HomeMy WebLinkAbout1967 Resolution No. 023··o
IU:80LUTION NO. 23, SEIUES OF 1967
A ru;sot.UTION AUTllOIUZING TllE ~:NGA<.ilNU 01•' A 1''1NANCIAL CONSULTANT AND AGENT
Fnll TllF l'llllllftNF n1·· FX-lo:t'llTfNO AN t\f1JH:t•:MF.NT WITH/\ PHOPOSF.D NON-PHOFIT
COUPOltATIUN.
WHEREAS, the City of F.nglewood 41d. by virtue of the passage of People's Ordinance
No. 3, Serles of 1964, execute a lease agreement, whereby the City leased a certain parcel
of realty, together with the Improvements thereon, for a period of thirty-three (33) years,
terminating on January 1, 1998, at and for a total rental payment for said term of approx-
imately Two Million, Five Hundred Eight Thousand Dollars ($2, 508, 000. 00), which realty
and Improvements Is now ln use as tho City's City llall, and
WllEHEAS, tUUd ~1·uumu11l ~uvu lo Lim cH.v lhu rt,.;hl uucl oµtlu11 tu puruhuao i:iulcl
realty. and Improvements. in accordance with the terms and provisions of said agreement, and
\\'IJJ <llEA~. II """ ltt•••n '""c•nmnwt1rl1'fl tn rnunpll fhnt n non-profit corporation he
(ormed lo awquir~ Ulfo lo ttatid i·u&lily and tmprovtmumht and lhal lhv ctly tmlt.st• halo u
lca11e lgrftoment with said corporation containing provisions which would authorize the
"lty to acquire title thereto al the end or a fifteen (15) year period, and,
WllEHEAS, this recommondaUon, lf followed, would l'ettull tn lhu Ctly acqufrto~
lUlt' tu Mtahl 1·;.1ell :v ttnt1 tmalrovttmttnfM Af n oo,.t of apprmdmatel~ One MUUon Three Hun-
dr(,'fl Scvt•nty Thousand IJollnrs ($1.!J70,000.00). and
WllEltEAS, the firm of lioetworth, Sulltvu.n und Company, lnc., u. m~ml.JtH' of
Um Now York Htock Exohango, hnH offorod to ant n11 financial oon1ultant and fiscal agent
for ttw Cl·tv nod the proposcrl non-profit corporation, In accordance with the terms and
pruvlnh•tui ol' lhul lc 1llc 1a· uf Maa ,\' :~·llh, ltHI '/. n •••tt•.\' nf whlc•h In .. ttn1•h1•1I h1•r••tn, nmt
w1rn1tt:A8, It Is In tho flnWJcJal lntorm•l of lho Clly and lltt laxpay6r8 to offocl
llu• HnvhtKH thnt Htlf'h n p1"opottn1 wouhl hrfng,
NOW, THEREFORE, BE IT RESOLVED as follows:
1. That the Mayor and City Clerk are hereby authorized and directed to accept,
on behalf of the City, the proposal of the firm of Bosworth, Sulll van and Company, Inc. ,
u ouWned in Its letter of May 24, 1967.
2. That said firm be, and is hereby, authorized to engage the services of the
firm of Tallmadge, Tallmadge, Willson and Lamm, to render to the City and said
proposed non-profit corporation all necessary legal services to accomplish the
purposes of said proposal in accordance with the provisions of said letter of May
24, 1967.
ATTEST:
City Clerk
I, Stephen A. Lyon, City Clerk-Treasurer of the City of Englewood, do hereby
certify that the above and foregoing ls a true, accurate and complete copy of a resolution
adopted by the City Council of the City of Englewood at its regular meeting on June 5, 196 7.
City Clerk-Treasurer
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