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RESOLUTION NO. 4261
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ARCADIA AUTHORIZING THE. SALE OF
CITY-OWNED PROPERTY KNOWN AS 115 EAST
WHEELER STREET.
WHEREAS, the City of Arcadia is the owner of certain vacant
land known as 115 East Wheeler Street, hereafter more particularly
described, which land is excess and not needed for any public use;
a~
WHEREAS, a duly noticed public hearing was held before
the City Council on May 16, 1972, for the purpose of offering
said land for sale to the highest bidder; and
WHEREAS, the offer of Robert L. Walker and Phyllis S.
Walker was the best offer for the purchase of said land;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ARCADIA:
SECTION 1. That certain property known as 115 East
Wheeler Street in the City of Arcadia, County of Los Angeles, more
particularly described as follows:
Lots 5, 6 and 7, Block 77, Arcadia Santa Anita
Tract, as per Map recorded in Book 15, pages
89 and 90 of Miscellaneous Records in the office
of the recorder of said County,
is hereby sold to Robert L. Walker and Phyllis S. Walker, husband
and wife as joint tenants, on the following terms, and the Mayor
and City Clerk are hereby authorized to execute all necessary papers
and deeds in connection with this transaction. The purchase price
is $22,750; the buyers shall make a down payment of $4,550 with
the balance secured by a note and deed of trust; the note shall
be in the amount of $18,200 and shall be payable in quarterly
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payments of $365, including interest at the rate of 7% per annum;
the note shall mature and the entire balance shall be due on or
before five (5) years of the date of the note.
SECTION 2. The City Council finds that said land is
excess land of the City and is not needed for any public use and
it is in the City's best interest to sell said land.
SECTION 3. The City Clerk shall certify to the adoption
of this resolution.
I HEREBY CERTIFY that the foregoing resolution was
adopted at a regular meeting of the City Council of the City of
Arcadia held on the 16th day of
May
, 1972, by the affirmative
vote of at least three Councilmen, to wit:
AYES:
Councilmen Arth, Helms, Scott and Hage
NOES:
None
Butterworth ~
t?J'l~~~~
l(lf1, Cle 0 he i y of rcadia
SIGNED AND APPROVED this 16th day of May , 1972.
~~'i--Aro'd1'
Councilman
ABSENT:
%'/Y'~ ~ (,
mt~~ )J(-Ld'lU~
City Clerk
(SEAL)
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