 7,471 .00
96 9,478. 00 .00 .00 9,478.00
97 10,928. 00 . 00 . 00 10,928. 00
98 41 ,766.00 .00 .00 41 ,766. 00
99 57,857.00 .00 .00 57, 857. 00
100 24,613 .00 .00 .00 24,613. 00
101 51 ,359.00 .00 .00 51 ,359. 00
102 33, 143.00 .00 .00 33, 143 . 00
103 44, 198. 00 .00 .00 44, 198.00
104 4,965 .00 .00 .00 4,965 .00
105 . 4,719. 00 .00 .00 4,719.00
106 4,364. 00 .00 .00 4, 364. 00
107 4,937.00 .00 .00 4,937.00
108 7,283.00 .00 .00 7,283.00
109 6,710. 00 .00 .00 6,710.00
110 5,728.00 .00 .00 5,728.00
ill 5,346.00 .00 .00 5,346. 00
112 6,356.00 .00 .00 6,356. 00
113 4,828.00 .00 .00 4,828.00
114 4,474.00 . 00 .00 4,474.00
115 4, 174.00 .00 .00 4, 174.00
116 4,965. 00 .00 .00 4,965 . 00
117 5,374. 00 .00 .00 5, 374. 00
118 5,647. 00 .00 .00 5,647 . 00
119 5,483 .00 .00 .00 5 ,483. 00
120 4,774.00 .00 .00 4,774. 00
PAID AND UNPAID LIST: PAGE 4
East Bates Avenue Assessment District No. 1984-2
Contra Costa County, California
-------------------------------------------------------------------------------
ASSESSMENT NUMBER AMOUNT PAID CREDITED UNPAID
-------------------------------------------------------------------------------
121 $4,774.00 $ .00 $ .00 $4,774.00
122 5,019.00 .00 .00 5,019.00
123 3,437.00 .00 .00 3,437.00
124 8,483 .00 .00 .00 8,483.00
125 .00 .00 .00 .00
126 87,871 . 00 .00 .00 .87, 871 .00
127 71 ,702.00 .00 .00 71 ,702.00
$3,252, 045. 00 $30, 125.92 $34,234. 00 $3,217, 811 .00
/- /036
RESOLUTION NO. 86/314
RESOLUTION ESTABLISHING LITIGATION TRUST FUND
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
The Board of Supervisors of the County of Contra Costa
resolves:
A civil action has been filed in the Superior Court of the
State of California in and for the County of Contra Costa by Dennis
E. Baca, a property owner in East Bates Avenue Assessment Dis,trict
No. 1984-2. In this action Mr . Baca seeks a declaration that the
assessment imposed as Assessment No. 101 in the amount of $51, 359
and Assessment No. 103 in the amount of $44 ,198 are improper and
contrary to law;_ and seeks an injunction against the collection of
these two assessments.
The Board of Supervisors hereby authorizes and directs the
County Treasurer to transfer from Account No. 819200-0260 of the
County of Contra Costa the amount of $95,557 . 00 into a special trust
fund to be designated "Litigation Trust Fund, East Bates Avenue
Assessment District No. 1984-2. " Said fund may be invested as in the
case of other available funds of the county and investment income
shall be accumulated in the fund, but no other disposition- shall be
made of the principal amount of said fund unless or until the
Superior Court has dismissed said action or has entered an Order
denying the relief requested by Mr. Baca and the time for appeal has
expired.
RESOLUTION NO. 86/314
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the Board of Supervisors. of the County of
Contra Costa, State of California, at a regular meeting thereof,
held on the 3rd day of June, 1986.
