HomeMy WebLinkAbout1991-02-14 - Resolution No. 91-06RESOLUTION NO. 91-06
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE
YORBA LINDA WATER DISTRICT
AUTHORIZING THE GENERAL MANAGER TO
TERMINATE AND CANCEL IMPROVEMENT
DISTRICT NO. 2 LIEN RIGHTS
WHEREAS, on January 23, 1984 the Yorba Linda Water District and C-W Associates
entered into an agreement for the sale of Series "B" Water Bonds titled
"Agreement Re Sale Of Series B Water Bonds Of Improvement District
No. 2 Of Yorba Linda County Water District, Payment Of Charges, Lien
And Mortgage Right With Power Of Sale"; and
WHEREAS, provisions of the agreement grant the District with a first lien on
undeveloped land with the right of foreclosure and power of sale in the
event of default resulting from failure to pay taxes and standby charges;
and,
WHEREAS, the District's lien rights terminate as to any parcel improved with a
structure and connected to retail service of the water system or those
parcels dedicated to a public entity; and,
WHEREAS, requests for release of the lien rights were submitted to and approved by
the Board of Directors and signed by the President and Secretary of the
District; and,
WHEREAS, it is the desire of the Board to establish a policy to allow the District
General Manager the authority to terminate and cancel the lien rights to
developed parcels connected to the water system or owned by public
entities.
NOW THEREFORE BE IT RESOLVED that the Board of Directors of the Yorba Linda
Water District does hereby resolve, determine and order as follows:
SECTION 1. The General Manager is hereby authorized to act on behalf of the
District to terminate and cancel the lien rights identified in the
"Agreement Re: Sale of Series "B" Water Bonds of Improvement District
No. 2 of Yorba Linda County Water District, Payment of Charges, Lien
and Mortgage Right with Power of Sale".
SECTION 2. The authority granted in Section 1 herein shall apply only to those
parcels described as follows:
a. any lot or parcel improved with a structure for residential, commercial
or industrial purposes, at the time a permanent metered retail water
service connection is made to such lot or parcel; or,
b. any portion or interest in Improvement District No. 2 dedicated to a
public entity, at the time of such dedication.
SECTION 3. The Release of Lien shall be on the form as attached hereto and marked
as Exhibit "A".
SECTION 4. This Resolution shall take effect immediately upon adoption by the
Board of Directors.
PASSED AND ADOPTED this 14th day of February, 1991 by the following called
vote:
AYES: M. ROY KNAUFT, JR., PAUL ARMSTRONG, STERLING FOX, ARTHUR C. KORN,
NOES: 0 AND CARL SCANLIN
ABSENT: 0
ABSTAIN: 0
(SEAL) President,
Yorba Linda Water District
AT TES
Secretary,
Yorba Linda Water District
0
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Exhibit "A"
to
Resolution No. 91-06
RECORDING REQUESTED BY:
YORBA LINDA WATER DISTRICT
WHEN RECORDED RETURN TO:
RELEASE OF LIEN
RELEASE OF LIEN FOR AGREEMENT
RE: SALE OF SERIES B WATER BONDS
OF IMPROVEMENT DISTRICT NO. 2 OF
YORBA LINDA COUNTY WATER DISTRICT,
PAYMENT OF CHARGES, LIEN AND MORTGAGE RIGHTS
WITH POWER OF SALE
The undersigned hereby certifies and declares that the above-captioned agreement by
and between C-W Associates, a California general partnership and YORBA LINDA
COUNTY WATER DISTRICT, a public entity, recorded on January 23, 1984, Instrument
No. 84-030114 in Official Records, County of Orange, is hereby terminated, canceled
and of no further force or effect and any mortgage or lien rights contained therein are
hereby discharged in accordance with the provisions of California Civil Code Section
2939 as to and only as to that certain real property situated in the County of Orange,
State of California, more particularly described in Exhibit "A" attached hereto, and by
this reference incorporated herein.
YORBA LINDA WATER DISTRICT
By:
General Manager
Date: