HomeMy WebLinkAboutRes. 2026-21R�so�.uT�oN No. �o��-�i
A RESDLUTION OF THE MAYOR AND Cfl[INCIL ❑F THE T�WN �I�
FQ[JNTAIN HILLS, MARICOPA COLINTY, ARIZ�NA, IIPPRDVING
ARTICLES C}F ❑1550I�UTIQN QF' 'I'HE '[`DWN QF FCIL]IVTAIN HILLS,
ARIZ�NA M[]NICIPIIL PRUPERTY C[]RP[]RATIUN AN❑ CERTAIN
MATTERS RELATED THERETD
WHEREAS, the Town ❑f F�untain Hills, Arizoila Municipal Pz'operty
Ct�t'poration, an Ari�ona nanproFit coi-poration [the "Corporatian"}, was originally
❑r�aniaed for the purpase ❑f assistitlg the Tawn of FounCain Hi1ls, Ari7ona [the
"Town"], in acquirii�g, financing, canstructing, impro�ing or equipping real ❑r
personal p�-operty far any ci�i�, mt�nicipal or go�ern��ie:ital ptirpose desired by the
'I'own, and thc Mayor and Council ❑t the Tawn [the "Towti Gou�tcil"� ha�e
dete�•mined the Town no lo�iger requires such assistance; aizd
WHEREAS, the T�wn Coiincil has recei�ed aiid duly co�zsi�ered the proposed
Elrticles of Dissolutio�z of the Corporation, a co��y af which is attached hereto as
Exhibit A; ancl
WHEREAS, it is incumbent upan the Tawn Council to appra�e such Articles
of Dissolution oF the Cnrporatian and appro�e tlze Corporatioil's intent t❑ take such
necessaz-y aild �pprapriate additiasial a�tions described in the Carpnration's Plan of
Dissolutian adoptec� by t�ie Corporation's goard of Directors ❑n August 27, 2�]Z6,
in�lttding, withatit limitatian, filing of st�ch Ai-ticles of Dissolution with the I1ri�ona
Coi-pQration Commissiait; and
WHEREAS, the Town Council has determined that it is expedieilt, ad�isable
and i�i the public interest of the Town and the residents thereof that the Carporation
be dissol�ed as pra�ided by law; and
VIIH�R�AS, upon dissolution aFthe Coi-poration, all ❑f the Carporatiotl's
assets, if any, remaining after the payment of all its liabilities shall �est in and be
YransFerred ta the Town, withaut consideration of any l�ind ar i�ature; and
WHEREAS, tlle Cnrporatio�l's �oard af Dire�tars �Zas determi�zed the
Carporaki�n has nn ]cnawn �iabilities;
N�W, THEREF�RE, BE IT RESOLWEU BY THE MAYUR AN❑ COUNC�L ❑F THE
T�WN OF FOLINTAIN HILLS, ARIZONA, as follnws:
SE�:TI�IV 1. The dissolutian of fihe Corporatian is het�eby appra�ed.
5EC'J'1DN 2.'Che Articles ❑ii7issolutian af the �orporatian, ir� the form
appen�ied hei-eto as Exhibit A, are t�ereby appi-o�ed, and it is herehy authoi-ized that
the same he filed with khe Arizona Corporation Commission.
SECTI�N 3. All actions hei-etaf�are and hereaFter taken by t�le Town Ma�lagei-,
'I'own Attnrney, and the ChieF Fi�aanciai C]fficer af t�le Town, ar the designees af any
af them including, witl�out limitation, legal caunsel to the Town and the
Corporatiort, in conrtection with the dissolutian af the Corporation are hereby
ap�aro�ed. The Tnwn Manager,'Cawn Attor�ley, and the ChieF Financial DfFi�er oFthe
Tawn, ar the desig�tees af any of t�lem, are each hei-ek�y authoriaed ta execute all
dncuments, instrume�zts and cez•tifi�ates ial cor�ne�tian with the dissnititin�i �f the
Corporatioci.
SECTION 4. The Town accepts all oF the Corpa�'akion's remaining assets
withaut cansideratian of any kind ar nature.
PA55ED AN� A�OPTE❑ hy the Maynr and Cauncil vf the Town nf Fountain
Hills, Arizona, tliis 15th day af 5eptember, 2U26.
FOR THE TOWN OF NOUNTA[N HI1,[,5:
ATTEST�D T�:
�� k� , _�t .�--
Tawn C erIc ,�
i�
�
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Mayor (�
R�VtEW�❑ BY:
�J -�'�`'� �I2�►'i'!.�'�
Tawn M�nager
APPR�VED AS TD F�RM:
1 � �. � �
T n tto���zey � -
CERTIFICATION
I, Angela Padgett-Espirrtu, the duly �ppointed Dept�ty Town Clerlc oF the Town nf
Fo�intaii� Hills, Ai-izona, do het-eby cei-tify that the abo�e and Foi-egoing Resnlution No,
2�ZC�-Z1 was duly passed by t�1e Mayor and t�1e Cnui��il nf the'I'�wn nF Fountain l Ii1ls,
Arizana, at a Re ular Meeting held an 5eptember 15, Z�LG, and t e roll call of the �ote
thereon was � Ayes, � Nays, and that the Mayor and Cauncilmembers
were prese�li thereat.