ATTEST: June 3, 1986
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By C
cc: Bond Counsel
Engineer of Work
Auditor
Public Works Director
County Counsel
2
RESOLUTION NO. 86/314
/O3c
RESOLUTION NO. 86/315
RESOLUTION AUTHORIZING ISSUANCE OF BONDS
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
The Board of Supervisors of the County of Contra Costa
resolves:
Section 1. RECITALS . On January 7 , 1986 , the Board
of Supervisors of the County of Contra Costa adopted its
resolution of intention to order improvements in East Bates
Avenue Assessment District No. 1984-2 under the provisions of
the Municipal Improvement Act of 1913 (the "Act" ) . Proceedings
taken under the Act led to the levy of a special assessment by
the Board of Supervisors against parcels of land within the
assessment district in the total amount of $3,252,045. These
assessments were recorded in the office of the County Recorder
of the County of Contra Costa on April 28 , 1986 , under
Recorder ' s Serial No. 86 62699 and thereupon became a lien on
each parcel assessed. The period within which parcel owners
might pay their assessments in cash without interest has now
expired, and there remain unpaid assessments in the total amount
of $3,217 ,811.00 .
Section 2. ISSUANCE OF BONDS. The Board of
Supervisors hereby authorizes the issuance of improvement bonds
under the provisions of the Improvement Bond Act of 1915 to
represent unpaid assessments. The bonds shall be designated,
"Improvement Bonds, East Bates Avenue Assessment District
No. 1984-2, Contra Costa County, California, Series No. 1984-2. "
Bonds shall be issued in denominations of $5000 or integral
multiples thereof, except for Bond No. 1 which may be an odd
amount, and shall be dated June 16, 1986. Bonds shall mature
and shall bear interest at the rates set forth in the table
attached as Exhibit A.
Section 3. APPOINTMENT OF PAYING AGENT, REGISTRAR AND
TRANSFER AGENT. The Board of Supervisors hereby appoints Bank
RESOLUTION NO. 86/315
of America National Trust and Savings Association as paying
agent, registrar and transfer agent for the bonds in accordance
with an agreement between the County and Bank heretofore
approved by the Board of Supervisors .
Section 4. FORM AND EXECUTION. Bonds shall be issued
as fully registered bonds substantially in the form set forth as
Exhibit B to this resolution. The bonds shall be signed by the
County Treasurer and the County Clerk and the seal of the County
shall be affixed. Both signatures and seal may be reproduced on
the bonds by facsimile, but upon its registration or
reregistration each bond shall be authenticated by the manual
signature of the registrar .
The paying agent shall assign to each bond
authenticated and registered by it a distinctive letter , or
number , or letter and number , and shall maintain a record
thereof which shall be available to the County for inspection.
Section 5. ESTABLISHMENT OF SPECIAL FUNDS . For
administering the proceeds of the sale of bonds and payment of
interest and principal on the bonds , there are hereby
established three funds to be known as the improvement fund, the
redemption fund and the special reserve fund, respectively, for
East Bates Avenue Assessment District No. 1984-2.
Section 5.1. IMPROVEMENT FUND. Except as provided in
Section 5. 3, proceeds of sale of the bonds, together with all
amounts paid on the assessments prior to bond issuance, shall be
deposited in the improvement fund to be maintained by the County
Treasurer . Disbursements from the improvement fund shall be
made by the County Treasurer in accordance with the budget of
estimated costs and expenses set forth in the engineer ' s report
heretofore approved by the Board of Supervisors, which report
and budget are subject to modification by the Board from time to
time as presdribed by the Act.
2
Section 5. 2. REDEMPTION FUND. The redemption fund
shall be maintained by the County Treasurer . All payments of
principal and interest installments on the assessments, together
with penalties, if any, shall be deposited in the redemption
fund, which shall be a trust fund for the benefit of the
bondholders. Payment of the bonds at maturity, or at redemption
prior to maturity, and all interest on the bonds shall be made
from the redemption fund.
Section 5.3. SPECIAL RESERVE FUND. The special
reserve fund shall be maintained by the County Treasurer . There
shall be deposited into the special reserve fund the amount of
$160,891.00 from the proceeds of the sale of bonds. The special
reserve fund shall be administered as follows:
A. During the term of the bonds, the amount in
the special reserve fund shall be available for transfer into
, the redemption fund in accordance with Section 8808 of the
Streets and Highways Code. The amount so advanced shall be
reimbursed to the special reserve fund from the proceeds of
redemption or sale of the parcel for which payment of delinquent
assessment installments was made from the special reserve fund.
