2010-042 RES APPROVING PURCHASE OF LOTS 5 & 6, BLOCK 1 OF HENRY SMITH 2ND ADDITION

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RESOLUTION NO. 2010-042 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING THE PURCHASE OF LOTS 5& 6 BLOCK 1, OF THE HENRY SMITH 2ND ADDITION LOCATED AT 165 W. CENTER STREET; RATIFYING THE EXECUTION OF A REAL ESTATE COIVTRACT WITH THE LINNIE RAY SPENCER 1998 REVOCABLE MANAGEMENT "A" TRUST; AUTHORIZING THE CITY MANAGER TO EXECUTE ANY AND ALL DOCUMENTS NECESSARY FOR THE PURCHASE OF SAID PROPERTY; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City is in need of a new warehouse building for City supplies and parts, and City staff has determined that the building located at 165 W. Center Street, adjacent to the Public Works yard is the best suited; and, WHEREAS, pursuant to City Council direction, the City Manager has negotiated a Real Estate Contract with the Linnie Ray Spencer 1998 Revocable Management "A" Trust for the purchase of this property in the amount of $115,000, which in all things should be ratified; and, WHEREAS, the City Manager should be authorized to execute any and all documents necessary to finalize the purchase of Lots 5& 6, Block 1, Henry Smith 2na Addition, being 165 W. Center Street. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble of this resolution are hereby in all things approved. Section 2. That the purchase of the property and improvements on Lots 5 & 6, Block 1 of the Henry Smith's 2°d Addition, being 165 West Center Street in the amount of $115,000, be and is hereby approved. Section 2. That the execution of the Real Estate Purchase Agreement with the Linnie Ray Spencer 1998 Revocable Management "A" Trust, attached hereto as Exhibit A, be and is hereby ratified. Section 3. That the City Manager of the City of Paris be, and he is hereby authorized and directed to execute on behalf of the Ciry of Paris any and all documents related to the purchase of said property. Section 4. That this resolution shall be effective from and after the date of passage.