HomeMy WebLinkAbout19-203RESOLUTION OF THE BOARD OF SUPERVISORS OF TAE
Y --
GLENN COMMUNITY COLLEGE DISTRICT TO SELL BONDS DIRECTLY AND DIRECTING THE COUNTY AUDITOR -
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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;
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 $190,0010,000,
payable from the levy of an ad valorem property tax against the taxable property in the District (the "Authorization"); and
WHEREAS, on April 6, 2017, the District caused the issuance of the first series of bonds under the Authorization
in the aggregate principal amount of $42,000,000;
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 "D'istrict
Board"), authorizing the issuance of a second series of bonds under the Authorization, in an aggregate principal amount
not -to -exceed $,49,500,000, to be styled as "Butte -Glenn Community College District (Butte and Glenn Counties, California)
Election of 2016 General Obligation Bonds, Series B" (the "Bonds"); and
WHEREAS, pursuant to Article 4.5 of Chapter 3 of Part 1 of Division 2 of Title 5 of the 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, 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 hais formally requested to have the Auditor -Controller
of the County (the "Auditor -Controller") levy ad valorem property taxes in an amount sufficient to pay the principal of and
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 of the debt service schedule for the Bonds that will be provided to the Auditor -Controller and Treasurer -
Tax Collector of the County (the "Treasurer") by the District following the sale of the Bonds;
NOW, THEREFORE, BE IIT 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 Education Code Section 15140(b), 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 $49,500,000, 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 in the County situated within the District, during the period when any of the Bonds are outstanding,
advalorem property taxes in an amount sufficient to pay the principal of and interest on the Bonds when, due. Such taxes,
when colllected, shall be paid to the Treasurer pursuant to Education Code Section 15251. 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 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.
vote
Section 4. Effective Date. This Resolution shall take effect immediately upon its passage.
PASSED AND ADOPTED by the Butte County Board of Supervisors this 11' day of June, 2019, by the following
AYES: Supervisors Connelly, Lucero, Ritter, Teeter, and Chair Lambert
NOES:
ABSENT:
ATTEST:
Shari McCracken, Chief Administrative Officer
and! Clerl�4the B9,prd of Supervisors
Steve Lambe ,rif,"Chair
Butte County Board of Supervisors