HomeMy WebLinkAbout21-007WHEREAS, the issuance of not to exceed $61,000,000 aggregate principal amount of general obligation bonds
(the "Authorization") of Paradise Unified School District (the "District"), County of Butte (the "County"), State of California
was authorized at an election (the "Election") held in said District on November 6, 2018, the proceeds of which are to be
used for the financing ofthe acquisition, construction, equipping, furnishing and improvement nfcertain capital facilities
of the District (the "Project"); and
WHEREAS, the Butte Couinty Registrar of Voters has certified to the effect that the official canvass of returns for
the Election reflected that 55% or more of the votes cast on the District's bond measure submitted to the voters at the
Election (the °Measure") were cast imfavor ofthe Measure, and such result has been entered |nthe minutes ofthe Board
ofTrustees ufthe District (the "8oard"\; and
WHEREAS, no general obligation bonds have been issued under the Authorization, such that $61,800,000
aggregate principal amount of general obligation bonds of the District remain for issuance under the Authorization; and
WHEREAS, Sections 53506 et seq. of the California Government Code, i'ncluding Section 53508.7 thereof, provide
that a school district may issue and sell bonds on its nvvm behalf pursuant to Sections 15140 or 15146 of the California
Education Code; and
WHEREAS, Section 15140(b) of the California Education Code provides that the board of supervisors of a county
may authorize a school district over which the cmunity superintendent of schools of such county has jurisdiiction to issue
and sell its own bonds without the further action of the board of supervisors or officers of the county ifsaid school district
has not received aqualified ornegative certification ioits most recent interim report; and,
WHEREAS, the Board has heretofore adopted, and filed with the 0erk of the Board of Supervisorsofthe[mumty
/the "Board of Supervisors"), a naon|uiiom, as amended by that certain resolution (together, the "District Reuo|utinn")
providing for the issuance and sale ofits Paradise Unified School District (County ofButte, Cm0form[e)General Obligation
Bonds, 2018 Election, 2021 Series (the "Bonds"), in one or more series, with appropriate additional or other series
designations, in an aggregate pdmcipaU amount not exceeding $10,0,00,800, pursuant to Sections 53506 etseq. of the
California Government Code; and
WHEREAS, the District, through the District Resolution, has requested that the Board of Supervisors authorize the
District to issue and sell the proposed, Bonds on its own behalf pursuant to Sections, 25140 and 15146 of the California
Education Code, as permitted bySection 53508.7 of the California Government Code, and the terms setforthinthe District
Resolution, and has represented and warranted to the County that it has not received a qualified ornegative certification
in its most recent interim report; and
WHEREAS, the Board of Supervisors has been formally requested by the District to levy taxes in an amount
sufficient to pay the principal of and interest on the Bonds when due, and to direct the Auditor-Controiler of the County
(the "Auditor -Controller") to maintain on its tax roll, and all subsequent tax rolls, taxes sufficient to fulfill the requirements
of the debt service schedules for the Bonds that will be provided to the Auditor Controller by the District following the
sale of the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors as follows:
Section 1. Recitals. That all of the above recitals are true and correct.
Section 2. Consent and Authorization of Sale. The Board of Supervisors hereby consents to and authorizes the
issuance and sale by the District on its own behalf of the Bonds, pursuant to Sections 15140 and 15146 of the California
Education Code, as permitted by Section 53508.7(c) of the California Government Code, and the terms set forth in the
District Resolution. This authorization shall only apply to the Bonds.
Section 3. Approval of Actions. Officers of the Board of Supervisors and County officials and staff, including, but
not limited to, the Treasurer -Tax Collector, Auditor -Controller and the Clerk of the Board of Supervisors, and their
respective designees, are authorized to do any and all things and are hereby authorized and directed, jointly and severally,
to execute and deliver any and all documents which they may deem necessary or advisable in order to assist the District
with the issuance of the Bonds, including but not limited to, the levy of taxes annually in an amount sufficient to pay the
principal and interest coming due on the Bonds. Such actions heretofore taken by such officers, officials and staff of the
County are hereby ratified, confirmed and approved.
Section 4. Preparation of Tax Roll. The Auditor -Controller is hereby directed to place on its tax roll, and all
subsequent tax rolls until the Bonds are paid in accordance with their terms, taxes in an amount sufficient to fulfill the
requirements of the debt service schedules for the Bonds, which will be provided to the Auditor -Controller and Treasurer -
Tax Collector by the District following the sale of the Bonds.
Section S. Indemnification of County. The County acknowledges and relies upon the fact that the District
Resolution provides that the District shall indemnify the County, its officers, agents and employees against any and all
losses, claims, actions, suits, judgments, demands, damages, liabilities and expenses (including attorney fees and costs of
investigation) of any nature arising out of any action or inaction of the District with respect to the issuance of the Bonds.
Section 6. Limited Responsibility for Official Statement. Neither the Board of Supervisors nor any officer of the
County has prepared or reviewed the official statement of the District describing the Bonds ("Official Statement"), and
the Board of Supervisors and the various officers of the County take no responsibility for the contents or distribution
thereof; provided, however, that solely with respect to a section contained, or to be contained, therein describing the
County's investment policy, current portfolio holdings, and valuation procedures, as they may relate to funds of the District
held by the Treasurer -Tax Collector, the Treasurer -Tax Collector is hereby authorized and directed to prepare and review
such information for inclusion in the District's Official Statement and in a Preliminary Official Statement prepared in
connection with the issuance and sale of the Bonds.
Section T. Limited Liability. Notwithstanding anything to the contrary contained herein, in the Bonds or in any
other document mentioned herein, neither the County nor the Board of Supervisors shall have any liability hereunder or
by reason hereof or in connection with the transactions contemplated hereby and the Bonds shall be payable solely from
the ad valorem property taxes of the District available therefore as set forth in the District Resolution and herein.
Section 8. Other Actions. The Choir of the Bmamd�, the Clerk of the Board, the County Auditor -Controller, the
County Counsel, the Treasurer, and the deputies and designees ofsuch officers, are hemab�vauthohzed and directed to
execute and deliver any and all certificates, representations or agreements as may be acceptable to County 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 or staff are hereby ratified, confirmed
and approved.
Section9. This Resolution shall take effect immediately upon its passage.
ADOPTED AND APPROVED omthis 12 thday ofJanuary, 202lbwthe Board nfSupervisors ofthe County ofButte,
California, bwthe following vote:
AYES: Supervisor Lucem, Ritter, 0mmelshue,Teeter, and Chair Connelly
NOES: None
ABSTAIN: None
Bill Connelly, Chair F/
Butte County Board of Supervisors
ATTEST:
Andy Pickett, Chief Administrative Officer
and Clerk ofthe Board ofSupervisors