B. If any assessment is prepaid before final
maturity of the bonds, the amount of principal which the
assessee is required to prepay shall be reduced by an amount
which is in the same ratio to the original amount of the special
reserve fund, together with accrued interest, as the original
amount of the prepaid assessment bears to the total amount of
assessments originally levied in East Bates Avenue Assessment
District No. 1984-2. This reduction in the amount of principal
prepaid shall be balanced by a transfer from the special reserve
fund to the redemption fund in the same amount.
C. Whenever required to prevent the reserve fund
from exceeding the reserve limitations set by federal statute
and regulation, the County Treasurer is directed to transfer
3
. 1 f
accrued interest from the special reserve fund to the redemption
fund from time to time, and to establish pro rata credits
against annual installments of assessment principal and interest
in the same amount in the year following the year of transfer .
D. When the amount in the special reserve fund
equals or exceeds the amount required to retire the remaining
unmatured bonds (whether by advance retirement or otherwise) ,
the amount of the special reserve fund shall be transferred to
the redemption fund, and the remaining installments of principal
and interest not yet due from assessed property owners shall be
cancelled without payment.
Section 6. PAYMENT ON BONDS . The principal and
interest on the bonds shall be payable at Bank of America
National Trust and Savings Association, Corporate Agency
Division, P.O. Box 37000 , San Francisco, CA 94137 . Principal
and interest shall be paid by check, draft or warrant mailed to
the registered owner of each bond at the owner ' s address
appearing on the register maintained by the registrar on the
15th day preceding the date of interest payment or maturity of
each bond.
Section 7 . REREGISTRATION . Any bond may be
registered to a new owner by completing the assignment
certificate on the reverse of the bond and delivering the bond
to the registrar . Upon reregistration, any bond may be replaced
by one or more bonds of the same maturity and aggregate amount
in denominations of $5000 or any integral multiple thereof.
Section S. COVENANTS . In the event of a default in
the payment of any bond or any installment of interest .thereon,
bondholders shall have the remedies set forth in the Improvement
Bond Act of 1915. In addition, the Board of Supervisors makes
the following covenants, which shall constitute a contract with
the bondholders:
-4
Section 8.1. FORECLOSURE OF LIENS. If any
installment of the .principal or interest of any assessment
levied in East Bates Avenue Assessment District No. 1984-2
becomes delinquent, the Board of Supervisors shall cause an
action to be filed in the Superior Court of the County of Contra
Costa to foreclose the lien of the delinquent assessment under
the authority of Section 8830 and following of the Streets and
Highways Code of the State of California. This action shall be
filed not later than one hundred fifty (150) days after the date
of delinquency.
Section 8. 2. ARBITRAGE. During the term of the
bonds, the County will make no use of bond proceeds which, if
such use had been reasonably expected at the date the bonds are
issued, would have caused the bonds to be "arbitrage bonds"
within the meaning of Section 103 (c) of the United States
Internal Revenue Code of. 1954 , as amended, and regulations of
the Internal Revenue Service authorized thereby. -
* �
I HEREBY CERTIFY that the foregoing resolution was
duly and regularly adopted by the Board of Supervisors of the
County of Contra Costa, State of California, at a regular
meeting thereof , held on the 3rd day of June, 1986.
