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HomeMy WebLinkAboutOrdinance 1737 N.C.S. 09/19/1988 ~fld f3 13 i~~~`a`:,A J ~~l E .:y'BJ.:. sb ~ G.n'"~ .:ACT 19 198 ORDINANCE NO. 1737 N.C.S. Introduced by Seconded by Larry Tencer John Balshaw AN ORDINANCE AUTHORIZING THE SALE OF REAL PROPERTY KNOWN AS THE BOND SUBDIVISION, IN THE CITY OF PETALUMA (A.P. No. 14.9-280-45) . BE IT ORDAINED by the Council of the City of Petaluma as follows: Section 1. The real property known as the Bond Subdivision, owned by the City of Petaluma and which is legally described as "Parcel 3 as shown upon City of Petaluma, Parcel Map No. 202, filed and recorded on March 19, 1986 in Book 383 of Maps., page 19, Sonoma County .Records", is hereby authorized to be sold to Benjamin-Tuxhorn and Associates, Inc.. Said purchaser was the highest bidder at the public bidding sale, which was conducted by sealed bids received by the City on August 22, 1988. The purchase price of the property is in the amount of Eight Hundred Sixteen Thousand Eight Hundred Sixty Eight Dollars ($816,868.00) . Section 2. The acceptance of the deposit in the amount of Eighty-One Thousand Six Hundred Eighty-Seven Dollars ($81,687.00) shall be deemed to occur upon the date of adoption of this Ordinance. The close of escrow shall occur upon recordation of the Final Map for Bond Subdivision or within ninety (90) days of the date of adoption of this Ordinance, whichever date is earlier. Section 3. It is deemed to be in the best public interest and for the common benefit of the City of Petaluma far the City to sell this property in the manner stated above. The City Manager is hereby authorized. to execute a purchase agreement on behalf of the City for the sale of the Bond Subdivision property in accordance with the terms stated above. ORD. 1737 N.C.S. i' Section 4. The City Clerk is hereby directed to post/publish this ordinance for the period and in the manner required by the City Charter. Introduced and ordered posted/published this 6th day of September 1988. Adopted this 19th day of September 1988, by the following vote AYES: Tencer, Sobel, Woolsey, Vice Mayor Davis NOES : 0 ABSENT: Cavanagh, Balshaw, Mayor Hilligoss Mayor ATTEST : Appro as/,to''form ~ ' G ~ / ity Cler it Attorney ord, sale. bond LAW13 ORD 1737 N.C.S.