HomeMy WebLinkAboutResolution 1992 - 0073RESOLUTION NO.92-73
RESOLUTION OF COUNTY SANiTATION DISTRICT NOS.1,2,
3,5,6,7 AND 11 OF ORANGE COUNTY,CALIFORNIA,
AUThORIZING FUTURE EXPENDiTURES TO BE
REIMBURSED FROM FUTURE LONG-TERM FINANCINGS
WHEREAS,each of the County Sanitation District Nos.1,2,3,5,6,7 and 11 of Orange
County (each,a “District”)has undertaken a capital program to finance ongoing and future costs related
to the design,planning,acquisition and construction of improvements to its interests in joint treatment
facilities and trunk sewers (more fully described on Attachment A hereto)(with respect to each District,
the “Project”);and
WHEREAS,each District is beginning to make expenditures with respect to costs of its
Project;and
WHIEREAS,each District intends to make arrangements to provide long-term financing
for costs of its Project,which financing may be structured so as to bear interest which is excluded from
gross income for Federal income tax purposes;and
WhEREAS,each District has not yet finalized the arrangements for such long-term
financing for its Project,but is proceeding with its Project at this time by expending other funds from
sources other than long-term debt on a temporary basis with the intention that such amounts be
reimbursed to the maximum extent permitted by law and prudent in the judgment of such District and
desires to confirm its intentions with respect to any such expenditures hereinafter incurred;
NOW,THEREFORE,BE iT RESOLVED that:
SEC11ON 1:Each District intends that expenditures made by or on behalf of it with
respect to costs of its Project from and after the date of adoption of this resolution,together with such
preliminary expenditures (as defined in Treas.Reg.§1.103-18(i)(2)(ii))as have previously been paid
by such District with respect to its Project,are to be financed with the proceeds received by such
District from such long-term financing arrangements as ultimately are finalized by such District with
respect to its Project.
SECTION 2:Expenditures made on an interim basis from other funds by or on behalf
of any District with respect to costs of such District’s Project prior to the consummation of such long-
term financing arrangements are,to the fullest extent possible,to be reimbursed to such District from
the proceeds of such long-term financing upon its consummation;provided,however,that the maximum
principal amount of debt to be issued with respect to the Project of each District shall not exceed the
amount set forth with respect to it on Attachment A hereto.
SECTION 3:This resolution represents the current intention of each District with
respect to such District,but does not in any way obligate any District to proceed with long-term
financing for its Project,or to reimburse itself from the proceeds of any such long-term financing which
may be undertaken,in the event that any such District later determines that either of such actions is
not in the best interests of such District.
SECTION 4:Each District specifically states that this Resolution constitutes a statement
of such District’s official intent under and pursuant to Treas.Reg.§1.103-18.
SECTION 5:This resolution shall take effect on its date of adoption.
PASSED AND ADOPTED at a regular meeting held June 10,1992.
2
ATTACHMENT A
COUNTY SANITATION DISTRICTS OF ORANGE COUNTY
DISTRICTS 1,2,3,5,6,7 AND 11
REIMBURSEMENT INFORMATION
Project Descriøtion Reimbursement Maximum
DISTRICT 1 Joint Works and trunk sewer $1,000,000
(including projects 1-16)
DISTRICT 2 Joint Works and trunk sewer $1,000,000
(including projects 2-26-1,2,3
DISTRICT 3 Joint Works and trunk sewer $5,000 000
DISTRICT 5 Joint Works and trunk sewer $1,000 000
(including projects 5-32,5-33,5-34,
5-34-3,5-35-2,5-38,5-39)
DISTRICT 6 Joint Works and trunk sewer $3,000,000
(including projects 14-1-la)
DISTRICT 7 Joint Works and trunk sewer $1,000,000
(including projects 7-1 1-2,7-13,
14-1-la,14-12)
DISTRICT 11 Joint Works and trunk sewer $3,000,000
STATE OF CALIFORNIA)
)SS.
COUNTY OF ORANGE )
I,RITAJ.BROWN,Secretary of the Boards of Directors of County
Sanitation Districts Nos.1,2,3,5,6,7 and 11 of Orange County,
California,do hereby certify that the foregoing Resolution No.92—73 was
passed and adopted at a regular meeting of said Boards on the 10th day of
June,1992,by the following vote,to wit:
District 1
AYES:Dan Griset,Chairman,Fred Barrera,Thomas R.Saltarelli,
Roger R.Stanton,James A.Wahner
None
None
Sal A.Sapien,Chairman,Buck Catlin,John Collins,Norman E.
Culver,Burnie Dunlap,James V.Evans,James H.Flora,Don R.
Griffin,Frank Laszio,Pat McGuigan,Eva G.Miner,
Richard Partin,Irv Pickier,Jim Silva,Roger R.Stanton,
Charles E.Sylvia
None
None
Ruthelyn Piurmier,Chairman,John C.Cox,Jr.,Don R.Roth
None
None
NOES:
ABSENT:
District 2
AYES:John Collins,Chairman pro tern,Fred Barrera,Buck Catlin,
Barry Denes,Dan Griset,John M.Gullixson,William D.Mahoney,
Robert H.Main,Glenn Parker,Irv Pickler,Roger R.Stanton
NOES:None
ABSENT:Arthur G.Newton
District 3
AYES:
NOES:
ABSENT:
District 5
AYES:
NOES:
ABSENT:
District 6
AYES:.James A.Wahner,Chairman,Evelyn Hart,Don R.Roth
NOES:None
ABSENT:None
District 7
AYES:Charles E.Puckett,Chairman,Fred Barrera,John C.Cox,Jr.,
Don R.Roth,Sally Anne Sheridan,James A.Wahner
NOES:None
ABSENT:Robert Richardson
District 11
AYES:Grace H.Winchell,Chairman,Jack Kelly,Roger R.Stanton
NOES:None
ABSENT:None
IN WITNESS WHEREOF,I have hereunto set my hand and affixed the official
seal of County Sanitation District No.1 on behalf of itself and District
Nos.2,3,5,6,7 and 11 of Orange County,California,this 10th day of June,
1992.
Rita J.Brown,Secretary
Boards of Directors,County
Sanitation Districts Nos.1,2,3,5,
6,7 and 11 of Orange County~
California