HomeMy WebLinkAboutResolution No. 4277 RESOLUTION NO. 4277
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF DOWNEY CONSENTING TO THE ASSIGNMENT OF AND
APPROVING THE TRANSFER OF A PIPELINE FRANCHISE
(ORDINANCE NUMBER 628) FROM GULF OIL COMPANY -
U.S. TO THE GOLDEN WEST REFINING COMPANY
THE CITY COUNCIL OF THE CITY OF DOWNEY DOES HEREBY RESOLVE AS
FOLLOWS:
SECTION 1. There is herewith submitted to the City Council a
request from Gulf Oil Company - U.S. to consent to the assignment
of its rights under the franchise granted under City of Downey
Ordinance Number 628 contingent upon consummation of transfer of
assets scheduled to take place July 15, 1983.
SECTION 2. There has been submitted to the City Council a
letter from Golden West Refining Company assuming the obligations
and agreeing to be bound by the terms and conditions of Ordinance
Number 628 at such time as Gulf Oil Corporation assigns its interest
in the pipeline franchise granted by Ordinance Number 628 and upon
adoption of a resolution by the City of Downey consenting to said
assignment and assumption.
SECTION 3. There has been submitted to the City Council a
letter from Golden West Refining Company certifying that upon the
closing date of the acquisition of the assets of Gulf Oil Corporation,
Golden West Refining Company will own assets in excess of Five Million
Dollars ($5,000,000) as required by the terms of City of Downey
Ordinance Number 628.
SECTION 4. The City Council of the City of Downey does hereby
consent to the assignment of rights and assumption of obligations
and approve the transfer of the franchise authorized under City of
Downey Ordinance Number 628 to the Golden West Refining Company upon
the final transfer and acquisition of the assets of the Gulf Oil
Corporation.
SECTION 5. The City Clerk shall certify to the adoption of
this resolution.
APPROVED AND ADOPTED THIS 12th DAY OF „u1 , 1983.
/7/ 4114 1 /. _ -
Rr •ert G. Cormack, ayor
ATTEST:
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' 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 the 12th day of July , 1983, by the following vote,
to wit:
AYES: 5 Council Members: Jackman, Barb, Davila, Quinn, Cormack
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
/ .;
City Clerk
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