Laserfiche WebLink
27 <br /> <br />RESOLUTION NO. 2000-008 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING A DISTRIBUTION OF NET <br />LITIGATION PROCEEDS, ADDITIONAL FUNDS AND <br />OTHER FUNDS RELATED TO THE ORANGE COUNTY <br />BAN KRUPTCY <br /> <br /> V~-IEREAS, the City of Santa Ana is an Option A Pool Participant, as that term is <br />defined in the Second Amended Plan of Adjustment ("Plan") for the County of Orange <br />("County"); and, <br /> <br /> VVHEREAS, the Representative, as that term is used in the Plan, has served a <br />Notice of Motion and Motion of the Representative for Order Approving (1) Distribution <br />of Net Litigation Proceeds; (2) Distribution in Respect of Assigned Excluded Claims; <br />(3) The Representative's Fee; (4) Certain Other Actions of the Representative; and <br />(5) The Representative's Final Report ("Final Report Motion"); and, <br /> <br /> WHEREAS, the Pool Committee and the County have served a Notice of Motion <br />and Joint Motion for Order Approving Compromise Regarding Additional Funds and <br />Reclassification of Claims ("Additional Funds Motion"), which motion describes the <br />proposed division of certain "Additional Funds"; and, <br /> <br /> WHEREAS, CITY OF SANTA ANA is entitled to a distribution of Net Litigation <br />Proceeds, Additional Funds and other funds as described in the Final Report Motion <br />and the Additional Funds Motion. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA, AS FOLLOWS: <br /> <br />1. Rod Coloma, Executive Director of the Finance & Management Services <br />Agency, is hereby designated to receive all distributions made pursuant to (i) the Final <br />Report Motion or any order of the Bankruptcy Court relating thereto; and/or (ii) the <br />Additional Funds Motion or any order of the Bankruptcy Court relating thereto. <br /> <br />2. All distributions to which the City is entitled under or pursuant to the Final Report <br />Motion and/or the Additional Funds Motion should be delivered to Rod Coloma. <br /> <br />3. The form of the Release and Settlement Agreement which is attached to the <br />Additional Funds Motion be and hereby is approved, and the Mayor and the Clerk of the <br />Council are hereby authorized to execute the Release and Settlement Agreement on <br />behalf of the City, with such non-substantive changes as may be approved by the City <br />Attorney. <br /> <br />ADOPTED this 7th day of February, 2000. <br /> <br />Resolution No. 2000-008 <br /> Page 1 of 2 <br /> <br /> <br />