RESOLUTION NO. 175-05
A RESOLUTION AUTHORIZING THE PURCHASE OF RIGHT-OF-WAY
AT 1018 S. 5th STREET FROM DEAN H. VANGUNDY
Recitals.
A. The City of Grand Junction has entered into a contract with Dean H. VanGundy, for the purchase by the City of certain property located within the proposed alignment of the Riverside Parkway:
B. The purchase contract provides that on or before November 16, 2005, the City Council must ratify the purchase and the allocation of funds for all expenses required to effectuate the purchase of the right-of-way.
C. Based on the advice and information provided by the City staff, the City Council finds that it is necessary and proper that the City purchase the right-of-way at 902-1030 S. 5th Street.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, COLORADO, THAT:
1. The property described herein shall be purchased for a price of $1,780,504. All actions heretofore taken by the officers, employees and agents of the City relating to the purchase of said right-of-way which are consistent with the provisions of the negotiated Contract to Buy and Sell Real Estate and this Resolution are hereby ratified, approved and confirmed.
2. The sum of $1,780,504 is authorized to be paid at closing, in exchange for conveyance of Dean H. VanGundy’s interest in the described right-of-way.
3. The officers, employees and agents of the City are hereby authorized and directed to take all actions necessary or appropriate to complete the purchase of the described property. Specifically, City staff is directed to effectuate this Resolution and the existing Memorandum of Agreement, including the execution and delivery of such certificates and documents as may be necessary or desirable to complete the purchase for the stated price.
PASSED and ADOPTED this 16th day of November, 2005.
/s/ Bruce Hill
Attest: President of the Council
/s/ Stephanie Tuin
City Clerk