HomeMy WebLinkAboutRESOLUTIONS - 05061997 - 97-233 V r
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RESOLUTION NO. 97/233
RESOLUTION OF THE BOARD OF SUPERVISORS
OF THE COUNTY OF CONTRA COSTA, CALIFORNIA,
REGARDING THE HOLDING OF A PUBLIC HEARING
IN CONNECTION WITH THE ISSUANCE AND DELIVERY OF
INSURED REVENUE CERTIFICATES OF PARTICIPATION
EVIDENCING AN OBLIGATION OF THE
ABAG FINANCE AUTHORITY FOR NONPROFIT CORPORATIONS
TO FINANCE THE ACQUISITION AND CONSTRUCTION OF
A MULTILEVEL RETIREMENT FACILITY BY
HOME FOR JEWISH PARENTS
WHEREAS, to finance the acquisition and construction of a multilevel retirement
facility by Home for Jewish Parents, located in an unincorporated area of Contra Costa
County (the "Project"), the ABAG Finance Authority for Nonprofit Corporations (the
"Authority") has expressed its intent to enter into an Installment Purchase Agreement,
obligating itself to make certain payments which will be evidenced by certificates of
participation the aggregate principal amount not to exceed $13,000,000 (the "COPs"); and
WHEREAS, this Board of Supervisors is the elected legislative body of the County
of Contra Costa (the "County"); and
WHEREAS, in accordance with Section 147(f) of the Internal Revenue Code of
1986, as amended (the "Code"), the Clerk of the Board provided for the timely publication
of a Notice of Public Hearing, to the effect that a public hearing would be held by this Board
of Supervisors on May 6, 1997, regarding the execution and delivery of the COPs and the
nature and the location of the Project, a copy of which is attached hereto;
NOW THEREFORE, THE BOARD OF SUPERVISORS OF THE COUNTY OF
CONTRA COSTA DOES RESOLVE AS FOLLOWS:
Section 1. This Board of Supervisors does hereby find and declare that the above
referenced recitals are true and correct.
Section 2 . Pursuant to Section 147(f) of the Code, this Board of Supervisors held
a public hearing on this day and provided an opportunity to present arguments both for and
against the execution and delivery of the COPS and the nature and location of the Project.
This Board of Supervisors has further considered all testimony and comments submitted in
connection with the execution and delivery of the COPs and the nature and location of the
Project at the public hearing.
372158.1
Y 4
Section . After consideration of comments received at the public hearing, the
Board of Supervisors of the County hereby approves the execution and delivery of the COPS
and the operation of the Authority within the County to provide financing for the acquisition
and construction of the Project.
Section 4. It is the purpose and intent of the County that this Resolution
constitute approval by the applicable elected representative in accordance with the terms of
Section 147(f) of the Code.
Section 5. This Resolution shall take effect from and after the date of its passage
and adoption.
Section 6. The Clerk of the Board of Supervisors shall certify to the adoption of
this Resolution.
PASSED and ADOP'T'ED this 6th day of May by the following vote:
AYES: Supervisors Rogers, Uilkema, Gerber and DeSaulnier
NOES: None
ABSENM Supervisor Canciamilla
ABS"'AIN: None
I hereby certify that this Is a true and correct copy of
an action taken and entered on the minutes of the
Board of S cors o�the� erswn.
ATTESTED: r6 ��
PHIL B T OR, Icri, u' ho Board
ervisorS d Coun,y , ' istrator
J
Deputy