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March 9, 2000 Page 2 8. NEW ITEMS A. Termination Of Hill Canyon Regional Recreation Authority 1. Adoption Of Resolution Number 030900-A, A Resolution Closing Out Debts Of And Terminating Hill Canyon Recreational Facilities Joint Powers Authority 2. Authorization For Fund Transfers Pursuant To The Termination Of The Hill Canyon Regional Recreation Authority And Direction To Secure An Appraisal Of District Property Ward reviewed documentation, the background of the Hill Canyon Regional Recreational Authority, the financial agreement between the City of Thousand Oaks and the District, and procedural matters necessary to ratify the termination of the Authority, based upon the action of the HCRRA to terminate the project at their meeting of September 28, 1999. In response to Board inquiries, Ward explained that there have been no serious acquisition inquiries regarding the proposed site of the clubhouse, he discussed repayment strategies, and said that options for use or sale of the property will be evaluated by staff to determine what is in the best interest of the District and community. It was moved by Jacobson, seconded by Lange, and carried 4-0 to accept the financial report and approve Resolution Number 030900-A, A Resolution of the Board of Directors of the Conejo Recreation and Park District Closing out Debts of and Terminating the Hill Canyon Recreational Facilities Joint Powers Authority; that it be read in title only and all other readings be waived. Ward referenced the documentation, and said that the District owes the City $789,568, plus accrued interest from February 29, 2000 until the time the check is drawn, and the proposed recommendation would direct the General Manager to obtain an appraisal of the clubhouse site. It was moved by Lange, seconded by Holt, and carried 4-0 to appropriate $789,568, plus interest accrued after February 29, from the Insurance Trust Fund to pay off the note to the City of Thousand Oaks for the preconstruction costs for the Hill Canyon Regional Recreation Facility, and direct the General Manager to obtain an appraisal of the clubhouse site.