HomeMy WebLinkAboutResolution 1993 - 0009RESOLUTION NO.93-9-14
APPROVING A FIRST AMENDATORY REIMBURSEMENT
AGREEMENT
A RESOLUTION OF THE BOARD OF DIRECTORS OP
COUNTY SANITATION DISTRICT NO.14 OF ORANGE
COUNTY,CALIFORNIA,APPROVING A FIRST
AMENDATORY REIMBURSEMENT AGREEMENT AND CERTAIN
ACTIONS IN CONNECTION THEREWITH
WHEREAS,this District has previously entered into a
Reimbursement Agreement,dated as of December 1,1990,between the
District and National Westminster Bank PLC (the “Original
Reimbursement Agreement”)in connection with the issuance of an
irrevocable direct—pay letter of credit securing $100,000,000
aggregate principal amount of County Sanitation District Nos.1,2,
3,5,6,7,11,13 and 14 of Orange County,California,
Certificates of Participation (Capital Improvement Program,1990-92
Series A);and
WHEREAS,certain amendments to the Original Reimbursement
Agreement are desirable;and
WHEREAS,it has been proposed that this District enter
into a First Amendatory Reimbursement Agreement,dated as of
November 1,1992,between the District and National Westminster
Bank PLC,acting through its New York Branch (the “First Amendatory
Reimbursement Agreement”),the proposed form of which First
Amendatory Reimbursement Agreement has been presented to this Board
of Directors;and
WHEREAS,this District has determined that it is in the
best interest of the District and the residents within the District
to approve the First Aiuendatory Reimbursement Agreement and
authorize and approve the transactions contemplated thereby;and
NOW,THEREFORE,the Board of Directors of the District
does hereby resolve as follows:
Section 1 The form of the First Amendatory
Reimbursement Agreement presented to this Board of Directors is
hereby approved.The Chairman or Chairman pro tempore and the
Board Secretary or a Deputy Board Secretary are authorized for and
in the name of the District to execute and deliver the First
Amendatory Reimbursement Agreement in the form hereby approved.
The First Amendatory Reimbursement Agreement shall be executed and
delivered in the form hereby approved,with such additions thereto
or changes therein as are recommended by Special Counsel and
General Counsel to the Participating Districts and approved by such
Section 2 The Chairman,Chairman pro tempore,Board
Secretary and any other officer,official or member of the staff of
the District is each authorized and directed,jointly and
severally,to do any and all things and to execute and deliver any
and all documents which they may deem necessary and advisable in
order to effectuate the purposes of this Resolution,and such
actions previously taken by such officers are hereby ratified and
confirmed.
Section 3 This Resolution shall take effect immediately
upon its adoption.
PASSED AND ADOPTED at a regular meeting held January 13,
1993.
2
STATE OF CALIFORNIA)
)SS.
COUNTY OF ORANGE )
I,PENNY KYLE,Assistant Secretary of the Board of Directors
of County Sanitation District No.14 of Orange County,
California,do hereby certify that the foregoing Resolution
No.93-9—14 was passed and adopted at a regular meeting of said
Board on the 13th day of January,1993,by the following vote,to
wit:
AYES:Peer A.Swan,Chairman,Fred Barrera,Barry
Hammond,Leslie Pontious,Don R.Roth
NOES:None
ABSENT:None
IN WITNESS WHEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.14 of Orange
County,California,this 13th day of January,1993.
Penny Kyl istant Secretary
Board of ir tors of Coun~y.
Sanitation District No.l4~f ~.:-
Orange County,California ~