HomeMy WebLinkAboutMINUTES - 06271995 - C89 CA
RESOLUTION NO. 95/291
OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF CONTRA COSTA
CALIFORNIA
RESOLUTION RATIFYING AND APPROVING ISSUANCE AND SALE OF 1995-1996
TAX AND REVENUE ANTICIPATION NOTES OF THE COUNTY; RATIFYING AND
APPROVING FORM AND EXECUTION OF AN INDENTURE; APPROVING FORMS OF
AND RATIFYING AND APPROVING A PURCHASE CONTRACT AND OFFICIAL
STATEMENT FOR THE SALE OF SAID NOTES; AND AUTHORIZING TAKING OF
NECESSARY ACTIONS AND EXECUTION OF NECESSARY CERTIFICATES
WHEREAS, the County of Contra Costa (the "County") is a
political subdivision of the State of California;
WHEREAS, under Resolution No. 95/215 passed and adopted
on April 4 , 1995, this Board of Supervisors approved the issuance
and sale of temporary notes of the County for fiscal year 1995-
1996 (the "Notes") , and approved the forms of an Official
Statement describing the Notes and an Indenture relating to the
Notes, dated as of July 1, 1995 (the "Indenture") , by and between
the County and U. S. Trust Company of California, N.A. , as paying
agent (the "Paying Agent") ;
WHEREAS; pursuant to a Contract of Purchase for the
Notes (the "Purchase Contract") , dated June 7, 1995, by and
between Bear, Stearns & Co. Inc. , as purchaser (the "Purchaser")
and the County, the Notes were sold to the Purchaser in the
aggregate principal amount of Ninety Million Dollars
($90, 000, 000) under the terms and conditions set forth in the
Purchase Contract and in the Indenture;,
WHEREAS, this Board has been presented with the form of
each document hereinafter referred to, relating to the Notes, and
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the Board has examined and approved each document and desires to
ratify the execution of such documents and the consumation of
such financing; 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 hereinafter authorized;
and
NOW, THEREFORE, the Board of Supervisors of the County
of Contra Costa hereby finds, determines, declares and resolves
as follows:
Section 1. Recitals. All of the recitals herein above
set forth are true and correct, and this Board so finds and
determines.
Section 2 . Indenture. The form of the Indenture,
dated as of July 1, 1995, by and between the County and the
Paying Agent (a copy of which is on file with the Clerk of the
Board of Supervisors) , is hereby ratified and reapproved. The
County Administrator of the County and the Clerk of the Board of
Supervisors, and their designees, are hereby authorized and
directed to execute and deliver the Indenture in substantially
said form, with such changes, additions, completions and
corrections therein as such officers may require or approve, such
approval to be conclusively evidenced by the execution and
delivery thereof.
Section 3 . Official Statement for Notes. The form of
Official Statement relating to the Notes, on file with the Clerk
of the Board of Supervisors, is hereby ratified and approved.
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The County Administrator, or his designee, is hereby authorized
and directed, at the time of the delivery of the Notes, for and
in the name and on behalf of the County, to execute and deliver a
final Official Statement in substantially the form of the
Official Statement prepared by Prager, McCarthy & Sealy (the
"Financial Advisor") , with such additions thereto or changes
therein as the Financial Advisor, County Counsel's Office or
Orrick, Herrington & Sutcliffe, Bond Counsel, may require or
approve, such approval to be conclusively evidenced by the
execution and delivery thereof.
Section 4. Purchase Contract. The form of Purchase
Contract, by and between the Purchaser and the County, dated as
of June 7, 1995, on file with the Clerk of the Board of
Supervisors, is hereby approved. The action of the County
Treasurer in executing and delivering the Purchase Contract is
herby ratified and approved.
Section 5. Approval of Actions. All actions
heretofore taken by the officers and agents of the County or this
Board with respect to the sale and issuance of the Notes are
hereby approved, confirmed and ratified, and the officers of the
County and the Board are hereby authorized and directed, for and
in the name and on behalf of the County, to do any and all things
and take any and all actions and execute any and all
certificates, agreements and other documents which they, or any
of them, may deem necessary or advisable in order to consummate
the lawful issuance and sale of the Notes in accordance with this
Resolution.
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PASSED AND ADOPTED by the Board of Supervisors of the
County of Contra Costa, State of California, this 27th day of
June, 1995, by the following vote:
AYES: Supervisors Rogers , Smith, DeSaulnier , Torlakson, Bishop
NOES: None
ABSENT: None
�LA
Chair of the Board of Supervisors
J . j of the County of Contra Costa
(Seal) , .
Attest: Phil. Satchelor,
`',County Administrator and
Clerk_of,-the'Acard of
Supervisors cif the
County ofd Centra Costa
By:
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CLERK'S CERTIFICATE
I, JEANNE O. MAGLIO, Deputy Clerk and Chief Clerk of
the Board of Supervisors of the County of Contra Costa, hereby
certify that the foregoing is a full, true and correct copy of a
resolution duly adopted at a meeting of the Board of Supervisors
of the County of Contra Costa duly and regularly held in
Martinez, California, on June 27, 1995, of which meeting all of
the members of said Board had due notice.
I further certify that I have carefully compared the
foregoing copy with the original minutes of said meeting on file
and of record in my office; that said copy is a full, true and
correct copy of the original resolution adopted at said meeting
and entered in said minutes; and that said resolution has not
been amended, modified, rescinded or revoked in any manner since
the date of its adoption, and the same is now in full force and
effect.
I further certify that an agenda of said meeting was
posted at least 72 hours before said meeting at 651 Pine St.
Lobby, Martinez, California, freely accessible to the public and
a brief general description of the resolution to be adopted at
said meeting appeared on said agenda.
IN WITNESS WHEREOF, I have executed this certificate
and affixed the seal of the Board of Supervisors of the County of
Contra Costa hereto as of this 28th day of June, 1995.
By 71�
DLdputy Clerk of he Board of
Supervisors of the County of
Contra Costa, State of California
(SEAL]
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AFFIDAVIT OF POSTING OF AGENDA
STATE OF CALIFORNIA )
) ss.
COUNTY OF CONTRA COSTA )
Christine Wampler 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 [s]he posted on June 22 , 1995 at 651 Pine Street
Lobby, 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
June 27, 1995, a copy of which is attached hereto.
Dated: June 28 , 1995
I declare under penalty of perjury
that the foregoing is true and
cors
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