HomeMy WebLinkAboutRESOLUTIONS - 03071989 - 89-152 i
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RESOLUTION NO. $9�jS OZ.
RESOLUTION OF INTENTION TO CONDUCT REASSESSMENT PROCEEDINGS - I
ASSESSMENT DISTRICT 1989-1, SAN RAMON VALLEY BOULEVARD REFUNDING
(REFUND A.D. 1981-1)
. The Board of Supervisors of the County of Contra Costa
resolves:
This Board of Supervisors hereby determines that the public
interest or necessity requires the refunding of all outstanding
bonds previously issued as Series No. 1981-1, dated November 2,
1983 , Assessment District No. 1981-1, San Ramon Valley Boulevard,
County of Contra Costa, State of California. This Board of
Supervisors 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 of Supervisors hereby directs MAJORS
ENGINEERING, INC. , to prepare and file with the Clerk of the Board
of Supervisors of the County of Contra Costa, a written report
containing each of the items specified by Section 9523 of the Act.
The reassessment shall include an allowance for the
establishment of a special reserve fund as provided by Section 9620
of the Streets and Highways Code.
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 September 2 , 2004 .
The County will not obligate itself to advance available
funds from the County Treasury to cure any deficiency which may
RESCiI-11TION NO. Fy`/5-z
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f,
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..
The procedure for the collection of reassessments and
advance retirement of bonds under the Act shall be as provided in
Part 11. 1, Division 10, of the Streets and Highways Code of the
State of California.
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 7th day of March, 1989.
ATTEST:
PHIL BATCHELOR, Clerk of the
Board of Supervisors and
County Administrator
By: