Resolution Number CRA 95-7-18-1185
RESOLUTION NO. CRA 95-7-18-1
DELBILIJ
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING ASSIGNMENT OF PRICE
ENTERPRISES, INC., PROMISSORY NOTE TO OLD MC, INC.
WHEREAS, the Community Redevelopment Agency of the City 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 on June 20, 1994; and,
WHEREAS, the Promissory Note was issued by the Agency pursuant to a
Disposition and Development Agreement (DDA) 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 Price Enterprises, Inc., wishes to now assign the Promissory Note
and the right to "auto tax revenues" to Old MC, Inc., a corporation created for accounting and tax
purposes; 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, by the San Juan Capistrano Community
Redevelopment Agency Board of Directors, City of San Juan Capistrano, California, as follows:
The Agency hereby approves the assignment of the Promissory Note and authorizes
and directs the Chairman and the Agency Secretary to execute the assignment.
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186
ATTEST:
This Resolution shall become effective after its adoption.
PASSED, APPROVED, AND ADOPTED this 18th day of
11995.
DAVID SWERDLIN, CHAIRMAN
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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 95-7-18-1 adopted by the San Juan Capistrano Community
Redevelopment Agency Board of Directors at a regular meeting thereof held on the 18th day
of July , 1995, by the following vote:
AYES: Directors Jones, Bart, Nash, Campbell and
Chairman Swerdlin
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL) C�
11(/l �L��--
CHERYL JOINSOM, AGE14CRE
Y SECTARY
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
M al 1174111 I I I►
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 20th day of July
1995, I caused to be posted:
RESOLUTION NO. CRA 95-7-18-1 , being
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING ASSIGNMENT OF PRICE
ENTERPRISES, INC., PROMISSORY NOTE TO OLD MC, INC.
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.
CI-IECK LIST
RES. NO. CRA r -15---)—d
-�
Chairman has signed
Secretary has signed
_7 Agency Seal stamped
All blanks typed in
"Absent" -t9—
"Noes"
"Abstain"
Copies sent to post __7—
file p
mail certified
W' 2fls
Legal Publication ordered to be published
(date)
No. Printed copies required
Remarks _
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Cheryl Johnso , Age cy Secretary
San Juan Capistrano Community
Redevelopment Agency
San Juan Capistrano, California
187