HomeMy WebLinkAboutRESOLUTIONS - 05211991 - 91-312 RESOLUTION NO 91/312
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF
CONTRA COSTA,' CALIFORNIA, RATIFYING AND CONFIRMING THE
ISSUANCE AND SALE AND PROVIDING FOR THE AWARD OF ACALANES
UNION HIGH SCHOOL DISTRICT, COUNTY OF CONTRA COSTA,
CALIFORNIA, 1991 GENERAL OBLIGATION BONDS, SERIES C IN A
PRINCIPAL AMOUNT OF $9., 000, 000 FOR THE PURPOSE OF FINANCING
REAL PROPERTY IMPROVEMENTS.
WHEREAS, a duly called election was held in the Acalanes
Union High School District, County of Contra Costa, State of
California (hereinafter referred to as the "District") , on
November 8, 1988 and thereafter canvassed pursuant to law;
WHEREAS, at such election there was submitted to and
approved by the requisite two-thirds of the voters of the
District a question as to the issuance and sale of general
obligation bonds of the District for various purposes set forth
in the ballot submitted to the voters, in the maximum amount of
$34 , 000, 000 payable from the levy of an ad valorem tax against
the taxable property in the District;
WHEREAS, pursuant to such authorization by the voters,
Acalanes Union High School District, Contra Costa County,
California, 1989 General Obligation Bonds, Series A, in the
principal amount of $10,000, 000 were issued in March 1989 and
1990 General Obligations, Series B, in the principal amount of
$15, 000, 000 were issued in June 1990;
WHEREAS, this Board has received previously the resolution
of the governing board of the District requesting the issuance
of a portion of such Bonds in the aggregate principal amount of
$9 , 000, 000 (the "Bonds") and this Board authorized and directed
the issuance and sale of the Bonds and has received bids on the
Bonds_ , which bids- have been timely received and considered by
this Board, pursuant to the authorizing resolution of this
Board (the "Authorizing Resolution") ;
WHEREAS, all acts, conditions and things required by law to
be done or performed have been done and performed in strict
conformity with the laws authorizing the issuance of general
obligation bonds of the District, and the indebtedness of the
District, including this proposed issue of Bonds, is within all
limits prescribed by law;
RESOLUTION NO. 91/312
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS
OF THE COUNTY OF CONTRA COSTA, CALIFORNIA, AS FOLLOWS:
SECTION 1. That for the purpose of raising money for real
property improvements, including the construction and
reconstruction of school facilities, improvements, on-site and
off-site, and to pay all necessary legal, financial,
engineering and contingent costs in connection therewith, the
issuance and sale of the Bonds at public sale is hereby
ratified, confirmed and approved.
SECTION 2 . The Bonds were previously ordered sold at
public sale with bids to be received until 11:00 a.m. on the
date and on the terms and in accordance with the Notice of
Intention to Sell Bonds attached hereto as Exhibit A (the
"Notice") . The publishing of the Notice in the "Contra Costa
Times, " which is a new of general circulation in the
County, once a week for two successive weeks, and in "The Bond
Buyer, " which is a national trade publication, at least fifteen
days prior to May 20, 1991 is hereby ratified, confirmed and
approved. The issuance and sale of the Bonds pursuant to the
provisions of the resolution of the Board of Supervisors of
Contra Costa County, California and on the terms set forth in
the Notice Inviting Proposals for Purchase of Bonds attached
hereto as Exhibit B are hereby ratified, confirmed and approved.
SECTION 3 . In accordance with provisions of the
Authorizing Resolution, this Resolution and the Notice, this
Board has caused all bids for the Bonds to be received, opened
and presented to it in the manner set forth in the Authorizing
Resolution, this Resolution and the Notice and based on an
examination of said bids and a review of the tabulation of bids
attached hereto as Exhibit C, this Board determines that the
bid of Bank of America NT & SA (the "Purchaser") , at a purchase
price of $9, 001, 189 . 85 and at an average net interest rate of
6 . 6939%, a copy of which bid is attached hereto as Exhibit D,
is in accordance with the Notice -'and is the highest bid .for the
Bonds based upon the lowest rate of interest. The Bonds,
having the terms and maturities as provided in the authorizing
resolution, this Resolution and the Notice and bearing interest
at the rate stated above and as set forth in Exhibit D, are
awarded and sold to the Purchaser at the price stated above.
SECTION 4 . Officers of the Board and County officials and
staff are hereby authorized and directed, jointly and
severally, to do any and all things and to execute and deliver
any and all documents which they may deem necessary or
advisable in order to proceed with the issuance of the Bonds
and otherwise carry out, give effect to and comply with the
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terms and intent of this Resolution. Such actions heretofore
taken by such officers, officials and staff are hereby
ratified, confirmed and approved.
SECTION 5 . The Clerk of this Board is hereby directed to
provide a certified copy of this Resolution to the County
Auditor-Controller.
SECTION 6 . This Resolution shall take effect immediately
upon its passage.
PASSED AND ADOPTED this 21st day of May, 1991, by the
following vote:
AYES: Supervisors Fanden, Schroder, McPeak
Torlakson, Powers
NOES: None
ABSENT: None
ABSTENTIONS: None
C airman, Board of Supervisors
[SEAL3
Attest:
Phil Batchelor, Clerk of the Boa:d of
Supervisors and County Administrator
71
. Clerk, Board,-of Supervi rs
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