HomeMy WebLinkAboutRESOLUTIONS - 05191987 - 87-298 w
RESOLUTION NO. 87/298
RESOLUTION OF THE BOARD OF SUPERVISORS
OF THE COUNTY OF CONTRA COSTA DETERMINING
TO PROCEED WITH THE ISSUANCE AND SALE
OF 1987-1988 TAX AND REVENUE ANTICIPATION
NOTES AND AUTHORIZING COUNTY OFFICIALS
TO TAKE ALL NECESSARY STEPS TO IMPLEMENT
SUCH ISSUANCE.
WHEREAS, pursuant to Section 53850 et seq. of the Government
Code of the State of California, the County of Contra Costa (the "County")
may borrow money by the issuance of temporary notes in anticipation
of the receipt of taxes, income, revenue, cash receipts and other moneys
to be received by ;the County for the General Fund of the County during
or attributable to Fiscal Year 1987-1988; and
WHEREAS, it is necessary and desirable for the appropriate
County Officials to be authorized to take such actions as may be necessary
to accomplish such; borrowing;
NOW, THEREFORE, the Board of Supervisors of the County
of Contra Costa hereby resolve as follows:
Section 1. This Board of Supervisors hereby determines
to issue not to exceed seventy million dollars ($70,000,000) of County
of Contra Costa 1987-1988 tax and revenue anticipation notes, upon
.such terms and conditions as shall be subsequently approved by resolution
of this Board of Supervisors.
Section 2. The County Administrative Officer, County Treasurer
and County Auditor be and they are hereby authorized and directed
to take all necessary actions to implement such borrowing, including
arranging for the prepartion of the resolution of issuance of said notes
and other necessary legal documents, the preparation of an official statement
describing said notes, the obtaining of ratings from bond rating agencies
on said notes and related actions.
PASSED AND ADOPTED by the Board of Supervisors of the
County of Contra Costa this 19thday of May, 1987, by the following
vote:
AYES: Supervisors Powers, Fanden, Torlakson, Schroder
NOES: None
ABSENT: Supervisor McPeak
Robert I . Schroder , Chair
Board of Supervisors
(Seal)
ATTEST: Phil E. 'Batchelor
Clerk of the Board of Supervisors
and County Administrator
By
Deput Cl rk
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