HomeMy Public PortalAboutResolution - 01-15- 20010509 - Accept SCC Tax-Defaulted RESOLUTION NO. 01-15
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(SIERRA AZUL, EL SERENO,
AND MONTE BELLO OPEN SPACE PRESERVES —
TAX-DEFAULTED PROPERTIES, SANTA CLARA
COUNTY)
The Board of Directors of the Midpeninsulag p 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 Santa Clara County, California and the
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 the
agreement on behalf of District.
Section Two. The President of the Board or other appropriate officer is authorized to
execute a Certificates of Acceptance on behalf of District.
Section Three. The General Manager of the District shall cause to be given appropriate
notice of acceptance to Santa Clara 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 $2,000 to
cover any miscellaneous costs related to the closing of 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$61,300 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. 01-15
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on May 9, 2001, at a regular meeting thereof, by the following vote:
AYES: P. Siemenz, N. Hanko, K. N,rtz, M. Davey, J. Cyn, L. Haz4ett, D. Lithe
NOES: none
ABSTAIN: none
ABSENT: none
ATTEST: APPROVED:
Sec p tart' 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 Distric Jerk