HomeMy WebLinkAboutS1- City Attorney CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
From; Subject:
James F'. Penman Resolution or the city or san Bernardino
authorizing the execution or an agreeneat with Payne
Dept: City Attorney Y Seaino!! Co. and the execution or a Limited power or
Attorney both relating to the recovery or certain
Date: January, 7, 1993 unclaimed rued, in the a.omt or $1.050.11.
Synopsis of Previous Council action:
None
Recommended motion:
Adopt resolution
Signature
Contact person: Dennis A. Barlow Phone: 5255
Supporting data attached: Yes Ward:
FUNDING REQUIREMENTS: Amount:
Source: (Acct. No.)
(Acct. Description)
Finance:
Council Notes:
75-0262 Agenda Item No.—
CITY OF SAN BERNAPOINO - REQUEST FO" COUNCIL ACTION
STAFF REPORT
We have been contacted by a Mr. Howard Saunders of the Wayne
Seminoff Co. located in Bellevue, Washington. Mr. Saunders states
that his firm is in the business of identifying unclaimed or
abandoned funds and then for a percentage will claim those funds on
behalf of the owner. He advises us that he has located a check
sent from Bankruptcy Court in June of 1992 to the City of San
Bernardino in the amount of $1,050. 11. For a fifty percent fee he
will claim the check and return the remaining proceeds to us. He
has done work with the County and they have found him reputable.
In researching this issue, we have not been able to identify
the post office box to which the check was sent as one used by any
City Department or agency. Nor have we been able to identify the
Bankruptcy to which these funds might relate. It is recommended
that the form motion be adopted.
DAB:kfm[SAUNDERS.RPT]
75-0264
p -
Z RESOLUTION NO.
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF AN AGREEMENT WITH WAYNE SEMINOFF CO. AND THE
3 EXECUTION OF A LIMITED POWER OF ATTORNEY BOTH RELATING TO THE
4 RECOVERY OF CERTAIN UNCLAIMED FUNDS IN THE AMOUNT OF $1,050.11.
5 BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO AS FOLLOWS:
6
SECTION 1. The Mayor is hereby authorized and directed to
7
8 execute on behalf of said City an Agreement with Wayne Seminoff
Co. relating to the recovery of certain unclaimed funds in the
9
amount of $1,050. 11, a copy of said agreement is attached hereto,
10
marked Exhibit "A" and incorporated herein by reference as fully
11 as though set forth in length.
12 SECTION 2. The authorization to execute the above
13 referenced agreement is rescinded if the parties to the agreement
14 fail to execute it within sixty ( 60 ) days of the passage of this
15Iresolution.
161 SECTION 3 . The Mayor is hereby also authorized and directed
17I to execute on behalf of said City, a Limited Power of Attorney
is also relating to the recovery of said funds, a copy of said
19 Limited Power Of Attorney is attached hereto, marked Exhibit "B"
20 and incorporated herein by reference as fully as though set forth
21 at length.
22
23
24
25
26
27
28
DAB:kfm[SAUNDERS.RES] January 7, 1993
1 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF AN AGREEMENT WITH WAYNE SEMINOFF CO. AND THE
2 EXECUTION OF A LIMITED POWER OF ATTORNEY BOTH RELATING TO THE
3 RECOVERY OF CERTAIN UNCLAIMED FUNDS IN THE AMOUNT OF $1,050.11.
4 I HEREBY CERTIFY that the foregoing resolution was duly
5 adopted by the Mayor and Common Council of the City of San
6 Bernardino at a meeting thereof, held on the
7 day of , . 1993, by the following vote, to wit:
Council Members: AYES NAYS ABSTAIN ABSENT
8
ESTRADA
9
REILLY
10
HERNANDEZ
11
MAUDSLEY
12
MINOR
13
POPE-LUDLAM
14
MILLER
15
16
17 City Clerk
18 The foregoing resolution is hereby approved this day
of 1993 .
16
20 W. R. Holcomb, Mayor
City of San Bernardino
21
Approved as to
22 form and legal content:
23 JAMES F. PENMAN,
City Attorney
24
25 By:
26
27
28
DAB:kfm[SAUNDERS.RES] —2— January 7, 1993
0 p
A G R E E M E N T
THIS AGREEMENT made and entered into this day of
1993, by and between the Wayne Seminoff Company
of 14400 Bel-Red Road, Suite 207, Bellevue, Washington 98007
(Company) , and the City of San Bernardino, a Charter City of the
State of California, 300 North D Street, San Bernardino, California
92418 (City) :
The parties hereto agree as follows:
1. In consideration of Company' s successful efforts to
identify dormant assets in the amount of $1,050.11 to which City
may be entitled, and Company' s promise to direct City's claim for
such funds into proper channels, City assigns to Company fifty
percent ( 50%) of the total collection.
2. City will cooperate by executing documents to complete
the claim.
3. Unless a collection is made there will be no charge to
City.
4. If City is actively trying to collect the funds already,
then no fee will be charged. Documentation of recovery attempt
dated prior to this Agreement must be provided to Company.
5 . All recovery costs incurred will be paid by Company and
no such costs shall be paid by City. City shall receive fifty
percent ( 500 ) of such funds recovered without reduction or off-set.
IN WITNESS WHEREOF the parties hereto have executed this
Agreement on the day and date first above shown.
