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HomeMy WebLinkAbout17-041 r/ / F / J- 1 / - / / r Resolution No. 17-0141 RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF BUTTE, CALIFORNIA, AUTHORIZING THE BUTTE-GLENN COMMUNITY COLLEGE 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 Butte-Glenn Community College District (the "District"), Butte County (the "County") and Glenn County, State of California, on November 8, 2016 (the "Election") and thereafter canvassed pursuant to law; and WHEREAS, at the Election there 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 for the various purposes set forth in the ballot submitted to the voters, in the maximum amount not-to- exceed $19'0,000,000, 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 "District Resolution") of the Board of Trustees of the Butte-Glenn Community College District (the "District Board"), authorizing the issuance of a first series of bonds under the Authorization in an aggregate principal amount not-to-exceed $42,000,000, to be styled as "Butte-Glenn Community College District (Butte and Glenn Counties, California) Election of 2016 General) Obligation Bonds, Series A" (the "Bonds"); 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 community college 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 Trustees of the District with regard to the Bonds; and WHEREAS, pursuant to the District Resolution, the District has formally requested to have the Auditor- Controller 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 2017-1.8 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 1 Auditor-Controller and Treasurer-Tax Collector of the County (the "Treasurer") by the District following the sale of the Bonds. NOW,THEREFORE, IT IS HEREBY RESOLVED by the Board of Supervisors of the County of Butte as follows: Section 1. Application of Section 15140(b) to Bonds sold under the Authorization by the District. Pursuant to Section 15140(b) of the Education Code, this Board authorizes the District to issue and sell the Bonds on its own behalf under the Authorization, in one or more series of bonds, and in the maximum principal amount of$42,000,000, without further action by this Board. Section 2. Lev y and Collection of Tax for Payment 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 all subsequent tax rolls, taxes in an amount sufficient to fulfill the requirements of the debt service schedule for the Bonds. Section B. Other, Actions. The Chair of the Board of Supervisors, the Clerk of the Board, the County Auditor-Controller, the County Counsel, the Treasurer-Tax Collector, 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 14th day of March, 2017 by the following vote: AYES: Supervisors Wahl, Kirk, Lambert, Teeter, and Chair Connelly NOES: None ABSENT: None NOT VOTING: None BILL CONNELLY, Chair V Butte County Board of Supervisors ATTEST: PAUL HAHN, Chief Administrative Officer and Clerk of the Board of Supervisors By: Depu 2