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BUSINESS CALENDAR <br /> <br />AGREEMENTS <br /> <br />25.A. <br /> <br />JOINT BANKRUPTCY AGREEMENT FOR RESOLUTION OF CLAIMS <br />AGAINST THE COUNTY OF ORANGE <br /> <br />Councilmembers Mills and Espinoza and Mayor Pro Tern Richardson indicated their intentions to <br />abstain from voting on the proposed Joint Bankruptcy Settlement Agreement. <br /> <br />Councilmember Mills suggested that deleting the provision pertaining to payment of legal fees <br />(Clause 10.j) from the Agreement would save the City approximately $216,000. <br /> <br />Deputy City Attorney Doris Felman clarified several points in the Agreement and noted approval <br />by March 1, 1996 would allow for the earliest distribution of available funds to the City. <br /> <br />Motion: <br /> <br />Amend agreement by deleting Clause lO.j and authorize its execution by the Mayor <br />and Clerk of the Council. <br /> <br />JOINT BANKRUPTCY AGREEMENT FOR RESOLUTION OF CLAIMS <br />AGAINST THE COUNTY OF ORANGE - With the County of Orange and the <br />official Investment Pool Participants' Committee to ensure that the City receives <br />funds due from the County as funds become available for distribution - Finance and <br />Management Services AGMT 96-017 <br /> <br />MOTION: Pulido <br /> <br />SECOND: McGuigan <br /> <br />Councilmember Moreno stated he had received a copy of the agreement only 30 minutes before <br />the Council meeting and requested a continuance to allow him time to review the document. <br /> <br />Mayor Pulido suggested the Council hold an additional meeting to act on this item prior to the <br />March 1, 1996 deadline. <br /> <br />Substitute <br />Motion: Continue consideration of the Bankruptcy Agreement to February 26, 1996. <br /> <br />MOTION: Lutz <br /> <br />SECOND: Moreno <br /> <br />VOTE: AYES: Lutz, McGuigan, Moreno, Pulido <br /> NOES: None <br /> <br />ABSENT: None <br />ABSTAIN: Espinoza, Mills, Richardson <br /> <br />CITY COUNCIL MINUTES 47 FEBRUARY 20, 1996 <br /> <br /> <br />