ATTEST: June 3, 1986
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By
cc: Bond Counsel
Engineer of Work
Auditor
Public Works Director
County Counsel
RESOLUTION NO. 86/315
MATURITY SCHEDULE
East Bates Avenue Assessment District No. 1984-2
SEPT 2
MATURITY PRINCIPAL INTEREST
DATE AMOUNT RATE
1987 $47,811 .00 5. 50%
1988 85,000.00 6.00
1989 90,000.00 6.25
1990 95,000.00 6. 50
1991 100,000. 00 6.75
1992 105 ,000.00 7.00
1993 115,000.00 7. 20
1994 120,000.00 7.40
1995 130,000.00 7.50
1996 140,000.00 7.60
1997 150,000.00 7.70
1998 165,000. 00 7.80
1999 175,000. 00 7.90
2000 190, 000. 00 8.00
2001 205,000.00 8.00
2002 220,000. 00 8. 00
2003 240,000. 00 8.00
2004 260,000.00 8.00
2005 280,000.00 8.00
2006 305,000.00 8.00
O A C C max C C�a�a m
TOTAL: $3,217,811 .00
L nl1�00 G�
United States of America
State of California
County of Contra Costa
REGISTERED REGISTERED
Number $
IMPROVEMENT BOND
COUNTY OF CONTRA COSTA
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
SERIES NO. 1984-2
INTEREST RATE MATURITY DATE BOND DATE CUSIP NUMBER
June 16 , 1986
Under and by virtue of the Improvement Bond Act of 1915,
Division 10, of the Streets and Highways Code, (the "Act" ) , the
County of Contra Costa, State of California, (the "County" ) , will,
out of the redemption fund for the payment of the bonds issued upon
the unpaid portion of assessments made for the acquisition, work and
improvements more fully described in proceedings taken pursuant to
Resolution of Intention No. 86/6, adopted by the Board of
Supervisors of the County of Contra Costa on the 7th day of January,
1986 , pay to
or registered assigns, on the maturity date stated above, the
principal sum of , in lawful money of the
United States of America and in like manner will pay interest from
the interest payment date next preceding the date on which this Bond
is authenticated, unless this Bond is authenticated and registered
as of an interest payment date, in which event it shall bear
interest from such interest payment date, or unless this Bond is
authenticated and registered prior to March 2, 1987, in which event
it shall bear interest from its date, until payment of such
principal sum shall have been discharged, at the rate per annum
stated above, payable semiannually on March 2 and September 2 in
each year commencing on March 2, 1987 . Both the principal hereof
and redemption premium hereon are payable at the principal corporate
trust office of Bank of America National Trust and Savings
Association-Corporate Agency Division, or its successor , as Transfer
Agent, Registrar and Paying Agent, in San Francisco, California, and
the interest hereon is payable by check or draft mailed to the owner
hereof at the owner ' s address as it appears on the registration
books of the Bank, or at such address as may have been filed with
the Bank for that purpose , as of the fifteenth day immediately
preceding each interest payment date.
REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND
SET FORTH IN THE REVERSE SIDE HEREOF WHICH SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH HEREIN.
This bond will continue to bear interest after maturity at
the rate above stated, provided, it is presented at maturity and
payment thereof is refused upon the sole ground that there are not
sufficient moneys in said redemption fund with which to pay same.
If it is not presented at maturity, interest thereon will run until
maturity.
This Bond shall not be entitled to any benefit under the
Act or the Resolution Authorizing Issuance of Bonds (the "Resolution
of Issuance" ) , or become valid or obligatory for any purpose,. until
the certificate of authentication and registration hereon endorsed
shall have beers dated and signed by the Bank.
IN WITNESS WHEREOF , said County of Contra Costa has caused
this bond to be signed in facsimile by the Treasurer of said County
and by its Clerk, and has caused its corporate seal to be reproduced
EXHIBIT B
in facsimile hereon all as of the 16th day of June, 1986.
COUNTY OF CONTRA COSTA
Clerk Treasurer
(SEAL)
Certificate of Authentication and Registration
This is one of the Bonds described in the within
mentioned Resolution of Issuance, which has been
authenticated and registered on
BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION
as paying agent, transfer agent and registrar
By
Authorized Officer
(REVERSE OF BOND)
COUNTY OF CONTRA COSTA
EAST BATES- AVENUE ASSESSMENT DISTRICT NO. 1984-2
ADDITIONAL PROVISIONS OF THE BOND
This bond is one of several annual series of bonds of
like date, tenor and effect, but differing in amounts, maturities
and interest rates, issued by the County of Contra Costa under the
Act and the Resolution of Issuance , for the purpose of providing
means for paying for the improvements described in said
proceedings, and is secured by the moneys in said redemption fund
and by the unpaid portion of said assessments made for the payment
of said improvements, and, including principal and interest, is
payable exclusively out of said fund.
