HomeMy Public PortalAboutResolution - 01-09- 20010425 - Accept SMC Tax-Defaulted RESOLUTION NO. 01-09
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT
APPROVING AND AUTHORIZING EXECUTION OF
AGREEMENT TO PURCHASE TAX-DEFAULTED
PROPERTY, AUTHORIZING OFFICER TO EXECUTE
CERTIFICATE OF ACCEPTANCE OF GRANT TO DISTRICT
(PURISIMA CREEK REDWOODS OPEN SPACE PRESERVE—
TAX-DEFAULTED PROPERTY, SAN MATEO COUNTY)
The Board of Directors of the Midpeninsula Regional Open Space District does resolve as
follows:
Section One. The Board of Directors of the Midpeninsula Regional Open Space District does
hereby accept the terms contained in that certain Agreement to purchase Tax-Defaulted Property
between the Board of Supervisors of San Mateo County, California and Midpeninsula Regional Open
Space District, a copy of which is attached hereto and by this reference made a part hereof, and
authorizes the President or appropriate officers to execute on behalf of District.
Section Two. The President of the Board or other appropriate officer is authorized to execute a
Certificate of Acceptance on behalf of District.
I
Section Three. The General Manager of the District shall cause to be given appropriate notice of
acceptance to San Mateo County. The General Manager is further authorized to execute any and all
other documents necessary to the closing of this transaction.
Section Four. The General Manager of the District is authorized to spend up to $500 to cover
any miscellaneous costs related to this transaction.
Section Five. It is intended, reasonably expected, and hereby authorized that the District's
general fund will be reimbursed in the amount of$17,050 from the proceeds of the next long-term
District note issue. This section of this Resolution is adopted by the Board of Directors of Midpeninsula
Regional Open Space District solely for purposes of establishing compliance with the requirements of
Section 1.103-18 of the Treasury Regulations. The reimbursement of this payment expenditure is
consistent with the District's budgetary and financial circumstances. There are no funds or sources of
moneys of the District that have been, or are reasonably expected to be, reserved or allocated on a long-
term basis, or otherwise set aside to pay the costs of this open space land acquisition project which are to
be paid or reimbursed out of proceeds of indebtedness to be issued by the District. The Board of
Directors hereby declares the District's official intent to use proceeds of indebtedness to reimburse itself
for this open space land acquisition project expenditure.
I
RESOLUTION NO. 01-09
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on April 25, 2001, at a regular meeting thereof, by the following vote:
AYES: J. Cyh, M. Davey, N. Nanko, L. Nasdett, D. LittCe, K. N-c tz, P. Siemend
NOES: none
ABSTAIN: none
ABSENT: none
ATTEST: APPROVED:
Secretary President
Board of Directors Board of Directors
I, the Acting District Clerk of the Midpeninsula Regional Open Space District, hereby certify
that the above is a true and correct copy of a resolution duly adopted by the Board of
Directors of the Midpeninsula Regional Open Space District by the above vote at a meeting
thereof duly held and called on the above day.
Acting District Clerk