HomeMy WebLinkAbout75-142Bi3TTE COUNTY SEF2VICE AREA N0. 26
RESOLUTION PTO. 75-142 __
R~SdLUTION PRESCRIBII3G TTiE DENQMINATION, MATURITY
SCHEDULE AND R~DEMPTION PROVISTON FOR $808,000
PRINCIL~P;T, AMOUNT OF BUTTE COUNTY SERVICE AREA NO.
26 ~975 SEWEkt BO1~DS, TO CONSTITUTE SERIE$ B THERE-
OF; 7~,ND PRESCRIBING TIiE FORMS OF SAID 6ERIES B
BONDS AI3D OF TFiE COUPONS TO BE ATTACT-TED THERETO.
WHEI.tEAS, this Board of Supervisors by Resolution No.
7:i-O aclopted on January 21, 1975, Ycas duly authorized the
issuance of $1,500,000 principal amount of Butte County Ser-
vice A~ea No. 26 1975 Sewer Bonds, and $400,000 principal
amount of said bonds, constituting Series A thereof, were duly
issued, sold and delivered;
NOW, THEREFORE, BE IT RESOLVED AND ORIIERED by the
Board of Supervisors of the County of Butte, as £oilows:
Sectipn 1. Resolution No. 75--8 adopted by this Board
of Supervisors on January 21, 1975 is hereby incorporated herein
by reference and made a part hereof, except only as herein
specifically otherwise provided.
Section 2. $808,000 principal amount of the Butte
County Service Area No. 26 i975 Sewer Bonds sha11 be issued and
~t51d as hereinafter provided and said $808,0~0 principal amount
of bonds are hereby designated for convenience as the Series
B bonds, and the remaining $292,000 principal amount of said
anthorized issu~ of bonds shall be issued and sold and desig-
nated as this Board of Supervisors shall hereafter determine.
Said Series B bonds shall mature and become payabie as set
forth in the following schedule:
Principal Maturity Date (January 1)
Amount (both years inclusive)
$ 8,000 1979
10,000 1980 - 1988
15,000 Z989 - 1995
20,Ob0 1996 - 2000
25,000 2001 - 2004
30,000 2005 -.2007
35,000 2008 - 2010
40,000 2011 - 2013
45,000 2014 - 2015
Except as provided in Sec~ion 3 hereof, said Series B bonds
shall be issued in coupon form payable to bearer, shall be
164 in number, numbered in co nsecutive numerical order from
Bl upwards in order ot their respective maturities, with Series
B bonds numbered B1-B3, bo~h inclusive~o~ the denomination of
$1,000 and Series B bonds numbered B4-B164, both ~nc~usive, of
the denomination of $5,000, a nd shall bear interest frpm their
date until paid. Such interest shall be evidenced by coupons
attached to each 5eries B bond, and each of said coupons shall
represent six months` in~erest on the bond to which it is
attached (except the first of said coupons, which shall repre-
sent twelve months' interest on ~he bond to which it is attached).
Said interest coupons shall be numbered in consecutive numerica~
order and sha11 be payable semiannually on January 1 and July
l in each year until said bonds are paid (except that the first
coupon on each such bond shall be payable on Januarp 1, 1976).
2
Both the principal of and interest on said bonds shall be
payable in lawful money of the United States of America at
the office of the County Treasurer of Butte County, in Oro-
vi11e, California,
Series B bonds maturing by their terms on or prior to
January 1, 1985 are not subject to redemption prior to their fixed
maturity dates. ~ Series B bonds maturing by their terms on or after
January 1, 1986 are subject to redemption prior to their fiXed
maturity dates, at the option of this Board of Supervisors, on
January, 1, 1985, but not prior there~o, and on any interest'
payment date thereafter prior to maturity, as a whole or in
part in inverse numerical order, at the principal amount thereaf
and accrued interest to date of redemption.