This Bond is transferable by the registered owner
hereof , in person or by the owner ' s attorney duly authorized in
writing, at said office of the Bank, subject to the terms and
conditions provided in the Resolution of Issuance, including the
payment of certain charges, if any, upon surrender and
cancellation of this Bond. Upon such transfer , a new registered
Bond or Bonds, of any authorized denomination or denominations, of
the same maturity, for the same aggregate principal amount, will
be issued to the transferee in exchange therefor .
Bonds shall be registered only in the name of an
individual (including joint owners) , a corporation, a partnership
or a trust.
Neither the County nor the Bank shall be required to
make such exchange or registration of transfer of bonds during the
fifteen (15) days immediately preceding any interest payment date.
The County and the Bank may treat the owner hereof as
the absolute owner for all purposes, and the County and the Bank
shall not be affected by any notice to the contrary.
This bond or any portion of it in the amount of $5,000
or any integral multiple thereof, may be redeemed and paid in
advance of maturity upon the second day of March or September in
any year by giving at least 60 days' notice by registered mail to
the registered owner hereof at such owner ' s address as it appears
on the registration books of the Bank and by paying principal and
accrued interest together with a premium equal to three percentum
of the principal.
I hereby certify that the following is a correct copy of
the signed legal opinion of STURGIS, NESS , BRUNSELL & SPERRY a
professional corporation, Emeryville, California, on file in my
office.
County Clerk
RESOLUTION NO. 86/316
RESOLUTION ORDERING SALE OF BONDS
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
The Board of Supervisors of the County of Contra Costa
resolves:
The Board of Supervisors accepts the offer of Stone &
Youngberg (attached to this resolution and by reference incorporated
in it) , to purchase all of the improvement bonds to be issued in
East Bates Avenue Assessment District No. 1984-2, Contra Costa
County, California.
The Board of Supervisors directs the sale and delivery of
the bonds to the offeror in accordance with the terms and conditions
stated in the offer .
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the Board of Supervisors of the County of
Contra Costa, State of California, at a regular meeting thereof,
held on the 3rd day of June, 1986 .
ATTEST: June 3, 1986
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By ��aL
cc: Bond Counsel
Engineer of Work
Auditor
Public Works Director
County Counsel
v r f•. ,
STONE & YOUNGBERG
MEMBERS: PACIFIC STOCK EXCHANGE
June 2, 1986
Members of the Board of Supervisors
of the County of Contra Costa
651 Pine Street
Room 106
Martinez, CA 94553
Re: Offer to Purchase Bonds in the Sum of $3,217,811 par value
County of Contra Costa Improvement Bonds
East Bates Avenue Assessment District No. 1984-2
Members of the Board: -
Pursuant to discussions with bond counsel and our investigation and
analysis of the captioned Bond issue, we hereby offer to purchase all of said
Bonds subject to the following conditions:
1 . The par value of the Bonds shall be $3,217,811 , and the Bonds shall
mature serially over a period of 20 years as shown in the attached
schedule.
2. The Bonds shall be issued pursuant to the Municipal Improvement Act
of 1913 and the Improvement Bond Act of 1915.
3. The Bonds shall be issued in denominations of $5,000 or in integral
multiples thereof as may be requested by us. One bond which shall
mature September 2, 1987 shall be issued in an odd amount.
4. All Bonds shall be issued in registered form as indicated by us prior
to closing. The County shall retain the Bank of America N.T. & S.A.
as Transfer Agent, Registrar and Paying Agent.
5. The Bonds shall be dated June 16, 1986 and delivered on or about
their date.
