Resolution 1358
RESOLUTION NOg 1358
RESOLUTION OF THE COUNCIL OF THE CITY OF GILROY AUTHORIZING
THE PURCHASE OF SEVEN ACRES OF REAL PROPERTY FOR PUBLIC
PARK PURPOSES.
WHEREAS, JOHN H. STELLING and INEZ E. STELLING, his wife,
have offered to sell to the City of Gilroy seven acres of
creek land adjoining Christmas Hill Park for the sum of
$17,500.00, and
WHEREAS, the City desires to purchase said property, a
description of which is attached hereto as Exhibit "A", as an
addition to Christmas Hill Park, and
WHEREAS, the City has sufficient income and revenues to
purchase said park for cash, but desires to purchase said
property for $2,500.00 cash down payment, with the balance to
be paid in six equal annual installments of $2,500.00 each, or
more, due on the anniversary date of the close of escrow,
with interest on the declining balance at seven percent per
annum payable annually with principal and to be evidenced by an
unsecured note for $15,000.00 on these terms, and the Sellors
agree to these terms.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF GILROY and
the City Council does hereby find, that the City has sufficient
funds to purchase said property for cash without violating
Article XI, Section 18 of the Constitution of the State of
California, but desires to purchase for installments as
aforesaid;
BE IT FURTHER RESOLVED that the mayor of the City of
Gilroy be, and he is hereby authorized to execute on behalf
of the City all documents necessary, including a Deposit
Receipt and a Promissory Note on the above terms, to complete
the purchase by the City on the terms described herein the
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seven acres of real property owned by JOHN H. STELLING and
INEZ EQ STELLING, his wife, a description of which is annexed
hereto as Exhibit "A".
PASSED AND ADOPTED this 2nd day of June, 1969, by the
following vote:
AYES:
COUNCILMKMBERS: BATREZ, DUFFIN, KENNEDY,
PATE, SILVA, WENTWORTH
and GOODRICH
NOE S :
ABSENT:
COUNCILMEMBERS: None
COUNCILMEMBERS: None
APPROVED:
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Mayor
ATTEST:
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Deputy City Clerk
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I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do
hereby certify that the attached Resolution No.
1358 is an original
resolution, duly adopted by the Council of the City of Gilroy at a
regular meeting of said Council held on the 2nd
day of June
, 19 69, at which meeting a quorum was present.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of the City of Gilroy, this 5th
, 19 69 .
day of June
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City Clerk of the City
by .-
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Deputy City Clerk /
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