HomeMy WebLinkAbout10049 - San Joaquin Reservoir Trust AgreementRESOLUTION NO.10,049
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH APPROVING THE FIRST AMENDMENT
• TO THE SAN JOAQUIN RESERVOIR TRUST AGREEMENT
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
SIGN A LETTER OF EXECUTION
WHEREAS, the City Council of the City of Newport Beach on
the 23rd day of June, 1980, approved the execution of the San
Joaquin Reservoir Trust Agreement; and
WHEREAS, it is necessary to amend the San Joaquin Reservoir
Trust Agreement to accurately reflect that the City's interest in
the reservoir is in fee, and not a leasehold interest; and
WHEREAS, the San Joaquin Reservoir Trust Agreement as
persently constituted, holds that the City's interest is
leasehold and not fee; and
WHEREAS, all the parties to the Trust Agreement, including
The Irvine Ranch Water District, Mesa Consolidated Water
District, City of Huntington Beach, Metropolitan Water District,
a Municipal water district of Orange County, Coastal Municipal
Water District, Laguna Beach County Water District, South Coast
County Water District and The Irvine Company have agreed that the
First Amendment to the San Joaquin Reservoir Trust Agreement is
appropriate to accurately reflect the City of Newport Beach's fee
interest in the reservoir storage capacity; and
WHEREAS, the City Council has reviewed the First Amendment
to the San Joaquin Reservoir Trust Agreement, and desires to
approve said First Amendment and authorize the Mayor and the City
Clerk to sign a Letter of Execution of said First Amendment to
the San Joaquin Reservoir Trust Agreement
NOW, THEREFORE, BE IT RESOL17ED by the City Council of the
City of Newport Beach that the First Amendment to the San Joaquin
Reservoir Trust Agreement is approved and the Mayor and the City
Clerk are hereby authorized and directed to sign a Letter of
Execution of said Amendment.
ADOPTED this 26th day of May 1981.
Mayor
ATTEST: 1
=City Clerk
HRC /pr
5/26/81
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