HomeMy WebLinkAbout86-169Resolufion No. 86-169
RESOLUTION DETERMINING TO LEASE EQUIPMENT, APPROVING
THE FORM OF AND AUTHORIZING'THE EXECUTION AND DELIVERY
OF AN EQUIPMENT LEASE AND AGREEMENT IN CONNECTION
WTTH THE LEASE FINANCING AND AUTHORIZING
EXECUTION OF NECESSARY CERTIFICATES
~PHEREAS, the County of Butte, a political subdivision
duly organized and existing under and by virtue of the
Constitution and laws of the State of California (the "County"),
has lull legal right, power and authority to enter into a lease
financing for equipment as the County may determine is necessary
or proper for County purposes; and
WHEREAS, Security Pacific Merchant Banking Group, a
division of Security Pacific National Bank, a national banking
association duly organized and existing under the laws of the
IInited States of America (the "Corporation"), desires to provide
for such equipment Tease financing;
WHEREAS, the Board of Supervisors hereby determines
that it would be in the best interest of the County and the
residents of the County for the Corporation and the County to
proceed with such financing by entering into an Equipment Lease
and Agreement (herein called the "Lease") to lease "Equipment"
firom the Corporation and obtain the use of the "Project" as such
terms are defined in said Lease;
WHEREAS, under the Lease the County would be obligated`
to make base rental payments to the Corporation for the lease of
the project;
WHEREAS, this Board has been presented with the form of
the Lease, and the Board has examined and approved each document
and desires to authorize and direct the execution of the Lease
and the consummation of the financing;
WHEREAS, all acts, conditions and things required by
the Constitution and laws of the State of California to exist, to
have happened and to have been performed precedent to and in
connection with the consummation of the financing authorized
hereby do exist, have happened and have been performed in regular
and due time, form and manner as required by law, and the County
is now duly authorized and empowered, pursuant to each and every
requirement of law, to consummate such financing for the purpose.,
in the manner and upon the terms herein provided;
NOW, THEREFORE, BE IT RESOLVED by the Board of
Supervisors of the County of Butte, as follows:
Section 1. All of the above recitals are true and
correct, and this Board of Supervisors sa finds and determines.
Section 2, The County hereby specifically finds and
declares that the statements, findings and determinations of the
County set forth in the preambles of the Lease are true and
correct.
Section 3. The form of Equipment Lease and Agreement
for the Project, dated as of December 1, 1986, between the County
and the Corporation, presented to this meeting and on file with
the Clerk of the Board of Supervisors, is hereby approved and the
Chairman of the Board of Supervisors and the Clerk of the Board
of Supervisors are hereby authorized and directed, for and in the
name and on behalf of the County, to execute, acknowledge and
deliver to said Corporation said Lease in substantially said
form, with such changes therein as such officers may require or
approve, such approval to be conclusively evidenced by the
execution and delivery thereof, and the Clerk of the Board of
Supervisors is hereby authorized and directed to attest the
signature of the Chairman of the Board of Supervisors, and to
affix and attest the seal of the County, as may be required or
appropriate in connection with the execution and delivery of said
Lease.
Section d. 'The officers of the County are hereby
authorized and directed, jointly and severally, to da any and all
things and to execute and deliver any and all documents which
they may deem necessary or advisable in order to carry out, give
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effect to and comply with the terms and intent of this resolution
and said Lease, and all such actions heretofore taken by such
officers are hereby ratified, confirmed and approved.
Section 5. This resolution shall take effect
immediately upon its passage.
PASSED AND ADOPTED by the Butte County Board of
Supervisors this 16th day of December 1986, by the
following vote:
AYES: Supervisors Dolan, Fulton, McInturf, Wheeler and Chairman McLaughlin
NOES: None
ABSENT: None
NOT VOTING: None
C t
ED c UGH h rman of t~ie~
Butte County Board of Supervisors
ATTEST:
MARTIN J. NICHOLS,
Chief Administrative Officer
and Clerk of the Board
By~--~Ce~~~~P~v~, ~, ~,_
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