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A . . i, l / ✓ ,/,. ,, � ,. ,, ,../ / /. �i, / ✓. < ✓/,.✓i // / / , / �./, �/ f,� /✓tis 1,,,✓✓,i�i / ,,,// i i, ✓' , i i ,�,1� i✓i, f �, � %/ � of is / i/l, riI ��' ;� / ,r,11, i/✓�,/i !� �- / ,I 1, / - � /,I, i ✓i, �., ,� r/i� 1 � �, / i. r�:r /, 1. ✓� ,/J,JI 1. /, r .��, � i/ J 1, �,, i t � ,h- /� ✓, i 1� ,,,... i, ,., �� Y / i /„ J ,ii i..,.i,,. rig./, i ,. ✓....i/ , . / ,.i. ,1 �,1 i�i ,..i✓ /, �i i // / /i i,a, .i Vii, 1 , 1,i,.,„ .. ,..., , , /.. ,ii✓, 1� .. , i. r, ✓, 1, ,,, ,��, ..., � i.. i 1. �� i✓/. / r 1 f. i ,�i.,/, /. / 1 �l / ✓�. / 1, � i, �ir �.,✓ri �� i. i� / /i fe�� i ✓ ,, i ///. / , . //., ✓,moi / ,. ✓ l �/ � . / 6� .,. /til/�,//,✓,i��i ✓,.,i/„//.�✓li,/,,,a�✓l�/F,. ,.�i-.// / i / .�. i / i , f�[,��/ill ✓, ; ��” i iio /�, � ,i✓✓,./i�S,/✓//�.�'/,tee i✓a,r,✓✓�,u✓l,,,,�i�,i/, ,./,,t//i,.,i ,,✓,1��i�✓��r/��ls,f i/i,�.,,<,///�i/�i��„ ?� f ' Resolution No.. 17-145 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF BUTTE AUTHORIZING THE EXECUTION OF A SITE LEASE,A FACILITY LEASE,AND AN ASSIGNMENT AGREEMENT RELATING TO THE FINANCING OF THE GOVERNMENTCAMPUS INFRASTRUCTURE IMPROVEMENTS PROJECT AND OTHER MATTERS RELATED THERETO WHEREAS,the County of Butte is a political subdivision of the State of California (the "County"); and WHEREAS, the Butte County Public Facilities Financing Corporation is a nonprofit public benefit corporation organized and existing under and by virtue of the laws of the State of California (the "Corporation"); and WHEREAS, the County has determined that the financing of the design and construction of utility infrastructure improvements and detention ponds for future buildings and site improvements on the 125-acre Croville Government Center, including replacement and installation of sewer, storm drains, and water lines (the "Project") is necessary and proper for the County and is in the public interest of the County, and the County has determined that providing funds to the County for financing the Project from the proceeds received from Compass Bank, an Alabama banking corporation (the "Assignees") pursuant to an Assignment Agreement, by and between the Corporation and the Assignee (the "Assignment Agreement"),will result in demonstrable savings in borrowing costs to the County and will result in significant public benefits to the County; and WHEREAS,to implement the foregoing,,the County and the Corporation propose to execute and enter into a Site Lease (the "Site Lease"), in substantially the form of the Site Lease presented) at this meeting, together with the improvements thereon (the "Facilities"), whereby the County will lease to the Corporation the therein described parcels of real property (the "Site"), and the Corporation and the County propose to execute and enter into a Facility Lease (the "Facility Lease") in substantially the form of the Facility Lease presented at this meeting, whereby the Corporation, will finance the costs of the design and construction of the Project and will lease the Site and the Facilities to the County; and WHEREAS, under and pursuant to the Facility Lease, the County will be obligated to make rental) payments (the "Base Rental Payments")to the Corporation for the lease of the Facilities to it; and WHEREAS, the Corporation proposes to assign certain of its rights under the Site Lease and desires to assign certain of its rights under the Facility Lease (including its rights to receive the Base Rental Payments due under the Facility Lease)to the Assignee pursuant to the Assignment Agreement; and WHEREAS, in consideration of such assignment,the Assignee will pay an amount not-to-exceed $2,658,000 to the Corporation, which funds will be used by the County to finance the Project; and WHEREAS, in furtherance of implementing the financing, there have been filed with the Clerk of the Hoard of Supervisors for consideration and approval by the Board of Supervisors the Site Lease and the Facility Lease; and WHEREAS, being fully advised in the matter of the proposed financing of the Project, the Board of Supervisors wishes to proceed with implementation of said financing of the Project, NOW,THEREFORE, 8E ITRESOLVED bythe Butte County Board ofSupervisors osfollows: Section 1. The foregoing recitals are true and correct, and this Board ofSupervisors sofinds and determines. Section 2. The Site Lease and the Facility Lease, made a part hereof as though set forth in full herein, are hereby approved. The Chair of the Board /the "Chair"), the Vice-Chair of the Board (the "Vice-Chair"), the Treasurer and Tax Collector of the County, or the County Administrative Officer (each, an "Authorized Representative") are, and, each of them is, hereby authorized and directed, for and in the name ofthe County, tmexecute and deliver said documents in substantially the form presented at this meeting, with such changes, insertions and omissions as the Authorized Representative executing the same may require or approve. The approval of said documents shall be conclusively evidenced by execution thereof by such Authorized Representative and the Clerk of the Board is hereby authorized and directed to attest the signatures of the Authorized Representatives and to,affix the seal of the County as may be required or appropriate in connection with the execution �nd delivery of said documents; provided that the true interest cost of the lease shall henot greater than 4.00%. Section 3. The Authorized Representatives are,and each of them hereby is,authorized and directed,jointly and severally,toexecute and deliver any and all documents and instruments amdtodoand cause tabe done,any and all acts and things necessary or proper for carrying out the transactions contemplated by this Resolution. All actions heretofore taken by the Authorized Representatives and by the officers and staff ofthe County with resper1tothe transactions contemplated by this Resolution, or in connection with or related to any of the agreements or documents referenced herein, are hereby approved, confirmed, and ratified. This Resolution shall take effect immediately upon its adoption. PASSED AND �D�PT�D bv the 8utte [bunty 8oard nf Supervisorsthis 12* day of September, 2017, by the following vote: AYES: Supervisors Wahl, Kirk, Lambert,Teeter, and Chair Connelly NOES: None ABSENT: Wone NOT VOTING: None ~ Bill Connelly, Chair a Butte County Board nfSupervisors ATTEST: Paul Hahn, Chief Administrative Officer and Clerk ofthe Board ofSupervisors