Resolution Number CRA 00-6-20-1r,
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009
RESOLUTION NO. CRA 00-6-20-1
APPROVING ASSIGNMENT OF THE PRICE SMART, INC.. PROMISSORY NOTE TO
PRICE FAMILY CHARITABLE TRUST
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN
CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY, OF SAN JUAN
CAPISTRANO, CALIFORNIA, APPROVING ASSIGNMENT OF THE PRICE
SMART INC., PROMISSORY NOTE TO PRICE FAMILY CHARITABLE
TRUST
WHEREAS, the Community Redevelopment Agency of San Juan Capistrano
(the "Agency") previously issued a Promissory Note to the Price Company dated June 4,
1987, which was amended on October 1, 1991, and June 20, 1994; and,
WHEREAS, the Promissory Note was issued by the Agency pursuant to a
Disposition and Development Agreement which was executed on June 9, 1986, and the
"auto tax revenue" sharing was approved as the second amendment to the Disposition and
Development Agreement on June 20, 1994; and,
WHEREAS, the Promissory Note and the "auto tax revenue" were assigned
from the Price Company to Price Enterprises, Inc., on March 7, 1995, as a result of the
Price Costco merger; and,
WHEREAS, the Promissory Note and the "auto tax revenue" were assigned
from the Price Enterprises, Inc., to Old MC, Inc., on July 18, 1995, for accounting purposes.
WHEREAS, on June 4, 1996, Old MC, Inc., assigned the Promissory Note
and the right to "auto tax revenues" to PQI, Inc., a corporation created for accounting and
tax purposes; and,
WHEREAS, PQI, Inc., changed its name to Price Smart, Inc., on June 30,
1997; and,
WHEREAS, Price Smart, Inc., desires to assign the Promissory Note to the
Price Family Charitable Trust, a California non-profit public benefit corporation established
by Sol Price.
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NOW, THEREFORE, BE IT RESOLVED, that the San Juan Capistrano
Community Redevelopment Agency Board of Directors, City of San Juan Capistrano,
California, does hereby approve the assignment of the Promissory Note and "auto tax
revenue" from Price Smart, Inc. to the Price Family Charitable Trust.
PASSED, APPROVED, AND ADOPTED this 20th day of June, 2000.
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DAVID M. SW RDLIN, CHAIRMAN
ATTEST:
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, Agency Secretary of the San Juan Capistrano
Community Redevelopment Agency, DO HEREBY CERTIFY that the foregoing is a true
and correct copy of Resolution No. CRA 00-6-20-1 adopted by the San
Juan Capistrano Community Redevelopment Agency Board of Directors at a regular
meeting thereof held on the day of 2000, by the
following vote:
AYES: Directors Bathgate, Greiner, Hart, Campbell
and Chairman Swerdlin
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHE YL JO O , AGENCY S CRETARY
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss AFFIDAVIT OF POSTING
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, declare as follows:
That I am the duly appointed and qualified Secretary of the San Juan
Capistrano Community Redevelopment Agency;
That in compliance with State laws of the State of California and in further
compliance with CRA Resolution No. 98-12-15-2, and on the
, 2000, 1 caused to be posted:
RESOLUTION NO. CRA , being
day of
APPROVING ASSIGNMENT OF THE PRICE SMART, INC.. PROMISSORY NOTE TO
PRICE FAMILY CHARITABLE TRUST
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN
CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY, OF SAN JUAN
CAPISTRANO, CALIFORNIA, APPROVING ASSIGNMENT OF THE PRICE
SMART INC., PROMISSORY NOTE TO PRICE FAMILY CHARITABLE TRUST
in three (3) public places in the City of San Juan Capistrano, to wit: City Hall; Community
Center Reception area, Orange County Public Library.
Cheryl John n, Ngency Secretary
San Juan Capistrano Community
Redevelopment Agency
CHECK LIST San Juan Capistrano, California
RES. NO. CRA -L,,,20-7
Chairman has signed
_ Secretary has signed
Agency Seal stamped
All blanks typed in
"Absent" p --
"Noes"
"Abstain"
Copies sent to post
file &C20.
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mail _a- certified
Legal Publication ordered to be published
(date)
No. Printed copies required
Remarks
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