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HomeMy WebLinkAbout13-074RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF BUTTE, CALIFORNIA, AUTHORIZING THE CHICO UNIFIED SCHOOL DISTRICT TO SELL BONDS DIRECTLY AND DIRECTING THE COUNTY AUDITOR-CONTROLLER TO MAINTAIN TAXES ON THE TAX ROLL WHEREAS, a duly called municipal election was held in the Chico Unified School District (the "Distric#"), Butte County (the "County"), State of California, on November 6, 2012 (the "Election") and thereafter canvassed pursuant to law; WHEREAS, at the Election #here was submitted to and approved by the requisite fifty-five percent or more vote of the qualified electors of the District a question as to the issuance and sale of general obligation bonds of the District far the various purposes set forth in the ballot submitted to the voters, in the maximum amount not-to-exceed $78,000,000, payable from the levy of an ad valorem tax against the taxable property in the District (the "Authorization"); and WHEREAS, at this time this Board of Supervisors (the "Board") has received a certified, adopted copy of a resolution (the "Distric# Resolution"} of the Board of Education of the Chico Unified School District (the "District Board"), authorizing the issuance of a first series of bonds under the Authorization in an aggregate principal amount not-to-exceed $15,000,000 to be styled as "Chico Unified School District (Butte County, California) Election of 2012 General obligation Bonds, Series A" {the "Bonds"}; and WHEREAS, the Distric# has not received a qualified or nega#ive certification in its most recent interim report pursuant to Section 42131 of the California Education Code; and WHEREAS, pursuant to Article 4.5 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code (the "Act"), the Bonds are authorized to be issued by the District, for the purposes set forth in the ballot submitted to voters at the Election; and WHEREAS, California Education Code Section 15140{b) authorizes a county board of supervisors to adopt a resolution providing that, in specified circumstances, the governing board of a school district over which the county superintendent of schools has jurisdiction may issue and sell bonds on its own behalf and without further action by the board of supervisors or other offices of the county; and WHEREAS, this Board desires to make such procedures available to the Board of Education of the District with regard to the Bonds; and WHEREAS, pursuant to the District Resolution, the District has formally requested to have the Auditor- Control[er of the County (the "Auditor-Controller") levy ad valorem taxes in an amount sufficient to pay the principal of and interest on the Bonds when due, and to place on its 2013-14 tax roll, and all subsequent tax rolls, taxes sufficient to fulfill the requirements of the debt service schedule for the Bonds that will be provided to the Auditor-Controller and Treasurer-Tax Cofiector of the County (the "Treasure") by the Dis#rict following the sale of the Bands; NOW, THEREFORE, IT iS HEREBY RESOLVED by the Board of Supervisors of the Caunty of Butte as follows: Section 1. Application of Section 1514E1[b) to Bonds sold under the Authorization by the District. Pursuant to -Section 151~40(b} of the Education Code, this Board authorizes the District to issue and sell the Bands on its own behalf under the Authorization, in one or more series of bonds, and in the maximum principal amount of $15,000,000, without further action by this Board. Section 2. Lev and Collection of Tax for Pa ment of Bonds. This Board authorizes the levy and collection, on all taxable property in the County situated within the District, during the period when any of the Bonds are outstanding, ad valorem taxes in an amount sufficient to pay the principal of and interest on the Bonds when due. Such taxes, when collected, shall be paid to the Treasurer pursuant to Section 15251 of the Education Code. The Auditor-Controller is further authorized and directed to maintain on its tax roll, and ail subsequent tax rolls, taxes in an amount sufficient to fulfill the requirements of the debt service schedule for the Bonds. Section 3. Other Actions. The Chair, the Clerk, the County Auditor-Controller, the County Counsel, and the Treasurer and the deputies and designees of such officers, are hereby authorized and directed to execute and deliver any and all certificates, representations or agreements as may be acceptable to County Counsel, and which are deemed necessary and desirable to accomplish the transactions authorized herein or to otherwise comply with the terms of this Resolution. Such actions heretofore taken by such officers, officials and staff are hereby ratified, confirmed and approved. Section 4. Effective Date. This Resolution shall take effect immediately upon its passage. PASSED AND ADOPTED by the Butte County Board of Supervisors this 7th day of May by the following Vote: AYES: Supervisors Wahl, NOES: None ABSENT: None NOT VOTING:None ATTEST: G, By: Pa ,Chi f Admini Clerk of the Board of Sui Kirk, Lambert, Teeter and Chair Connelly BILL CONNELLY, Cha~ Butte County Board of Supervisors Officer and rs