Whenever funds are available for the ca11 and
redemption of any of said bonds then subjec~ to call and redemption,
this Board of Supervisors shall de~ermine the numbers of said
bonds to be called and redeemed, and the date of redemption
thereof, Notice o~ any such redemption shall be published
by this Board of Supervisors once a week for three 5uccesszve
weeks in a newspaper of general circulation printed and published
in the County of Butte, State of California. The notice of
redemption shall set fozth the bond numbers and principal amount
of said bonds so ~o be called and redeemed. Similar notices
shall be mailed at the same time by this Board of Supervisors
to the respective registered owners of any of said bonds called
for redemption at their addresses a~pearing on the registration
book in the office of the Treasurer of the County of Butte;
provided that such mailing shall not be a condition precedent
tv such redemption and failure to mail or receive any such
notice shaZl not affect the validity of the proceedings
for the redemp~ion of any of said bonds. The first publication
3
_ ,, _
-- _ _ - ___ .. _,
.. ~ .~1~1~.:
o£ such notice of redemption shall be not less than thirty (30)
days nor more than sixty (60) days prior to the date fixed for
such redemptinn. After the date fixed £oz such redemption, if
this Soard of Supervisors shall have duly published notice of
such redempt~on and shall have provided funds available for
payment of the principal and accrued interest on said bonds so
called, interest on such bonds shall cease. Al1 of sa~d bonds
and coupons surrendered upon ca11 for redemption shall be
cancelled and shall not be reissued.
Section 3. Notwithstanding anything to the contrary
herein contained, the initial purchaser of said 8eries B bonds
may elect to receive, in lieu of coupon bonds as provided in
Section 2, fully registered bonds in the denomination of $1,000
or $5,000, as the case may be, issued pursuant to thi5 section,
which fully registered bonds shall be numbered from RB1 up-
wards in the order of their respective maturit~es, and shall
bear interest from their date of initial registration and de-
livery. Said bonds issued zn fully registered.form shall be ex~
changeable a~ the expense of the Area at any time after the
first payment of intexest thereUnder, upon 90 days' notice, at
the request of ~he registexed owner and upon surrender of such
fully registered bonds at the office of the Caunty Treasurer of
the County of Butte, for the para11e1 numbered bonds issued in
coupon form as provided in Section 2, and such bonds issued in
exchange in coupon form shall have attachefl thereto coupons rep-
resenting interest from the date to which interest has previously
been paid on the fully registered bonds. Any fu11y registered
bonds so surrendered shall be cancelled, and shaZl not be reissued.
Section 4. Said Series B bonds in coupon ~orm and
the coupons to be attached thereto and said Series B bands in
fully registered form shall be in substantially the following
forms, respectively:
4
Section 5. This resolution sha11 take effect
immediate].y .
PASSED AND ADOP~'ED September 30, 1975 by the follow-
ing vo~e:
AYES: Supervisors Cameron, Madigan, McKillop, Richter and Chairman Ladd
NOES : None
ABSENT: None
airman o£ the Boar f Supervisors
of the Coeuity of Butte
[ SEP,L ]
ATT~S~: CLARK A. NELSON, COUNTY CLERK
BY:~~ev ~
Clerk of the oard o~ rvisors
of the County of Butte
Board of Su pervisors Clerk
ii
~ _ _...
__ .__... . ---- __ _ _ _ .. . __ __ _ ~ ~ ~
' ~ . .. ~ i
[Foxm of Coupon Bond~
UNITED STA~ES OF AMERICA
STATE OF CALIFORNIA
COUNTY OF BUTTE
BUTTE COCTN'I'Y SERVICE AREA N0. 26 1975 SEWER BOLVD, SERIES B
No. g
The Board of Supervisors of Butte County, State
of California, for and on behalf of BUTTE COUNTY SERVICE AREA
NO. 26, a county service area dul.y established and exis~.ing
under the County Ser~rice Area Law of the State of California
and located in Butte CauntX, State o£ California, for value
received hereby promises to pay (sol.ely out of the revenues
hereinafter mentioned) to the bearer hereof (or if this bond
be registered, to the registered holder hereof) on
3ANUARY 1,
(subject_to any ri.ght of prior redemption hereinafter reserved)
the principal sum of
THOUSAND BOT,LARS ($ )
together with interest thereon at the rate of five per cent
(5~) per annum un~il paymen~ o£ said principal sum in £u11,
payable annually the first year on J'anuary 1, 1976 and thereafter
semiannually on January ]. and July I of each year. Unless this
bond is registered, suck- interest, at or prior to maturity,
shall be payable only on presentation and surrender of the
proper interest coupons hereto attached as they respectively
become due. Both the principal of and interest on this bond
are payable in lawful money of the United States of ~lmerica
at the office of the County Treasurer of Butte County, in Orovi3.le,
Cali~ornia.
