HomeMy WebLinkAbout82-115s~v ~
RESOLUTIQN OF THE BOARD OF SUPERVISORS
OF TH~ C4UNTY OF BUTT~
AUTHORIZING THE SALE OF 1982
TAX AND REVENU~ ANTICFPATION NOTES
RE,SO~UT I ON NO . g~- ~ 1~
WHEREAS, thzs Board of Supervisars has heretofore
offered ior publa.c sa~.e Twelve Mi,l.lion Dollars ($12,DOp,pQO)
in principal amount o£ County o£ Butt~ 1982 Tax~ and Rev~nue
Anticipatian Notes (the "Nates"), in accordance with the
Notice Snvi~ing Bids an the Notes adopted June 29, ~982, and
WHEREAS, in response to such Notica Inviting Bids
this Baard of S~zpervi.sors ~eceived the fol.lowing proposals
for the Notes:
Name of Badder
Fi rst Inters~ate Ban[c of
PrsncipaZ Amoun~ Interes~
of Notes B~.d Upon Rate Premium
Ca~lfornia $72,OOQ,ODO 8.74 $lOD
Sanlc of America N.T. &S.A. 5,OOQ,000 8.82 287
5,00O,OOQ 8.84 287
2,000, 000 8. 86 115
Crocker National Bank 6,Q00,000 8.96 600
6,OOQ,000 8.99 600
NOW, THEREFORE, the Boaxc~ o~ Supervisors o£ ~h~
Coun,ty o~ Butte hereby finds, determin~s, declares and
resolves as follaws:
Sectioz~. 1. This Board of Supervisors hereby
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accepts those proposaZs hereinafter mentioned and awards the -
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Notes in the ~ollowirag principal amounts, in acco~dance with
the respective proposals, to wit:
(a) $~2~000.000 in principal a~oUnt of the
notes s~all be ~Wa~a~a to Firs~ Interstate Bank at the
principa~ amount thereof, p~us accrued inte~est therean at
the rate of 8.74s per annum, ~e~a~aT~~g~e~~~-e~~$l~-~-___-----,
p~us a premium of $100.00 .~n aecordance with said praposal,
t~~ Notes so awarded shall be number~d, sha11 be of the
denomination and shall bear inte~est (payable at ma~vrity)
as follows, ~o wi~:
Note Numbers
1-400
401-800
. Interest
Denomination Rate
~ 5,000 8.74
25,000 8.74
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Section 2, A1~ other pxoposals are rejected and
the Clerk of this Boaxd af Sup~rvisors is h~reby dzxected ta
return ta such bidders their checks accompanying ~h~ir
respective proposals.
Sectaon 3. The ter~s and conditions o£ the Nates
shal~ in al~ ~espects be the same as provided in R~solution
No. 82-I12 adopted by this Board o£ Superviso~s an June 29,
1982, including but not ~~mited to the provisians o~ said
Resolutzon regarding the estab~ishment o~ Pledged Revenues as
secur~ty for the Notes as provided in Sectian 5 0£ said
Resolu~ion.
Section 4. The Cle~k a~ thi~ Board of Supervisor~
~s directed to caus~ to be lzthographed, printed or engraved
a sufficient number of Notes, said notes to show on their
face that ~he same are numbered, are in the denomination and
bear interest at the ra~e~ aforesaid.
Section 5. The County Treasurer-Tax Co11~c~or or
one o~ more o£ hi~ deputies and ~he Clerk of this Board af
Supervisors are hereby authorized and d~xected ~o execute and
deliver the Notes to the successful purchasers thereof. All
actions hexe~ofore tak~n by ~he officers and agents of th~s
Board of Supervisor~ with ~~spect to this sale and issuance
of the Na~es ar~ h~reby approved, canfirmed and rati~ied and
the offic~~s of this Board o£ Supervisors are hereby '
authorized and directed, £o~ and in ~he name and an behalf v£ ~
this Board o~ S~perv~sors, to do any and a~l things and take.
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any and al~ ac~ions and execute any and all certifica~es,
agreemen~s and other documen~s which they, ar any o~ ~hem,
may d~em necessary ar advisable in ordex to consummate the
lawful issuance and delivery of the not~s in acco~dance with
thi~ resolution and r~solutions her~tafore adopt~d by this
~ Board of Supervisors.
Sectzon~6. The Of~zcial ~tatement, dated June 29,
1982, in fina~ form as submitted ~o this mee~ing is hereby
approved, and distribut~on here~ofore of said Official
Statement by ~he office~~ and agents of this Board of
Supervisors is hereby appxoved, confirmed and ratifi~d, but
subject to such additzans, s~pp~ements or addendums thereto
as the County Auditar-Controller may approve, after
consu~tatinn with the County's counsel, to reflect the sa~e
o~ the Notes ~-a-di-~e~~~ as provided in this resolution.
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PASSED AND ADdPTED by the Board o~ Sup~rvisors af
~he County a~ Butte thzs ~3th day o£ ~uly , 1g82, by th~
following vo~e:
AYES : Supervisors Moseley, Sat^aceni at~d V~ ce Chai r~man Do~ an
NOES : [~pp~
ABSENT: Superv7sors Fulton and Chairman 1~heeler
y~ ai person of th~ Board o~ Super isors
of the County o~ Bu~te
( Sea~. }
A~
rk of the oard o£ Supervisors
O~ t~'lE COl1I1't]1 p~ BLl'~~A
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CLERK'S CERTIFICATE
~,ELEANOR M. BECKER C1ex~k o£ the BOARD aF SUPERV~SORS OF
THE CDUNTY OF BUTTE, her~by certi~y as £o~laws:
The foregoa.ng is a fu~l, true and correct copy of a
reso~.ution du~y adopted at a regular mee~ing of the members
of the Baard o.~ Sup~rvisors of the County o£ Butte duly,
r~gularly and ~.egally h~1d at the gaa~^d o'f Su er iso
25 Count Cen~er Drive Orovil7e Californ7a ,
~~ Jc~T~ 13 , 1982, of which meeti.n.g a1.1 0~ said members had
due notice and at which a majori~y thereo£ weare presen~;
At said meet.ixag said resolu~ion was adopted by the
.~o~~.owi.ng vo~e:
A es: Members: 5up~rvisors Moseley, Saraceni and Vice Chairman Do7ar~
Naes: Membe~s: None
Absen~: Members: Supervisors Fulton and Chaif~man Wheeler
I hav'e carefully compared th~ foregaing with the
ori,gina~. minutes o£ sai~d meeting on ~ile and o~ recard in my
office, and the foregoang is a~ull, ~ru.e and cor~ect copy o£
the original re~olution adopted a~ said meeting and entexed
in said minutes;
Said or~.ga~nal resol~z~ion has not been, amended, modified
or rescinded since the da~e o~ its adoption, and the same is
now in ~uii force and effect.
Dated:
(Seal}
erk of tha Boa o£ Supervisors
of the Caunty o~ Butte
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