HomeMy WebLinkAbout89-085.r ,
COUNTY OF BUTTE, CALIFpC~RNIA
RESOLUTION N0. 89-
RESOLUTION OF THE BOARD OF SUPERVISORS OF
THE COUNTY OF BUTTE, CALIFORNIA,
AUTHORIZING THE ISSUANCE OF TAB AND
REVENUE ANTICIPATION NOTES TO PAY 1989-90
OPERATING AND OTHER EBPENSES OF THE BUTTE
COMMUNITY COLLEGE DISTRICT, PROVIDING FOR
THE PAYMENT OF SUCH NOTES, AND MAKING
OTHER DETERMINATIONS IN CONNECTION
THEREWITH.
ae..; ~~z
WHEREAS pursuant to Article 7.6, Chapter 4, Part 1, Division
2, Title 5 of the Government Code of the State of California {the
"Code"}, the Butte Community College District (the "District"},
in the County of Butte (the "County"). California, is authorized
to borrow money to pay budgeted expenses, including current
aperating and other expenses and obligations, prior to the
receipt of certain anticipated moneys as authorized by Section
53852 of the Code, through the issuance in the name of the
District by the Board of Supervisors of the County (the "County
Board") of tax and revenue anticipation notes; and
WHEREAS, the District anticipates that such borrowing in a
principal amount not to exceed $3,500,000 will be required by the
District in order to pay such expenses prior to the receipt of
taxes, income, revenue, cash receipts and ather moneys by the
District anticipated to be received in its 1989-90 fiscal year,
and the District, acting through its Board of Trustees, has by
resolution {the "District Resolution") requested the County Board
to issue notes of the District for such purposes;
{1)
NOW, THEREFORE, BE TT
RESOLVED, BY THE BOARD OF SUPERVISORS OF THE COUNTY OF BUTTE by
the favorable vote of not less than a majority of all the members
of said Board, AS FOLLOWS:
Section 1. The County Board hereby authorizes the
issuance, in the name of the District, of Tax and Revenue
Anticipation Notes {the "Notes"} in a principal amount not to
exceed $3~,500,D00 to pay current operating and other expenses and
obligations of the District for the 1989-9D fiscal year in
anticipation of the receipt of revenues anticipated to be
received in such fiscal year. Said Notes shall be dated as of
their date of issuance and shall mature, without option of prior
redemption, not more than one year from their dated date. The
Notes shall be designated "Tax and Revenue Anticipation Notes-
1989/1990", shall be numbered consecutively from one {1} upwards,
and shall be in denominations of $5,000 or integral multiples
thereof. The Notes sha11 bear interest from their date, computed
on a 30-day month, 350-day year basis, at an interest rate not to
exceed the legal maximum rate of twelve per centum {12%) per
annum, in accordance with the Contract of Purchase (as
hereinafter defined). Both the principal of and interest on the
Notes shall be payable at maturity, upon the surrender thereof,
in lawful money of the United States of America, at Security
Pacific National Trust Company (New York), 2 Rector Street, New
York, New York (the "Paying Agent"}. Said Notes shall be issued
in bearer form without coupons, and shall not be registrable as
(2)
to either principal or interest, and shall be in substantially
the form attached hereto as Appendix A and hereby made a part
hereof .
Section 2. The Notes shall be issued in anticipation of
the receipt of unrestricted moneys to be received or accrued
during the District's 19$9-90 fiscal year, including taxes,
income, revenues, cash receipts, and other moneys intended as
receipts for the General Fund of the District and which are
generally available for the payment of current expenses and other
obligations of the District (the "Unrestricted Moneys"}.
Section 3. In the District Resolution, the District has
pledged to the payment of the principal of the Notes the certain
Unrestricted Moneys expected to be received as follows: the first
$1,750,000 thereof in January, 1990; the first $1,750,000 thereof
in April, 1990; and from the first $420,000 in June, 1990, the
amount sufficient to pay interest on the Notes {all of said
portions of the Unrestricted Moneys pledged to pay the principal
of and interest on the Notes hereinafter referred to as the
"Pledged Revenues"}. In the event Notes are issued in an
aggregate amount of less than $3,500,000, the amount of Pledged
Revenues designated in each month shall be reduced
proportionately. As of the date hereof, the District has not
received any of the Pledged Revenues hereinabove described, and
has not pledged any of said Pledged Revenues to the payment of
any other notes, bonds, certificates or other obligations of the
District. The principal of the Notes and the interest thereon
{3}
shall constitute a first lien and charge against the Pledged
Revenues and shall be payable from the first moneys received by
the District from such Pledged Revenues. All of said Pledged
Revenues as and when received shall be subject to such lien and
charge. Said Notes shall be general obligations of the District
and, to the extent not paid from the Pledged Revenues, shall be
paid with interest thereon from any other moneys of the District
lawfully available therefor. Each Note shall be secured by the
Pledged Revenues ratably according to the amount of principal and
interest due thereon.
Section 4. All Pledged Revenues as and when received and
any other lawfully available funds of the District as
appropriated or allocated for the payment of the Notes, shall be
deposited by the Treasurer-Tax Collector in a special fund to be
applied only to the payment of the Notes and the interest
thereon. Such fund is hereby established and designated: "Butte
Community College District Tax and Revenue Anticipation Note-
19B9/1990 Payment Fund" (the "Note Payment Fund" or the "Fund").
In the event that in any month the Unrestricted Moneys received
by the District are insufficient to permit the deposits into the
Note Payment Fund of the full amount of Pledged Revenues expected
to be received and deposited in such month, then the amount of
any deficiency in such deposits shall be satisfied and made up by
the last business day of such month, from any other moneys of the
District lawfully available for the payment of the Notes and
~4)
interest thereon. The Fund will be held by and maintained with
the Treasurer-Tax Collector of the County.
All Pledged Revenues and any other moneys deposited in the
Fund shall be held in trust for the benefit of the holders of the
Notes, and shall be applied only upon the maturity of the Notes
to pay the principal thereof and the interest thereon. Moneys
deposited in the Fund may not be used for any other purpose.
