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RESOLUTION NO. 80- 18 <br />PAGE TWO <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 has considered all terms and <br />conditions of the proposed sale and hereby finds and <br />determines that the redevelopment of the Property pursuant <br />to the proposed Agreement is in the best interests of the <br />City and the health, safety, morals and welfare of its <br />residents, and is in accord with the public purposes and <br />provisions of the applicable state and local laws. <br /> <br /> 2. The City Council hereby finds and determines <br />that the consideration for the sale of the Property pursuant <br />to the Disposition and Development Agreement between the <br />Agency and California Teachers Federal Credit Union is not <br />less than the fair market value of the Property in <br />accordance with the covenants and conditions governing the <br />sale. <br /> <br /> 3. The sale of the Property by the Agency to <br />California Teachers Federal Credit Union and the Disposition <br />and Development Agreement which establishes the terms and <br />conditions for the sale and development of the Property, are <br />hereby approved. <br /> <br /> ADOPTED this 21st day of <br />the following vote: <br /> <br />January <br /> <br />, 1980, by <br /> <br />AYES: COUNCILMEN: Griset, <br /> Ward, <br />NOES: COUNCILMEN: Markel <br /> <br />Luxembourger, Serrato, <br />Yamamoto <br /> <br />ABSENT: COUNCILMEN: Bricken <br /> <br />ATTEST: <br /> <br />APPROVED AS TO FORM: <br /> <br />KEITH L. GOW <br />City Attorney <br /> <br />MAYOR <br /> <br /> <br />