HomeMy WebLinkAboutCC Res 1442 1966-05-16
<\
It
,I
,I
I
...
"
r.,",
..
"".
.~
RESOLUTION NO. /~II;I;s;.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEAL BEACH, CALIFORNIA, AUTHORIZING THE EXECU-
TION . OF A SUPPLEMENTAL AGREEMENT BETWEEN
GOLDEN RAIN FOUNDATION, ROSSMOOR CORPORATION,
AND THE CITY OF SEAL BEACH, TO FINALIZE THE COST
OF THE WATER SYSTEM IN THE AREA KNOWN AS LEISURE
WORLD, TO DETERMINE THE RESPECTIVE RIGHTS WITH
RESPECT TO THE PROCEEDS AND TO SETTLE THE VALIDITY
OF ANY ASSIGNMENT OF THE PROCEEDS.
The City Council of the City of Seal Beach, California, does
hereby resolve:
WHEREAS, the agreement entered into between Golden Rain
Foundation and the City of Seal Beach, dated March 19, 1962, to pur-
chase the water distribution system within the area of the City of
Seal Beach known as Leisure World; and
WHEREAS, the City Council is desirous of finalizing the
cost of the water distribution system, and to determine the respective
rights with respect to said purchase, and to determine the amount to
be paid to Golden Rain Foundation and Rossmoor Corporation pursuant to
an assignment between said parties; and
WHEREAS, both Golden Rain Foundation and Rossmoor Corporation
have stated their respective desires of finalizing said purchase:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SEAL BEACH, CALIFORNIA, AS FOLLOWS:
Section 1. The Mayor and the City Manager of the City of
Seal Beach are hereby authorized to execute a supplemental agreement
between the City of Seal Beach, Rossmoor Corporation, and Golden Rain
Foundation to (1) finalize the total amount to be paid by the City of
Seal Beach for the water distribution system in the area of the City
of Seal Beach known as Leisure World at an amount of $550,000, said
amount to include all charges and costs for engineering, supervision,
and interest, past or future, and with the City to receive credit for
all monies paid for said water distribution system; the first $500,000
of said purchase price to be paid to Rossmoor Corporation and the
remaining $50,000 to be paid to the Golden Rain Foundation
1:
I
.
I,'
..~.. .
-'
,
I
^
..... "
",
.
Resolution Number
-
.
PASSED. APPROVED. AND ADOPTED by the City Council of the City of
Seal Beach at a meeting thereof held on the ~~~ day of ~ ,
1966, by the following vote: ~ ~ '
AYES: Councilmen ~L";'n; ~ ~
NOES: Councilmen ~
ABSENT: Councilmen ~
Attest:
. 4o.&e/~~.~
City Clerk
:. -\..........
..~...~' ~ ........
'r>~,.. ..-:.
,;' .- ~
, --
-;~\-:--- ~
-' -"
.""'.. ~
~ -.
..........r ~ .
-, '
. . -,
, '.
, '
~ If#~~
'r7or