RES-9224 Approving Final Orange County Bankruptcy DistributionRESOLUTION NO. 9224
A
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ORANGE APPROVING FINAL ORANGE COUNTY
BANKRUPTCY DISTRIBUTION AND AUTHORIZING
DESIGNATE,D PERSONNEL TO RECEIVE
FUNDS. (CERTIFICATE OF ADOPTION)WHEREAS,
the undersigned is the duly appointed or elected Mayor of the City of Orange (
the "Option A Pool Participant"). At a duly held meeting of the City Council of the City
of Orange held on February 8, 2000, the following resolutions were adopted.WHEREAS,
the City of Orange is an Option A Pool Participant, as that term is defined in
the Second Amended Plan of Adjustment ("Plan") for the County of Orange ("Orange"); and WHEREAS,
the Representative, as that term is used in the Plan, has served a Notice of Motion
of the Representative for 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'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,
the City of Orange 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 Orange that
Helen Bell, Finance Director, or Jeanne Arehart, Assistant Finance Director, 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
ofthe Bankruptcy Court relating thereto.BE
IT FURTHER RESOLVED that all distributions to which the City of Orange is entitled
under or pursuant to the Final Report Motion and/or the Additional Funds Motion should
be delivered to Helen Bell, Finance Director, or Jeanne Arehart, Assistant Finance Director.
BE IT FURTHER RESOLVED that the form of the Release and Settlement
Agreement which is attached to the Additional Funds Motion be and hereby is approved, and
that Mayor Joanne Coontz and Helen Bell, respectively be and hereby are authorized and
directed to execute and deliver the Release and Settlement Agreement on behalf of the City of
Onmge.
ADOPTED
the 8th day of February, 2000.ATTEST:
I~.~~
Cassandra
J. Cat , CIty Clerk of the CIty of Orange I
hereby certify that the foregoing Resolution was duly and regularly adopted by the City
Council of the City of Orange at a regular meeting thereof held on the 8th day of February,
2000, by the following vote:AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL
MEMBERS: MURPHY, SLATER, COONTZ, SPURGEON l ALVAREZ COUNCIL
MEMBERS: NONE COUNCIL
MEMBERS: NONE COUNCIL
MEMBERS: NONE DAD:
ajj Reso.
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