6. The Bonds shall mature in each of the years and in the amounts and at
the rates of interest set forth on the attached maturity schedule.
7. The purchase price shall be 97.2% of par (a discount of 2'.8%) plus
accrued interest (if any) from the date of the Bonds to the date of
their delivery.
8. The County shall establish from the proceeds of the Bonds a reserve
fund in the amount of five percent (5%) of the aggregate principal
amount• of the Bonds. The reserve fund shall be held and maintained
as a separate trust account distinct from all other funds of the
County and ahall be administered in accordance with bond law.
ONE CALIFORNIA STREET•SAN FRANCISCO.CALIFORNIA 94111 •(415)981-1314
Board of Supervisors of the June 2, 1986
County of Contra Costa Page 2
9. The County shall covenant to commence judicial foreclosure of
delinquent assessments within 150 days after any delinquency.
10. The County shall award the sale of the Bonds to us at their meeting
on June 3, 1986.
11 . The purchase price of the Bonds shall be paid in full upon delivery
to us of the Bonds, the unqualified legal opinion of Sturgis, Ness, ,
. Brunsell & Sperry, Emeryville, California. The legal opinion shall
be printed on the bonds at no charge to us.
12. The obligations of the Underwriters to accept delivery of and pay for
the Bonds on the Closing Date shall be subject, at the option of the
Underwriters to the following additional conditions:
(a) At the Closing Date, the Resolution and any other applicable
agreements shall be in full force and effect, and shall not have
been amended, modified or supplemented except as may have been
agreed in writing by the Underwriters, and there shall have been
taken in connection therewith, with the issuance of the bonds
and with the transactions contemplated thereby and by this
Purchase Contract, all such actions as, in the opinion of
Sturgis, Ness, Brunsell & Sperry, Emeryville, California, Bond
Counsel for the -County, shall be necessary and appropriate;
(b) Between the date hereof and the Closing Date, the market price
or marketability of the Bonds at the initial offering prices set
forth in the Offering Memorandum shall not have been materially
adversely affected, in the judgment of the Underwriters
(evidenced by a written notice to the County terminating the
obligation of the Underwriters to accept delivery of and pay for
the Bonds) by reason of any of the following:
(1 ) Legislation enacted (or resolution passed) by the Congress
of the United States of America or a decision rendered by a
court established under Article III of the constitution of
the United States of America or by the Tax Court of the
United States of America, or an order, ruling, regulation
(final , temporary or proposed) , press release or other form
of notice issued or made by or on behalf of the Treasury
Department or the Internal Revenue Service of the United
States of America, with the purpose or effect, directly or
indirectly, of imposing federal income taxation upon the
interest as would be received by the owners of the Bonds;
Board of Supervisors of the June 2, 1986
County of Contra Costa Page 3 .
(2) Legislation enacted (or resolution passed) by the Congress
of the United States of America, or an order, decree or
injunction issued by any court of competent jurisdiction or
an order, ruling, regulation (final , temporary or
proposed), press release or other form of notice issued or
made by or on behalf of the Securities and Exchange
Commission or any other governmental agency having
jurisdiction of the subject matter, to the effect that
obligations of the general character of the Bonds, or the
Bonds, including any or all underlying arrangements, are
not exempt from registration under or other requirements of
the Securities Act of 1933, as amended, or that the
Resolution is not exempt from qualification under or other
requirements of the Trust Indenture Act of 1939, as
amended, or that the issuance, offering or sale of the
obligations of the general character of the Bonds, or of
the Bonds, including any or all underwriting arrangements,
as contemplated hereby or by the Offering Memorandum or
otherwise is or would be in violation of the federal
securities laws as amended and then in effect;
(3) The withdrawal or downgrading of any rating of any
securities of the County by a national municipal bond
rating agency;
(4) Any amendment to the Federal or California constitution or
action by any Federal or California court, legislative
body, regulatory body or other authority materially
adversely affecting the tax status of the County, its
property, income, securities (or interest thereon),
validity or enforceability of the assessments or the
ability of the County to construct or acquire the
improvements as contemplated by the Resolution and the
Offering Memorandum; or
(5) Any event occurring, or information becoming known which,
in the judgment of the Underwriters makes untrue or
misleading on any material respect any statement or
information contained in the Offering Memorandum concerning
the County, the Improvement Project, or the property
assessed.
