HomeMy WebLinkAbout17413 - RESOLUTIONS - 2/6/1991 RESOLUTION NO. 17413
OF THE CITY COUNCIL OF THE CPITY OF PALM
SPRINGS, CALIFORNIA, APPROVING ACQUISITION
OF EQUESTRIAN CENTER LEASE, LEASE AGREEMENT
NO. 2100, SUBJECT PROPERTY BEING LOCATED AT
THE EAST END OF SONORA IN SECTION 19 , IN
THE CITY OF PALM SPRINGS, FROM THE
EQUESTRIAN V.
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WHERAS, the Lessee of subject property more particularly
described in City Lease Agreement No. 2100, at the East: end of
Sonora Road in Section 19„ in the City of Palm Springs, has
agreed to sell its interest: :in said lease and City and Seller
have agreed on a price;
WHEREAS, the price was determined based on an appraisal to
determine fair market value; and
WHEREAS, the highest and best use of the land is for public
purposes, recreational purposes and open space;;
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Palm Springs as follows:
Section 1. The acquisition of the leasehold interest of the
Equestrian V, as described in City Lease Agreement No. 2100 on y
fi:Le in the office of the City Clerk, in the amount of
$1, 165, 000, plus customary closing costs, with escrow closing +I
on February 28th 1991, and with possession to be delivered on f,
or about June 15th, 1991 in accordance with the attached escrow
instructions, is hereby approved.
Section 2 . The City Manager and City Clerk are hereby ,
authorized to sign all documents on behalf of the City of Plain
Springs necessary to consumatr_, the acc;;uisitiori.
Section 3 . That the City Clerk is hereby authorized to accept
documents conveying such interest in said leasehold and arrange
for recording of same in the County Recorders office.
ADOPTED this 6th day of February, 1991.
AYES: Councilmembers Broich, Murawski , and Mayor Bono
NOES: Councilmember Hodges
ABSENT: None
ABSTAIN: Councilmember Neel
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
REVIEWED & APPROVED 't-