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Home My Public Portal About20090527 - Resolution - Board of Directors (BOD) (3) Cover Sheet for Scanning by ECS Originating Department General Manager Laserfiche Template Board of Directors Template Fields Document Date: 5/27/2009 Document Type: Resolution Preserve Name: Keywords (no more than 4): Hacienda Park Purchase Project Name: Project Number: Vendor or Other Party: Name (First): Name (Last): Address: APN Number: Document No. 09-16 Additional Field: Additional Field: Additional Field: Additional Field: RESOLUTION 09-16 RESOLUTION OF THE BOARD OF DIRECTORS OF MIDPENINSULA REGIONAL OPEN SPACE DISTRICT AUTHORIZING ACCEPTANCE OF AGREEMENT TO PURCHASE TAX DEFAULTED PROPERTY, AUTHORIZING GENERAL MANAGER OR OTHER OFFICER TO EXECUTE CERTIFICATE OF ACCEPTANCE OF GRANT 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—TAX DEFAULTED HACIENDA PARK PROPERTIES, SANTA CLARA COUNTY,ASSESSORS PARCEL NUMBERS: 562-24-055, 562-25-049, 562-25-058 AND 562-25-060) The Board of Directors of Midpeninsula Regional Open Space District does resolve as follows: Section One. The Board of Directors of Midpeninsula Regional Open Space District does hereby accept the offer contained in that certain Agreement to Purchase Tax Defaulted Property between the County of Santa Clara and the Midpeninsula Regional Open Space District, a copy of which purchase agreement is attached hereto and by reference made a part hereof, and authorizes the President or other appropriate officer to execute the Agreement on behalf of the District to acquire the real property described therein("the Tax Defaulted Hacienda Park Properties"). Section Two. The General Manager, President of the Board of Directors or other appropriate officer is authorized to execute Certificate of Acceptance for the Grant Deed on behalf of the District. i Section Three. The General Manager or the General Manager's designee shall cause to be given appropriate notice of acceptance to the seller and to extend escrow if necessary. Section Four. The General Manager is authorized to expend up to $2,500.00 to cover the cost of title insurance, escrow fees, and other miscellaneous costs related to 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 f h Agreement or documents which are necessary or appropriate to the change to any term o the g y closing or implementation of this transaction. Section Six. The purpose of this Section is to enable the District to reimburse its general fund for the cost of certain land acquisitions. The District wishes to finance certain of these real property acquisitions and expects to use tax-exempt debt, such as bonds, but a tax-exempt financing is not cost justified for the District unless the principal amount of the financing is large enough to justify the related financing costs. Consequently, it is the District's practice to buy property with its general funds and, when a tax-exempt financing is cost justified based on the aggregate value of acquisitions, to issue tax-exempt obligations to reimburse itself for previous expenditures of general funds. These general funds are needed for operating and other working capital needs of the District and are not intended to be used to finance property acquisitions on a long-term basis. U.S. Income Tax Regulation Section 1.150-2 requires an issuer of tax-exempt debt to declare its intent to use a portion of tax-exempt debt proceeds for reimbursement of expenditures prior to the payment of the expenditures. Accordingly, the Board of Directors hereby declares its intent to issue tax-exempt obligations in the maximum principal amount of$1.0,000.00. RESOLUTION NO.09-16 PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space District on May 27, 2009 at a Regular Meeting thereof, by the following vote: AVES: Mary Davey, Jed Cyr, Nonette Hanko, Pete Siemens Cecily Harris , Curt Riffle NOES: None ABSTAIN: None ABSENT: Larry Hassett ATTEST: APPROVED: i 7 e etary President oard of 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 I F Gout ut County of Santa Clare w �� 1 /� Tax Collector i Tax Collections Division County Government Center, East Wing 70 West Hedding Street 'y a San Jose,California 951 10 NTH, C. (406)803-79W FAX 279-0357 i i I AGREEMENT TO PURCHASE TAX DEFAULTED PROPERTY This Agreement is made this March 23, 2009, by and between the Board of Supervisors of Santa Clara County, State of California and the Midpeninsula Regional Open Space District ("PURCHASER"), pursuant to the provisions of Division 1, Part 6, Chapter 8, of the Revenue and Taxation Code. The real property situated within said county, hereinafter set forth and described in Exhibit "A" attached to this agreement is tax-defaulted and is subject to the power of sale by the Tax Collector of said county for the nonpayment of taxes, pursuant to provisions of law. TERMS AND CONDITIONS It is mutually agreed as follows: 1. That, as provided by Section 3800 of the Revenue and Taxation Code, the cost of giving notice of this agreement shall be paid by the PURCHASER. 2. That the PURCHASER agrees to pay the sales price for the real property described in Exhibit "A" as defined in Revenue and Taxation Code § 3793.1, the sales price shall include the following. a. All defaulted taxes and assessments and all associated penalties and costs, redemption penalties and fees incurred through the month of the sale, which are estimated at $6,650.00 based on an estimated sale date of August 2009. See Exhibit "A". Once the Tax Collector has received an executed copy of this agreement from will be determined based on the actual effective t i the State Controller, the final amour da te ofthis agreement ent as provided in Revenue and Taxation Cod e § 3802. 3. PURCHASER � HASER agrees to make payment in full within 10 days aft er the effective date of sale. Upon receipt of payment to the Tax Collector,the Tax Collector shall execute and deliver a deed conveying title to said property to PURCHASER. 4. That PURCHASER agrees to use the parcel(s) for public purposes within the scope of its legal authority. Page 1 of 2 ORIGINAL i 5. That PURCHASER will not share in the distribution of proceeds from this sale. If all or any portion of any individual parcel listed in Exhibit "A" is redeemed prior to the effective date of this agreement, this agreement shall be null and void as to that individual parcel. This agreement shall also become null and void and the right of redemption restored upon the PURCHASER'S failure to comply with the terms and conditions of this agreement. The undersigned hereby agree to the terms and conditions of this agreement and are duly authorized to sign for said agencies. PURCHASER: APPROVED AS TO FORM AND LEGALITY: By Sue Schectman Nonette Hanko General Co unsel President, Board of Directors COUNTY: ATTEST: Maria Marinos Liz Kniss, President Clerk of the Board of Supervisors Board of Supervisors APPROVED AS TO FORM AND LEGALITY: Lizanne Reynolds, Deputy County Counsel Pursuant to the provisions of Section 3795 of the Revenue and Taxation Code, the Controller approves the foregoing agreement this day of , John Chiang, California State Controller By _Attachments to this Agreement: Exhibit A—Attachments A1- A4 Page 2 of 2 DUPLICATE ORIGINAL