HomeMy WebLinkAbout19-195WHEREAS, the issuance ofnot to exceed $19,700,000 aggregate principal amount ofgeneral obligation bonds (the
"Authorization") of Durham Unified School District (the "District"), County ofButte (the "County"), State of California was
authorized at an election (the "Election") held in said District on November 5, 2018, the proceeds of which are to be used for
the financing cfthe, acquisition, construction, equipping, furnishing and improvement ofcertain capital facilities of the District
(the "Pnojeot");and
WHEREAS, the Butte County Registrar of Voters has certified to the effect that the official canvass of returns for the
Election reflected that 55% or more of the votes cast on the District's bond measure submitted to the voters at the Election (the
"Measure") were cast in favor of the Measure, and such result has been entered in the minutes of the Board of Trustees of the
District (the "Board°);and
WHEREAS, no general obligation bonds have been issued under the Authorization, such that $19,700,000 aggregate
principal amount ofgeneral obligation bonds cfthe District remain: for issuance under the Authorization; and
WHEREAS, Sections 53506 etseq, of the California Government Code, including Section S3�5O8.7thereof, provide that
a school district may issue and sell bonds on its own behalf pursuant to Sections 15140 or 15146 of the California Education
Cmde;and
WHEREAS, Section 1514O(b)ofthe California Education Code provides that the board ofsupervisors ofacounty may
authorize a school district over which the county superintendent of schools of such county has jurisdiction to issue and sell its
own bonds without the further action of the board of supervisors or officers of the county if said school district has not received
squalified urnegative certification imits most recent interim report; and
WHEREAS, the Board has heretofore adopted, and filed with the Clerk of the Board of Supervisors of the County (the
"Board of Supervisors"), a resolution (the "District Resolution") providing for the issuance and sale of its Durham Unified School
District (County of Butte, California) General Obligation Bonds, 2018 Election, 2019 Series A (the "Bonds"), in one or more series,
with appropriate additional or other series designations, in a,n aggregate principal amount not exceeding $7,000,000, pursuant
toSections 53S86etseq. ofthe California Government Code; and
WHEREAS, the District, through the District Resolution, has requested that the Board of Supervisors authorize the
District to issue and sell the proposed Bonds on its own behalf pursuant to Sections 1514Oand 1S146efthe California Education
Coda, as permitted by Section 53580.7 of the California Government Code, and the terms set forth in the District Resolution,
and has represented and warranted to the County that it has not received a qualified or negative certification in its most recent
interim report; and
WHEREAS, the Board of Supervisors has been formally requested by the District to levy taxes in an amount sufficient
to pay the principal of and interest on the Bonds when due, and to direct the Auditor -Controller of the County (the "Auditor -
Controller") to maintain on its tax roll, and all subsequent tax rolls, taxes sufficient
Auditor-[antroUer")toma|mta|nonbstaxro|U,amdaNsubaequenttaxroU»,taxessuffident tofuUfiUthe requirements ofthe debt service
schedules for the Bonds that will be provided to the Auditor Controller by the District following the sale of the Bonds.
NOW, THEREFORE, BE IT RESOLVED that the Board of Supervisors of the County of Butte does hereby resolve,
determine and order asfollows:
Section 1. Recitals. That all nfthe above recitals are true and correct.
Section 2. Consent and Authorization of Sale. The Board oƒSupervisors hereby consents nmand authorizes the issuance
and sale bythe District onits own behalf ofthe Bonds, pursuant to Sections 1S14Oand 15146ofthe California Education Code,
as permitted by Section 53508.7(c) of the California Government Code, and the terms set forth in the District Resolution. This
authorization shall only apply tothe Bonds.
Section: 3. Approval of Actions. Officers of the Board of Supervisors and County officials and staff, including, but not
limited to, the Treasurer -Tax Collector, Auditor -Controller and the Clerk of the Board of Supervisors, and their respective
designees, areauthorizedtodoany and all things and are hereby authorized and directed, jointly and severally, to execute and
deliver any and all documents which: they may deem necessary or advisable in order to assist the District with the issuance of
the Bonds, including but not limited to, the levy of taxes annually in an amouint sufficient topay the principal and interest coming
dueontheBunds.Such actions heretofore taken bVsuch off iiceo,officials and staff ofthe County are hereby ratified, confirmed
and approved.
Section 4. Preparation of Tax Roll. The AuditopCuntroUeris hereby directed to place on its tax roll, and all
subsequent tax rolls until the Bonds are paid in accordance with their terms, taxes in an amount sufficient to fulfill the
requirements of the debt service schedules for the Bonds, which will be provided to the Auditor -Controller and Treasurer -Tax
Collector bythe District following the sale ofthe Bonds.
Section S. Indemnification of Count . The County acknowledges and relies upon the fact that the District Resolution
provides that the District s#e|| indemnify the County, its officers, agents and employees against any and all losses, claims,
actions, suits, judgments, demands, damages, liabilities and expenses (including attorney fees and costs ofinvestigation) cfany
nature arising out ofany action orinaction ofthe District with respect tmthe issuance ofthe Bonds.
Sec6oa6. Limited Responsibility for Official Statement. Neither the Board ufSupervisors nor any officer ofthe County
has prepared o/ reviewed the official statement of the, District describing the Bonds ("Official Statement"), and the Board of
Supervisors and the various officers of the County take no responsibility for the contents or distribution thereof;
however, that solely with respect to a section contained, or to be contained, therein describing the County's investment policy,
current portfuHo holdings, and valuation procedures, as they may relate to funds of the District held by the Treasurer -Tax
Collector, the Treasurer-T,ax Collector is hereby authorized and directed to prepare and review such information for inclusion in
the District's Official Statement and in a Preliminary Official Statement prepared in connection with the issuance and sale of the
Bonds.
Section, 7' Notwithstanding anything to the contrary contained herein, in the Bonds or in any other
document mentioned herein, neither the County nor the Board of Supervisors shall have any |iabi:l|ity hereunder or by reason
hereof or in connection with the transactions contemplated hereby and the Bonds shall! be payab,le solely from the od volorem
property taxes of the District available therefore as set forth in the District Resolution and herein.
Section 8. Effective Date. This RasmUutiomshall take effect immediately upon its passage.
PASSED AND ADOPTED bythe Butte County Board ofSupervisors this 2Vday of May, 2019, bythe following vote:
AYES: Supervisors Connelly, Luoeno,Ritter, Teeter, and Chair Lambert
00ES:Nome
ABSENT:Nome SteveLammberk�dalr
NOT VOTING: None Butte County Board of Supervisors
ATTEST:
Shari McCracken, Chief Administrative Officer
and Clerk ofthe Board ofSupervisors