HomeMy WebLinkAbout98-097.
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A RESOLUTION OF THE BOARD OF SUPERVISORS OF BUTTE COUNTY,
CALIFORNIA, AGREEING TO IMPOSE AD VALOREM PROPERTY TAXES TO
SECURE CHICO UNIFIED SCHOOL DISTRICT GENERAL OBLIGATION BONDS,
ELECTION OF 1998 SERIES A.
WHEREAS, a duly called special election was held in the Chico Unified School District,
Butte County, State of California {hereinafter referred to as the "District"}, on April 14, 1998 and
thereafter canvassed pursuant to law;
WHEREAS, at such election there was submitted to and approved by the requisite two-
thirds vote of the qualified electors of the District a question as to the issuance and sale of general
obligation bonds of the District for various purposes set forth in the ballot submitted to the voters, in
the maximum principal amount of $48.725,000 payable from the levy of an ad valorem tax against
the taxable property in the District;
WHEREAS, pursuant to such authorization by the voters, and Government Code Section
53506 et seq. (the "Act") the District has adopted a resolution authorizing the issuance of not to
exceed $20,000,000 of its General Obligation Bonds, Election of 1998, Series A (the "Bonds"},
WHEREAS, this Board of Supervisors desires to covenant and direct the Auditor-
Controller and Treasurer-Tax Collector of Butte County to levy and collect annually an ad valorem
property tax to secure the Bonds pursuant to the provisions of the Act;
WHEREAS, the District has represented that all acts, conditions and things required by law
to be done or performed have been done and performed in strict conformity with the laws authorizing
the issuance of general obligation bonds by the District;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS
OF BUTTE COUNTY, CALIFORNIA, AS FOLLOWS:
SECTION 1. Security for the Bonds. The Board hereby covenants and directs the
Auditor-Controller, on behalf of Butte County (the "County"), to levy on all the taxable property in
the District, in addition to all other taxes, a continuing direct ad valorem tax annually during the
period the Bonds are outstanding in an amount sufficient to pay the principal of and interest on the
Bonds when due, which monies when collected will be placed in the Debt Service Fund of the
District established by the District for the principal of and interest on the Bonds when and as the
same fall due.
SECTION 2. Resolution to Treasurer-Tax Collector and Auditor-Controller. The
Clerk of this Board is hereby directed to provide a certified copy of this Resolution to the Treasurer-
Tax Collector and the Auditor-Controller of the County immediately following its adoption.
SECTION 3. Effective Date. This Resolution shall take effect immediately upon its
passage.
The FOREGOING RESOLUTION was adopted at a regular meeting of the Board of
Supervisors held on June 23 , 1998 by the following vote:
AYES: Supervisors Beeler, Dolan, }roux, Josiassen and Chair Davis
NOES: None
ABSTAIN: None
EXCUSED: None
BUTTE COUNTY,((CALIFORNIA
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Chair, Board of Supervisors
Butte County
Attest:
JOHN S. BLACKLOCK, ChieL Administrative Officer
and Clerk of the Board of Supervisors
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Deputy Clerk, Board of Supervisors
8353.224027-OOQ