Resolution - 7135RESOLUTION NO. 7135
"A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WEST COVINA AUTHORIZING AN APPROPRIATION TO THE CITY
• OF WEST COVINA REDEVELOPMENT AGENCY FROM THE
REDEVELOPMENT REVOLVING FUND FOR THE PURCHASE OF
CERTAIN REAL PROPERTY IN THE CENTRAL BUSINESS
DISTRICT REDEVELOPMENT PROJECT (RINGEL PROPERTY)".
The City Council of the City of West Covina does resolve and
determine by a majority vote as follows:
• WHEREAS, real property lying within the proposed expansion area
of the West Covina Fashion Plaza has become available for purchase through
a Probate Real Property Purchase Bid; and
WHEREAS, on May 28, 1985, the City of West Covina Redevelopment
Agency authorized Agency staff to proceed with acquisition of the real
property owned by the estate of Harry.M. Ringel, via a Probate Real
Property Purchase Bid; and
WHEREAS, on or about December 20, 1985, it will be necessary to
deposit $815,500 in the form of a cashier's check with Security Pacific
National Bank Escrow #259-44-86-G, located at 1901 Avenue of the Stars, Los
Angeles, California 90067; and
WHEREAS, the City Council of the City of West Covina may
appropriate funds from the redevelopment revolving fund to the City of West
Covina Redevelopment Agency for acquisition of real property in any project
area.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
West Covina, as follows:
Section 1. The City Council approves the appropriation of
$815,500 from the redevelopment revolving fund to the City of West Covina
Redevelopment Agency for the purchase of real property located in the
Central Business District Redevelopment Project in accordance with Health
and Safety Code Section 33623 (a).
Section 2. The City Clerk shall certify to the adoption of this
resolution by not less than a two-thirds vote of the City Council.
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Mayor
ATTEST:
W-T
is I HEREBY CERTIFY that the foregoing Resolution No. 7135 was
duly adopted by the City Council of the City of West Covina at an adjourned
regular meeting thereof held on the 16th day of December, 1985, by the
following vote:
AYES: Bacon, Manners, Shearer, Tennant
NOES: None
ABSENT: Chappell
ABSTAIN: None
City Clerk
APPROVED AS TO FORM:
Assist ity Att rney