HomeMy WebLinkAboutReso 1912-01-B RESOLUTION #1-B, City of Chula Vista, Calif. LL��
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BE IT RESOLVED by the Board of Trustees of the City of Chula Vista, Califor-
nia, that
Whereas, the said city is in need of a place for holding its meetings, keep-
ing and preserving its records, and for the transaction of its business; and
WHEREAS, it is deemed for the best interests of said City that it purchase
a suitable building for said purposes; and •
WHEREAS, the Peoples State Bank of Chula Vista has submitted to said Board of
Trustees a proposition whereby it offers to sell to said city Lot #14, in Block E ' }
• of Mohnike's Subdivision of Lot$5, Quarter Section 137, Rancho de la Placion, situ-
r,
ate in the City of Chula Vista, County of San Diego and State of California; to-
gether with its bank building, vault and certain furniture and fixtures contained
therein, for the sum of twenty six hundred ($2600.00) Dollars; and
WHEREAS, a Special Committee appointed by this Board for that purpose has
fully investigated said proposition and has made its report to this Board wherein
it recommends that this Board do purchase for said city said real estate and
building and contents;
.NOW VIEREFoRG, be it FUBT}MR REMIXED, that this Board do purchase for aM
on behalf of said City of Chula Vista, California, said lot with the bank building._
situate thereon, and the said furniture and fixtures contained therein as afore-
said, for the said sum of twenty six hundred ($2600.00) Dollars; and that it pro-
, ceed to enter into a contract with the said Peoples State Bank of Chula Vista for
the purchase of said property upon the following terms, to-wit: $200. to be paid
down; and $200. upon the first day of March of each succeeding year until the
whole sum shall have been paid, together with interest on all deferred payments
at the rate of 71 per annum; with the privilege on behalf of said city of paying
$100. or any multiple thereof on any payment date, more than the $200. hereinbe-
fore mentioned.
Said Peoples State Bank shall deliver possession of said property to said
city on or before October 1, 1912, and at said time shall credit said city on
said contract of purchase with all accrued interest from the date of said contract
up to the time of the delivery of such possession to said city; it being under-
stood that said city shall ks pay no interest on the unpaid purchase price during
the time said bank remains in possession of said property.
• BE IT FURTIEB RESOLVED, that there is hereby aprropriated out of the General
Fund. of said city for the purpose of making the first payment under this resolu-
tion upon said contract the sum of two hundred ($200.00) Dollars.
BE IT FURTIIR RESOLVED, that the President of the Board of Trustees and the 2i
Clerk bf the City of Chula Vista, be and they are hereby authorized and directed
to enter into a contract with the said Peoples State Bank of Chula Vista, in be-
; a
half of said City of Chula Vista, for the purchase :of said property in accordance '
with the terms of this resolution.
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