f� �
Board of Supervisors of the June 2, 1986
County of Contra Costa Page 4
13. This bid is conditioned upon the successful consummation of the
assessment district proceedings and should said proceedings for any
reason fail to be successfully consummated, there shall be no
obligation on the part of the County.
Respectfully submitted,
STONE & YOU G
Scott i ton
Partner
SC:bp/1073P
cc: ,Sturgis, Ness, Brunsell & Sperry
y�
$3,217,811
COUNTY OF CONTRA COSTA
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
MATURITY SCHEDULE
Due Interest
September 2 Principal Rate
9/2/87 $ 47,811 5.50%
9/2/88 85,000 6.00%
9/2/89 90,000 6.250%
9/2/90 95,000 6.50%
9/2/91 100,000 6.75%
9/2/92 105,000 7.00%
9/2/93 115,000 7.20%
9/2/94 120,000 7.40%
9/2/95 130,000 7.50%
9/2/96 140,000 7.60%
9/2/97 150,000 7.70%
9/2/98 165,000 7.80%
9/2/99 175,000 7.90%
9/2/00 190,000 8.00%
9/2/01 205,000 8.00%
9/2/02 220,000 8.00%
9/2/03 240,000 8.00%
9/2/04 260,000 8.00%
9/2/05 2809000 8.00%
9/2/06 305,000 8.00%
The average interest rate is 7.847%. The net interest cost inclusive of the
discount of 2.8% is 8.059%
A
RESOLUTION NO. 86/317
RESOLUTION AWARDING CONTRACT
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
The Board of Supervisors of the County of Contra Costa
resolves:
The County of Contra Costa has received public bids for
the construction of improvements in East Bates Avenue Assessment
District No. 1984-2, Contra Costa County, California.
The Engineer of Work has reviewed the bids and now
recommends award of the construction contract to the lowest
responsible bidder , Gallagher & Burk, whose bid price is
$1,823 ,696 .95 .
The Board of Supervisors therefore awards the contract to
that bidder . All other bids are rejected.
The Board of Supervisors directs the Clerk of the Board to
publish a notice of award of contract.
The Board of Supervisors authorizes and directs the
Chairman of the Board and the Clerk of the Board to sign the written
contract for this construction when it is presented to them for
signature, along with the surety bonds and insurance certificates
required by the construction specifications.
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the Board of Supervisors of the County of
Contra Costa, State of -California, at a regular meeting thereof,
held on the 3rd day of June, 1986 .
ATTEST: June 3, 1986
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
. By
cc: Bond Counsel
Engineer of Work
Auditor
PublicWorks erector RESOLUTION NO. 86/317
County CounseQ
r
RESOLUTION NO. 86/318
RESOLUTION APPROVING LEGAL SERVICES AGREEMENT FOR LITIGATION
EAST BATES AVENUE ASSESSMENT DISTRICT NO. 1984-2
The Board of Supervisors of the County of Contra Costa
resolves:
This Board of Supervisors approves that certain agreement
between the County of Contra Costa and STURGIS , NESS, BRUNSELL &
SPERRY a professional corporation, for services of that firm as
special counsel for litigation in connection with East Bates Avenue
Assessment District No. 1984-2, dated June 3 , 1986, on file with the
Clerk of the Board.
The Chairman of the Board is authorized to sign the
agreement and the Clerk is authorized to attest its execution.
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the Board of Supervisors of the County of
Contra Costa, State of California, at a regular meeting thereof,
held on the 3rd day of June, 1986 .
ATTEST: June 3, 1986
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By
cc: Bond Counsel
Engineer of Work
Auditor
Public Works Director
County Counsel