1990-081-Authorizing Expenditure Of Funds For The Acquisition Of Property Of The Site Of A New Town LibraryRESOLUTION 1990 -81
RESOLUTION OF THE TOWN OF LOS GATOS AUTHORIZING
EXPENDITURE OF FUNDS FOR THE ACQUISITION OF PROPERTY FOR
THE SITE OF A NEW TOWN LIBRARY, AUTHORIZING AMENDMENT TO THE
PURCHASE AND SALE AGREEMENT AND AUTHORIZING THE MAYOR
TO EXECUTE THE AMENDMENT TO PURCHASE AND SALE AGREEMENT
AND RELATED DEEDS OF TRUST AND PROMISSORY NOTES
WHEREAS:
The Town of Los Gatos desires to acquire property for the purposes of building a
new Town Library; and
WHEREAS:
Wiley P. Montgomery and Bruce and Eva Ogilvie have entered into a Purchase and
Sale Agreement between the Town of Los Gatos and themselves to convey certain real
property to the Town which provides that the entire purchase price be paid within six (6)
months; and
WHEREAS:
The parties have agreed that the entire purchase price be paid by June 30, 1990.
BE IT RESOLVED by the Town Council of the Town of Los Gatos that
$1,501,139.90 be expended for the acquisition of the real property for the site for the
building of a new Town Library and related escrow expenses and that the Purchase and
Sale Agreement be amended to reflect the purchase price will be paid by June 30, 1990,
BE IT FURTHER RESOLVED the Mayor is authorized to execute the amendment
to Purchase and Sale Agreement and the deeds of trust and promissory notes related to this
transaction.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town
of Los Gatos, California, held on the 2nd day of April 1990, by the following vote.
COUNCIL MEMBERS:
AYES: Joanne Benjamin, Robert L. Hamilton and
Mayor Thomas J. Ferrito.
NAYS:
ABSENT: Eric D. Carlson and Brent N. Ventura.
SIGNED: A/ � _
MAYOR OF THE WN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
CLERK OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
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