Moneys in the Fund, to the greatest extent possible, shall be
invested at the direction of the District by the Treasurer-Tax
Callector in investment securities permitted by applicable
California law, provided such investments mature at such times
and in such principal amounts as to permit the timely
disbursement from the Fund as herein provided.
All investment earnings 5ha11 be retained in the Fund, Any
of such investments and all investment income shall be considered
Pledged Revenues in the Fund. At such time when the amount in
the Fund is sufficient to pay all principal and interest on the
Notes at maturity, no further deposits therein, and any excesses
may, upon written request by the District, be withdrawn from the
Fund and applied by the District for any lawful purpose.
On the Business Day immediately preceding the maturity date
of the Notes, the Treasurer-Tax Collector shall, by wire transfer
or by such other means to permit the Paying Agent to have
received immediately available money by 3:Oa o'clock p.m.
4Prevailing Eastern Time) on such Business Day, transfer moneys
in the Fund to the Paying Agent. Business Day shall mean any day
(5)
that both the offices of the Treasurer-Tax Collector and the
Paying Agent are open for customary business. On the maturity
date of the Notes, the moneys in the Fund transferred to the
Paying Agent shall be used to pay the principal of and interest
on the Notes,
Section 5. The principal amount of the Notes, together
with the interest thereon, pursuant to Article 7.6, Chapter 4,
Part 1, Division 2, Title 5 of the Cade., does not exceed 85~ of
the estimated amount of the uncollected income, revenue, cash
receipts, and other moneys of the District which wi11 be
available for the payment of the principal of the Notes, and the
interest thereon.
Section 6. The proceeds of the Notes shall be deposited
in the District's General Fund, and may be expended for the
purposes for which the Unrestricted Moneys are to be received.
Section 7. The Notes shall be executed by the facsimile
signature of the Treasurer-Tax Collector of the County and shall
be countersigned by the facsimile signature of the Clerk of the
County Board, and the seal of the County shall be affixed,
imprinted, or otherwise reproduced an each of said Notes. The
Notes shall be manually authenticated by the Paying Agent.
Section 8. The Contract of Purchase ("Contract of
Purchase") for the Notes, in the farm attached hereto as Appendix
B and hereby made a part hereof, be and the same hereby is
approved. The Treasurer-Tax Collector, or designated deputy
thereof, is hereby authorized, after consultation with and at the
(5}
direction of the Superintendent of the District, or his designee,
to determine the amount of Notes to be sold, the interest rate,
the dates of issuance and maturity of the Notes, and to approve
the sale of the Notes to Ehrlich Bober & Co., Inc., the
Underwriter, on the terms and conditions set forth in the
Contract of Purchase, and is hereby authorized and directed to
execute the Contract of Purchase for and in the name of the
District with such changes, insertions and omissions as he may
approve, said execution being conclusive evidence of such
approval.
Section 9. It is hereby covenanted and warranted by the
County that all recitals and representations contained in this
resolution are true and correct, and that the County, acting
through its appropriate officers, has taken or will take all
steps necessary to be taken, for the District to be and remain
eligible to collect, and to collect the Pledged Revenues
described herein in the amounts and at the times anticipated in
accordance with all applicable laws and regulations, in order to
provide for the prompt payment of the Notes authorized herein and
to comply with the provisions of this resolution.
Section lD. This resolution shall take effect immediately.
(7)
Regularly passed and adopted this ~z day of 1989.
AYES and in favor of said resolution:
Supervisors: Supervisor Dolan
Supervisor McInturf
Supervisor Mc~aughlin
Supervisor Vercruse
Chairman Fulton
NOES and against said resolution:
Supervisors: None
Absent Supervisors: None
C xr of t e rd of Supervisors
County of Butte
State of California
ATTES ;
erk of the Board of Supervisors
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BOARD OF SUPERVISORS
- LEN 1=ULTbN, 5th District, Chairman
HASKEL A- MGINTURF, 1st District
JANE pOLAN, 2nd District
KAREN VERCRU51=, 3rd District
ED McLAUGHLIN, 4th District
June 6 }.989
Ca11 to order -- Board of Supervisors room.. County
Administration Building, 25 County Center Drive, oroville.
Supervisors Mclnturf, McLaughlin, Vercruse and Chairman Fulton
present. Supervisor Dolan not present. William H. Randolph,
chief administrative officer; Neil McCabe, deputy county
counsel; and Caral Roach, assistant clerk of the Board.
Pledge of allegiance to the- Flag of the United States- of-
America.
89-250 Items -removed from the Consent Agenda for Board considerati-on ~ - •~
and action.
1. Budget transfers -..action -requested - APPROVE BUDGET
TRANSFERS 8-191 (PERSONNEL),-B-].95~(SUPERIOR COURT), B-
196 (DU~?LICATING} , B""~-'~7 - {LIBRARY) ,-- ~ B--198 - - {PUBLIC
HEALTH), 8-199 (SUPERIOR COURT), B~-200 {AIR POLLUTION
CONTROL DISTRICT),- H-201 {DISTRICT ATTORNEY)., 8--202
(BUILDING INSPECTION), B-203 (MENTAL HEALTH-ALCOHOL), AND
$-204 (MENTAL HEAhTH-DRUG).
MOTION: MOVE TO APPROVE- THE. BUDGET TRANSFERS WITH 'THE
REMOVAL' OF B-203 {MENTAL HEALTH-ALCOHOL}-AND-B-204
(MENTAL HEALTH-DRUG)..
S M
VOTE : 1 Y 2 . AB- : 3 Y 4 Y 5 'Y (Unanimously Carried ). -- ~ : ~ :. --
2. Abandonment of a_.pnrtion of-Elm Avenue, Palermo .Citrus
Tract Addition No. 1, located 630-feet north of Ophir.
Raced, on both the east and west sides of Carmel Avenue,
property identified as AP ~ 36-28-60 and - 62; - -Palermo -- --
action. requested..-.. ADOPT: RESOLUTION SETTING A PUBLIC
HEARxNG FOR JULY 11, 19 8 9 AT 11~: 00 A . M .- -- - - .. .. --
Page ~Z55 -
June 5, 2989
June 6 1989
.. _.__.._ _.__ ----_-- MOTION: MOVE TO' ADOPT RESOLUTION 89-0$2 SETTING A PUBLIC
-- ----- ~ -- ~~-~--HEARING FOR JULY 11, 1989 AT 10:00 A.M.
