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HomeMy Public PortalAbout20090812 - Resolution - Board of Directors (BOD) (2) Cover Sheet for Scanning by ECS Originating Department General Manager Laserfiche Template Board of Directors Template Fields Document Date: 8/12/2009 Document Type: Resolution Preserve Name: Keywords(no more than 4): Laine Purchase Project Name: Project Number: Vendor or Other Party: Name (First): Name (Last): Address: APN Number: Document No. 09-24 Additional Field: Additional Field: Additional Field: Additional Field: RESOLUTION 09-24 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 LAINE PROPERTY, SANTA CLARA COUNTY, ASSESSORS PARCEL NUMBER: 562-09-018) l 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 Agreement be tween en the Count Purchase A ee Y Purch does hereby accept the offer contained m that certaingI' of Santa Clara and the Midpeninsula Regional Open Space District (see Exhibit C) 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 Laine Property"). 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. 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 GOStS to this transaction. related 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. 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$10,000.00. RESOLUTION No.09-24 PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space District on August 12, 2009 at a Special Meeting thereof,by the following vote: AYES: MARY DAVEY,LARRY HASSETT,NONETTE HANKO,PETE SIEMENS, CECILY HARRIS,CURT RIFFLE NOES: NONE ABSTAIN: ABSENT: JED CYR ATTEST: APPROVED: Aor Secretary President Board of Directors Board of Directors I, the Deputy 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. Ak KA Deputy District Clerk County of Santa Clara G0 U Tax Colt(Xtor Tax Collections Division County Government Center,Fast Wing 70 West Hedding Street San Jose.California 951 10 (408)808-7900 FAX 279-0357 AGREEMENT TO PURCHASE TAX DEFAULTED PROPERTY This Agreement is made this July 24, 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 $7,100 based on an estimated sale date of January 2010. See Exhibit "A". Once the Tax Collector has received an executed copy of this agreement from the State Controller, the final amount will be determined based on the actual effective date of this agreement as provided in Revenue and Taxation Code § 3802. 3. PURCHASER agrees to make payment in full within 10 days after 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. 5. That PURCHASER will not share in the distribution of proceeds from this sale. Page I of 2 ORIGINAL 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 NonAte Hanko General Counsel President, Board of Directors COUNTY: ATTEST: Maria Marinas 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—Attachment A l Page 2 of 2 ORIGINAL