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HomeMy WebLinkAbout20-138T r - 1 • ',, � � �Y r". �M �, ' �M M � �Y. IIS Ih • ■ ' 4 �, YYY ■ �I • a w {r WHEREAS, the Thermalito Union Elementary School District (the "District") is a school district located within the County of Butte (the "County") State of California (the "State"), and is organized and operating pursuant to the Constitution and lags of the State; and WHEREAS, an election was duly and regularly held in the District (the "District") on November 6, 2018, in accordance with Section 1(b)(3) of Article XIIIA of the California Constitution, for the purpose of submitting Measure Z (the "Bond Measure") to the qualified electors of the District, authorizing the issuance of general obligation bonds in the aggregate principal amount of $4,500,000, and more than the requisite 55% of votes cast were in favor of the Bond Measure; and WHEREAS, pursuant to Article 4.5 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code ("the Bond Law"), general obligation bonds are authorized to be issued by the District for the purposes set forth in the ballot submitted to voters in the Bond Measurer and WHEREAS, pursuant to the Bond Measure and the Bond Law, on February 26, 2019, the District issued its General Obligation Bonds Election of 2018,.Series A, in the aggregate principal, amount of $2,500,000; and WHEREAS, the Board of Supervisors of the County (the "Board") has received a copy of Resolution No. 20-21-05, adopted by the Board of Trustees of the District on September 10, 2020 (the "'District Resolution"), authorizing the issuance of a second series of bonds pursuant to the Bond Measure in an aggregate principal amount not -to -exceed $2,000,000 to be designated the "Thermalito Union Elementary School District General Obligation Bonds Election of 2018, Series B" (the "Bonds"); and WHEREAS, pursuant to the District Resolution, the District has formally requested to have the Auditor -Controller of the County (the "Auditor -Controller") levy act valorem taxes in an amount sufficient to pay the principal of and interest on the Bond's when due, and to place on all subsequent tax rolls, taxes sufficient to fulfill the requirements of the debt service schedule for the Bonds that will be provided to the Auditor -Controller and Treasurer -Tax Collector of the County (the "Treasurer") by the District following the sale of the Bonds; NOW, THEREFORE, IT IS HEREBY RESOLVED by the Board of Supervisors of the County ofButte asfollows: Section 1. Issuance of Bonds. This Board authorizes the District to issue and sell the Bonds enits own behalf under the Authorization, imone nrmore series ofbonds, and inthe maximum principal amount mf$Z/OUQ/3O0 without further action by this Board. Section 2. Levy and Collection of Tax for Payment of Bonds. This Board authorizes the levy and collection, onall taxable property imthe County situated within the District, during the period when any Vfthe Bonds are outstanding, ad valorem taxes in an amount sufficient to pay the principal of and interest on the Bonds when due. Such taxes, when collected, shall be paid into the County Treasury pursuant to Section, 15251 of the Education Code. Section 3. Preparation of Tax Roll. The Auditor -Controller is further authorized and directed to maintain on its upcoming tax roll, and all subsequent tax rolls until the Bonds are paid in accordance with their terms, taxes in an amount not less than sufficient to fulfill the requirements of the debt service schedule for the Bonds. Section, 4. Coordination with District on Tax Levy. The Board of Trustees of the District has requested this Board to establish an annual reserve for the purpose of avoiding fluctuating tax levies, as permitted under California Education Code Section 15250. This Board hereby authorizes the office of the Auditor-Controll:er to coordinate with the Assistant Superintendent, Business Services, of the District regarding the rate of the taxes to be levied. Section 5. Other Actions. The Chair of the Board, the Clerk of the Board, the County Auditor -Controller, the County Counsel, and the Treasurer and the deputies and designees of such officers, are hereby authorized and directed toexecute and deliver any and all certificates, representations nragreements asmay beacceptable toCounty Counsel, and which, are deemed necessary and desirable to accomplish the transactions authorized herein or to otherwise comply with the terms of this Resolution. Such actions heretofore taken by such officers, officials orstaff are hereby ratified, confirmed and approved. vote: Section 6. Effective Date, This Resolution shall take effect immediately upon its passage. PASSED AND ADOPTED bvthe Butte County Board ofSupervisors this 13 1»day ofOctober, 2O2Obythe following AYES: Supervisors Connelly, Lmcero,Ritter, and Chair Lambert NOES: None ABSENT: Supervisor Teeter ABSTAIN: Nome ATTEST Andy Pickett, Chief Administrative Officer and Clerk ofthe Board mfSupervisors Steve Lamberl�dair Butte County Board of Supervisors