S M .,
VOTE: l Y 2 AB 3 Y 4 Y 5 Y (Unanimously Carried}
......_ . .. ~ ~ { SUPERVTS.OR DOLAN PRESENT)
_ ..- __ W ..,.3... ._Safety retirement for prosecutors --- S$ 6~8 {Davis)
-~- _ ~- - - - ~ - ~ proposes to mandate safety retirement under PERS and the
1937 Act Retirement Systems which has historically been
-~- ~ - - -~--- - - ~~ reserved for police and fire employees who are involved
_ :.-_ .:. - _in emergency. response and, required to~-have a high level
_.. of phys~.cal fitness for the d~,strict attorney and deputy
district attorneys - action requested - AUTHORIZE THE
CHAIRMAN TO SIGN LETTERS IN OPPOSITION OF SB 54$ {DAVIS)
_._ __.-.. .__ TO STATE LLECTED~-OFFICIALS. - {HOLD FOR APPEARANCE OF
DISTRICT ATTORNEY)
4. Designation of the East Fork of the Carson River as Wild
- - -- -. - - - -- - : ,and- Scenic with no twelve._year w~,ndow._-_ the Alpine County
Board of supervisors has requested Board support of the
- - ~_. state's. designation - action requested.- AUTHORIZE THE
"" ---CHAIRMAN TO SIGN A LETTER IN SUPPORT OF THE DESIGNATION.
... -: :..:: - . ___ (NO' ACTION TAKEN) I58}
Consent Agenda
89-251 I.. Approval of minutes - action requested.- APPROVE MINUTES
OF MAY 16, 1989 AND MAY 23, 1989.
._ 2. Determination whether public necessity, health, safety
__ _ ... or. welfare require the formation of an underground
utility district on the Midway and Durham~Dayton Highwray
in the Durham area - action requested - ADOPT RESOLUTION
$9-4$3 SETTING A PUBLIC HEARING FOR JULY 11, 1989 AT
10:40 A.M.
3. County library donations - in accordance with Government
Code Section 25355, donations have been received for the
Butte County Library Trust of $250 from Melvin R.
Hoffman, 5950 from Chita Friends of the Library, $7.00
from Soroptimist International of Oroville, $7.00 from
American Legion Auxiliary, and for the purchase of books
51,004 from Paradise Friends of the Library and $200 from
Paradise Lodge #2960 - Ladies Auxiliary, Fraternal Order
of Eagles - action requested - ACCEPT DONATIONS AND
AUTHORIZE LETTERS OF APPRECIATION.
Page 156
June 6, 1989
t
-~ ~
June 6_, 1389
4. Appointment to Private .Industry Council - action
requested - REAPPOINT PAT ZINN (BUSINESS) TO SERVE UNTIL
JUNE 14, 1992.
5. Final Map - Lynn Hardy Subdivision - the developer has
provided a cash deposit to guarantee maintenance of
facilities for a period of one year commencing May 22,
1989 an the .six lot subdivision. AP 56-41-23, 24, 25,
26, 27 and 28, property located on both sides of Platt
Mountain Road, 700 feet east of Highway 32, Forest Ranch
area - action requested - APPROVE THE FINAL MAP, NOTE
THAT PLATT MOUNTAIN ROAD AS OFFERED FOR DEDICATION IS NOT
ACCEPTED AT THIS TIME, AND AUTHORIZE THE CHAIRMAN TO SIGN
THE SUBDIVISION AGREEMENT,
6 . Final Map - Pearman Court Subdivision -- the developer has
provided a Letter _of Credit and cash deposit to guarantee
construction of improvements within a one year period on
eight lots, AP 42-37-69, property located on the
northerly side of Linda Channel and the southwest side
of Alamo Avenue, Chico area - action requested - APPROVE
FINAL MAP; ACCEPT EASEMENTS .AS~GRANTED IN-ITEM 2 OF THE
OWNER'S STATEMENT ON BEHALF OF THE PUBLIC; ACCEPT GRANT -
IN FEE SIMPLE PEARMAN COURT-AND ALAMO AVENUE AS OFFERED
IN ITEM 1.OF THE OWNER`S STATEMENT;--AND AUTHORIZE. THE '.
CHAIRMAN TO SIGN THE-5UBDIVISTON AGREEMENT.
7. Magalia Reservoir Watershed/United States Forest Service
Land Exchange - action requested - APPROVE LETTER TO
PARADISE IRRIGATION DISTRrCT SUPPORTING EFFORTS TD
EXPLORE AND PURSUE THE RECOMMENDED LAND EXCHANGE OPTION.
$. Elbert L. Cunningham, Jr., Chico f~:les a claim in the
amount of :$5D,000 as a result of alleged injuries and
damagres sustained on ar about February 11, 1989 while
incarcerated in the Butte County jail - action __~-
requested - REJECT CLAIM AND REFER TO COUNTY COUNSEL AND
RISK MANAGEMENT,
9. David A. Offutt, attorney- at law, on behalf of. Chris-~
Garcia and Cotton Joseph Tidwell. - files a-claim in the
amount of $ZD0,000 as a result of alleged injuries and
damages sustained in an automobile accident an~~ar about-'
November 3. .1988 on Pennington Road, Gridley area -
action requested - REJECT--CLAIM AND REFER TO COUNTY
COUNSEL AND RISIt MANAGEMENT. __ ..
Page 157
June 6, 1989
__ June 6,1989
10. Distr~Vt attorney - Board authorization is requested to
-- - purchase ~-facsimile machine in the amount of $3,89fl.4~-
_-~~_.:. -. .. - . _.-.Budget. transfer B- -201 -has -been prepared to provide the.
necessary appropriation - action requested - AUTHORIZE
PURCHASE OF FIXED ASSET ITEM.
~. 11. Mental Health Department - Board authorization is
requested to purchase a small couch and recliner- for
_- __-- -_-__-._ --. hypnotherapy: in: the- -amount- af---$634: - The funds were
' ---- - ~ previously- .allocated in the budget for two desks which.
are na longer needed - action requested - AUTHORIZE
PURCHASE OF FIXED ASSET ITEMS.
