HomeMy WebLinkAbout77-011R850LUTION 77-11
COUI3TY OF BUTTE
BUTT~ COUNTY SERVICE AREA NO. 26
RESOLUTION AUTHOI2IZII3G EXCHANGE OF
BOI~TDS FOR BUTT~ COUNTY SERVZCE AREA
Nb. 26 1975 SEW~R SOND, SERIES C
WHE~tEAS, in accordance with prior proceedings du~y
had and taken, this Board of Supervisors of Butte County duiy
authorized the issuance, sale and delivery of the Butte Countx
Service Area No. 26 1975 Sewer Bond, Sezies C in ~he principal
amount of $89,OU0, anc3 said bond was executed and del.ivered to
the purchaser thereof on 5eptember 14, 1976, and is now out-
standing; and
WHEREAS, sa'id proceedings for said bond providec~ for
equal annual installments of principal and interest ~o become
due annually on January 1 in each of the years 1978 to 2015, both
inalusive; and
WIiEREAS, said proceedings contained a mathematical
error in that the amaunt of said equal annual installmen`ts ~a~s
calculated at $2,252.64, whereas the amount of said equal annual
instal~ments should correctly have been calaculated at $5,275.92;
and
WHEREAS, it is desizable to execute a new bond contain-
ing said correct mathematical calculation, and to exchange said
new bond for said outstanding bond;
NQW, THEREFORE, BE IT RESOLVED AND ORDERED by the
Board of Supervisors of tlze County af Butte, as fo7.].ows:
Section Z. This Board of Supervisors hereby authorizes
the preparation of a new bond contaa.ning said correct mathematical
calculation,in the form set forth i.n Resolution 1~To. 76-126 adopted
by this Board of Supervisors on July 27, I976, and the execution
and delivery of said new bond as in said Resolution No. 76-126
so provided in exchange for saa.d outsta.nding bond, which sha11 be
canceled.
Section 2. Except as in this resolution hereby expressly
otherwise provided, alI proceedings by this Board of Supervisors
for the authorization, issuance, sale and delivery of the Butte
County Service .~.rea No. 26 1975 Sewer Bond, Series C are hereby
reconfirmed, and adopted and approved.
PASSED AND ADOPTED ~anuary 25 , 1977, bY ttlte follow-
ing vote:
AXES: Supervisors Lemk.e, NFadigan, Moseley, Winston and Chairman Richter
NO~S: None
ABSENT: None
~„ ~Z~~~~%~',J --
Chairman of the Board of Supervisors
of the Countp of Butte
LSEAL]
ATTEST:
~.___ ` ~
Clerk o~ e oard o Supervisors
af t e County of Butte
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