HomeMy WebLinkAbout2000-008 - Orange County Bankruptcy27
RESOLUTION NO. 2000-008
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA APPROVING A DISTRIBUTION OF NET
LITIGATION PROCEEDS, ADDITIONAL FUNDS AND
OTHER FUNDS RELATED TO THE ORANGE COUNTY
BAN KRUPTCY
V~-IEREAS, the City of Santa Ana is an Option A Pool Participant, as that term is
defined in the Second Amended Plan of Adjustment ("Plan") for the County of Orange
("County"); and,
VVHEREAS, the Representative, as that term is used in the Plan, has served a
Notice of Motion and Motion of the Representative for Order Approving (1) Distribution
of Net Litigation Proceeds; (2) Distribution in Respect of Assigned Excluded Claims;
(3) The Representative's Fee; (4) Certain Other Actions of the Representative; and
(5) The Representative's Final Report ("Final Report Motion"); and,
WHEREAS, the Pool Committee and the County have served a Notice of Motion
and Joint Motion for Order Approving Compromise Regarding Additional Funds and
Reclassification of Claims ("Additional Funds Motion"), which motion describes the
proposed division of certain "Additional Funds"; and,
WHEREAS, CITY OF SANTA ANA is entitled to a distribution of Net Litigation
Proceeds, Additional Funds and other funds as described in the Final Report Motion
and the Additional Funds Motion.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SANTA ANA, AS FOLLOWS:
1. Rod Coloma, Executive Director of the Finance & Management Services
Agency, is hereby designated to receive all distributions made pursuant to (i) the Final
Report Motion or any order of the Bankruptcy Court relating thereto; and/or (ii) the
Additional Funds Motion or any order of the Bankruptcy Court relating thereto.
2. All distributions to which the City is entitled under or pursuant to the Final Report
Motion and/or the Additional Funds Motion should be delivered to Rod Coloma.
3. The form of the Release and Settlement Agreement which is attached to the
Additional Funds Motion be and hereby is approved, and the Mayor and the Clerk of the
Council are hereby authorized to execute the Release and Settlement Agreement on
behalf of the City, with such non-substantive changes as may be approved by the City
Attorney.
ADOPTED this 7th day of February, 2000.
Resolution No. 2000-008
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A'I-rEST:
~p,..Pat~ia E. Healy
Clerk of the Council
COUNCILMEMBERS:
Pulido Aye
Lutz Aye
Bist Aye
Christie Aye
Franklin Aye
McGuigan Aye
Moreno Aye
m ,O. Sepl~p~letch~
ey
CERTIFICATE OF ORIGINALITY
State of California
County of Orange
I, PATRICIA E. HEALY, Clerk of the Council, do hereby certify the attached Resolution
No. 2000-008to be the original resolution adopted by the City Council of the City of
Santa Ana on February 7, 2000.
~'~ Clerk~ the Council
City of Santa Ana
Resolution No. 2000-008
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