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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
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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.
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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