HomeMy WebLinkAbout20-140WHEREAS, the County desires to finance an approximately 10,840 square foot single story evidence storage and
morgue building, including, but not limited to, the design amdconsLruct|omofanovidemcestomageronn4mmrguefed|ity
laboratories, evidence handling areas, vehicle ports, office space, conference areas, lobby and reception areas, parking
areas, and appurtenant work including grading, paving, landscaping, and fencing, and all other components necessary or
desirable in connection with this structure (the "Project");
WHEREAS, in, order tmfinance the Project the County proposes to execute and deliver Financing Lease (the
"Financing Lease") with the California Infrastructure and Economic Development Bank (the "|Bamk"\and aSite Lease (the
"Site Lease°)with |Bank,each dated asofOctober 1,2O2Q; and
WHEREAS, there is on file with the Board the proposed forms of Financing Lease and Site Lease.
NOW, THEREFORE, BEURESOLVED that the Butte County Board ofSupervisors hereby:
Section 1. Finds and declares that financing nfthe Project isimthe best interests ofthe County.
Section2. Authorizes and approves the execution and delivery of the Financing Lease in an amount not to exceed
$12,000,000 and the interest with respect to which, shall be 2.50% per annum, and shall terminate, subject to the terms
mfthe Financing Lease, not later than August 1,20,50. The obligation topay the Base Rental Payments under the Financing
Lease shall not constitute an obligation of the County for which the County is obligated to levy or pledge any form of
taxation mrfor which the County has levied orpledged any form oftaxation.
Section 3. Approves the proposed forms ofthe Financing Lease and the Site Lea,se, each by and between the
County and |8ank,onfile with the Clerk ofthe Board nfSupervisors. The Chief Administrative Officer orhis designee (the
"Authorized 0epneyemtetUve") is hereby authorized and directed, or any such officer's designee, for and on behalf ofthe
County, tuexecute and deliver the Financing Lease and the Site Lease, subotantiaUyinthe form mmfile with the Clerk of
the Board of Supervisors, with such changes therein, deletions, therefrom and additions thereto assuch Authorized
Representative shall approve, such approval to be conclusively evidenced by the execution and delivery of the Financing
Lease and the Site Leese.
Section 4. Finds that in accordance with Government Code Section 5852.1, U\ the True Interest Cost of the
Financing Lease is expected to be approximately 2.96%, (ii) the total Finance Charge of the Financing Lease isexpected to
be $746.699 ' (iii) the total proceeds expected to be received by the Cmumty from the Financing Lease, less the Finance
Charge is $11,253,301, and (iv) the County expects that the Total Payment Amount calculated to the final term of the
Financing Lease, will be $17,986,694.
Section S. Authorizes and directs the Authorized Representative of the County, or such officer's designee, to do
any and all things, and execute and deliver any and all documents which they or any of them deem necessary or advisable
in order to consummate the transactions contemplated by this Resolution, the Financing Lease and the Site Lease and
otherwise to carry out, give effect to and comply with the terms and intent of this Resolution, the Financing Lease and the
Site Lease.
vote
Section b. Determines this Resolution shall take effect from and after its date of adoption.
PASSED AND ADOPTED by the Butte County Board of Supervisors this 27 th day of October, 2020, by the following
AYES: Supervisors Connelly, Lucero, Ritter, Teeter, and Chair Lambert
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
M6ximo A. Pickett, Chief Administrative Officer
and Clerk of the Board of Supervisors
By: zi�l
Deputy
Steve Lambeair
Butte County Board of Supervisors