HomeMy WebLinkAbout1987-06-23; City Council; Resolution 9134* 1
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RESOLUTION NO. 9134
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING THE PURCHASE OF THE
BUILDING LOCAATED AT 2075 LAS PALMAS DRIVE, CARLSBAD,
CALIFORNIA
WHEREAS, the City Council has previously approved the lease
of the property located at 2075 Las Palmas Drive, Carlsbad, California
(the "PROPERTY") , and
WHEREAS, the City Council has determined that it is in the
public interest to acquire the PROPERTY for municipal purposes, and
WHEREAS, the existing lease agreement allows the City the
option to purchase the PROPERTY on or before July 31, 1987 for a price
of $1,602,160, and
WHEREAS, the City Council desires to exercise this purchase
option on or before July 31, 1987, and
WHEREAS, the purchase of the PROPERTY is a legal expense of
the Public Facilities Fee Fund and is therefore exempt from the
spending limit imposed by the voters under Proposition H.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Carlsbad, California, as follows:
1. That the City Manager shall commence the acquisition
process for the PROPERTY at a price of $1,602,120 plus escrow and
related costs.
2. That the City Manager shall return to the City Council at
the first available meeting with a recommended lease/purchase agreement
or underwriting agreement to finance this acquisition.
3. That the Finance Director is authorized to temporarily
transfer the amount of $1,700,000 for the acquisition of this property,
said amount representing acquisition costs, closing costs and related
expenses, from the Palomar Airport Road Assessment District project to
the PROPERTY acquisition project within the Public Facilities Fund.
4. The above transfer shall remain in effect from July 1,
1987, until such time that replacement funds are received from the
acceptance of a lease/purchase agreement or a COP.
transfer shall be reversed and the Palomar Airport Road Assessment
District project will be returned to full funding status.
At that time the
5. Future lease payments or debt service payments will be
made from the Public Facilities Fee Fund and, if necessary, augmented
by support from the General Fund in the event of a PFF revenue
shortfall.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
Carlsbad City Council held on the 23rd day of June , 1987 by the
following vote, to wit:
AYES: Council Members Lewis, Kulchin, Pettine, Mamaux and Larson
CLAUDE A. LEWIS, Mayor
ATTEST :
ALETU L. RAUTENKRANZ, City Clerk