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RESOLUTION NO. 79-18 <br />PAGE TWO <br /> <br /> WHEREAS, the City Council has considered all terms <br />and conditions of the proposed sale and believes that the <br />redevelopment of the Site pursuant to the proposed Agreement <br />is in the best interests of the City and the health, safety, <br />morals and welfare of its residents, and is in accord with <br />the public purposes and provisions of the applicable state <br />and local laws. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY <br />COUNCIL OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br /> 1. The City Council hereby finds and determines <br />that the consideration for the sale of the Site pursuant <br />to the Participation Agreement between the Agency and <br />American National Properties, Inc. is not less than the <br />fair market value of the Site in accordance with the <br />covenants and conditions governing the~ sale~ ~ ~ · <br /> <br /> 2. The City Council hereby finds and determines <br />that the consideration for sale of the Site pursuant to the <br />Agreement is necessary to effectuate the purposes of the <br />Redevelopment Plan. <br /> <br /> 3. The sale of the Site by the Agency to <br />American National Properties, Inc. and the Participation <br />Agreement which establishes the terms and conditions for <br />the sale and development of the Site, are hereby approved. <br /> <br /> ADOPTED this 15th day of January , 1979, <br />by the following vote: <br /> <br /> AYES: COUNCILMEN: Brandt, Bricken, Evans, <br /> Garthe, 0rtiz, Yamamoto <br /> NOES: COUNCILMEN: Ward <br /> <br />ABSENT: COUNCILMEN: <br /> <br />ATTEST: <br /> <br />CLERK OF THE <br /> <br />APPROVED AS TO FORM: <br /> <br />KEITH L. GOW <br />CITY ATTORNEY <br /> <br />MAYOR <br /> <br /> <br />