HomeMy Public PortalAboutResolution - 22-47- 20221109 - San Jose Water CompanyRESOLUTION 22-47
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT AUTHORIZING
ACCEPTANCE OF THE PURCHASE AND SALE AGREEMENT,
AMENDING THE FISCAL YEAR 2022-23 GENERAL FUND CAPITAL
BUDGET, AUTHORIZING THE GENERAL MANAGER OR OTHER
APPROPRIATE OFFICER TO EXECUTE A CERTIFICATE OF
ACCEPTANCE AND GRANT TO DISTRICT, AND AUTHORIZING THE
GENERAL MANAGER TO EXECUTE ANY AND ALL OTHER
DOCUMENTS NECESSARY OR APPROPRIATE TO CLOSING OF THE
TRANSACTION (SIERRA AZUL OPEN SPACE PRESERVE - LANDS OF
SAN JOSE WATER COMPANY)
The Board of Directors of the Midpeninsula Regional Open Space District does hereby
resolve as follows:
SECTION ONE. The Board of Directors (Board) of the Midpeninsula Regional Open
Space District (District) does hereby accept the offer contained in that certain Purchase and Sale
Agreement between San Jose Water Company and the District, a copy of which purchase
agreement is attached hereto and by reference made a part hereof, and authorizes the President of
the Board, General Manager, or other appropriate officer to execute the Agreement and all
related transactional documents on behalf of the District to acquire the real property described
therein ("the San Jose Water Company Property").
SECTION TWO. The Board authorizes the expenditure of $720,000.00 covering the
purchase of the San Jose Water Company Property, including an option deposit of $25,000.00.
SECTION THREE. The Board approves an amendment to the Budget and Action Plan
for Fiscal Year 2022-23 (FY23) by increasing the Measure AA Fund Capital budget in the
amount of $720,000.00. Except as herein modified, the FY23 Budget and Action Plan,
Resolution No. 22-21 as amended, shall remain in full force and effect.
SECTION FOUR. The General Manager, President of the Board, or other appropriate
officer is authorized to execute a Certificate of Acceptance and the Grant Deed on behalf of the
District.
SECTION FIVE. The General Manager or designee is authorized to provide notice of
acceptance to the seller, execute all escrow documents and to extend escrow if necessary.
SECTION SIX. The General Manager or designee is authorized to expend up to
$10,000.00 to cover the cost of title insurance, escrow fees, and miscellaneous costs related to
this transaction.
SECTION SEVEN. 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.
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Resolutions,2D2222 47_SanJoseWaterCompanyPurchase
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PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional
Open Space District on November 9, 2022, at a regular meeting thereof, by the following vote:
AYES: CYR, HASSETT, HOLMAN, KERSTEEN-TUCKER, RIFFLE, SIEMENS
NOES: NONE
ABSTAIN: NONE
ABSENT: KISH MOTO
ATTEST: APPROVED:
Zeta
Karen Holman, Secretary e Kersteen-Tucker, President
Board of Directors Board of Directors
APPROVED AS TO FORM:
Hilary Stetnson, General Counsel
1, 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.
out
aria Soria, Deputy District Clerk
Resolutiousi2072 22_-47_San)aseWatorCumpanyPurchase
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