HomeMy WebLinkAboutReso 1963-3248RESOLUTION N0. 3248
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING SALE OF CITY PROPERTY TO SEARS,
ROEBUCK AND CO., AND ASSIGNMENT OF OPTION BY
BROADWAY-HALE STORES, INC., TO SEARS, ROEBUCK AND CO.
WHEREAS the City of Chula Vista did on or about November 4, 1959,
enter into an agreement with Broadway-Hale Stores, Inc., approved by Reso-
lution No. 2343 wherein and whereby the City of Chula Vista granted to said
Broadway-Hale Stores, Inc., an option to purchase certain real property
hereinafter described, and,
WHEREAS Broadway-Hale Stores, Inc., did assign to Sears, Roebuck
and Co., its option to purchase said real property, and
NOW THEREFORE BE IT RESOLVED AS FOLLOWS:
1. The City Council finds that Broadway-Hale Stores, Inc., did
give timely notice of the exercise of its option as determined
by Resolution No. 2879 to purchase the real property described
as and pursuant to that certain written agreement dated Novem-
ber 4, and the City Council further finds that an appraisal
was made of said real property pursuant to said agreement and
that the fair market value of said property is the sum of ONE
HUNDRED TEN THOUSAND DOLLARS.
2. The City Council further finds that said option was assigned
to Sears, Roebuck and Co., on or about September 1, 1963, and
that the use of said Sears, Roebuck and Co., will be consistent
with the intent of, and uses as set forth in, said written
agreement referred to hereinabove and are in the best interests
of the City of Chula Vista.
3. The City Council hereby approves and consents to the assignment
of said option rights from BROADWAY-HALE STORES, INC., to SEARS,
ROEBUCK AND CO.
4. The Mayor and Chief Administrative Officer are hereby authorized
to execute any and all documents necessary and proper to carry
out and effectuate the purposes and intent of this Resolution,
and to effectuate the sale and transfer of the hereinabove
described real property to Sears, Roebuck and Co., including
any grant deeds or escrow instructions.
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~ ADOPTED AND, APPROVED by the CITY COUNCIL of the
CITY OF CHULA VISTA; CALIFORNIA; this .12th day of November ,
` 1963 , by the following vote, to-wit:
AYES: COUNCILMEN McMains; McAllisEer, Menzel, DeGraaf
~. ::.
NAYES: COUNCILMEN None
ABSENT: COUNCILMEN Smith.,..
Ma or of the City of Chul Vista
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ATTEST : /~~~-~- vl/2''-Ccn.o-:,-/~f~(..~
~. City Clerk '
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) sa.
CITY OF CHULA VISTA )
I, KENNETH P. CAMPBELL, City Clerk of the City of Chula
Vista, California, DO HEREBY CERTIFY that the above and foregoing
is a full, true and correct copy of
and that the same has not been amended oz repealed.
DATED:
City Clerk