.12. Public Health - Board authorization is requested to
... purchase a laser printer in the amount of $1,300. Budget
transfer B-198 has been prepared to provide the necessary
-- appropriation.- action requested - AUTHORIZE PURCHASE OF
FIXED ASSET ITEM.
- 13. Superior Court.:-_{Court Reporter budget) - Board
~----, --- authorization is requested for the purchase of four
workstations in the amount of $2,470 with existing fixed
:. asset_f.unds - action requested - AUTHORIZE PURCHASE OF
WFIXED ASSET ITEMS.
14. Superior Court -_Board authoriza.tion.is requested for the
-. -- ..._- . - ..purchase of ;two personal- computers . at a cost of $4 , 208
_.._:-: _ and two workstations- at a- cost of_ $1,245 with existing
1988/89 trial court funding - action requested -
AUTHORIZE PURCHASE OF FIXED ASSET. ITEMS.
. _ -_ _ ___ _- . 15. Mental- .Health {Drug -budget) - ~-- -Board authorization is
requested far the purchase of . a microcomputer and related
. _ peripheral -equipment. and saf tware, a VCR, and a
television in the estimated amount of $4.636.44. Budget
transfer B-284.has been prepared to provide the necessary
appropriation - action requested - AUTHORIZE PURCHASE OF
FIXED ASSTS.
16. Tax and Revenue Anticipation Nate Issues for 1989-90 -
resolutians have been prepared authorizing the maximum
issuance of $4,450,000 for the County and $3,500.000 far
Butte Community College - action requested - ADOPT
RESOLUTIONS 89-884 and 89-085 AND AUTHORIZE THE CHAIRMAN
TO SIGN.
17. North County Municipal Court - the Clerk of the Court
requests relief from accountability pursuant to
Government Cade Section 25257 for delinquent fines in the
amount of $70,059.75 - action requested - APPROVE RELIEF
FROM ACCOUNTABILITY.
Page 158 June 6, 1989
,dune 5 1989
18. Salary ordinance amendment - reclassification of account
clerk position in the Sheriff's Department to senior
account clerk - action requested - WAIVE THE SECOND
READING AND ADOPT ORDINANCE 2751.
19. Salary ordinance amendment - Trial Court Funding
implementation - an ordinance has been prepared
implementing various new positions and x-eclassi~ications
far fiscal year 1989/90 - action requested - WAIVE THE
FIRST READING OF THE ORDINANCE.
20. Salary ardinance amendment -- the Public Health Department
has requested the establishment of two health education
assistant I/xI positions and one typist clerk I,II, III
for the passenger safety program, which is 100 percent
State funded - action requested - WAIVE THE FIRST READING
OF THE ORDINANCE.
21. Salary ardinance amendment - the Building Inspection
Department proposes to use restricted fee revenue to add
two building inspector II ,positions and. a typist-.clerk
. I position, and ~ purchase . -associated equipment- . of --two . .: .
sedans with two-way radios -and a desit, -chair ~and _ --
typewriter - action_requested_-_WAIVE THE FIRST~~READING~=~~ ---~.
OF THE ORDINANCE AND_ APPROVE THE PURCHASE OF FIXED
ASSETS.
22. County Victim/Witness Assistance.-Program - a resolution
has been prepared continu~:ng funding of Joint Powers
money by the State Board of Control to the Butte County
Victim/Witness Assistance Program far verification of
victim claims during fiscal year 1989/90- - ADOPT .
RESOLUTION 89-086 AUTHORIZING THE CHIEF PROBATION OFFICER
TO S IGN THE AGREEMENT ON BEHALF OF THE COUNTY . ~ - ~ -- - - - -- --
23. County Victim/Witness Assistance Program - a resolution
has been prepared - continuing-~- -funding- -~ ~-of-- .- the~•-
Victim/Witness Program by the office of Criminal 3ustice
Planning - action requested --..ADOPT .RESOLUTION 89-087
AUTHORIZING THE CHIEF PROBATION. OFFICER TO SUBMIT
APPLICATION. -
24. Mileage of maintained "County xoads - in-accordancewith
Section 2121 of the.. Streets and' Highways Code, a
resolution has been prepared- verifying _.to. California_
Department of Transportation the current maintained
mileage of County roads -of 1,378.59 miles - action
requested - ADOPT. RESOLUTION 89-088 -AND AUTHORIZE THE
CHAIRMAN TO SIGN.
Page-155
3une 6, 1989
June.. 6. 1.989
25. Federal Challenge Grant Funds - the County is eligible
..
- __-__.__ _ ..___ _ - - to _ teas-ive- ~$15; 408= -from the- federal government {publ~.c. .
law 98473} for fiscal year 1989/90 at no cast to the
County to enhance local. child abuse prevention efforts -
-~- -- _-- -~ ~ - -action requested- - AUTHORIZE THE -CHAIRMAN TO EXECUTE THE- ,
_. _~- __-__.__. _. W._ APPLICATIONS/ASSURANCES- FORM,. AND-.AUTHORIZE THE AUDITOR
_ _ ___-__ _ __ __ ._ TO__ES.TABLISH..A -FEDERAL CHALLENGE =GRANTS- FUNDS BUDGET .UNIT
_... - .... - . ___ - -_-...- T - WITHIN THE WELFARE DEPARTMENT..
~- 26. AB 2372 {Hannigan) - allocates penalties on delinquent
property taxes to all taxing agencies resulting ~.n
__._ -. ___~_.._ _ .... ap.pr.oximaGtely _. $400., OOA to Butte.. .County - action
- requested.- AUTHORIZE THE~CHAIRMAN TO SIGN LETTERS IN
SUPPORT OF AS 2372 {HANNIGAN?.
.- - .-~27..W SB -895_..-.(Vuic1~) - provides _ that'commencing •].990/91 an
additional share of existing property taxes to the County
' --~- based on. "non-county cost shortfall"~ calculation to help
~~ - cover the-~ County --cost of assessing ~- collecting and
_~ ~ _ allocating= property taxes. -Preliminary calculations
--- - ~ - - - ~i:ndicate $500, Q00~ tom- $x.;000, 000' -additional revenue to
_ - . -.-_ _:- .Butte County -- action-requested -AUTHORIZE THE CHAIRMAN
-TO SIGN LETTERS IN SUPPORT 4F SB 895 {VUiGH}.
