Resolution Number CVWD 00-2-15-1157
RESOLUTION NO. CVWD 00-2-15-1
I
ACCEPTING SETTLEMENT AGREEMENT AND LIMITED RELEASE -
ORANGE COUNTY BANKRUPTCY
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CAPISTRANO
VALLEY WATER DISTRICT, AUTHORIZING CERTAIN ACTIONS AND
EXECUTION OF DOCUMENTS RELATING TO THE FINAL REPORT OF
THE ORANGE COUNTY BANKRUPTCY AND RELATED RECOVERY
LITIGATION
WHEREAS, the Capistrano Valley Water District is an Option A Pool
Participant, as that term is defined in the Second Amended Plan of Adjustment for the
County of Orange; and,
WHEREAS, on February 2, 2000, Representative Thomas Hayes will seek
to have court approval of the Representative's Final Report, which sets forth all of the
settlement and litigation proceeds, together with all of the related earnings and expenses,
and the proposed allocation of the net amount to the District; and,
WHEREAS, the County of Orange and the Option A Pool Participants have
agreed that any funds relating to the liquidation of the Pools determined later to exist would
' be distributed one-half ('/2) to the County, and one-half ('/z) to the Option A Pool
Participants; and,
WHEREAS, additional funds have been determined to exist in the aggregate
amount, including interest, of $17,884,999.53; and,
WHEREAS, a Settlement Agreement has been submitted to the District, as
an Option A Pool Participant, in order to receive its share of the additional funds; and,
WHEREAS, the District has been requested to accept the settlement and
release; and,
WHEREAS, the District has been further requested to designate certain
individuals to execute, on behalf of the District, any and all of the final documents and to
accept possession of the settlement proceeds.
NOW, THEREFORE, the Capistrano Valley Water District Board of Directors,
does hereby DECLARE and RESOLVE:
Section 1: That the Capistrano Valley Water District hereby accepts
Representative Thomas Hayes' Final Report, setting forth all of the settlement and litigation
proceeds, together with all related earnings and expenses, and the allocation of the net
amount to the District.
-1-
160
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 Clerk of the Capistrano Valley
Water District;
That in compliance with State laws of the State of California and in further
compliance with District Resolution No. 99-1-5-1, on the 17th day of
February , 2000, 1 caused to be posted:
RESOLUTION NO. CVWD oo-2-1S-1 , being
ACCEPTING SETTLEMENT AGREEMENT AND LIMITED RELEASE -
ORANGE COUNTY BANKRUPTCY
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CAPISTRANO
VALLEY WATER DISTRICT, AUTHORIZING CERTAIN ACTIONS AND
EXECUTION OF DOCUMENTS RELATING TO THE FINAL REPORT OF
THE ORANGE COUNTY BANKRUPTCY AND RELATED RECOVERY
LITIGATION
in three (3) public places in the City of San Juan Capistrano, to wit: City Hall; Community
Center Reception area, Orange County Public Library.
CvwD CHECK LIST
RES. NO. 6" 00- -15 - I
Chairman has signed
—% Secretary has signed
-� Agency Seal stamped
All blanks typed in
"Absent" 4p-'
"Noes" 01
"Abstain"
Copies sent to post
file �m
mail 7
e •n
Legal Publication or
No.
Remarks
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