1995-075 - Laserfiche WebLink

Home Browse Search

PURPOSE OF ISSUANCE The Bonds are being issued to provide funds (1) to acquire by purchase, interests in land, including but not limited to, fee simple interest, less than fee simple interest, conservation easements, development rights and other similar interests in environmentally significant lands, together with the necessary restoration, remediation and reclamation activities to preserve and enhance such property, including customary and necessary costs and expenses incurred in the acquisition of such lands and expenses incident to the sale, issuance and delivery of the Bonds (collectively, the "Project"); and (ii) to pay certain expenses associated with the issuance and delivery of the Bonds. For a complete description of the terms and conditions of the Bonds, reference is made to the Resolution, the form of which is included as Appendix C to this Official Statement, "Form of Bond Resolution." The description of the Rtsolution, the Bonds and information from reports contained herein do not purport to be comprehensive or definitive, and reference is made to the complete Resolution, on file with the County, for the terms thereof. THE ACQUISITION PROGRAM The Board has appointed a 17 member Land Acquisition Advisory Committee (the "Advisory Committee") to make recommendations to the Board regarding the purchase of environmentally significant lands for conservation purposes, including lands which constitute the Project. The Committee has broad representation from throughout the County and its membership reflects a diversity of interests. Among its duties, the Advisory Committee conducts an annual review and ranking of properties nominated for County acquisition. This ranking is based on established criteria set forth in a Land Acquisition Guide, which is a procedural document adopted by the Board. All purchase contracts relating to the program are subject to final approval by the Board at a duly advertised public hearing. DESCRIPTION OF THE BONDS General The Bonds will be dated July 1, 1995, will be issued in fully registered form, without coupons, in the denominations of $5,000 each or integral multiples thereof, and will bear interest at the rates and mature on the dates set forth on the cover page of this Official Statement. Interest on the Bonds will be payable February 1, 1996, and semiannually thereafter (February 1 and August 1 of each year). Principal of and interest on the Bonds will be payable in the manner described under "Book -Entry Only System" herein. The Bonds will bear a Certificate of Authentication to be manually executed by the Registrar, and no Bond will be valid or obligatory for any purpose unless the Certificate of Authentication thereon has been duly executed by the Registrar. Certain of the Bonds will be subject to redemption as described below under "Optional Redemption." 3247AND38M-9/1'OS-BODY-1 2