Resolution Number CRA 96-6-4-1235
RESOLUTION NO. CRA 96-6-4-1
M 152 2,13 Faimura 141 NEW -111" ",
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING ASSIGNMENT OF THE
OLD MC, INC., PROMISSORY NOTE TO PQI, INC. (PRICE CLUB
PLAZA)
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 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 revenues" were assigned from
Price Enterprises, Inc., to Old MC, Inc., on July 18, 1995, for accounting purposes; and,
WHEREAS, the Old MC, Inc., wishes to now assign the Promissory Note and the
right to "auto tax revenues" to PQI, 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:
SECTION 1,
The Agency Board of Directors hereby approves the assignment of the Promissory
Note and authorizes and directs the Chairman to execute and the Agency Secretary to attest, the
assignment.
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SECTION 2.
This Resolution shall become effective after its adoption.
PASSED, APPROVED, AND ADOPTED this 4th day of
June 1996.
DAVID M. SWERDLIN, CHAIRMAN
ATTEST:
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 96-6-4-1 adopted by the San Juan Capistrano Community
Redevelopment Agency Board of Directors at a regular meeting thereof held on the 4th day
of June , 1996, by the following vote:
AYES: Directors Jones, Hart, Nash, Campbell and
Chairman Swerdlin
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
C RYL JWITV60N, AGENCY SECRETARY
-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 duty 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 6th day of June
1996, I caused to be posted:
RESOLUTION NO. CRA 96-6-4-1 , being
1jililIZ1011 lKi ilrlff11111W rim INW01130 I W.11),
6 ' 1 1►
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING ASSIGNMENT OF THE
OLD MC, INC., PROMISSORY NOTE TO PQI, INC. (PRICE CLUB
PLAZA)
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!Z —6—q—
Chairman has signed
Secretary has signed
Agency Seal stamped
All blanks typed in
"Absent"
"Noes"
"Abstain"
Copies sent to post F
file 0 zi-a
mail certified
Legal Publication ordered to be published
(date)
No. Printed copies required
Cheryl JohnsoVAgeVy Secretary
San Juan Capistrano Community
Redevelopment Agency
San Juan Capistrano, California
Remarks
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