Bonds maturing by their ~erms on or prior to
January l, 1985 are not subject ~o redemption priar to their
fixed maturity dates. Bonds maturing by their terms on
or after January 1, 1.986 are subjec~ to redemption prior to
their fixed maturity dates, at the option of the County of Butte,
on January l, 1985, but not prior thereto, and on any interest
payment date thereafter pr.ior to maturity, as a whole or in
part a.n in~crerse numerical ozder, at the princ~.pal amount
thereof and accrued interest to date o£ redemption.
This bond is one of a duly authorized issue of bonds
aggregating Qne Million Five Fiundred Thousand Aoilars ($1,500,000)
in principal amount, all of like tenoz and date (except for
such variations,.if any,_as m~ be.required to designate varying
_ _. --_ -
series, denominations, numbers or maturiti.es) an~ is issued under
and pursuan~ to the provisions of the Constitution and statutes
of the State of California, and under and pursuant to proceedings
of the Board of Supervisors of Butte County duly adopted and
taken and a vote and assent of more than two-thirds of all of the
qualified electors of Butte Caunty Service Area No. 26 voting at
a special eleation duly cal3.ed and held for that purpose.
purpose.
This bond may be registered as to principal and
interest and thereafter the prancipal and interest hereof
sha11 be payable only to the registered owner.
It is hereby certified, recited and declar~d that
all. acts, conditions and things required by law to exist,
happen and to be performed precedent to and a.n the issuance of
this bond ha~re existed, happened and been performed in due
time, form and manner as requi.red by law, and that ~he amount
of this bond, together with all other indebtedness of Butte
County Service Area I3o. 26, does not exceed any limit prescribed
by ~he Constitution or statutes of the State of California,
and that provisaon has been made as required by the statutes of
said State for the levg and collection of an annua~. tax on the
taxable property in said Area for the payment of the principal
of and interest on this bond as the same become due. This
bond and the interest hereon are payable only from the
revenues derived from taxes levied and collected upon the
taxable property within said Area, and the issue of bonds of
which this bond a.s one does not constitute a general obligation
or indebtedness of the County of Butte, and neither said Count_y
nor any officer thereof is holden otherwise for tlie payment thereo~.
IN WITNESS WHEREOF, ~he Board of Supervisors of
Butte County has caused this bond ~o be signed by its
Chairman and coun~ersigned by its Clerk and its seal to be
hereto affixed, and has caused the interest coupons attached
hereto to be signed by its Clerk, and this band to be dated
January 1, 1975,
[SEAL] C i.rman of ~h Boar of Supervisors
of Butte County
Countersigned:
Clerk of the Board of Supe~visors
of But~e County
[Form of Coupon]
Coupon No.
On . ~
the Board of Supervisors ~
of ~utte County, £or and
on behalf of BUTTE COUNTY
SERVICE AREA NO. 26, will
(unless the within men~ioned
bond be registered) pay, solely
out of the revenues referred
to in said bond, to the
bearer at the office of the
County Treasurer of Butte
County, in Oroville, California,
the sum'set forth herean in
lawful money of the United States $
of America, being znterest then
due on its 1975 Sewer Eond; Series B,
dated January 1, 1975, No. B
Clerk of the Board af Supervisors
af Butte County
7
_ __ _ _ _ __ _ ___ _ _ . _ _ _ _ _ ~l 1 _
.. : . ~ ;r ~
[Form of Fully Registered Bond]
UNITED STATES OF AMERIC~
STATE 0~' CALZFORNIA
COUNTY 0~' BUTTE
BUTTE COUNTY SERVICE AREA N0. 26 ~-975 SEWEI2 BOND SERIES B
No. ~ $
The Board of Supervisors o£ Butte County, Sta~e
of California, for and on behalf of BUTTE COUNTY SE~tVICE AR~1~
Np.26, a county service area du~.y established and existing
under the County Servica Area Law of the State of California
and located in Butte County, State of California, for value
received hereby promises to pay (solely out of the revenues
hereinafter mentioned) to the registered owner her~of on
JANUARY 1,
(subject to any right o~ prioa~ redemption hereinafter reserved}
the principal. sum of
THOUSAND AOLLARS ~$ )
together with interest thereon from the date of i.nitiaJ. re-
gistration hereof {as set forth on the reverse hereo£) at the
rate of five per cent (5~) per annum until payment of said
principal sum in full, payable annually the £irst year on
January 1, 1976 and thereafter semiannually on January ~. and
Su1y 1 of each year. Both the principal of and interest on
this bond are payable in lawful money nf the United States of
America at the office of the County Treasurer of Butte County,
in Oroville, California.
