HomeMy WebLinkAbout7675 - Reconveyance of County Courthouse SiteC
RESOLUTION NO_
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING EXECUTION OF AN
AGREEMENT BETWEEN THE CITY AND THE IRVINE
COMPANY IN CONNECTION WITH THE RECONVEYANCE OF
THE COUNTY COURTHOUSE SITE TO THE CITY
WHEREAS, on September 15, 1969, the City of Newport
Beach and The Irvine Company entered into an agreement for the
City to purchase the Civic Center site at Newport Center, reserving
unto The Irvine Company certain architectural review and mineral
rights; and
WHEREAS, following the purchase of said Civic Center
site, the County of Orange agreed to purchase from the City a
portion of said parcel, for use as a courthouse facility site; and
WHEREAS, as a requirement of the courthouse site sale
escrow, The Irvine Company was required to quitclaim the interests
reserved by it under the conveyance of the original parcel; and
WHEREAS, the City and the County have entered into an
agreement, dated March 7, 1972, to rescind the agreement for sale
of the courthouse site and for the City to repurchase, at the
original purchase price, the property conveyed; and
WHEREAS, an agreement between the City of Newport Beach
and The Irvine Company has been presented to the City Council,
with accompanying documents to be completed and executed, which
would provide the funding with which to reacquire the property
conveyed by the City to the County, and would restore the original
balance owed by the City against the entire original parcel, at
no expense to the City; and would effect the reconveyance of the
portion purchased by the County back to the City, re- imposing the
original conditions reserved by The Irvine Company;
NOW* THEREFORE* BE IT RESOLVED by the City Council of
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the City of Newport Beach that the Mayor and City Clerk are
hereby authorized and directed to execute the above described
agreement.-between The Irvine Company and the City of Newport
Beach, together with the accompanying documents necessary to
effect the terms of the agreement and to restore all of the
parties to their original position as of the date of the above
agreement dated September 15, 1969, between The Irvine Company
and the City of Newport Beach.
ADOPTED this 10th day of April, 1972.
ATTEST:
aE % CL B
City 'Clerk
CERTtFiED AS TH407J1GCN41tAL
CI CLE K OF THE CITY BEACH
AVIR 14 1972
DAM
Mal /yor,
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DON :mh
4/7/72