- ~ ~ 2$. Advanced-..step<hiring -the-South-County Municipal Court
--. - - - _. -- . _ .. quested --the-_ hir.ing._ of .- a deputy court cleric II at
has =_ re
__- _.._ . _.--:- -- w step :~ °E." -_o£--- the salary.. _range... - .-action requested -
- ~ ~_ - - AUTHORIZS~ ADVANCED STiSP HIRING .
- I~40TION:. MOVE TO APPROVE=THE CONSENT AGENDA WITH REMOVAL OF
ITEM3 3'.02, 3.04, 3.28 AND 3.31. -
' S M
-.- VOTE:-_ _ 1 Y .2 Y 3 Y..._ 4 Y-.,~ 5 Y- (Unanimously Carried?
Re~ular_AQ~nda
89-252 Appointments - commissions and committees.
a. Appointments to committee vacancies. {104) {NONE)
b. South Paradise Advisory Committee for a General Plan
Amendment establishing an urban reserve - the Planning
Commission requests the establishment of a citizens
advisory committee consisting of not less than five, nor
more than nine members, who are property owners in the
affected area to advise the. Commission on the development
of urban reserve policies for the South Paradise area -
action requested - ESTABLISH COMMITTEE. {1,31}
7~lE F~EGC~fNG lMSTRUMENf !S A CORRi=C~a~'Y~
Tf-ff ORiGlNRL ON FILE ANE3 GF RfCQRD !ice! ti-Il C)F~ iCiW
AT7~5T D~iT!_1 '~~~ ~" ~ ~~~~
;Cd~vEc Qf fhs ~oarrS o~ 5u~en•isors
~t~3+1 . f1ftO~S ; i„ end for':;f;e Ca_mt~r of Butte
- `;- of California. .
p~ Df~PUiY
June b, 1989
CLERK OF THE BOARD'S CERTIFICATE
I, WILLIAM H. RANDOLPH, Clerk of the Board of Supervisors of the
County of Butte, State of California, HEREBY CERTIFY that the foregoing
annexed extract from the minutes of a meeting of the Board of
Supervisors of said county duly called and held on June 6, 1989 has been
compared by me with the original minutes as officially recorded in my
office in the minute book of said Board of Supervisors and zs a true,
complete and correct copy thereof and of the whole of said original
minutes so far as the same relate to the subject matters referred to in
said extract. _..
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
seal of said County this 6th day of June, 1989.
~ , + `f ~~
C1,erk, Board of Supervisors
APPENDIX A
FORM 0~' NOTE
No. United States of America $
State of California
BUTTE COMMUNITY COLLEGE DISTRICT
TAg AND REVENUE ANTICIPATION NOTE-19B9/1990
FOR VALUE RECEIVED, the Butte Community College District {the
"District"}, duly created and existing under the laws of the
State of California, promises to pay to the bearer hereof, the
Sum of
DDLLARS {$ }
on the 6th day of July, 1990, together with interest thereon from
the date hereof at the rate of
per centum { ~}
per annum, payable at maturity. Both principal of and interest
on this Note will be paid in lawful money of the United States of
America, upon surrender of this Note at Security Pacific National
Trust Company (New York}, 2 Rector Street, in New York, New York,
Attn: Corporate Trust Division (the "Paying Agent"}.
This Note is one of an authorized issue of $3,800,000, the
Notes of which are of like tenor except as to number, and is
issued pursuant to Article 7.6, Chapter 4, Part I, Division 2,
Title 5 of the Government Code of the State of California, and a
resolution duly adopted by the Board of Supervisors of the County
of Butte on May 16, 1989 (the "Resolution"}.
(1}
Payment of the principal of and interest on this Note is
secured by a pledge of unrestricted moneys expected to be
received by the District including taxes, income, revenue, cash
receipts, and other moneys intended as receipts for the General
Fund of the District and which are generally available for the
payment of current operating and other expenses and obligations
of the District during its 1989-90 fiscal year (the "Unrestricted
Moneys"). The District has pledged to the payment of the
principal of the Notes the certain Unrestricted Moneys expected
to be received as follows: the first $1,750,000 thereof in
January, 1990; the first $1,750,000 thereof in April, 2990; and
from the first $420,000 in June, 1990, the amount sufficient to
pay interest on the Notes; all as more particularly described in
the Resolution. The Notes and the interest thereon shall be a
first lien and charge against, and shall be payable from, the
first moneys received by the District from said pledged moneys.
The Notes are general obligations of the District, and, to the
extent not paid from said pledged moneys, the Notes shall be paid
with interest thereon from any other moneys of the District
lawfully available therefor,
This Note is not subject to call or redemption prior to
maturity.
This Note shall not be valid or become obligatory for any
purpose until the Certificate of Authentication hereon shall have
been duly executed by the Paying Agent.
(2?
This Note has been designated by the District as a "qualified
tax-exempt obligation" pursuant to Section 265 of the Internal
Revenue Code of 1986, as amended.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts,
conditions and things required by law to exist, happen and be
performed precedent to and in the issuance of this Note have
existed, happened and been performed in due time, form and manner
as required by law, and that the amount of this Note, together
with all other indebtedness of the District, does not exceed any
debt limit prescribed by the laws or Constitution of the State of
California.
IN WITNESS WHEREOF, the~County of Butte, California, has
caused this Note to be signed by the facsimile signature of its
Treasurer-Tax Collector and countersigned by the facsimile
signature of its Clerk of the Board of Supervisors and its
corporate seal {or a facsimile thereof), to be printed, engraved,
stamped or otherwise placed hereon and has caused this Note to be
dated the 5th day of July, 1989.
{Facsimile Seal)
(Facsimile Signature)
Countersigned: Treasurer-Tax Collector
of the County of Butte, California
(Facsimile Signature)
Clerk of the Board of Supervisors
of the County of Butte, California
(3)
CERTIFICATE QF AUTHENTICATION
It is hereby certified that this Note is one of the duly
authorized issue of Notes referred to herein.
