1968/01/30 Golf Course Corporation Minutes MINUTES OF MEETING
OF THE BOARD OF DIRECTORS OF THE CITY OF
ROHNERT PARK GOLF COURSE CORPORATION
January 30, 1968
The Directors named in the Articles of Incorporation of
the City of Rohnert Park Golf Course Corporation, a corporation
formed under the General Nonprofit Corporation Law of the State
of California, and constituting the Board of Directors of said
corporation, held their meeting at 6950 Commerce Boulevard,
Rohnert Park, California, on the 30th day of January, 1968,
at 5:00 o 'clock P.M.
There were present at said meeting the following Directors
constituting a quorum of the full Board : James W. Harris,
Donald L. Davis, and Lawrence S. Swenson.
The Secretary stated that the President and the Secretary
had executed on behalf of the corporation, Form No. 2848-D re-
lating to the authorization of Richard F. Raymond to represent
the corporation before the Internal Revenue Service in order to
secure a tax ruling on the corporation 's bonds .
On motion duly made, seconded and unanimously carried,
the following resolution was adopted:
RESOLVED, that the action of the President and the
Secretary in executing Form No. 2848-D of the Internal Revenue
Service to authorize Richard F. Raymond to represent the cor-
poration before the Internal Revenue Service in order to secure
a tax ruling on the corporation 's bonds, is hereby ratified and
confirmed.
The Secretary presented a letter from Robert E. Schweser
Co. of California, Ltd. , extending until March 1, 1968 the
underwriting agreement between said underwriter and this cor-
poration for the corporation 's bonds . The Secretary was directed
to file the same.
The Secretary presented a so-called "no action letter"
relating to the corporation 's bonds, received from the Chief
Counsel of the Division of Corporations of the Securities and
Exchange Commission, after request therefor by the corporation.
The Secretary was directed to file the same.
The Secretary presented to the Board for its consideration
a copy of a letter directed to the corporation from the Franchise
Tax Board of the State of California which sets forth the re-
quirements for filing tax returns of the corporation. It was
noted that the corporation is required to adopt an annual
accounting period which meets the requirements of the Bank
and Corporation Tax Law.
On motion duly made, seconded and unanimously carried, the
following Resolution was adopted :
RESOLVED, that this corporation adopt as its annual account-
ing period, the period from July 1 to June 30 in each year, the
first such period to end on June 30, 1968, and the same is
hereby adopted.
RESOLVED FURTHER, that this same accounting year be used
for purposes of filing the United States Return of Organization
Exempt from Tax, and the same is hereby adopted.
(-)
RESOLVED FURTHER, that the President is hereby directed to
inform the Franchise Tax Board of the fact that this corporation
has adopted such annual accounting period.
The Secretary presented for the approval of the meeting
Change Order No . 1 relating to the installation pursuant to con-
tract of irrigation system improvements in the Rohnert Park golf
course by Fair Way Landscape Co. The Secretary stated the City
Council of Rohnert Park had approved such Change Order.
After discussion thereof and a motion duly made, seconded
and unanimously carried, the following Resolution was adopted:
RESOLVED, that Change Order No. 1 is hereby approved and
the President and Secretary directed to execute and attest the
same on behalf of the corporation.
The Secretary presented for the approval of the meeting a
proposed Lease between the corporation and the City of Rohnert
Park relating to the Rohnert Park golf course .
After discussion thereof and on motion duly made, seconded
and unanimously carried, the following Resolution was adopted:
RESOLVED, that the proposed Lease between this corporation
and the City of Rohnert Park relating to the Rohnert Park golf
course is hereby approved and the President and the Secretary
are hereby directed to execute said Lease on behalf of the Cor-
poration.
A discussion followed in which it was noted that in order
to issue its bonds in the sum of $700,000 principal amount to
carry out its purposes as set forth in the Articles of Incor-
poration and Bylaws and to meet its commitments under the Lease, II
it is necessary for the corporation to apply for a permit to do
so from the Commissioner of Corporations of the State of Cali-
fornia.
On motion duly made, seconded and unanimously carried, the
following Resolution was adopted:
RESOLVED, that any of the officers of this corporation be,
and they hereby are authorized and directed to prepare or cause to
be prepared, verified and filed on behalf of this corporation
an application to the Commissioner of Corporations of the State
of California (including amendments and supplements thereto and
applications for amended permits ) for a permit authorizing this
corporation to sell and issue its bonds for not more than
$700,000.00, the sum determined to be necessary for the acqui-
sition and construction of a Municipal Golf Course.
RESOLVED FURTHER, that the officers of this corporation be,
and they are hereby authorized and directed to execute all
documents and to take such action as they may deem necessary
or advisable in order to carry out and perform the requirements
of the permit of said Commissioner of Corporations for said bonds .
There being no further business to come before this Board,
the meeting was adjourned on motto -duly made and carried.
j" Secretary
of the Rohnert Park Golf
vi Course Corporation