HomeMy WebLinkAbout1994-252
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RESOLUTION NO. 94-252
RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO APPROVING A
CERTAIN MUTUAL RELEASE AND SETTLEMENT
AGREEMENT AND A CERTAIN MITIGATION AGREEMENT
IN CONNECTION WITH COMMUNITY FACILITIES
DISTRICT NO. 995
WHEREAS, on August 1, 1994, the City of San Bernardino
(the "City") ratified certain judicial foreclosure actions filed
on January 14, 1994 and January 24, 1994 bearing San Bernardino
Superior Court Case Nos. SCV09593, SCV09594, SBCI09793 and
SCV09790, authorized the filing of an action for judicial
foreclosure of the delinquent special tax liens associated with
certain undeveloped parcels in the City's Community Facilities
District No. 995 (the "District") and approved a form of Mutual
Release and Settlement Agreement in connection with the District;
and
WHEREAS, there have been certain modifications to the
Mutual Release and Settlement Agreement in order to meet the
requests of all of the parties thereto and said revised Mutual
Release and Settlement Agreement (the "Settlement Agreement") is
presently on file with the City Clerk; and
WHEREAS, the San Bernardino Unified School District
(the "School District") has agreed to enter a Mitigation
Agreement (the "Mitigation Agreement") (a form of which is
presently on file with the City Clerk), under which funds held on
behalf of the School District shall be released in return for the
School District disbursing said funds to the City in order for
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94-252
the City to redeem a portion of its $7,440,000 Special Tax Bonds
(the "Prior Bonds"); and
WHEREAS, the Mitigation Agreement provides for the
reimbursement of said funds when certain amounts are received by
the City; and
City now desires to enter
and Mitigation Agreement in
into
the
best
WHEREAS, the
Settlement Agreement
interests of the City.
the
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
Section 1. The recitals contained herein are true
and correct and are incorporated herein by this reference.
Section 2. The Mayor and Common Council hereby
approve the Mutual Release and Settlement Agreement with the
owners of, and interest holders in undeveloped parcels within the
District in the form as on file with the City Clerk.
Section 3. The Mayor and Common Council hereby
approve the Mitigation Agreement in the form as on file with the
City Clerk.
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94-252
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Section 4. The Mayor or the City Administrator and
the City Clerk of the City are hereby authorized and directed to
execute the Settlement Agreement and the Mitigation Agreement on
behalf of the City with any such changes as may be approved by
the Mayor and Counsel for the City.
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94-252
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO APPROVING A CERTAIN MUTUAL RELEASE AND SETTLEMENT
AGREEMENT AND A CERTAIN MITIGATION AGREEMENT IN CONNECTION WITH
COMMUNITY FACILITIES DISTRICT NO. 995
Section 5.
This Resolution shall become effective
immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the City of
San Bernardino at a regular
meeting
thereof, held on the 15th day of
Allqll~t
1994, by the following vote, to wit:
AYES:
Council Members
NA~rrp+A. Curl in Ohp-rhplmi'ln.
Dp'Ul in P()pp-T,llnl rim K. MT 11 pr
NAYS:
Hprn;::annp7.
ABSENT:
~k~~
The foregoing
resolution is hereby approved this
19th
August
, 1994.
~~/d~
ayor of the City of
San Bernardino
day of
Approved as to form and legal content:
JAMES F. PENMAN
City At7prney
By: {~kL?i'-.~
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