HomeMy WebLinkAboutTC Res 2005-11-16 (2)
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RESOLUTION NO. 59-2005
A RESOLUTION OF THE TOWN COUNCIL OF THE
TOWN OF TIBURON ACCEPTING A BENEFICIAL
INTEREST IN A DEED OF TRUST TO SECURE A LOAN
TO THE TOWN MANAGER
WHEREAS, the Town has retained Alex McIntyre to serve as Town Manager for a period of
over five years; and
WHEREAS, as part ofthe Manager's compensation package, the Town funded a loan to the
Manager, secured by a deed of trust recorded against the Manager's then-residence, located at 151
Alice B. Toklas Place, No. 707, in San Francisco, CA ("Property");
WHEREAS, the Manager has sold his former residence and paid off the Town loan and
asked the Town to fund a new loan, to be secured by a first deed on trust on the Manager's New
Residence at 181 South Park Street, No.5, in San Francisco, CA ("Property");
WHEREAS, the Town Council of the Town ofTiburon has determined that it is in the public
interest to fund the requested loan and accept conveyance of the beneficial interest in a deed of trust
recorded against the Property to secure said loan.
r'- NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town ofTiburon that
the Town of Tiburon accepts the interest in the Property conveyed by the deed of trust attached
hereto and incorporated herein by reference. The deed of trusts hall be accepted by the Town Clerk
and shall be recorded with the Office of the County Recorder of San Francisco County. The Council
further authorizes the Mayor to execute any and all documents necessary and appropriate to
document this transaction.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town ofTiburon
on November 16, 2005 by the following vote:
AYES:
NOES:
ABSENT:
COUNCll..MEMBERS:
COUNCll..MEMBERS:
COUNCll..MEMBERS:
Berger, Fredericks, Gram, Slavitz, Smith
None
None
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DIANE CRANE LA-COP!, TOWN CLERK
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