SECURITY PACIFIC NATIONAL TRUST COMPANY {NEW YORK)
Paying Agent
By
Authorized Signature
{~)
COUNTY OF BUTTE, CALTFORNTA
Tax and Revenue Anticipation Notes-1989/1990
of Butte Community College District
CONTRACT OF PURCHASE
Oroville, California
Mr. Dick Puelicher June 15, 1989
Treasurer-Tax Collector
County of Butte
25 County Center Drive
Oroville, California 95965
Dear Mr. Puelicher;
The undersigned (the "Underwriter") offers to enter into
this agreement with the County of Butte, California (the
"County"} which, upon the County's acceptance hereof, will be
binding upon the County and upon the Underwriter. This offer is
made subject to the written acceptance of this Contract of
Purchase by the County and the delivery of such acceptance to the
Underwriter at or prior to X4:00 o'clock P.M. California time, on
the date hereof.
1. Upon the terms and conditions and upon the basis of
the representations and warranties hereinafter set forth, the
Underwriter hereby purchases from the County for reoffering to
the public, and the County hereby sells to the Underwriter for
such purpose, all (but not less than all} of $ {or such
lesser amount as shall actually be issued in accordance with the
provisions of the resolution as hereinafter defined), principal
amount of Butte Community College District (the "District") Tax
and Revenue Anticipation Notes--1989/1990 dated July 6, 1989 and
due July 6, 1990 (the "Notes") bearing interest at the rate of
per centum { ~) per annum, at a
purchase price of $ plus accrued z merest, if any, from
July 6, 1989, to the date of the Closing (as hereinafter
defined).
2. The Notes shall be as described in the Resolution
adopted by the Board of Supervisors of the County on May 16,
1989, authorizing the issuance of the Notes (the "Resolution"),
and shall be issued under the provisions of the Constitution and
laws of the State of California {the "State").
3. At the time of or before the County's acceptance
hereof, the District shall deliver to the Underwriter an Official
(1}
Statement of the District, dated June 15, 1989, relating to the
Notes (which, together with all appendices thereto and with such
changes therein and supplements thereto which are consented to in
writing by the Underwriter, is herein called the "Official
Statement"), in a form satisfactory to the Underwriter and duly
executed by the District. The District has authorized the use
and reproduction of the Official Statement in connection with the
offering and sale of the Notes by the Underwriter. The District
also has approved of the use and reproduction by the Underwriter
prior to the date of the Official Statement of a Preliminary
Official Statement of the District relating to the Notes (which,
together with all appendices thereto, is herein called the
"Preliminary Official Statement"} in connection with the offering
of the Notes.
4. The Underwriter agrees to make a bona fide public
offering of all the Notes at the initial public offering price as
set forth on the cover page of the Official Statement.
Subsequent to such initial public offering, the Underwriter
reserves the right to change the public offering price as it may
deem necessary in connection with the marketing of the Notes,
5. At 10:00 o'clock A.M., New York City time, on July
6, 1989, or at such other time or on such later business day as
shall have been mutually agreed upon by the County and the
Underwriter (the "Closing"}, the County will deliver to the
Underwriter at the offices of Ehrlich Bober & Co., Inc., 101 Park
Avenue, New York, New York, or at such other place as the County
and the Underwriter may mutually agree upon, the Notes in
definitive form duly executed, together with the other documents
hereinafter mentioned; and the Underwriter will accept such
delivery and pay the purchase price as set forth in paragraph 1
hereof by check or wire in "Federal Reserve Funds" (same day
funds) to the order of the District. The Notes will be made
available in Los Angeles, California or New York, New York for
checking and packaging and will be delivered to the Underwriter
in escrow at least one business day prior to the Closing.
6. The County represents and warrants to the
Underwriter that:
{A} The County is validly existing under the laws of the
State, including the State Constitution, with right and power
to sell the Notes as of the date hereof and to hereafter
issue the Notes and to execute, deliver and perform its
obligations under this Contract of Purchase and the
Resolution.
(B} (i} At or prior to the Closing, the County will have
taken all action required to be taken by it to authorize the
issuance and delivery of the Notes and the performance of its
(2}
obligations under the Resolution, (ii) the County has, and at
the date of the Closing will continue to have, full legal
right, power and authority to enter into this Contract of
Purchase and, at the date of the Closing, will have full
legal right, power and authority to issue and deliver the
Notes to the Underwriter and to perform its obligations as
provided in the Resolution and this Contract of Purchase; at
or prior to the Closing, the execution and delivery of, and
the performance by the County of its obligations contained in
this Contract of Purchase shall have been duly authorized;
(iii} this Contract of Purchase has been duly executed and
delivered and constitutes a valid and legally binding
obligation of the County; and {iv) the County has duly
authorized the consummation by it of all transactions
contemplated by this Contract of Purchase.
(C} The County agrees that it will not issue any
additional notes on behalf of the District secured by a
pledge of the revenues pledged to pay the Notes.
(D) There are no present conditions or determinations of
which the County is aware which will prevent the receipt of
and application by the County or the District of the revenues
pledged to pay the Notes.
{E} The issuance of the NOteS, the execution, delivery
and performance of this Contract of Purchase, the performance
of the County's obligations under the Resolution and
compliance with the provisions hereof and thereof by the
County, do not and will not conflict with or constitute on
the part of the County a breach of, or a default under, any
existing law, ordinance, regulation, decree, order or
resolution, or (to the best knowledge of the County. after
due investigation} any agreement, indenture, mortgage, lease
or other instrument, to which the County is subject or by
which it is bound.
{E) All authorizations, consents or approvals of, or
filings or registrations, if any, with any Governmental
Authority or court necessary for the valid issuance by the
County of, and performance by the District o€ its obligations
under, the Notes will have been duly obtained or made prior
to the issuance of the Notes (and disclosed to the
Underwriter}. As used herein, the term "Governmental
Authority" refers to any legislative body or governmental
official, department, commission, board, bureau, agency,
instrumentality, body or public benefit corporation.
