Minutes - Board - 1997-03-04COSTA MESA SANITARY DISTRICT
• Board of Directors Special Meeting held March 4, 1997
A
The Board of Directors of the Costa Mesa Sanitary District attended a duly
noticed Special Meeting on March 4, 1997 at 11:30 a.m., in Conference
Room 1 -A at the Civic Center, 77 Fair Drive, Costa Mesa.
Directors Present: James Ferryman, Arthur Perry, Nate Reade, Arlene
Schafer, Dan Worthington
Staff Present: Robin Hamers, Manager /Engineer; Alan Burns,
General Counsel; Joan Revak, Clerk of the District;
Susan Temple, Treasurer; Dawn Guastella, Permit
Specialist
Ms. Temple presented an, update on the Bankruptcy Proof of Claims. Ms.
Temple reported that Staff met with County Counsel on February 19, 1997
and reached an agreement with the County of Orange on all of the Costa
Mesa Sanitary District's proof of claims filed November 30, 1995. The
agreement was reached after the District filed a response to the County's
• objection regarding all of the claims filed. The County will be preparing a
stipulation for the District to execute. By agreeing, the resolution of the
claims will be kept out of the U. S. Bankruptcy Court.
The County still owes the District $40,353.86 in administrative claims and
$582,073.38 in claims representing the District's remaining pool
investment. The pool claims will be paid from proceeds of successful
litigation from Merrill Lynch, et al. Administrative funds will be paid from
"available revenue" from the County General Fund as defined in the
Comprehensive Settlement Agreement ( "CSA ").
Director Reade moved to authorize the District's General Counsel to execute
the Claims Stipulation as agreed to by District Staff and County Counsel on
February 19, 1997. Director Perry seconded the motion. The motion
carried 5 -0.
The meeting was adjourned at 11:50 a.m.
Presiden