Reso 0506-01/1979 RESOLUTION NO. 506
RESOLUTION OF THE BOARD OF DIRECTORS OF
THE SAN MARCOS COUNTY WATER DISTRICT
APPROVING AN AMENDMENT TO AGREEMENT RE
LETTER OF CREDIT
Assessment District No. 76-3
WHEREAS, this Board of Directors has heretofore approved an
agreement between the San Marcos County Water District and the La Costa
Land Company, which agreement is dated the 18th day of December, 1978,
and is entitled "AGREEMENT RE LETTER OF CREDIT, SAN MARCOS COUNTY WATER
DISTRICT, ASSESSMENT DISTRICT NO. 76-3" (herein "the Agreement"); and
WHEREAS, the La Costa Land Company has proposed an amendment to
the Agreement pursuant to which City National Bank would be substituted
in the place of Security Pacific National Bank of purposes of the Agree-
ment; and
WHEREAS, said proposed amendment is set forth in an agreement
entitled "AMENDMENT TO AGREEMENT RE LETTER OF CREDIT, SAN MARCOS COUNTY
WATER DISTRICT, ASSESSMENT DISTRICT NO. 76-3" and this Board of Directors
wishes to approve said agreement,
NOW THEREFORE, the Board of Directors of the San Marcos County Water
District HEREBY DOES DETERMINE,. RESOLVE, AND ORDER that the aforesaid
agreement entitled, (AMENDMENT TO AGREEMENT RE LETTER OF CREDIT, SAN MARCOS
COUNTY WATER DISTRICT, ASSESSMENT DISTRICT NO. 76-3" is approved; and the
President of this Board of Directors and the Secretary of the District
hereby are authorized and directed to execute the same on behalf of
the District.
ASOPTED, SIGNED AND APPROVED this 8th of January, 1979.
' ' Marcos County
(SEAL)
ATTEST:
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO )
I, JAMES F. McKAY, Secretary of the San Marcos County Water District,
California, DO HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Board of Directors of said District at a meeting of said
Board of Directors held on the 8th day of January, 1979, and that it was
- so adopted by the following vote.
AYES: DIRECTORS: Keebaugh, Smith, Ferguson, Mahr, Blanchard
NOES: DIRECTORS: None
ABSENT: DIRECTORS: None
ABSTAIN: DIRECTORS: None
(SEAL)
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STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
I, JAMES F. McKAY, Secretary of the San Marcos County Water District,
California, DO HEREBY CERTIFY that the foregoing is a full, true and correct
copy of Resolution No. 506 of the Board of Directors of said District,
and thet the same has not been amended or repealed.
DATED: January 9 , 1979.
(SEAL)
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AMENDMENT TO AGREEMENT RE LETTER OF CREDIT
SAN MARCOS COUNTY WATER DISTRICT
ASSESSMENT DISTRICT NO. 76-3
THIS AGREEMENT is made this 8th day of January, 1979, by and between
the San Marcos County Water District, a political subdivision of the
State of California (herein "the District") and La Costa Land Co., a
California Corporation (herein "the Landowner"),
RECITALS:
A. The District and the Landowner have heretofore entered into an
agreement, dated the 18th day of December, 1978, entitled "AGREEMENT RE
LETTER OF CREDIT, SAN MARCOS COUNTY WATER DISTRICT NO. 76-3" (herein "the
Agreement"), which made provisions for the issuance of a letter of credit
by Security Pacific National Bank and which referred to said bank as "the
Bank" for the purposes of said Agreement.
B. The Landowner wishes that such letter of credit be issued by
City National Bank and that the Agreement be amended to so provide, and
the District is agreeable to such change.
AGREEMENT
NOW, THEREFORE, the District and the Landowner hereby agree as
fol 1 ows:
1. The Agreement hereby is amended to substitute City National
Bank in the place of Security Pacific National Bank, and all references
in the Agreement to "the Bank" shall be deemed to be to City National Bank.
2. Except as specifically amended by Section 1 hereof, the Agree-
ment and each and every provision thereof shall remain in full force and
effect as set forth therein.
IN WITNESS WHEREOF, the parties hereto have executed this Agree-
ment as of the day and year first hereinabove written.
SAN MARCOS COUNTY WATER DISTRICT
LANDOWNER
By
By
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