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RESOLUTION NO. 79-154 <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 COUNCIL <br />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 to <br />the Participation Agreement between the Agency and Jones <br />Development Corporation is not less than the fair market <br />value of the Site in accordance with the covenants and con- <br />ditions governing the sale. <br /> <br /> 2. The sale of the Site by the Agency to Jones <br />Development Corporation and the Participation Agreement which <br />establishes the terms and conditions for the sale and devel- <br />opment of the Site, are hereby approved. <br /> <br />ADOPTED this 17th day of September , 1979, <br />by the following vote: <br /> <br />AYES: <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />COUNCILMEN: Bricken, Griset~ Luxembourger, Serrato, <br /> Ward~ Yamamoto <br />COUNCILMEN: Markel <br /> <br />COUNCILMEN: None <br /> <br />ATTEST: <br /> <br />CLERK TaE COUNCIL <br /> <br />APPROVED AS TO FORM: <br /> <br />MAYOR <br /> <br />KEITH L. GOW <br />CITY ATTORNEY <br /> <br /> <br />