(G} As of the time of acceptance hereof and as of the
Closing, no action, suit, proceeding or investigation is
pending or {to the best knowledge of the County) threatened
(3}
against the County or {to the best knowledge of the County.
no independent investigation having been made) any other
person in any court or before any Governmental Authority
seeking to restrain or enjoin the issuance or delivery of any
of the Notes or in any way contesting yr affecting the
validity of the Resolution, the Notes, this Contract of
Purchase, or the receipt or application of the revenues
pledged to pay the Notes or the payment of principal of and
interest on the Notes, ar contesting the powers of the County
to issue the Notes.
{H} A copy of the Resolution has been delivered to the
Underwriter and such Resolution will not be amended without
the consent of the Underwriter which consent will not be
unreasonably withheld.
7. The Underwriter has entered into this Contract of
Purchase in reliance upon the representations and warranties of
the County contained herein, the Resolution, and the performance
by the County of its obligations hereunder, as of the date hereof
and as of the date of the Closing. The Underwriter's obligations
under this Contract of Purchase are and shall be subject to the
following further conditions as of the Closing:
(A) The representations and warranties of the County
contained herein shall not be materially inaccurate at the
date hereof and at and as of the Closing, as if made at and
as of the Closing; and the County shall be in compliance with
each of the agreements made by it in this Contract of
Purchase (unless such agreements are waived by the
Underwriter}.
(B) At the time of the Closing this Contract of Purchase
shall be in full force and effect; the Resolution and this
Contract of Purchase shall not have been amended, modified or
supplemented except as may have been agreed to in writing by
the Underwriter; all actions which, in the opinion of
Hawkins, Delafield & Wood, New York, New York, Bond Counsel
to the District, (the "Bond Counsel"}, shall be necessary in
connection with the transactions contemplated hereby shall
have been duly taken and shall be in full force and effect;
and the County shall perform or have performed all of its
obligations required under or specified in the Resolution or
this Contract of Purchase to be performed at or prior to the
Closing.
(C) The provisions of law governing the payment of the
revenues pledged to pay the Notes shall be in full force and
effect and shall not have been amended in any respect that
would materially adversely affect the prospects that such
revenues will be received in the amounts and by the
(4)
respective dates indicated in the Resolution and the Official
Statement.
(D} Except as disclosed in the Official Statement, no
decision, ruling or finding shall have been entered by any
court or Governmental Authority since the date of this
Contract of Purchase {and not reversed on appeal or otherwise
set aside) {i} which has any of the effects described in
Section 6{G), or {ii} which declares this Contract of
Purchase to be invalid ar unenforceable in whole or in
material part.
(E} In recognition of the desire of the County and the
Underwriter to effect a successful public offering of the
Notes, and in view of the potential adverse impact of any of
the following events on a public offering, the Underwriter
shall have the right to cancel its obligations to acquire the
Notes, by written notice from the Underwriter to the County,
if between the date hereof and the Closing: (i) the Official
Statement shall have been amended, modified or supplemented
without the consent in writing of the Underwriter, unless
such consent was unreasonably witheld or iii) any event shall
occur which, in the reasonable professional judgment of the
Underwriter, makes untrue any statement of a material fact
set forth in the Official Statement or results in an omission
to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they
are made, not misleading; or {iii) the market for the Notes
or the ability of the Underwriter to enforce contracts for
the sale of the Notes shall have been materially and
adversely affected, in the reasonable professional judgment
of the Underwriter, by {a) legislation enacted by the
Congress of the United States, or passed by either House of
the Congress, or recommended to the Congress for passage by
the President of the United States, or favorably reported for
passage to either House of the Congress by a committee of
such House to which such legislation has been referred for
consideration, or a decision rendered by a court of the
United States or by the United States Tax Court, or a ruling,
order, official statement, or regulation (final, temporary or
proposed) made by the Treasury Department of the United
States or the Internal Revenue Service, with respect to
Federal taxation upon interest received on obligations of the
general character of the Notes or which would have the effect
of changing, directly or indirectly, the Federal income tax
consequences of interest on obligations of the general
character of the Notes in the hands of the holders thereof,
or (b} any new outbreak of hostilities or other national or
international calamity or crisis or an event of fiscal
default by a city, municipality, district or authority
located in the State, the effect of such outbreak, calamity,
(5)
crisis or default being such as would cause a major
disruption in the municipal bond market, or (c) a general
suspension of trading on the New York Stock Exchange, or
fixing of minimum or maximum prices for trading or maximum
ranges for prices for securities on the New York Stack
Exchange, whether by virtue of a determination by that
Exchange or by order of the Securities and Exchange
Commission or any other governmental authority having
jurisdiction, or (d} a general banking moratorium declared by
either Federal or State authorities having jurisdiction, or
(e) any action, suit, proceding or investigation described in
Section 6(G} hereof or any decision described in Section 7(D)
hereof, or (f} any default by the County, the District, the
State or by any state public benefit corporation or other
city or state governmental agency (except an industrial
development agency} existing under the laws of California.
(F) At or prior to the Closing, the Underwriter shall
receive the following documents each dated on and as of the
date of the Closing;
(1} Unqualified approving opinion of Bond Counsel,
as to the validity and tax-exempt status of the Notes.
{2) An opinion of the County Counsel,
substantially in the form attached hereto as Exhibit B.
(3) A certificate of the Superintendent of the
District, or his designee, substantially in the form
attached hereto as Exhibit C.
(g} An Arbitrage and Use of Proceeds Certificate,
satisfactory in form and substance to Bond Counsel.
(S} Customary Signature and No Litigation
Certificates executed by applicable officers of the
County and the District.
(6) Evidence that any rating on the Notes
heretofore obtained has not been changed or withdrawn,
(7) Such additional legal opinions, certificates,
proceedings, instruments and other documents as the
Underwriter or Band Counsel may reasonably request to
evidence compliance by the County and the District with
legal requirements, the accuracy, as of the time of
Closing, of the County's representations herein
contained and the due performance or satisfaction by the
County and the District at or prior to such time of all
agreements then to be performed and all conditions then
to be satisfied by the County and the District.
