HomeMy WebLinkAbout60-137RESOLU*£ION NO. 60-137 MODIFYING RESOLUTION
KO. 60-127 TO PROVIDE THAT SALE OF SYC~4ORE
STREET FIRE STATION TO BERNARD BECKER BE
CLOSED THROUGH ORANGE COUNTY TITLE COi~IPA~
ESCROW NO. 351256-HRB
WHEREAS, heretofore, on June 20, 1960, the City Council
adopted Resoluhion No. 40-127 naming the Bank of ~nerica National~
Trust and Savings Association, Santa Ana Branch, to handle an
escrow for the sale of property therein described, which is com-
monly referred to as Sycamore Street Fire Station, to Mr. and
Mrs. Bernard Becker and fixing the net price to be paid to the
City for the balance due on the contract of sale made February 3,
195~; and
WHEREAS, said Bank of America declined to handle said
escrow and suggested to the City and the Buyer thah Escrow
No. 351256-HRB,opened with Orange County Title Company April 10,
195~ and presently existing for the sale of the same property to
the same Buyer,be used for the completion of this sale, and that
the Bank only deposit the purchase money in said escrow; and
~EREAS, the question has arisen as to the net sum to be
paid for the City as expressed in Resolution No. 60-127.
NOW, THEREFORE, BE IT RESOLVED: 'I~nat after negotiation
between the parties, the Bscrow Instructions in said Escrow
No. 351256-HRB are hereby modified to provide that the purchasers
should deposit in said escrow for the City the sum of $ ~.0,113.00
together with a sufficient amount to cover Buyer's share of escrow
expenses and the U. S. Internal Revenue St~np required to be affixed
to said deed, since the City, a municipal corporation, is not re-
quired nor pe~nitted to use public funds for the payment of said
Revenue ~tamp Tax.
BE IT FURTHER RESOLVED: That 'Wnis Resolution is adopted for
the purpose of amending Resolution No. 60-127 and must be read in
conjunction therewith.
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PASSED Al<iD ADOPTED by the City Council of the City of Santa
Aha at its regular meeting held on the l~h day of July, !9~0.
STA~E OF CALIFORNIA)
COUNTY OF ORANGE )
CI%~/ OF SA~ITA Aria )
SS
I, VAN LOIS FIi~J~%IORE, do hereby certify that I
Assistant Clerk of the Council of the City of Santa Aha; that ghe
Clerk of the Council was ~Dsent from the regular meeting herein
referred to; that the foregoing Resolution was regularly introduced
to said Council at its regular meeting held on the l~th day of July,
1960, and was at said meeting regularly passed and adopted by the
following vote, to-wit:
AYES, COUNCI~4EN: RoyalE. ~ubbar~, S~ley C. Gould, Jr.,
D~le H. Heinly, A. A.
NOES,
ABSENT,
C OUI~C I I/4EN:
COUb~C II/4E~:
None
Bob Brewer
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