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HomeMy WebLinkAbout4261 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 -1- 4261 , 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) -2- 4261