RESOLUTION NO. 94-03

A RESOLUTION RATIFYING CONTRACT TO CONSTRUCT

A PARKING STRUCTURE OWNED BY MESA COUNTY

AND THE CITY OF GRAND JUNCTION

Recitals.

A.  The City of Grand Junction and Mesa County have agreed to jointly pay for a four story parking structure, to be constructed by Mesa County. The City will have 40% ownership and the County 60%.

B.  The structure will be constructed on lots currently owned by the County. The parties agree that the lots on which the structure will be built has a fair market value of $185,000. The City will pay 40% of such value to the County in exchange for a special warranty deed.

C.  Prior to the County beginning construction on behalf of the City and the County, both parties agree that the City should pay the county said value of a 40% interest, and the County will contemporaneously convey its fee simple absolute title, subject to no liens or encumbrances, to Mesa County as to an undivided 60% interest as a co-tenant and to the City of Grand Junction as to an undivided 40% interest as a co-tenant, all in accordance with the agreement between the parties dated September 8, 2003.

D.  The Board of County Commissioners has taken similar authorizing action. See, Mesa County Agreement # 2003-111 in the official records of the Clerk to the Board of County Commissioners of Mesa County.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, COLORADO:

 The City Manager is authorized to pay to the Board of County Commissioners of Mesa County the amount of $74,000 in exchange for a special warranty deed to the City as a co-tenant grantee of an undivided 40% owner, with the Board of County Commissioners being the other co-tenant grantee as to a 60% undivided interest.

This Resolution is PASSED on this 1^st day of October, 2003

ATTEST:

/s/ Stephanie Tuin            /s/ Jim Spehar      

City Clerk              President of the Council