HomeMy WebLinkAboutRESOLUTIONS - 03311987 - 87-185 RESOLUTION N0. 87/185
RESOLUTION OF INTENTION TO CONDUCT REASSESSMENT PROCEEDINGS
IN ASSESSMENT DISTRICT 1987-1, PLEASANT HILL
BART STATION AREA REFUNDING
The Board of Supervisors of the County of Contra
Costa, State of California resolves:
This Board hereby determines that the public interest
and necessity requires the refunding of all outstanding bonds
previously issued as Pleasant Hill BART Station Area (Assessment
District No. 1983-1) , dated April 5, 1984 . This Board hereby
declares its intention to refund said outstanding bonds and to
levy reassessments pursuant to the Refunding Act of 1984 for
1915 Improvement Act Bonds (the "Act" ) as security for said
refunding bonds.
This Board hereby directs Richard Nystrom to prepare
and file with the County Clerk of the County of Contra Costa a
written report containing each of the items specified by Section
9523 of the Act.
Serial bonds representing unpaid reassessments, and
bearing interest at a rate not to exceed twelve percent (12%)
per annum, will be issued in the manner provided by the Act, and
the last installment of the bonds shall mature not later than
September 2, 2004.
The County will not obligate itself to advance
available funds from the County Treasurer to cure any deficiency
which may occur in the bond redemption fund. A determination
not to obligate itself shall not prevent the County from, in its
sole discretion, so advancing funds.
Until September 2, 1991, the procedure for the
collection of reassessment and advance retirement of bonds under
the Act shall be as provided in parts 8-11, Division 10 of the
RESOLUTION NO. 87/185
Streets and Highways Code of the State of California.
Thereafter those proceedings will be taken under part 11.1 of
said Division 10.
The amount of any surplus remaining after completion
of the refunding shall be transferred to the reserve fund for
the refunding bonds.
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 31st day of March, 1987.
ATTEST: March 31 , 1987
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By
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RESOLUTION NO. 87/185