HomeMy WebLinkAbout19-194RESOLUTION OFTHE BOARD OF SUPERVISORS OF THE COUNTY OF BUTTE, STATE OFCALIFORNIA,
AUTHORIZING THE CH|COUNIFIED SCHOOL DISTRICT TO SELL BONDS DIRECTLY, AND DIRECTING THE
COUNTY AUDITOR- CONTROLLER TO MAINTAIN TAXES ON THE TAX ROLL
WHEREAS, the Chico Unified School District (the "Dis1rict"\isaunified school district located within the County
of Butte (the "County"), State of California (the "State"), and is organized and operating pursuant to the Constitution and
laws mfthe State; and
WHEREAS, an election was duly and regularly held in the D�istrict (the "District.) on November 8, 2016, in
accordance with Section 1(b)(3)ofArticle XK|UAoftheCa|dbrniaCVnstitution,fmrthepmrposeufsubrnbtin8MeasupeK
(the "Bond Measure") to the qualified electors of the District, authorizing the issuance of general oNigation bonds in,
the aggregate principal amount of $152,000,000, and more than the requisite 55%of votes cast were infavorofthe Bond
Measure; 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 Bond Law"), general obligation bonds are authorized to be issued by the District for the purposes set forth
inthe ballot submitted tovoters |mthe Bond Measure; and
WHEREAS, on 4priU 25, 2017, the District issued its $20\000008 aggregate principal amount of General
Obligation Bonds Election of 2016, Series A-1 and its $25'080,000 aggregate principal amount of General Obligation
Bonds Election of 2016, Series A-2, all pursuant to the authorization of the Bond Mea,sure and the Bond Law; and
WHEREAS, the Board of Supervisors of the County (the "Board") has received a certified, adopted copy of
Resolution No. 1499.19 of the Board of Education of the District (the "District Resolution"), authorizing the issuance of
a third series of bonds pursuant to the Bond Measure in an aggregate principal amount not -to -exceed $55,000,000 to be
clesignatedthe "Chico UnifiedSchool District (Butte County, California) General Obligation Bonds Election of 2016, Series
WHEREAS, the District has not received a qualified mrnegative certification in its most recent interim report;
WHEREAS, California Education Code Section 1S140(b) authorizes a county board of supervisors to adopt a
nesnUwtiom providing that, in specified circumstances, the governing board of 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 ofsupervisors orother offices ofthe 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 tothe District Resolution, the District has formally requested tohave the Auditor -Controller
ofthe County (the "Auditor-ContnmUer") levy mdvalorem taxes inanamount sufficienttopay the prindpa|mfand interest
on the Bonds when due, and to place on its 2019-20 tax roll, and all subsequent tax rolls, taxes sufficient to fulfill the
requirements ofthe debt service schedule for the Bonds that will beprovided tothe Auditor-Contmo||erand Treasurer -
Tax D7||ectmroftheCounty(the'^Treasurer")bvtheOistr[ctfm||om/img the sale ofthe Bonds.
NOW, THEREFORE, |T|SHEREBY RESOLVED by the Board of Supervisors ofthe County ofButte as follows:
Section 1. Issuance of Bonds. This Board authorizes the District tnissue and se|the Bonds onits own behalf
undertheAuthorization, iDone n/more series of bonds, and in the maximum principal amount of $55,000,000, without
further action by this Board.
Section 2. Levy and Collection of Tax for Payment of Bonds. This Board authorizes the levy and collection, on
all taxable property imthe County situated within the District, during the period when any Vfthe 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 tothe Treasurer pursuant toSection 15251nfthe Education Code.
Section 3. Preparation of Tax Roll. The Auditor-Controliler is further authorized and directed to maintain on its
2019-20 tax rnll, and all subsequent tax ro,lls until the Bonds are paid in accorclancewith theirterms, taxes in an amount
not lessthan sufficientto fulfill�the requirements of the debt service schedule for the Bonds.
Section 4. The Board of Education of the District has requested this
Board toestablish amannual reserve for the purpose ofavoiding fluctuating tax levies, aspermitted under California
Education Code Section 1525U.This Board hereby authorizes the office of the Auditor -Controller tmcoordinate with the
Assistant Superintendent, Business Services, of the District regarding the rate of the taxes to be levied.
Section S. Other Actions. The Chair of the Board, the Clerk of the Board, 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 orto otherwise comply
with the terms ofthis Resolution. Such actions heretofore taken by such officers, officials orstaff are hereby ratified,
confirmed and approved.
vote:
Section 6. Effective Date. This Resolution shall take effect immediately upon its passage.
PASSED AND ADOPTED bythe Butte County Board of Supervisors this Z1'tday of May, 2019, bythe foU|owin,g
AYES: Supervisors Connelly, Lu��Ritter, Teeter, and Chair Lambert
NOES: None
ABSE0T:None
ATTEST
Shari McCracken, Chief Administrative Officer
and Clerk ofthe Board ofSupervisors
Steve Lambert hair
Butte County Board of Supervisors