HomeMy WebLinkAboutResolution 95-020RESOLUTION NO.95-20
TERMINATING THE 1994 TAXABLE COMMERCIAL PAPER PROGRAM
A JOINT RESOLUTION OF THE BOARDS OF DIRECTORS OF COUNTY
SANITATION DISTRICTS NOS.1,2,3,5,6,7,11,13 AND 14 OF ORANGE
COUNTY,CALIFORNIA,TERMINATING THE 1994 TAXABLE COMMERCIAL
PAPER PROGRAM AND DECLARING NO FURTHER REISSUE OF DEBT
INSTRUMENTS ISSUED PURSUANT THERETO
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WHEREAS,County Sanitation Districts Nos.1,2,3,5,6,7,11,13 and 14,issued Fifty
Million Dollars ($50,000,000.00)in Taxable Commercial Paper notes on January 14,1994,for
the purpose of financing construction costs,maintenance and operation costs and other working
capital requirements;and,
WHEREAS,said notes provided that they shall not have a maturity greater than
365 days;and,
WHEREAS,the entire issue of Fifty Million Dollars ($50,000,000.00)matured on
December 7,1994,January 4,1995 and January 20,1995,and all principal and interest has
been paid in full;and,
WHEREAS,the Districts have determined that no further need for said borrowed funds
exists.
NOW,THEREFORE,the Boards of Directors of County Sanitation Districts Nos.1,2,3,
5,6,7,11,13 and 14 of Orange County,California,
DO HEREBY RESOLVE,DETERMINE AND ORDER:
Section 1 That no portion of the Fifty Million Dollars ($50,000,000.00)in Taxable
Commercial Paper notes issued January 14,1994,shall be reissued;and,
Section 2 That the January 14,1994,Taxable Commercial Paper Program is hereby
terminated.
PASSED AND ADOPTED at a regular meeting held March 8,1995.
Res.020
STATE OF CALIFORNIA)
)SS.
COUNTY OF ORANGE
I,PENNY KYLE,Secretary of the Boards of Directors of County Sanitation
Districts Nos.1,2,3,5,6,7,11,13 and 14 of Orange County,California,do hereby
certify that the foregoing Resolution No.95-20 was passed and adopted at a regular
meeting of said Boards on the 8th day of March,1995,by the following vote,to wit:
AYES:George Brown,John Collins,John C.Ccx,Jr.,Jan Debay,Barry
Denes,Shiny Dettloff,Norman Z.Eckenrode,James M.Ferryman,
James H.Flora,Don R.Griffin,Barry Hammond,Victor Leipzig,
Wally Linn,Pat McGuigan,Mark A.Murphy,Jim Potts,Margie L.
Rice,Julie Sa,Sal A.Sapien,Roger R.Stanton,William G.
Steiner,Peer A.Swan,Charles E.Sylvia,Bob Zemel,George
Zlaket
NOES:None
ABSENT:Cecilia Age,Burnie Dunlap,John Gullixson,Glenn Parker,Daniel
T.Welch
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 Districts Nos.2,3,5,6,7,
11,13 and 14 of Orange County,California,this 8th day of March,1995.
Penny Kyle(~cr~ry
Boards of EYVectors,County Sanitation
Districts Nos.1,2,3,5,6,7,11,13 and 14
of Orange County,California
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