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HomeMy WebLinkAbout1984-04-19 - Resolution No. 84-07r I YORBA LINDA COUNTY WATER DISTRICT RESOLUTION NO. 84Z'7 RESOLUTION SELLING $10,000,000 PRINCIPAL AMOUNT OF YORBA LINDA COUNTY WATER DIS- TRICT IMPROVEMENT DISTRICT NO. 2 1979 WATER BONDS, SERIES B WHEREAS, the Board of Directors (the "Board") of Yorba Linda County Water District (the "District") by Resolution No. 84-05 and Resolution No. 84-06 both adopted April 19, 1984 (collectively, the "Resolution") duly authorized the issuance of $10,000,000 principal amount of bonds designated as "Yorba Linda County Water District Improvement District No. 2 1979 Water Bonds, Series B" (the "Bonds") of the Dis- trict, for the benefit of improvement District No. 2 of the District (the "Improvement District"), all dated May 1, 1984; and WHEREAS, the District has heretofore negotiated the sale of the Bonds to Bank of America National Trust and Savings Association and said purchaser has submitted to this Board a purchase contract for the Bonds; NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of Yorba Linda County Water District as follows: 1. The written offer of Bank of America National Trust and Savings Association for the purchase of $10,000,000 principal amount of the Bonds is hereby accepted and the Auditor and paying agent of the District are hereby authorized and directed to deliver the Bonds to said purchaser upon payment to the Auditor of the purchase price set forth in the Purchase Contract, together with accrued interest, if any, at the following rates: Interest Rate Bonds Maturing Per Annum 1986 7.00 1987 7.50 1988 8.00 1989 8.50 1990 8.75 1991 9.00 1992 9.25 1993 9.50 1994 9.75 2004 10.25 The Bonds shall bear interest at said rates hereinabove set forth, payable semiannually on November 1 and May 1 in each year. 2. The Special Bond Counsel of the District is directed to cause to be lithographed, printed or engraved a sufficient number of blank Bonds of suitable quality, 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 paying agent of the District. The paying agent of the District shall deliver said Bonds to the purchaser thereof upon the receipt of the purchase price. 3. 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 purchaser of the Bonds (a) a certificate in the form -2- e 0 0 customarily 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 contained in the official statement of the District prepared in connection with the resale of the Bonds, and (c) a receipt in the form customarily required by purchasers of bonds of public corpo- rations, 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 owner 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 Reso- lution. 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. -3- ■ 0 0 4. In accordance with Section 53541 of the Government Code providing for the issuance of the Bonds, $10,000,000 of the authorized, but unissued, 1979 Water Bonds are hereby ordered cancelled. PASSED AND ADOPTED this 19th day of April, 1984, by the following vote: AYES: Directors Paul Armstrong, Fred Clodt, Whit Cromwell Howard Lindow, M. Roy Knauft, Jr. NOES: None ABSENT: None ABSTAIN: None President Of/ the Board f Difectors of Yorba Linda County Water District [SEAL] ATTEST/ : Secrikary of Yorba Linda County Water District -4- SECRETARY'S CERTIFICATE I, Ralph Shook, 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 an adjourned regular meeting of the Board of Directors of said District duly and regularly held at the regular meeting place thereof on April 19, 1984, 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 Paul Armstrong, Fred Clodt, Whit Cromwell, Howard Lindow, M. Roy Knauft, Jr. 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 WITNES WHEREOF, I have hereunto set my hand and affixed the official seal of said District on April 19, 1984. Greta of Yorba Linda County Water District [SEAL] -5-