HomeMy WebLinkAbout5341 - Humble Oil & Refining Company12
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1 RESOLUTION NO. 5341
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH APPROVING THE CONVEYANCE,
3 ASSIGNMENT AND TRANSFER.OF THE CONTRACTUAL
RIGHTS OF.MONTEREY OIL COMPANY WITH THE CITY
4 OF NEWPORT BEACH TO HUMBLE OIL &.REFINING..
COMPANY
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6 WHEREAS, the City of Newport Beach and Monterey Oil
7 Company, a Delaware corporation, are parties to the following
8 contracts;
9 11 A contract dated the 31st day of January, 1955,
10 approved.by City Council resolution No. 4300, in which
11 Monterey Oil Company, a Delaware corporation, and Humble
12� Oil & Refining Company (now a Delaware corporation) are
13 designated as "Contractor ", and under which said contractor
14 has the obligation to produce certain oil, gas and hydro -
15 carbon substances from certain territory particularly
16�. described therein.
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2. A contract dated the 19th day of March, 1956,
approved by City Council resolution No. 4467, in which
said Monterey Oil Company and said Humble Oil & Refining
Company are designated as "Producer's Contractor" and
said Monterey Oil Company is designated as "Gasoline
Company ", and under which said Monterey Oil Company has
the obligation to purchase gasoline and dry gas as pro"
vided in said contract.
3. A contract dated July 11, 1960, approved by
City Council resolution No. 5272, under which the City of
Newport Beach agrees to sell certain surplus water to said
Monterey Oil Company;
WHEREAS, said Monterey Oil Company and said Humble Oil
& Refining Company have reached an agreement under which said
Monterey Oil Company will convey, assign and transfer to Humble
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Oil & Refining Company all of its property, assets, and contract
rights effective as of 12 o'clock midnight on December 31, 1960s
except certain property, assets, and rights with which the City
has no concern; and
WHEREAS, said Monterey Oil Company has requested the
to consent to said conveyance, assignment and transfer by said
Monterey Oil Company to said Humble Oil & Refining Company to the
extent said conveyance, assignment and transfer applies to the
contracts with the City of Newport Beach; and
WHEREAS, it appears that said Humble Oil & Refining
Company is an established oil company with wide experience and
is fully able to perform the obligations of said Monterey Oil
Company under all of said contracts; and
WHEREAS, it appears that said conveyance, assignment and
transfer would not disrupt the operations under said contracts and
would not in any way be against the interests of the City of
Newport Beach;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
City of Newport Beach that the City hereby consents to the convey-
ance, assignment and transfer of all of the property, assets and
contractual rights of said Monterey Oil Company to said Humble
Oil & Refining Company to the extent said conveyance,.assignment
and transfer applies to the contracts with the City of Newport
Beach on condition that said Humble Oil & Refining Company shall
in writing expressly assume all of the obligations and liabilities
of said Monterey Oil Company and on the further condition that the
City of Newport Beach be furnished with an executed copy of the
document by whichsaid Humble Oil & Refining Company does expressly
assume all of the obligations and liabilities of said Monterey Oil
Company under`the contracts with the City of Newport Beach.
ADOPTED this 12th da ecembe , 960
ATTEST,--. ... Mayor
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STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF NEWPORT BEACH)
I, MARGERY SCHROUDER, City Clerk of the City of Newport
Beach, California, do hereby certify that according to the records
of the City of Newport Beach filed and maintained in my office,
the foregoing Resolution Noy 5341 was duly and
regularly adopted, passed, and approved by the City Council of
the City of Newport Beach, California, at a regular meeting of
said City Council held at the regular meeting place thereof, on
the 12th day of December 1960 by the following
vote, to wit:
AYES, COUNCILMEN: Kingsley,_ Atkinson, Cook, Stoddard,
Hart, Lorenz, Somers
NOES, COUNCILMEN: None
ABSENT, COUNCILMEN: None
Dated this 14th day of December 19 60
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Zrity Clerk an x- ficio C efT o£T
City Council, City of Newport Beach,
State of California.