HomeMy WebLinkAboutResolution No. 3936 RESOLUTION NO. 3936
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
DECLARING CERTAIN CITY -OWNED PROPERTY AS EXCESS AND
AUTHORIZING THE SALE OF THE PROPERTY TO THE CITY OF
DOWNEY COMMUNITY DEVELOPMENT COMMISSION
THE CITY COUNCIL OF THE CITY OF DOWNEY DOES RESOLVE AS FOLLOWS:
SECTION 1. The City Council of the City of Downey, having reviewed the
Resolution of the Planning Commission and having considered all other matters
heretofore presented to it finds and declares that those portions of the City
Hall property described on the attached Exhibit A are excess property and
authorizes the sale of such property to the City of Downey Community Develop-
ment Commission.
SECTION 2. The terms of sale are as follows: a) The City of Downey
Community Development Commission shall pay to the City of Downey the sum of
$500,000 within ten days after adoption of this Resolution; b) The City of
Downey Community Development Commission shall pay an additional $500,000 to
the City of Downey at the time title to the property transfers to the Commis-
sion; and c) The City of Downey Community Development Commission shall deliver
to the City of Downey at title transfer an executed note to the City of Downey
in the amount of $1,200,000 plus interest payable in ten equal annual
installments including interest at the rate of ten percent per annum. The
first payment shall be due on December 31, 1983. Interest on said note shall
begin to accrue on the date that title vests in the City of Downey Community
Development Commission. Interest that accrues from the date of title transfer
until the first annual installment to be paid on December 31, 1983, shall be
added to the principal amount of the note for purposes of calculating interest
and the equal annual payments.
SECTION 3. The Mayor is hereby authorized to execute any and all docu-
ments necessary to effect the desired transfer of title.
SECTION 4. The City Clerk shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 24th day of March, 1981.
__ ,r' (1 / � i
` `'-- Ted H. Jackman, Mayor
f
ATTEST:
j
7
,, ' ` , 7 4 4 om , °` C �,-- `
' � 7 / -
`� City Clerk'
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the
City Council of the City of Downey at a regular meeting thereof held on the
24th day of March, 1981, by the following vote, to wit:
AYES: 5 Council Members: Swearingen, Mackaig, Quinn, Cormack, Jackman
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
2
6 ,, ei—,(1
City Clerk
EXHIBIT A - RESOLUTION NO. 3936
•
EXHIBIT A
Those portions of Dolan Street, Second Street, Lots 256, 257, 258, 259, 260,
261, 262, 263 264, 265 266 and 270 in the City of Downey, County of
Los Angeles, State of California, as shown on Official Map filed January 13,
1964 as Document 5097, in Book 4, Pages 76 through 78 of Official Naps in the
Office of the County Recorder of said County within the following described
boundary:
•
Beginning at the intersection of the center lines of Golan Street and .-
Firestone Boulevard as shown on said map; thence Northeasterly 60.00 feet
along the center line of Dolan Street to the true point of beginning; thence
South 57 °06'39" East 318.90 feet and South 60 °23'23" East 267.51 feet along a
` line which 1s patral lel _to and distant 60.00 feet Northeasterly from the
center line of Firestone Boulevard as shown on said map; thence continuing
22.70 feet along a tangent curve concave Northeasterly and having a radius
of 15.00 feet, through a central angle of 86°42'49" to a point in the
Northwesterly line of Brookshire Avenue, 60.00 feet wide, as shown on said
map; thence North 32 °53'48" East 10.61 feet, along said Northwesterly line;
thence North 57 °08'37e West 99.20 feet; thence South 32 °41'38" West 7.44 feet;
thence North 57 °05'50" West 24.96 feet; thence North 32 °25'05" East 7.42 feet;
thence North 57 °08'37" Hest 231.79 feet; thence North 32 °56'55" East 133.00
feet; thence South 78 °41'31" East 116.14 feet; thence South 57 °08'50" East
91.18 feet; thence North 32°51'10" East 168.51 feet; thence North 57°08'50"
West 413.34 feet to a point in the Southeasterly line of Dolan Street as
shown on said map; thence South 32 °53'24 West 36.26 feet along said
Southeasterly line; thence North 57 °06`36' West 30.00 feet to a point in
the center line of Dolan Street; thence South 32'53'24" West 448.04 feet
along said center line to the tr ;aye paint of beginning.
EXCEPT the Easterly 72.5 feet measure along the Northerly line of Lots
known as 15 and 16 of Block 7 of the Tract of the Downey lend Association
as per map recorded in Book 2, Page 434 of Miscellaneous Records of said
County.