HomeMy WebLinkAbout65-021RESOLUTION 65-21 AUTHORIZING EXECUTION OF
ESCROW INSTRUCTIONS AND PA'fi~iENT FOR CANCELLATION
AND R~fOVAL OF APPURTENANCY OF SANTA ANA VALLEY
IRRIGATION COi~iPAB~~ WATER STOCK
WHEREAS, in the process of certain street work it was found
to be necessary to remove and relocate certain Santa Ana Valley
Irrigation C~mpany structures or to arrange for service through
them to be discontinued; and
WHEREAS, the more economical and more satisfactory solution
was determined to be discontinuation of the use of said Santa Ana
Valley Irrigation line and appurtenant structures, and ~ne City
has negotiated agreements with the only three owners using said
line; and
WHEREAS, the CASTILE CHRISTIAN CHURCH, a corporation, is the
owner of 2 certificates representing 4.56 shares of Santa Aha Valley
Irrigation Company Water Stock and has agreed to the desirability of
removing the water stock appurtenancy from the land owned by them
between Bishop and Chestnut Streets and accepting water service from
the City of Santa Aha, all as set out in the escrow instructions;
and
WHEREAS, said Corporation's stock is represented by two
certificates, one numbered 22594 for 4.05 shares, and one numbered
23S37 for 51/100 of a share; that due to error in the preparation
of escrow instructions reference to Certificate No. 22594 was
omitted, but in all other respects said escrow expresses the
agreement between the parties.
NOW, THEREFORE, BE IT RESOLVED: That the City of Santa Ana
approves the agreement with the C~ILE CHRISTIAN CHURCH, a corpora-
tion, as expressed by Escrow No. 52379-C through Security Title
Insurance Company and authorizes the Mayor of the City to execute
the same for and on behalf of the City and directs that the sku of
$3,000.00, a portion of the consideration to be given by the City,
be paid into said Escrow for the benefit of said corporation when
amended escrow instructions providing for the cancellation by said
corporation of Certificate NO. 22594,representing 4.05 shares of
stock of the Santa Aha Valley Irrigation Company, have been signed
by the parties hereto so that the cancellation of the appurtenancy
of 4.5~ shares of Santa Ana Valley Irrigation Company Water Stock
shall be shown as the consideration to be given by the C~4ILE
CHRISTIAN CHURCH, a corporation.
BE IT FURTHER RESOLVED: ~fhat said ~nended escrow instructions,
in strict compliance with this Resolution, may be executed for and
on behalf of the City by the Director of Public Works as an amendment
of the original instructions to avoid unnecessary delay in the paying
of the cash consideration to said Church corporation.
PASSED AND ADOPTED by the City Council of the City of Santa
Aha at its regular meeting held on the 1st day of February, 1985.
AT'~EST:
CLERK OF THE COUNCIL
STATE OF CALIFORNIA)
COUNI~f OF ORANGE )
CITY OF SAN~A ANA )
SS
I, DORIS H. BROWN, do hereby certify that I am the Clerk of
the Council of the City of Santa Ana; that the foregoing Resolution
was regularly introduced to said Council at its regular meeting held
on the 1st day of February, 1965, and was at said meeting regularly
passed and adopted by the following vote, to wit:
AYES,
NOES,
ABSENT,
COUNCI~4EN:
COUNCILMEN:
COUNCIL~iEN:
Hubbard, Harvey, Gilmore, Schlueter, Hall
None
None
CLERK OF THE COUNCIL
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