HomeMy WebLinkAbout1979-04-26 - Resolution No. 79-24YORBA LINDA COUNTY WATER DISTRICT
RESOLUTION NO. 79- 24
•
RESOLUTION SELLING $1,005,000 PRINCIPAL
AMOUNT OF YORBA LINDA COUNTY WATER
DISTRICT IMPROVEMENT DISTRICT NO. 2 1979
WATER BONDS, SERIES A, AND RATIFYING
OFFICIAL STATEMENT
WHEREAS, the Board of Directors (the "Board")
of Yorba Linda County Water District (the "District") by
Resolution No. 79-13 and Resolution No. 79-14, both adopted
April 5, 1979, (collectively, the "Resolution") duly author-
ized the issuance of $1,005,000 principal amount of bonds
designated as "Yorba Linda County Water District Improvement
District No. 2 1979 Water Bonds, Series A" (the "Bonds") of
the District, for the benefit of Improvement District No. 2
of the District (the "Improvement District"), all dated May
1, 1979, and by said Resolution No. 79-14 duly authorized
the sale of the Bonds at public sale; and
WHEREAS, the sale of the Bonds has been duly
held
in
the manner prescribed
by
law,
and the following
bids
for
the
Bonds were and are
the
only
bids received by
the
District:
f ~ •
•
Net Interest
Name of Bidder Cost to District
Rank of Amerlcd N T & A $1,220,199.10
and Associates
and
WHEREAS, the bid of Bank of America N T & S A
and Associates
is the highest bid for the Bonds, considering the inter-
est rates specified and the premium bid;
NOW, THEREFORE, BE IT RESOLVED by the Board of
Directors of Yorba Linda County Water District as follows:
1. Said bid of Bank of America N T & S A
and Associates
for $1,005,000 principal amount of the Bonds is hereby
accepted and the Auditor of the District is hereby author-
ized and directed to deliver the Bonds to said purchaser
thereof upon payment to said Auditor of the purchase price,
namely, said par value thereof and a premium of $53.40 ,
together with accrued interest at the following rates:
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0
Bonds Maturing
(Inclusive)
1982 -
1991
1992
1993 -
1995
1996 -
2000
2001 -
2004
•
Interest Rate
Per Annum
8.00
6.75
6.80
6.90
7. 00
The Bonds shall bear interest at said rates
hereinabove set forth, payable semiannually on November 1
and May 1 in each year.
2. All bids except the bid of Bank of America
N T & S A and Associates
are hereby rejected, and the Secretary of the District is
hereby directed to return to the unsuccessful bidders their
several checks accompanying their respective bids.
3. The Secretary of the District is directed
to cause to be lithographed, printed or engraved a suffi-
cient number of blank Bonds and coupons of suitable quality,
said Bonds and coupons to show on their face that the same
bear interest at the rates aforesaid, and to cause the blank
spaces therein to be filled in to comply with the provisions
of the Resolution, and to procure their execution by the
proper officers, and to deliver them when so executed to the
Auditor of the District. The Auditor of the District shall
deliver said Bonds to the purchaser or purchasers thereof
upon the receipt of the purchase price.
The President of the Board and the Secretary,
Auditor and General Manager. of the District are further
authorized and directed to make, execute and deliver to the
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purchaser of the Bonds (a) a certificate in the form custom-
arily required by purchasers of bonds of public corporations
generally, certifying- to the genuineness and due execution
of the Bonds and further certifying to all facts within
their knowledge relative to any litigation which may or
might affect the District, the Improvement District, said
officers or the Bonds, (b) a certificate in similar form
certifying to all facts within their knowledge which would
make it unreasonable to rely on the official statement of
the District in connection with the resale of the Bonds, and
(c) a receipt in the form customarily required by purchasers
of bonds of public corporations, evidencing the payment of
the purchase price of the Bonds, which receipt shall be
conclusive evidence that said purchase price has been paid
and has been received by the District. Any purchaser or
subsequent taker or holder of the Bonds is hereby authorized
to rely upon and shall be justified in relying upon any such
certificate or receipt with respect to the Bonds executed
pursuant to the authority of the Resolution. Such officers
and any other officers of the District or of the Board are
hereby authorized to execute any and all other documents
required to consummate the sale and delivery of the Bonds.
4. A final form of official statement of the
District relating to said Bonds having been submitted by
Stone & Youngberg Municipal Financing Consultants, Inc.,
financing consultant
to the District,
the
Board hereby
approves said official
statement in the
form
submitted and
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directs the Secretary to file said form of official state-
ment with the minutes of this meeting. Said financing
consultant has heretofore mailed such official statement to
prospective bidders for said Bonds. Such mailing is hereby
ratified, confirmed and approved.
PASSED AND ADOPTED this 26th day of April, 1979,
by the following vote:
AYES: Directors Lindow, Clodt, Korn, Cromwell and Knauft
NOES: None
ABSENT: None
ABSTAIN: None
President ~-d the Bo rd 'of Directors
of Yorba Linda County Water District
[SEAL]
ATTEST:
Secre ry o ) orba Linda County
Wate District
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SECRETARY'S CERTIFICATE
I, Jean E. Mathews, Secretary of Yorba Linda County
Water District, hereby certify that the foregoing is a full,
true and correct copy of a resolution duly adopted at
a regular meeting of the Board of Directors of said District
-duly and regularly held at the regular meeting place thereof
on April 26, 1979, of which meeting all of the members of
said Board had due notice and at which a majority thereof
was present; and that at said meeting said resolution was
adopted by the following vote:
AYES: Directors Lindow, Clodt, Korn, Cromwell and Knauft
NOES: None
ABSTAIN: None
ABSENT: None
I further certify that I have carefully compared the
same with the original resolution on file and of record in
my office; that the foregoing is a full, true and correct
copy of said original resolution adopted at said meeting;
and that the foregoing has not been amended, modified or
rescinded since the date of its adoption, and is now in full
force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand and af-
fixed the official seal of said District on April 26 , 1979.
Secretary o Yorba Linda County
Water District
[SEAL]
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