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ORDERING TRANSFER OF FTJNDS
mtiVERSITY AVENUE DISTRICT
O.F'F-·STREET PARK.i.:NG
PROJECT NO. 52-14
2469
RESOLVED 1 by the Council <>f the City of Palo Alto,
California, that
WHEREAS, on April 13, 1953, this Council adooted ite
Resolution of Intention No. 2425 to order acquisitions and im-
orovements therein described;
1:17
WHEREAS, on April 27 1953, this Council adopted its
Resolution No. 2432, Ordering Acquisitions and Improvements,
wherein it ordered the acquisition of certain real property as
described in and in accordance with sald R~golut1on of Intention;
WHEREAS, the owners of Pa.rcel 22-W-1 to be acquired in
said proceedings have agreed to 8ell said parcel to the City, at
tl1e appraised val11e thereof;
WHEREAS, the owners of other prooerty to be acquirl'!<l in
said o~oceed1n~s are desirous of negotiating with the City of
Pnlo Alto for t~e sale of their oroperty to the City; and
WHEREAS, funds are not yet available for this puroose
from sale of bonds in said ryroject;
NCW, THER.Et~ORE, IT IS B'OUND, DETERMINED AND ORDERED,
as follows:
1. That the sum of $125,000.00 be transferred from
the parking meter fund to the revolving fund Pursuant to Sec-
tion 5 of Article VIII of the Palo Alto Improvement Procedure Code.
2. The City Controller 1s hereby authorized to pre-
oare a 1trarrant in the amount of $24,000.00 payable to the order
of the owners of Parcel 22-W-1, payable f!"orn said revolving fund,
and to deposit said warrant in escrow with instructions to deliver
it to said owners upon delivery of a duly executed and acknowled€:ed
d~ed from the owners to the c1 ty .• transferring t1 t le to said par-
cel to the city free and clear of all encumbrances other than the
lien for taxes ~or the fiscal year 1953-54.
3. Said revolving fund shall be reimb~reed 1n whole
from the proceeds of the bonds of the district benef1ted by said
acquisitions and improvements.
* * * * *
I hereby certify the foregoing to be a true cooy of reso-
lutio~ adopted by the C1ty Council of the City of Palo Alto,
California, at a regular meeting thereof held on the 27th day
of July, 19S3, by the followj,ng vote or the members thereof:
AYES, and 1n favor thereof, Councilmen:
Byxbee, Cashel, Corcoran, Cummings, Drysdale, Hanley,
Huston, Marshall, ~1tchell, Rodgers, Ruppenthal, SimPson,
Wickett.
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148
NOES; Councilmen: None
ABS.ENT, Councilmen: Bishop, Porter
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APPROV.eD:
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