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RESOLUTION NO. <br />A RESOLUTION APPROVING THE PRIVATE RE -SALE OF A TRACT <br />OF TAX FORECLOSED PROPERTY, AND AUTHORIZING THE <br />MAYOR TO EXECUTE DEEDS <br />WHEREAS, numerous tracts of real property have previously been judicially foreclosed <br />upon for delinquent ad valorem taxes and bid off to the City of Paris as Trustee for itself, Lamar <br />County, Paris ISD and Paris Junior College (the "Trustee Properties"); and <br />WHEREAS, Texas Property Tax Code Section 34.05(1) provides that the Trustee <br />Properties may be sold by private sale in lieu of a public sale under Texas Property Tax Code <br />Section 34.05(c) & (d) with the approval of all taxing units entitled to receive proceeds from the <br />sale, being the City of Paris, Lamar County, Paris ISD and Paris Junior College; and <br />WHEREAS, a private offer to purchase one of the Trustee Properties has been received <br />by the City of Paris (the "Private Sale"); <br />NOW, THEREFORE, BE IT RESOLVED AND ORDERED by the City Council of <br />Paris, Texas; that: <br />Section 1. The following offer to purchase the following tracts of real property, being <br />the highest bid received, is hereby accepted and the Private Sale is hereby approved: <br />RAIN FINANCIAL SERVICES, INC. offers to purchase that tract identified as <br />"Lamar CAD No. 12932, `MARTIN BLOCK ADDITION, BLOCK A, LOT 1 <br />THRU 20, NW 7TH', approximately 8.020 acres of real property located in Lamar <br />County, Texas, and more specifically identified in that Special Warranty Deed <br />filed with the Lamar County Clerk on January 31, 2011 as Instrument No. <br />085347-2011." for $75,000.00, per the terms specified in that PRIVATE OFFER <br />TO PURCHASE BID -OFF PROPERTY attached as Exhibit "A" [Ref.: Cause No. <br />87473, City of Paris vs.wProVerty Partners I. LLC] <br />Section 2. That the City of Paris accepts that PRIVATE OFFER TO PURCHASE BID - <br />OFF PROPERTY, attached as Exhibit "A", and authorizes the City Manager to execute it on <br />behalf of the City of Paris. <br />Section 3. Subject to the Private Sale also being approved by Lamar County, Paris ISD <br />and Paris Junior College, and the receipt of the consideration offered by the Buyer(s), the Mayor <br />is hereby authorized to execute a tax deed conveying the Re -Sale Properties to the Purchaser or <br />designee. Any prior approval to re -sell this Trustee Property is hereby withdrawn. <br />Section 4. The proceeds of the Private Sale shall be distributed in accordance with the <br />Texas Property Tax Code and the orders of the District Courts of Lamar County, Texas. <br />Private Pro )erty Tax Re -Sale Resolution, Page 1 of 2 <br />