HomeMy Public PortalAboutResolution - 04-50- 20041215 - Steinstra Property Exchan RESOLUTION NO. 04-50
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT APPROVING
AGREEMENT TO
AND AUTHORIZING ACCEPTANCE OF THE A G
EXCHANGE INTERESTS IN REAL PROPERTY, AUTHORIZING
THE PRESIDENT OF THE BOARD OR OTHER APPROPRIATE
OFFICER TO EXECUTE GRANT DEED, AND AUTHORIZING
OFFICER OR GENERAL MANAGER TO EXECUTE CERTIFICATES
OF ACCEPTANCE OF A GRANT TO DISTRICT, AND
AUTHORIZING GENERAL MANAGER TO EXECUTE ANY AND
ALL OTHER DOCUMENTS NECESSARY OR APPROPRIATE TO
CLOSING THE TRANSACTION (PURISIMA CREEK REDWOODS
OPEN SPACE PRESERVE—LANDS OF STIENSTRA ET AL.)
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
ace District does hereby accept the
Bruce R. Stienstra Cathy L. Stienstra, John Veneman
lnte Interests in Real Property between B y
Agreement to Exchange
and the Midpeninsula Regional Open Space District("the Agreement"), a copy of which is attached hereto and
by reference made a part hereof, and authorizes the President of the Board or appropriate officers to execute the
Agreement on behalf of the District.
Section Two. The President of the Board or other appropriate officer is authorized to execute a Grant Deed
conveying the District's real property interests as set out in the Agreement to Bruce R. Stienstra and Cathy L.
Stienstra.
Section Three. The General Manager, President of the Board or other appropriate officer is authorized to
execute Certificates of Acceptance of the Grant Deed conveying the seller's real property interests to the District
as set out in the Agreement
Section Four. The General Manager of the District is authorized to expend up to $2,500 to cover the cost of title
insurance, escrow fees and other miscellaneous costs related to this transaction.
Section Five. The General Manager of the District shall cause to be given appropriate notice of acceptance. The
General Manager and General Counsel are authorized to execute any and all other documents necessary or
appropriate to the closing of the transaction approved in this Resolution. The General Manager and General
Counsel are further authorized to approve minor,or technical revisions to the attached Agreement and related
documents that do not involve any material change to any terms of the Agreement or documents as 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$5,000 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.
J
RESOLUTION NO. 04-50
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on December 15, 2004, at a Special Meeting thereof, by the following vote:
AYES: J. Cyr, M. Davey, N. Hanko, L. Hassett, D. Little, K. Nitz, P. Siemens
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST:
APPROVED:
ecretary President
Board of Directors Board of Directors
1, 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.
Dis Clerk