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<br />RESOLUTION NO. 20 <br />SERIES 2005 <br /> <br />A RESOLUTION APPROVING A PURCHASE CONTRACT TO BUY AND SELL REAL <br />ESTATE FOR SALE OF THE EXISTING LOUISVILLE LIBRARY PROPETY <br /> <br />WHEREAS, the City of Louisville is the owner of certain real property legally described as <br />Lots 1 through 3, Block 3, Louisville Old Town, City of Louisville, County of Boulder, State of <br />Colorado, and having a street address of950 Spruce Street (hereinafter "the Library Property"); and <br /> <br />WHEREAS, the Property is the current site of the Louisville Library, which library will be <br />relocated to the new library building currently under construction at the northwest corner of Spruce <br />and Front Streets; and <br /> <br />WHEREAS, the City Council desires to sell the Library Property, and has received a <br />proposed Purchase Contract to Buy and Sell Real Estate for sale of the Library Property for <br />$1,700,000 to Louis J. DellaCava and/or assigns; and <br /> <br />WHEREAS, the City desires to sell the Library Property to such purchase upon the terms <br />and conditions of a mutually-agreeable purchase contract. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br /> <br />1. The proposed Contract to Buy and Sell Real Estate between the City of Louisville <br />and Louis J. DellaCava and/or assigns, for sale of the Library Property at 950 Front Street in <br />Louisville, is hereby approved in essentially the same form as the copy of such Contract <br />accompanying this Resolution. <br /> <br />2. The Mayor is authorized to execute the Contract, except that the Mayor is hereby <br />granted the authority to negotiate and approve such revisions to said Contract as the Mayor <br />determines are necessary or desirable for the protection of the City, so long as the essential terms <br />and conditions of the Contract are not altered. <br /> <br />3. The Mayor, City Manager and City Staff are further authorized to do all things <br />necessary on behalf of the City to perform the obligations of the City under the Contract, and are <br />further authorized to execute and deliver any and all closing documents and other documents <br />necessary to effect the sale of the Property under the terms and conditions of said Purchase <br />Contract. <br /> <br />\, <br /> <br />PASSED AND ADOPTED this ih dayofJune, 2005. <br /> <br />.tIJ/ <br />Charl1 .' Mayor <br /> <br />1 <br />