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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 80-18 <br />PAGE TWO <br /> <br />1. The Agency 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 />2. The Agency hereby finds and determines that <br />the consideration for the sale of the property pursuant to <br />the participation Agreement between the Agency and Mohler- <br />vista is not less than the fair market value of the Property <br />in accordance with the covenants and conditions governing <br />the sale. <br /> <br />3. The sale of the Property by the Agency to <br />Mohler-Vista and the Participation Agreement which <br />establishes the terms and conditions for the sale and <br />development of the property, are hereby approved. <br /> <br />4. The Chairman of the Agency is hereby <br />authorized to execute the Participation Agreement and Grant <br />Deeds pertaining thereto. <br /> <br />5. The Executive Director is hereby authorized <br />to take all steps, and to sign all documents and instruments <br />necessary to implement and carry out said Agreement on <br />behalf of the Agency. <br /> <br />ADOPTED this 19th day of <br />by the following vote: <br /> <br />February <br /> <br />, 1980, <br /> <br />AYES: <br /> <br />Bricken, Griset, Luxembourger, <br />Serrato, Yamamoto <br />Markel <br /> <br />MEMBERS: <br /> <br />NOES: <br /> <br />MEMBERS: <br /> <br />ATTEST: <br /> <br />ABSENT: MEMBERS: <br />ABSTAINED: MEMBERS: <br /> <br />None <br />Ward <br /> <br />~ <br /> <br />R~ <br /> <br />Executive Director/ <br />Recording Secretary <br /> <br />VICE CHAIRMAN <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />tid.ç <br /> <br /> <br />Agency Legal Counsel <br /> <br />II <br /> <br />lA <br />