HomeMy WebLinkAbout97-63 - Approving the Terms and Conditions of Agreement for Purchase and Sale of Real PropertyRESOLUTION NO. 97-63
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, APPROVING THE TERMS
AND CONDITIONS OF THE AGREEMENT FOR PURCHASE
AND SALE OF REAL PROPERTY BETWEEN THE CITY OF
COSTA MESA AND BORDERS COSTA MESA, LLC, AND
AUTHORIZING THE EXECUTION AND IMPLEMENTATION
OF SAID AGREEMENT.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY
RESOLVE AS FOLLOWS:
WHEREAS, the City of Costa Mesa (the "City") is the owner of certain real
property known as Parcel E, located at 1898 Newport Boulevard, Costa Mesa,
California; and
WHEREAS, after consideration of several proposals from private parties to
purchase Parcel E, Borders Costa Mesa, LLC, a Colorado limited liability company, has
executed and offered to the City a purchase and sale agreement for Parcel E entitled,
"Agreement for the Purchase and Sale of Real Property"; and
WHEREAS, the City Council has duly considered all terms and conditions of the
proposed sale and finds that the purchase price for the sale of Parcel E is for a price
not less than the fair market value of Parcel E, that the terms and conditions of such
sale are acceptable, and that the proposed sale is in the best interests of the City;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Costa
Mesa that the City Manager is hereby authorized to execute the Agreement for the
Purchase and Sale of Real Property on behalf of the City, and to deliver said executed
agreement to Borders Costa Mesa, LLC; to take all steps, incur expenses, and to
execute escrow instructions, grant deeds, and all other documents and instruments
necessary to implement and carry out the provisions of the Agreement for the
Purchase and Sale of Real Property; and to agree to and make such modifications,
corrections, and clarifications to said agreement as the City Manager deems necessary
for such implementation.
PASSED AND ADOPTED this 14th day of July, 1997.
ATTEST:
1.
Deputy City derk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mayorro
of of O
APPROVED AS TO FORM
r;TY ;47- 0R^,I EY
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City Council
of the City of Costa Mesa, hereby certify that the above and foregoing
Resolution No. 97-63 was duly and regularly passed and adopted by the said City
Council at a special meeting thereof held on the 14th day of July, 1997.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 15th day of July, 1997.
I.
Deputy Citt Clerk and ex -officio Clerk of
the City Council of the City of Costa Mesa