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HomeMy WebLinkAbout1990-114-07/17/1990-281 NORTH COLLEGE AVENUE APPROVING AGREEMENT PURCHASE AND SALE RESOLUTION TRUST CORPORATION RESOLUTION 90-114 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING AGREEMENT OF PURCHASE AND SALE OF REAL PROPERTY BETWEEN RESOLUTION TRUST CORPORATION, AS CONSERVATOR OF TOPEKA SAVINGS, A FEDERAL SAVINGS AND LOAN ASSOCIATION, AS SELLER, AND THE CITY OF FORT COLLINS, AS PURCHASER, FOR THE PURCHASE OF 281 NORTH COLLEGE AVENUE, FORT COLLINS, COLORADO WHEREAS, the City of Fort Collins, as purchaser, and the Resolution Trust Corporation, as conservator of Topeka Savings, a Federal Savings and Loan Association, as seller, entered into an Agreement of Purchase and Sale of Real Property, dated May 10, 1990, ("the Agreement") ; and WHEREAS, pursuant to the terms of the Agreement, the City of Fort Collins has agreed to purchase from the Resolution Trust Corporation that certain real property commonly known as 281 North College, Fort Collins, Colorado (hereinafter "the Real Property") ; and WHEREAS, the Agreement is contingent upon City Council approval ; and WHEREAS, Council finds that the purchase of the Real Property is in the best interests of the City of Fort Collins. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the purchase of the Real Property is in the best interests of the City of Fort Collins and that the RTC Agreement of Purchase and Sale is hereby approved, subject to the City Council 's subsequent appropriation of funds necessary to meet the City's obligations under the Agreement on or before September 7, 1990. Passed and adopted at a regular meeting of the City Council held this 17th day of July, A.D. 1990. JI'A'A"A 'J'0Z Mayor ATTEST: A City Clerk