HomeMy Public PortalAboutResolution - 03-06- 20030226 - Maridon Purchase RESOLUTION NO.03-06
RESOLUTION OF THE BOARD OF DIRECTORS OF
THE MMPENINSULA 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(MONTE BELLO OPEN SPACE
PRESERVE—MARIDON 6.25% INTEREST TAX-
DEFAULTED PROPERTY, SANTA CLARA COUNTY)
The Board of Directors of the Midpeninsula Regional Open Space District does
resolve as follows:
Section On . 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 Certificate 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 or appropriate 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. The General Manager and General Counsel are further authorized
to approve any technical revisions to the attached Agreement and documents which do
not involve any material change to any term of the Agreement or documents, which are
necessary or appropriate to the closing or implementation of this transaction.
Section Six. It is intended, reasonably expected, and hereby authorized that the
District's general fund will be reimbursed in the amount of$4,265 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.
Section Seven. This Resolution supplements Resolution No. 0 1-15 adopted on
May 9, 2001.
I
RESOLUTION No. 03-06
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on February 26, 2003, at a Regular Meeting thereof, by the following vote:
AYES: N. Hanko, P. Sieme". D. Littte, L. Ha.6zett, J. Cyn, K. Nitz
NOES: none
ABSTAIN: none
ABSENT: M. Davey
ATTEST: APPROVED:
Secrtdf
P esident
B Directors Board of Directors
I, the 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.
District.Clerk