HomeMy WebLinkAbout17657 - RESOLUTIONS - 10/2/1991RESOLUTION NO. 17657
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, APPROVING COMPENSATION FOR A QUIT-
CLAIM DEED TERMINATING RESERVATION OF THE RIGHT
OF FIRST REFUSAL ON 7.5 ACRES IN SECTION 20.
WHEREAS, the City of Palm Springs is the owner of that twenty acre parcel
of land leased to the Oasis Water Park;
Y WHEREAS, the deed by which the City of Palm Springs acquired 7.5 acres of
r the Oasis Water Park land reserved to Lawrence Bow, the right of first
y refusal to repurchase 7.5 acres of land;
WHEREAS, the Oasis Water park desires to purchase the land it is leasing
from the City, provided the City can eliminate his reservation of the right
of first refusal to purchase on the 7.5 acres; and
WHEREAS, Lawrence Bow has agreed to execute a Quitclaim Deed and eliminate
' his right of first refusal for the consideration of $20,000; and
WHEREAS, it is for the common benefit and in the best interest of the City
of Palm Springs to compensate Lawrence Bow $20,000 to execute a Quitclaim
Deed on the 7.5 acres.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Palm
Springs, California, as follows:
Section 1. That paying compensation in the amount of $20,000 to Lawrence
Joseph Bow to execute a Quitclaim Deed for 7.5 acres of land in
Section 20, to terminate his reservation of the right of first
refusal to repurchase said 7.5 acres, is hereby approved.
Section 2. That the City Manager is hereby authorized to sign all docu-
ments on behalf of the City of Palm Springs necessary to
arrange for the payment of the $20,000 compensation in exchange
for the executed Quitclaim Deed from Lawrence Bow for the 7.5
acres of land.
r Section 3. That the City Clerk is hereby authorized to accept the Quit-
claim Deed on behalf of the City of Palm Springs.
ADOPTED this 2nd day of October 1991.
AYES:
NOES:
ABSENT
Councilmembers Broich, Hodges, Murawski and Neel
None
Mayor Bono
ATTEST:
BY
City w erK
REVIEWED & APPROVED:=�
r
WP: R-85-103