HomeMy WebLinkAboutCC Res 402 1939-08-17
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RESOLUTION NO. 40;~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEAL BEACH, CALIFORNIA, PROVIDING FOR THE PURCHASE
BY SAID CITY FROM THE SlOClURITY-FIRST NATIONAL BANK
OF LOS ANGELES OF LOT I IN BLOaK A AND LOT I IN
BLOCK C OF TRACT' 1009 IN THE CITY OF SEAL BEACH IN-
COMPLETION OF THE MUNICIPAL PIER PROJlroT FOR A CON-
SIDERATION OF $41,500.00 AND AUTHORIZING AND DIRlOClT-
ING THE MAYOR AND CITY CLERK ON BEHALF OF SAID CITY
TO ENTER INTO AN Escami THEREFOR.
WHEREAS, at the General Mun1~ipal Election held on Tuesday, April
2th, 1938, in the City of Seal Beacb, the voters of said City approv
of the issuance of bonds 6n the principal amount of $101,500.00 for t
acquisition, constr~ction and completion of a munioipal pier, inolud1
the acquisition of land necessary ~hereforj and,
WHEREAS of said amount $60,000,.00 of said bonds have been issued
towards the payment of the cost of the construction of said pier and
the remaining amount of $41,500.00 of said bonds have been authorized
as the seoond series of bonds of said issue, the proceeds from sale 0
rh1ch bonds the City Ccuno11 deem it necessary and convenient to be
sed in the purchase bf said City from the First-National Bank of Los
Angeles of Lot 1 in Blook A and Lot 1 in Block C of Traot 1009 in the
ity of Seal BeaSh in oomplet1on of said Municipal Pier project for a
considerat~on of $41,500.00;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City
of Seal Beach, California, as follows:
Section 1: That the City of Seal Beach purchase from the Security
First National Bank of Los ~eles the hereinafter described real pro -
erty for a consideration of $41,500.00 as neoessary and convenient fo
the completion of the Municipal Pier project in said City, and that
the Mayor and City Clerk, be, and they are hereby authorized and dire tee
for and on behalf of the City of Seal Beach, and not individually or
otherwise, to sign, execute and deliver the necessary Escrow Agreemen
and any and all other documents pertaining to the purchase by said Ci y
of that certain real property desor1bed as:
Lot 1 in Block A and Lot 1 in Block C of Tract 1009, in the
City of Seal Beach, County of Orange, State of California, as
per Map thereof recorded in Book 33, at page 16 of m1soella-
neous Maps, records of said Orange County;
and the City Treasurer is authorized to issue a Warrant in the above
named amount drawn upon the Treasury of said Clty in payment of said
purchase price, upon the showing as ev1denoed by a Certificate of Tit e
of a reputable title company showing title to said real property vest d
in fee in said Bank freef and clear of all incdmbrances except the
usual covenents, restrictions and reservations of reoord, and upon th
exeoution and delivery of a grant deed thereto by said Bank to said
City.
Adopted, Signed and Approved this 17thday of August, 1939.
Attest:
~ Mayor
Of the Ci e ac, a ifornia.
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