I7AT��: �`'�. 1 � , 2[]26
1 ` ' �� � -
� ti� �-., �-
Angel� P�lgeit-Espiritu eputy Tawn Clerlc
Town of Fotintain Hills
EXHIBIT A
TD
RE50LL1TIaN NO. 2U26-ZZ
[Articles af Dissolution of Tawn af Fotintain Hilis, I1ri�c�n� MLinicipal Property
Corporation]
5ee following pages
ExHI81T A
ARTICLES DF DI550LUTION
CII�
TOWiV OF FDUNTAIN H[LLS, ARIZONA MUNICIPAL PROPERTY C�RPnR11T[ON
Pursua�lt ta t11e provisia�is ❑f Section 1D-114�1 of t11e Ai•izozla �e�ised Statukes, tlie
undersigned, the duly authorized afFicer of the Tawn of Fountain Hills, A=•ico�la
Mu�zi�ipal Pr-aperty Corporati�n, a�z Ariaona noizprof'it coi-poration [the
"Corparation"], hereby submits tlie fallowi�ig Articles af I3issnlutioil for fiting Gvith
the Arizana Coi-por-atinn Commissinn:
1. The name af Che corporation is Town of Fountain E{ills, Ari�ona Mtinicipal
Property Corparation (the "Carporation"}.
2. The Corpnration was incnr�arated ❑n September 14, 199$.
3. The GarporaCian does not ha�e members.
4. Dissolution of the Corporation was duly aLithorized by act af the Board of
llirectars ❑f the Corparation on At��ust 27, Z02Fi, pending appro�al by the
Mayar and C�un�il of the Town of Fountain Hills, Arizon� [the "Tawn
Caui�cil"].
5. Appraval af the dissalutiQn af the Carparation was duly authori�ed by the
Town C�uncil an [5eptember 15], 2D2b.
�aCed , 2026.
TOWN UF F[7llNTA1N HILLS,
ARIZDNA MiFNICIPAL PROPERTY CORPORATIDN
By�
Name:
Title: President, Baai-d of' nirectors
Acicnowledged by:
BY� ., ., . . . _ . _ - ..�, ,
Name: Be�elyn J. Bender
Title: 5ecretary, Baard af �irecto�•s
F_�.i�[f1A�i.Y!] ��]f.'�.Y/7�� MDhI
❑F
T�WN OF FUi1NTItIN HILLS, ARIZONA MUNICIPAL PRUPERTY CUkPDRA'[�I{3N
Pursu�nt t❑ thc pro�isions of' S�ction 10-114(31 of' thc Arizoria Re�ised Statutes, the
tindcrsigncd, thc duly authorizcd nf'f'i�cr af' thc T'own of Fountain Hills, Arizona Municipat
Pruperty C'orporatio�l. an 1�rizona nonpraf�it corporation [tk�e `�C'orporatiori"}, herehy suhmits tlie
following Articles of Dissolution for filing with the Arizana Cot�poration Commission:
l. The na�ne nf the cnrporali��1 i5 T«wn �i Fotmtain IIills, Arizona Muni�ipal Property
Cnr��oratinn (the "Cotpnratirfti").
Z. The Cnrporatign was incorpc�rated on Septem�er 14, I9g�.
3. Thc Carparation dacs nat ha�c mcmbcrs.
4. Dissnlution af the Cor�aoration was duly authnri•r_ed by a�t of thc Soard of Dircctars of
the Corporation on August 27, 2C126, pending appro�al by the Mayor and C'nuncil nf
t4�e Tow°n of ��untain Hills, Arizona {the '`"I�owri C'nL�ncil").
5. Appro�al nf thc dissnl�itio�i of the Gnr�nratin�i was duly authorized by the T'own
C'ouncil on S�ptcrnbcr i 5, ZO2�.
Dated September E�, 2U2b.
'I'CJWN QF F(7L]NTAIN HILLS, ARIZONA
MUNIC'IPAL PR�PERTY C:C7RP�RATIDN
�
By: � � �
Name: i� �,`Y�-+' L � �e� �1F�
Title: President, Board of irectnrs
Ack.nt�wledged by:
� � _....
��_...
5■1� ?� � '.n \.tl. �.. � 3
Name: ,] �E t'��_ M i'� .�-��.1 )�tt�4
Titic: Sccret , Board o�Directors �