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~: ~Oi INTY CAF BUTTE, STATE OF CALIFORNIA
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Resolufion No. 85-25
RESOLUTION OF THE BUTTE COUNTY BOARD OF SUPERVISORS
TRANSFERRING A PORTION OF THE PRIVATE ACTIVITY BOND
ALLOCATION OF THE COUNTY OF BUTTE
WHEREAS, pursuant to the Tax Reform Act of 1984 (Public
Law 98-369) and the Governor's Proclamation of July 19, 1984
implementing said Act, the County of Butte has received a private
activity bond allocation in the amount of $8,077,000 for the
calendar year 1985; and
WHEREAS, it is not expected that the County will utilize
the full amount of such allocation for the issuance ofi private
activity bonds during 1985; and
WHEREAS, the Proclamation permits the County to transfer
to the State of California or any other local agency all or any
portion of its private activity bond allocation in any calendar
year; and
WHEREAS, the County wishes to cooperate with its local
governments which may need allocation in 1985; and
WHEREAS, the county is willing to assist in the most
efficient and effective utilization of the allocation of 1985.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS
OF THE COUNTY OF BUTTE:
1. The County of Butte hereby transfers to the City
of Oroville the aggregate amount of $2,484,000 of the County's
private activity bond allocation for 1985 under the Act and the
Governor's Proclamation. Such allocation is being transferred
to the City of Oroville for the specific purpose of issuing private
activity bonds to The Lynn Family Partnership, Bellevue, Washington,
for the constrtuction of a 90-bed skilled nursing facility.
2. The County Clerk is hereby directed to immediately
transmit a certified copy of this resolution to the California
Debt Limit Allocation Committee with Report to Respect to Private
Activity Bonds.
3. This resolution shall take effect immediately upon
its passage.
The foregoing resolution was introduced at a regular
meeting of the Board of Supervisors of Butte County on the 5th
of March, 1985, and passed at said regular meeting by the following
vote:
AYES: Supervisors Dolan, McInturf, McLaughlin and Chairman Fulton
NOES: None
ABSENT' Supervisor Wheeler
NOT VOTING: None
The foregoing resolution is hereby approved.
FULTO Chairman
tte County Board of Supervisors
ATTEST:
MARTIN J. NICHOLS, Chief Administrative Officer
and Clerk of the Board of Supervisors
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REPORT OF ACTION TAKEN ~iITH
RESPECT TO PRIVATE ACTIVITY BONDS
CALIFORNIA DEBT LIMIT ALLOCATION C0~'~MITTEE
P.O. Box 1919
Sacramento, California 95809 '
(916) 324-2585
Please complete this form within 15 days of taking of any action
described below (in Section I.) and mail to the above address.
NAME OF ISSUER: County of Butte
ADDRESS: 25 Count Center Drive
Oroville, CA 95965 COUNTY: Butte County___ _.-_
CONTACT PERSON: Martin Nichols
TITLE: Chief Administrative Officer TELEPHONE: (916) 534-4224
DATE OF THIS REPORT: February 7, 1985
I. ACTION TAKEN: (Check one.)
.A) ISSUANCE OF BONDS (Complete Section iI. below.)
B) TRANSFER OF ALLOCATION X (Complete Section III. below.)
C) CARRYFORWARD ELECTION:
DATE ACTION TAKEN: February 26, 1985
PRINCIPAL AMOUNT: ~ 2 484 000.
NAME OF PRIVATE USER AND/OR DESCRIPTION OF PROJECT:
The L nn Famil Partnershi skilled nursin f
II .' FOR ISSf~ANCE OF BONDS:
SOURCE OF ALLOCATION: {Check one or more.)
ISSUER'S ALLOCATION FOR CURRENT YEAR
X TRANSFER (Name of ~7onor: Cit of Oroville )
CARRYFORWARD FROM PRIOR YEAR
III. FOR TRANSFER:
NAME OF GOVERNMENTAL UNIT TO WHOM
ALLOCATION WAS TRANSFERRED: Cit of Oroville
DESCRIBE ANY LIMITATIONS ON TRANSFER: The transfer allocation 's o
be used for the specific pro-iect "skille_d_ _r~ r "
located in Oroville, California, by company: CAREAGF (The Lynn
Family Partnership}. Transfer is limited to one calendar year.