WAYNE SEMINOFF COMPANY
By
By
CITY OF SAN BERNARDINO
By
Mayor
Attest:
By
APPROVED AS TO FORM AND LEGAL CONTENT:
JAMES F. PENMAN
City Attorney
By
A
LIM.,it'ED POWER OF ATTORNEX
KNOW ALL MEN BY THESE PRESENTS, That I, City of San Bernardino have made, constituted and
appointed and by these presents do make, constitute and appoint
Wayne Seminoff Company
my true and lawful attorney,for me and in my name,place and stead and for my use and benefit,
ONLY to collect and disburse abandoned funds, or undistributed,
unclaimed, or undelivered tenders or funds:
in the amount of
$1050.11
giving and granting unto my said attorney full power and authority to do and perform all and every act and
thing whatsoever requisite and necessary to be done, as fully, to all intents and purposes, as 1 might or could do
if personally present, hereby ratifying and confirming all that my said attorney shall lawfully do or cause to be
done, by virtue hereof.
In construing this instrument, and where the context so requires, the singular includes the plural.
Dated: , 19
SIGNATURE: Tax ID:
TITLE:
NOTARY SECTION
Sul:e of County of )SS. Dated: 119
Personally appeared before me the above named
111 LE.- and acknowledged the foregoing instrument to be
t ohoitary act and deed.
Before Me:
(Official Seal) Notary Public for the State of:
My Commission expires:
PLEASE PLACE BUSINESS CARD HERE PLACE CORPORATE SEAL HERE (or if unavailable sign
Affidavit below)
102:81v024401ct0e AFFIDAVIT
11S/HS PoA.doc Affiant sayeth that: The Corporate Seal for this corporation is no longer
available.
Signed: Date
As Notarized above
Wayne Seminoff Co- Unclaimed/Abc,,idoned Funds Locators
Established 1979
14400 Bel-Red Road, Suite 207 - Bellevue, WA 98007 1 (800) 762-7780
FAX (206) 643-8391
December 10, 1992
Mr. James Penman
City Attorney
City of San Bernardino
300 North D Street
San Bernardino, CA 92418
RE: Unclaimed funds owing to San Bernardino City in the amount of$1050.11
Dear Mr. Penman:
Thank you for returning my call today. As we discussed, the Wayne Seminoff Company has located
$1050.11 that belongs to San Bernardino City. Reclaiming these monies requires executing the
enclosed papers. In doing so, please follow the steps listed below.
1. The Limited Power of Attorney must be notarized but may be revised in any manner you
wish. A Corporate Seal should be affixed to the POA (lower right comer). In the event
that the seal is unavailable, the affidavit (lower right comer) to that effect must be signed.
2. The Power of Attorney must show a Tax I.D. number.
3. The signatory should include his or her corporate title and attach a business card or other
proof of affiliation.
4. Return completed documents in the envelope provided at your earliest convenience.
All legal and court costs incurred during the claiming process are included in our fee and will be
covered by our portion of the recovered monies, with no out-of-pocket expense to you. In the event
we are unsuccessful, there is no cost to you.
Please call me at 1 (800) 762-7780 during Pacific Coast business hours if you have any questions
concerning these papers. I look forward to hearing from you soon.
Sin erely,
Howard Saunder
enclosures 102181\102440.96/06 HS\HS wv;nstd�
i
Wayne Seminoff Co. Unclaimed/Abandoned Funds Locators
Established 1979
14400 Bel-Red Road, Suite 207 • Bellevue, WA 98007 (206) 643-7780
FAX (206) 643-8391
WHO WE ARE:
• Mr. Seminoff established the Wayne Seminoff Co. in 1979. To the best of our knowledge, it was the first of its kind
in the U.S.
• A staff of twenty-five specially trained professionals
• Headquartered in the Seattle area
• Research offices in New York City and Los Angeles
• Listed in Dun & Bradstreet
• Members of the International Probate and Research Association
• Member of National Federation of Independent Business'
• Bonded through Safeco
• Established legal or attorney representation nationwide
WE DO RECOVERIES FOR:
• Banks and Financial Institutions ■ Federal Agencies
• Fortune 500 Companies ■ City, County and State Governments
• Sole Proprietorships • Hospitals
• Lost Heirs ■ Individuals
• School Districts ■ Clients in South, Central America,
Europe, Australia, Canada and USA
FINDS ORIGINATE FROM:
■ Dormant U. S. Treasury Accounts
■ Stab Dated Warrants
■ Overpay menu
■ Non-deliverable Funds
(The above information is not generally available to the public)
NVE OFFER:
• Recoveries are handled with integrity
• We offer a principled approach with no attempt to mislead clients
• Client has no out of pocket expenses
• All recovery costs, including all legal fees, are met by Wayne Seminoff Co.
• Pleasant, courteous and helpful staff to assist you
PERFORMANCE
■ Upon receipt of the funds we release your check the following business day
The Wayne Seminoff Company has an excellent Dunn and Bradstreet rating. If you are not a member of D&B you can
inquire about us by calling D&B at (206) 728-8900 and asking for John Ninman, this service is only available when you
speak directly to Mr. Ninman, give him our file number 19-228-0638.
The time required to reclaim abandoned money varies with the case load of the jurisdiction from which the funds are
derived. We do everything possible to make sure you are comfortable with each step of the recovery process. Our
clients are encouraged to call us with any questions or concerns they may have.
promo.doc