Board of Supervisors
Approve Consensus Recovery Plan Agreement: Other Pool
Participant Committee Gives Their Approval
September 7, 1995 - Santa Ana,
California - At a special Board of Supervisors
meeting this morning, Board members gave unanimous approval
to the Consensus Recovery Plan Agreement with the Investment
Pool Participants Committee , which contains the legal
terms that detail the Consensus Recovery Plan. "The
agreement is one of two important steps toward finalizing
the Consensus Recovery Plan representing countless hours
of negotiations with representatives of pool participants
," stated Board Chairman Gaddi H. Vasquez. "We
are very pleased with the agreement and the progress that
has been made locally. The remaining step is now to get
enabling legislation passed in Sacramento."
The Consensus Recovery Plan which was adopted in concept
over the past several weeks by the Board of Supervisors,
OCTA, the League of Cities and the Orange County Business
Council. The agreement is a legally binding document that
all parties have agreed to adhere to throughout the implementation
of the workout plan. " We have submitted the necessary
legislation required to implement the Consensus Recovery
plan which mirrors the agreement that has now been approved,
stated Jan Mittermeier, County Executive Officer.
The County's next priority is to secure legislative and
gubernatorial approval of the tools needed to effectuate
the Consensus Recovery Plan.
***Note: Copies of the Agreement are available upon request
or at the County Hall of Admisntration, Third Floor.