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<br />the motion. Motion passed 6-0. <br />ORDINANCE NO. 1050, SERIES 1991 - TRANSFERENCE BY QUIT CLAIM DEED <br />AND TITLE AND INTEREST OF THE CITY OF LOUISVILLE IN CERTAIN <br />EASEMENTS AND RIGHTS OF WAY - 2ND READING - PUBLIC HEARING <br />Griffiths read by title only Ordinance No.' 1050, Series 1991, "An <br />Ordinance transferring by Quit Claim Deed any title and interest of <br />the City of Louisville in Certain Easements and Rights-of-Way." <br />Mayor Fauson opened the public hearing. Certification of <br />publication was established. <br />Tom Phare, Director of Public Works gave a description of the <br />location of the property in question. There is a question regarding <br />whether it is a part of the existing IGA. <br />Mayor Fauson called for public comments. NONE <br />Griffiths: I would just note that there has been an <br /> amendment to the Ordinance since the time <br /> it was adopted on 1st Reading. The' <br /> amendments appear in the revised <br /> ordinance. The amendments appear in the <br /> first "Whereas" clause and in Section 1 <br /> of the ordinance. Originally, the <br /> ordinance read that the Resolution Trust <br /> Corporation was the owner of the property <br /> and we have since been advised that it is <br /> currently owned by Arthur L. Bronstein. <br /> The Resolution Trust Corporation does <br /> have some interest in the property at <br /> this time because of a loan on the <br /> property. Your motion, if you should <br /> decide to approve, should approve the <br /> Ordinance No. 1050 as amended. Secondly <br /> I would just recommend that in the motion <br /> that approves the ordinance on 2nd <br /> Reading, if you desire to approve it, <br /> should include a clause that states that <br /> the Council directs that the Quit Claim <br /> Deed not be delivered to Mr. Bronstein <br /> until such time as the City of Louisville <br /> has received the sum total in the account <br /> which is referred to in the whereas <br /> clauses. We have been working with the <br /> two attorneys whose names are on the <br /> account, it is in the nature of an escrow <br /> account. We believe the problems that <br /> exist in terms of releasing that account <br /> are being worked out and will be worked <br /> out in the near future. However, it <br /> 6 <br />