Bonds maturing by their terms on or prior to
January 1, 1985 are not subject to redemption prior to tl~eir
fixed maturi.ty dates. Bonds inaturing by their terms on
or after Januaz~y l, 1986 are subject to redemption pr~.or to
their fixed znaturity dates, at the option of the County of Butte,
on ~anuary 1, 1985, but not prior thereto, and on any interest
payment date thereafter prior to matnrity, as a whole or in
part in inverse numerical order, at the principal amount
thereof and acc~ued interest to date of' redemption.
8
This bond is one of a duly authorized issue of bonds
aggregating One Mi.llion Five FIundred Thousand Dollars {$1,500,000)
in principal amount, all of like tenor and date {except for
such variations, if any, as may be required to de.signate varying
series, denominations, numbers or maturities) and is issued under
and pursuant to the provisions of the Constitution and statutes
of the State of California, and under and pursuant to proceedings
of the Board of Supervisors of Bu~te County duly adopted and taken
and a vote and assent of more than two-thirds of all of the
qualified electors of Butte County Service Area No. 26 voting at
a special election duly called and held for that'purpose.
This bond is transferable on ~he registration
books kept by the County of Butte by the registered owner or
agent duly authorized in writing, after which it shall be
registered in the name o~ the new owner, and both the principal
of and interest an ~his bond shall be payable only to the
register2d owner.
This bond is exchangeable at the expense of the
County of Butte at any time after the first payment of interest
hereunder, up.on 90 days' notice, for the paralle~ numbered
coupon bond, payable to bearer, which shall have attached
thereto coupons representing interest from the date to
which interest has been paid on this bond.
* This bond is given as evidence of a loan to
the County of Butte made by the United States of America pursuant
~to the Consolidated ~arm and Rural Development Ac~, and shall
be subject to the present regulations of the Farmers Home
Administration and to its future regulations not inconsistent
wi~h the express provisions hereof.
It is hereby certified, recited and declared that
all acts, conditions and things required by law to exist,
happen and to be performed precedent to and in the issuance of
this bond have existed, happened and been performed in due
time, form and manner as required by law, and that the amount
of this bond, together with a11 other indebtedness of Butte
County Service Area No. 26, does not exceed any limit prescribed
by the Constitution or statutes of the State of Ga~ifornia,
and that provision has been made as required by the statutes of
said State for the levy and collection of an annual tax on the
taxable property in said Area for the payment of the ~rincipal
of and interest on this bond as the same become due. This
bond and the interest hezeon are payable only from the
revenues derived from taxes levied and collected.upon the
taxable property within said Area, and the issue of bonds of
which this bond is one does not constitute a general obligation
or indebtedness of the County of Butte, and neither said
County nor any officer thereof is holden otherwise for the
payment thereof.
* To be printed only if the bonds are purchased b~ the
~nited States of America, Farmers Home Administration.
IN WITNESS WHEREOF, the Board of Supervisors of
Butte County has caused this bond to be signed by its
Chairman and countersigned hy its Clerk and its seal to be
hereto atfixed and this bond to be dated January 1, 1975.
[SEAI~] hairn-an o t e Boar of Supervisors
of Butte County
Countersigned:
Clerk of the Board of Supervi.sors
of Butte County
[Form o~ Registration Endorsement]
This bond has been initially registered on the
date first herein set forth in the name of the person first
herein set forth, and both the principal of and interest on
this bond are payable solely to such registered owner; provided
that this bond may be transferred on the registration books
kept by the County Treasurer of Sutte County by such registered
owner or agent duly authorized in writing or by any successor
registered owner, whereupon the prior registration noted hereon
shall be cancelled by said Treasurer and the name of the new
registered owner sha11 be inserted hereon, and thereafter bo~h
the p~incipal of and interest on this bond shall be payable solely
to such registered owner.
NOTE: There must be no writing in the space below except
by the County Treasurer of Butte County.
I3ame and Address of Signatuz~e of
Date of Registration Re istered Owner County Treasurer
10