(6}
if the County shall be unable to satisfy the conditions
to the Underwriter's obligations contained in this Contract of
Purchase or if the Underwriter's obligations shall be terminated
for any reason permitted by this Contract of Purchase, this
Contract of Purchase shall terminate and neither the County nor
the Underwriter shall have any further obligation hereunder,
except that the obligations of the Underwriter and the District,
to pay certain expenses as provided in Section 9 herein shall
continue in full force and effect.
8. The performance by the County of its obligations is
conditioned upon (i} the performance by the Underwriter of its
obligations hereunder; and (ii) receipt by the County and the
Underwriter of opinions and certificates required to be delivered
at the Closing.
9. (a) Whether or not the Notes are issued as
contemplated by this Contract of Purchase, neither the County nor
the Underwriter shall be under any obligation to pay, and the
District shall pay, all expenses incident to the performance of
the County's and District's obligations, including, but not
limited to (i) the fees and disbursements of the accountants,
financial advisers and any other experts, consultants or advisers
to the District and retained on such basis by the District; and
{ii) any other expenses and costs of the County and the District
incident to the performance of their obligations in connection
with the authorization, issuance and sale of the Notes to the
Underwriter.
(b) The Underwriter shall pay (i) the cost of
preparation and reproduction of this Contract of Purchase, the
Preliminary Official Statement and the final Official Statement,
and the cost of printing the Notes; {ii} fees of the California
Debt Advisory Commission, the Paying Agent, and of any rating
agencies rating the Notes; (iii) the fees and disbursements of
Bond Counsel; and (iv) other expenses incurred by it in
connection with the offering and distribution of the Notes.
10. Any notice or other communication to be given to
the County under this Contract of Purchase may be given by
delivering the same in writing to the County Treasurer-Tax
Collector, or to such other person as he may designate in
writing, and to Hawkins, Delafield & Wood, 57 Wall Street, New
York, New York, or at such other address or to such other firm as
the County shall hereafter advise the Underwriter in writing, and
any notice or other communication to be given to the Underwriter
under this Contract of Purchase (other than the acceptance hereof
as specified in the first paragraph hereof) may be given by
delivering the same in writing to Ehrlich Bober & Co., Inc.,
12424 Wilshire Boulevard, Suite 1400, Los Angeles, California
90025, Attention: Investment Banking Division.
(7)
11. This Contract of Purchase when accepted by the
County in writing as heretofore specified shall constitute the
entire agreement between the County and the Underwriter and is
made solely for the benefit of the County and the Underwriter
(including the successors or assigns of the Underwriter?. No
other person shall acquire or have any right hereunder or by
virtue hereof.
12. This Contract of Purchase may be executed
simultaneously in several counterparts each of which shall be an
original and all of which shall constitute but one and the same
instrument.
13. This Contract shall be construed and enforceable in
accordance with the laws of the State of California.
Very truly yours,
EHRLICH BOBER & CO., INC.
By
Underwriter
Accepted;
County of Butte
By
Treasurer-Tax Collector
EBHIBIT A
to the
Contract of Purchase
(Letterhead of County Counsel)
July 6, 19$9
Honorable Board of Supervisors
County of Butte
25 County Center Drive
Oroville, California
Ehrlich Bober & Co,, Inc.
401 Wilshire Boulevard
Suite 1250
Santa Monica. California
Dear Gentlemen:
Reference is made to a Contract of Purchase dated June
15, 1989 {"Contract of Purchase"), between the County of $utte,
California {the "County") and Ehrlich Bober & Co., Inc., for the
Notes of Butte Community College District, in connection with
which you have requested my opinion as to the matters set forth
below. All terms used herein have the definitions set forth in
the Contract of Purchase.
I have examined such portions of the Constitution of the
United States of America, the Constitution and Statutes of the
State of California {the "State") and such applicable court
decisions as I deemed necessary or relevant for purposes of the
opinions set forth below, and made such further inquiries and
investigations as I•deemed necessary or appropriate for purposes
of such opinions. Based on the foregoing, I advise you that in
my opinion:
1. There is no litigation of any nature pending or
threatened to restrain or enjoin the issuance, sale,
execution or delivery of the Contract of Purchase, the Notes
or any of the proceedings taken with respect to the issuance
and sale of the Notes, the application of moneys to the
payment of the Notes or in any manner questioning the
proceedings and authority under which the Notes were
authorized or affecting the validity of the Notes, the
existence or boundaries of the County or the title of
officials of the County who have acted with respect to the
proceedings for the issuance and sale of the Notes to their
respective offices, and no authority or proceedings for the
issuance and sale of the Notes have been repealed. revoked or
rescinded;
2. The issuance of the Notes and the execution,
delivery and performance of the Contract of Purchase, do not
and will not conflict with or constitute on the part of the
County a breach of, or a default under any agreement,
indenture, mortgage, lease or other instrument, to which the
County is subject or by which it is bound.
Very truly yours,
E%HIBIT B
to the
Contract of Purchase
CERTIFICATE OF THE
SUPERINTENDENT-PRESIDENT OF THE BUTTE COMMUNITY COLLEGE DISTRICT,
IN THE COUNTY OF BUTTE
Superintendent-President of Butte
Community College District, County of Butte, California (the
"District"), hereby certify on behalf of the District as fO110W5:
1. I am the official of the District having overall
responsibility for the financial operations of the District.
2, The District's Official Statement, dated June 15,
1989, (the "Official Statement"} relating to the sale of
$ of the District's Tax and Revenue Anticipation
Notes-1989/1990 (the "Notes"}, delivered pursuant to the
Contract of Purchase, dated June 15, 1989 between the
District and the Underwriter {the "Contract of Purchase"}
(excluding from such Official Statement the "Prices" on the
cover page and the information under the caption
"Underwriting"} as of the date hereof does not contain any
untrue statement of a material fact or omit any statement of
a material fact necessary to make the statements therein, in
the light of the circumstances under which they were made,
not misleading.
3. The Notes being delivered on the date hereof to the
Underwriter under the Contract of Purchase and the sources of
payment thereof conform to the descriptions thereof contained
in the District's Official Statement delivered to such
Underwriter,
4. There has been no material adverse change in the
financial condition or results of operatians of the District
from the date of the Official Statement to the date hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 6th
day of July, 1989.
BUTTE COMMUNITY COLLEGE DISTRICT
By
Superintendent-President