Resolution Number CRA 95-2-21-1169
RESOLUTION NO. CRA 95-2-21-1
APPROVING EXECUTION OF A REPLACEMENT NOTE
(KINOSHITA ENTERPRISES. L. P.1
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING THE EXECUTION OF A
REPLACEMENT PROMISSORY NOTE IN FAVOR OF KINOSHITA
ENTERPRISES, L. P., A CALIFORNIA LMTED PARTNERSHIP
WHEREAS, the Community Redevelopment Agency of the City of San Juan
Capistrano (the "Agency") has previously issued three notes on March 6, 1991, to the following
persons or entities: (1) Shigeru Kinoshita, $21,393.19; (2) The Shigeru Kinoshita Family Trust,
$3,177,958.95; and, (3) the Shigeru Kinoshita Children's Trust, $717,098.57 (collectively, the
"Original Notes"); and,
WHEREAS, the Original Notes were issued by the Agency pursuant to a Purchase
and Sale Agreement/Joint Escrow Instructions dated March 5, 1991 (the "Agreement"), with
Kinoshita Properties ("Kinoshita"), pursuant to which Kinoshita sold and the Agency purchased
certain real property described therein; and,
WHEREAS, in exchange for the Original Notes, the Agency desires to issue a
replacement promissory note (the "Replacement Note"), dated for convenience as of March 6, 1991,
in favor of Kinoshita Enterprises, L. P., a California limited partnership, in an amount totaling
$3,916,450.71; and,
WHEREAS, the Agency has duly considered the foregoing and believes that it is in
the best interests of the Agency and the health, safety and welfare of the residents of the City of San
Juan Capistrano, and in accordance with the public purposes and provisions of applicable state and
local law requirements.
NOW, THEREFORE, BE IT RESOLVED, that the San Juan Capistrano
Community Redevelopment Agency Board of Directors, City of San Juan Capistrano, California, do
hereby find, determine, order and resolve as follows:
The Agency hereby approves the Replacement Note and authorizes and directs the
Chairman to execute, and the City Clerk/Agency Secretary to attest, the Replacement Note and all
documents referenced in the Replacement Note necessary to effectuate the provisions of the
Agreement and the Replacement Note.
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170
SECTION 2.
This Resolution shall become effective after its adoption.
PASSED, APPROVED, AND ADOPTED this 21st day of
February 1995.
�i
lei
DAVID SWERDLIN, CHAIRMAN
ATTEST:
AGENCY SECIZW-TAkY
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 95-2-21-1 adopted by the San Juan Capistrano Community
Redevelopment Agency Board of Directors at a regular meeting thereof held on the 21st day
of February , 1995, by the following vote:
AYES: Directors Jones, Hart, Nash, Campbell and
Chairman Swerdlin
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHERYL JOfWSQM,AGENCYSECRETARY
-2-
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. CRA 83-12-20-1 and on the 23rd day of February
1995, I caused to be posted:
RESOLUTION NO. CRA 95-2-21-1 , being
APPROVING EXECUTION OFA REPLACEMENT NOTE
(KINOSHITA ENTERPRISES. L. P.)
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING THE EXECUTION OF A
REPLACEMENT PROMISSORY NOTE IN FAVOR OF KINOSHITA
ENTERPRISES, L. P., A CALIFORNIA LIMITED PARTNERSHIP
in three (3) public places in the City of San Juan Capistrano, to wit: City Hall; Old Fire Station
Recreation Complex; Orange County Public Library.
CHECK LIST
RES. NO.
y Chairman has signed
Secretary has signed
Agency Seal stamped
All blanks typed L _
"Absent"
"Noes"
"Abstain"
Copies sent to post
file
mail 2. certified
a
Legal Publication ordered to be published
(da te)
No. Printed copies required
Remarks
J�
Cheryl Johnso , Ag ncy Secretary
San Juan Capistrano Community
Redevelopment Agency
171