HomeMy WebLinkAbout80-216RESOLUTZQN N0. SO-216
RESOLUTZON ORDERING SALE OF BONDS
Sacramento Avenue Assessment Dist~ict No. 3.
The Board of Supervisors of the County of Butte resolves:
The Board accepts the offer of
STONE & YOUNGBERG
(attached to this resolution and by reference incorporated ~.n it},
to purchase a3.1 of ~he imp~ovement bonds ~a be ~ssued in Sacramento
Avenue Assessment Da.s~~ict ~Vo. 1, Butte County, California.
The Board directs the sale and delivery of ~he bands ta
the offeror in accordance wzth the te~ms and candi~ions stat~d in
the offer.
~ ~ ~
I HEREBY CERTIFY that the fo~'egaing resosution was duly and
regularly adopted by the Board of Supervisors of the County o~ Butte,
State of CaZiforn~a, at a. regular meeting ~h~reof, heT.d on the ~4th
day o~ October, 1980.
AYES : St~perv~sor5_ DQ.1.ar~, Wheelar, Wins~on anA ~ra_ _Qla; rman Mn~o] a,~„
NOES : Sup~rvisors None _ -_, , .. . ._. .....,,,,._~,....,.. ~ _ ,
ABSENT: Superviso~s ~~,~~a~ ~1Qn,~,~ _ _
CLARK A. NELS~N, Coun~y C1~rk,
Butte County, alifoxnia
B
0~~~~~~"~
STQNE 8z YOUNGBERG
MEMBERS: PACIFIC STOCK EXCHANGE
Qc~.ober ~.4, 1980
Board of Supervisors
Butte Coun~y
Court House
Oroville, California
R.E: Butte County
Sacramento Avenue AD ~~1
Membexs of ~he ~oard:
In accardanc~ with your deszxe to sell a11 0~
above proceedings, said bonds to finance cons
wi~hin the assessment district, we submit tl~e
OCT ~ 4 ~
Cw+k
~~a. ~~~~r ~
~ ~
~he improvement bonds from the
truct~on of drainage improvements
fo~lowfng proposal:
We agree ta purchase from B~tt2 County a11. of ~.he improvement bonds
to issue sub~ect ~o the fo~lowing candi~ions: .
1. The bonds shall be issued.pursuax~.t to the Municigal improvement
Act of 1913 and the Im~rovemen~ Ac~ of 191}..
2. The par value af bonds we purchase shal]. be $1,061.,243..9b, Ex-
cluded from our pu~chase are the bonds to issue against assess-
~nent numbers 89, 147 and 162.
3. The bonds sha11 be issued in bearer form, shall mature 1/15th each
• year January 2, 19$2 through January 2, 1996 znclusa.ve, and shall.
be callable pri.ox to maturity at 1Q5%.
~. ~he bonds sha1l bear interest a~. the rate of 10% per annum.
S. The purchase price o~ the bonds sha1l. l~e nS.nety--two percen~ of
the par.value p].us accrued interest. Z'his purchase grice shall
be paid when the bonds accompanied by the legal. opinion and non-
litiigation certificate are delivered ~o us by the Dzstrict.
6. The bonds sha~.~. be accompanied by the unqua].i.fied approving 1ega1
apini.on of Sturgis, Ness, Brunsell & Sperry, Emeryville, Cal~.fornia.
7. ~'he bonds shall. be dated November 3, 1980 and deli.vered to us for
payment on or l~efore Novem~er 28, 1.980.
$. All. othex provisions of issuance contained ~.n the Resolution of
Intentian are i.ncluded in and made a part of this bid.
Very ~ruly yours,
,~..'_ ..
( STONE & YOUNGBERG & - SOCIATES
~.~~ t :` . ~~ ~- F~~:' . . .! . ... .
i ( i~~ ;i.
Davi~~~Iart ey ~ ~
D~H:pw Partner
ONE CALEFORNlA STREET. SUI7E 2$00 • SAN FRANCISCO. CALIFORNIA 94l 11 •(415) 981-1314