Resolution No. 41-08 (Word Version)

RESOLUTION NO. 41-08

A RESOLUTION RATIFYING THE CONTRACT TO PURCHASE

REAL PROPERTY LOCATED AT 821 27 ROAD FROM JANICE JONES

Recitals.

A. The City of Grand Junction has entered into a Contract to Buy and Sell Real Estate (“Contract”) with Janice Jones for purchase of property located at 821 27 Road, Grand Junction Colorado.

B. The City is purchasing the vacant parcel to add to the adjoining Paradise Park property owned by the City.

C. The Contract provides that on or before March 20, 2008, the City Council must ratify the purchase and the allocation of funds for all expenses required to effectuate the purchase of the property.

D. Based on the advice and information provided by the City staff and the City Council Property Committee, the City Council finds that it is necessary and proper that the City purchase the property located at 821 27 Road.

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

1. The above described property shall be purchased for a price of $269,000.00. All actions heretofore taken by the officers, employees and agents of the City relating to the purchase of said property which are consistent with the provisions of the negotiated Contract and this Resolution are hereby ratified, approved and confirmed.

2. The sum of $53,800.00 has been paid for the purposes of earnest money to Mrs. Jones and the remaining sum of $215,200.00 is authorized to be paid at closing, in exchange for conveyance of the fee simple title.

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 Contract, including 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 19^th day of March, 2008.

Attest:

/s/: James J. Doody

President of the Council

/s/: Stephanie Tuin

City Clerk