Title
Auditor-Controller recommending the Board authorize the Auditor-Controller to notify all valid claimants of the Board's action and disburse excess proceeds as determined by the Board.
Claimant: Franchise Tax Board
Type: Lienholder of Record
Recommended Distribution: $14,589.10
Claimant: Global Discoveries Ltd.
Type: Assignee of Person with Title of Record
Recommended Distribution: $14,589.11
Claimant: Unclaimed
Type: R&T Code §4674
Recommended Distribution: -0-
Body
DEPARTMENT RECOMMENDATION
The Auditor-Controller recommends that the Board of Supervisors authorize the Auditor to disburse the excess proceeds as follows:
Claimant: Franchise Tax Board
Type: Lienholder of Record
Recommended Distribution: $14,589.10
Claimant: Global Discoveries Ltd.
Type: Assignee of Person with Title of Record
Recommended Distribution: $14,589.11
Claimant: Unclaimed
Type: R&T Code §4674
Recommended Distribution: -0-
Subsequent to board action, the Auditor-Controller recommends that the Board of Supervisors authorize the Auditor to notify all valid claimants of the Board's action(s) & disburse proceeds as determined by the Board.
DISCUSSION / BACKGROUND
On November 01, 2013, a Sale of Tax Defaulted Property was conducted by the Treasurer-Tax Collector's Office. Parties of interest, as defined by Revenue & Taxation (R&T) Code §4675, were notified that the property identified as APN 074-260-25-100 was sold for $29,178.21 more than the amount required to satisfy delinquent taxes & costs of the sale. Valid claim(s) have been filed for the excess proceeds due to the sale of the property. The Auditor-Controller has reviewed the claim(s) and supporting documents and is of the opinion that the claimant(s) named herein are entitled to the proceeds.
ALTERNATIVES
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION
Chief Administrative Office concurs with the Auditor's recommendation.
FINANCIAL IMPACT
No Fiscal Impact
FOLLOW UP ACTIONS
The Audi...
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