RES-9375 Acquisition of Real Property from Union Pacific Railroad CompanyRESOLUTION NO. 9375
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE FINDING AND DETERMINING
THAT THE PUBLIC INTEREST, CONVENIENCE
AND NECESSITY REQUIRE, AND ORDERING,
THE ACQUISITION FOR PUBLIC PURPOSES OF
CERTAIN REAL PROPERTY FROM UNION
PACIFIC RAILROAD COMPANY AND
APPROVING THE TERMS AND CONDITIONS AND
AUTHORIZING THE EXECUTION OF A
PURCHASE AND SALE AGREEMENT AND JOINT
ESCROW INSTRUCTIONS THEREFOR.
WHEREAS, the interest in the real property described on the attached Exhibit "A"
the "Property") is situated within the City of Orange and has been appraised as having a fair
market value of over $3,500,000 and the purchase price is in lower than the appraisal.
WHEREAS, Union Pacific Railroad Company, a Delaware corporation ("SeHer") is
the owner of the Property and is willing to seH the Property to the City; and
WHEREAS, the City proposes to acquire the Property pursuant to the terms and
provisions of an Agreement of Purchase and Sale and Joint Escrow Instructions (the
Agreement") in the form presented at this meeting and under the authority granted to it by
Califomia Government Code Section 37350.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Orange as follows:
I. The public interest, convenience and necessity require, and the Council hereby
orders, the acquisition by the City from the Seller for public purposes of the fee simple estate
in the Property, subject to easements, covenants, rights and rights-of-way of record,
for the sum of $3,500,000 in cash through escrow in accordance with the terms and provisions
of
the Agreement.2. The City Council hereby finds and determines that the terms and provisions
of the Agreement between the City and SeHer with respect to the acquisition of the Property
in the form as submitted by the City Manager are approved and that the Mayor is
authorized to execute, and the City Clerk to attest, the Agreement on behalf of
the City.3. The Mayor is authorized and directed to execute on behalf of the City
of Orange aH documents necessary and appropriate to carry out and implement the Agreement
and to administer the City's obligations, responsibilities and duties to be
4. The City Manager is authorized to terminate the Agreement on or before the
expiration of the due diligence period if, in the discretion of the City Manager, the results of
the City's investigation of the condition of the Propl~rty do not support the purchase price of
the Property or the feasibility of the acquisition of the Property or their value for current or
future uses, or the results of such investigation are not otherwise satisfactory to him.
ADOPTED this 12th day of December, 2000.
Mffi:,;,
ATTEST:
6.
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
City Council of the City of Orange at a regular meeting thereof held on the 12th day of
December, 2000, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS: COONTZ, SLATER, MAYOR MURPHY, ALVAREZ
COUNCIL MEMBERS: NONE
COUNCIL MEMBERS: NONE
COUNCIL MEMBERS: NONE
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A~ ~~
Cassandra J. Cathc , City Clerk of the City of Orange
Reso No. 9375 DAD/ajj
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EXHIBIT
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