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Document Type: Resolution
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Keywords (no more than 4): MuDoncA A R/l('J a-:,,�
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RESOLUTION 9 7-3 3
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT
AUTHORIZING ACCEPTANCE OF PURCHASE AGREEMENT
AND ADDENDUM THERETO,AUTHORIZING OFFICER TO
EXECUTE CERTIFICATE OF ACCEPTANCE OF QUITCLAIM TO
DISTRICT,AND AUTHORIZING GENERAL MANAGER TO
EXECUTE ANY AND ALL OTHER DOCUMENTS NECESSARY
OR APPROPRIATE TO CLOSING OF THE TRANSACTION
(SIERRA AZUL OPEN SPACE PRESERVE-LANDS OF
AUGUSTINE MACDONALD TRUST,ET AL.)
i
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 offer contained in that certain Purchase Agreement and Addendum Thereto between
the Augustine MacDonald Trust et al. and the Midpeninsula Regional Open Space District, a copy of
which is attached hereto and by reference made a part hereof,and authorizes the President or
appropriate officers to execute the Agreement on behalf of the District.
Section'Two. The President of the Board of Directors or other appropriate officer is authorized
to execute a Certificate of Acceptance on behalf of the District.
Section Three. The General Manager of the District shall cause to be given appropriate notice
of acceptance to the seller. The General Manager further is authorized to execute any and all other
documents in escrow necessary or appropriate to the closing of the transaction.
Section Four. The General Manager of the District is authorized to expend up to$1,000 to
cover the cost of title insurance,escrow fetes,and other miscellaneous costs related to this transaction.
Section Five. It is intended,reasonably expected and hereby authorized that the District's
t of 7 ?20 from the r of the next to term
general fund will be reimbursed in the amour $6
p
District note issue. This Section of this Resolution is adopted by the Board of Directors of the
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
ex
financial circumstances. There are no funds or
expenditure is consistent with District's bud and fiaianc
P g
sources of moneys of the District that have been, or reasonably are 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 District. The Board
of Directors hereby declares District's official intent to use proceeds of indebtedness to reimburse itself
for this open space land acquisition project expenditure.
RESOLUTION NO. 97-33
PASSED AND ADOPTED b the Board of Directors of the Midpeninsula Regional y p Open
Space District on September 24 19 97 at a regular meeting thereof, by
the following vote:
AYES: Mary Davey, Kenneth Nitz, Peter Siemens,
Betsy Crowder, David Smernoff, J. Edmond Cyr, Jr.
NOES: None
ABSTAIN: None
ABSENT: Nonette Hanko
ATTEST: APPROVED:
Secretary, Board of Directors President, B8ard of Direct s
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.
ti
sting District Clerk