RECOMMENDATION(S):
ADOPT Resolution No. 2015/236, WAIVE the payment of interest in the approximate amount of $17,145,86 and accept $15,000 as payment in full satisfaction of the $26,130.44 judgment against Sherrie Neal, and DIRECT County Counsel, or designee, to file an Acknowledgment of Satisfaction of Judgment with the Court upon payment of that sum.
FISCAL IMPACT:
The County will recover $15,0000.
BACKGROUND:
On December 15, 2008, a judgment in the amount of $26,130.44 was entered against Sherrie Neal in an action brought by the County. On December 22, 2008, the County recorded a lien against the Property owned by Ms. Neal. The entire amount of the judgment remains unpaid. Under Code of Civil Procedure section 685.010, interest in the amount of 10% per annum has accrued against the principal amount of the judgment.
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