HomeMy WebLinkAboutRESOLUTIONS - 06032004 - 94-69 TO: BOARD OF SUPERVISORS CONTRA
COSTA.
FROM: KENNETH J. CORCORAN,AUDITOR-CONTROLLER COUNTY
DATE: January 18,1994
SUBJECT: Refund County of Contra Costa Open Space and Park Bonds 1974 for Co. Service Area R-8
RESOLUTION NO.94/69
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
'Recommendation:
Approve the following contracts:
1. Bond Counsel Agreement,by and between the County of Contra Costa and Orrick,
Herrington&Sutcliffe,dated as of January 18, 1994.
2. Agreement Employing Sutro&Co. for Underwriting Services,by and between the County
of Contra Costa and Sutro,&Co.,dated as of January 18, 1994.
Financial Impact:
There will be no financial impact on the County's general fund. Refunding Bonds,like original bonds,are
general obligation bonds which allow for a property tax levy within County Service Area R-8 to meet debt
service requirements. Entire benefit of re A;" will inure to property owners.
Background:
These actions employ bond counsel and an underwriter to begin the process of accomplishing the refunding of
the CSA R-8 general obligation bonds. Sutro&Co.has determined that the refunding can generate property
owner savings at current market rates. Orrick,Herrington& Sutcliffe was the bond counsel on the original
transaction.
CONTINUED ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD CONWIITTEE
APPROVE OTHER
SIGNATIJRES(S):
ACTION OF BOARD ON A A 0% APPROVED AS RECOMMENDED,`OTHER
- lag
VOTE OF SUPERVISORS
,%o/UNANIMOUS(ABSENT I HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES Of THE BOARD
OF SUPERVISORS ON THE DATE SHOWN.
Contact: Stephen Ybarra (646-2225) ATTESTED I I? 19 q
cc: CAO PHIL LTCHELOOIERK OF THE BOARD OF
SUPERVISORS AND COUNTY ADMINISTRATOR
BY DEPUTY
RESOLUTION NO. q t-16 q