Item Text

28. BANKRUPTCY SETTLEMENT ESTATE OF CAREFREE MULE TRAIN VENTURES LLC, ORIX CAPITAL MARKETS LLC FKA ORIX REAL ESTATE MARKETS LLC Pursuant to A.R.S. §42-18352 accept a proposed settlement with bankrupt, Estate of Carefree Mule Train Ventures LLC, Orix Capital Markets LLC fka Orix Real Estate Markets LLC, in regards to Carefree Inn and Resort, for its payment of a total of $81,693.89 to the Treasurer toward the amount owed for personal property taxes and accrued interest of $82,324.30 (approximately $5,169.72 of which is interest) in exchange for abating a portion of the interest-in the approximate amount of $630.41. Personal Property taxes and/or accrued interest, or a portion thereof, may be abated pursuant to ARS 42-18352 when cost of pursuing the statutory lien sale and collection procedures or the cost of the seizure and sale of personal property pursuant to ARS 42-18401 would equal or exceed the revenue that could be derived. See ARS 42-18351(4). A review was conducted by the Treasurer, and it appears that the cost of pursuing the statutory lien sale and collection procedures, and the cost of seizure and sale of the personal property pursuant to ARS 42-18401, would equal or exceed the revenue that could be generated. (C-43-11-012-S-00)