HomeMy WebLinkAbout8178 - 32nd Street Widening Property ExchangeRESOLUTION NO. 8178
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING EXECUTION OF AN
AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH
AND SOUTHERN PACIFIC TRANSPORTATION COMPANY
FOR THE EXCHANGE OF PROPERTY IN CONNECTION
• WITH THE WIDENING OF 32ND STREET; AND
AUTHORIZING THE EXECUTION AND ACCEPTANCE OF
GRANT DEEDS CONVEYING THE RESPECTIVE PARCELS
OF PROPERTY
WHEREAS, the City of Newport Beach holds title to
certain real property located in the City of Newport Beach,
known as Parcel E, as shown on a parcel map recorded in
Book 32, page 41 of Parcel Maps in Orange County; and
WHEREAS, Southern Pacific Transportation Company
holds title to certain real property, known as Parcels A, B,
C, and D, as shown on a parcel map recorded in Book 32,
page 41 of Parcel Maps in Orange County; and
WHEREAS, the City of Newport Beach and Southern
Pacific Transportation propose to enter into an agreement
whereby Parcel E would be exchanged for Parcels A, B, C, and
D; and
WHEREAS, the area of Parcel E is approximately the
same as the sum of the areas of Parcels A, B, C, and D, and
their exchange value is equal; and
WHEREAS, the City Council has considered said agree-
ment and has determined that it would be in the best interest
of the City to exchange Parcel E for Parcels A, B, C, and D
under the terms and conditions as set forth in said proposed
agreement;
NOW, THEIE FORE BE IT RESOLVED by the City Council
of the City of Newport Beach that the Mayor and City Clerk
are hereby authorized to execute an agreement between the
•
City of
Newport
Beach
and
Southern Pacific
Transportation
Company
setting
forth
the
terms, conditions
and procedures for
the exchange of Parcel E for Parcels A, B, D, and D as
-1-
hereinafter more particularly described:
PARCEL E
Parcel E in the City of Newport Beach, County of
Orange, State of California, as shown on a Parcel Map
recorded in Book 32, page 41 of Parcel Maps in the
Office of the County Recorder of said County;
PARCELS A, B, C, AND D
Parcels A, B, C, and D in the City of Newport
Beach, County of Orange, State of California, as
shown on a Parcel Map recorded in Book 32, page 41
of Parcel Maps in the office of the County Recorder
of said County.
BE IT FURTHER RESOLVED that the Mayor and City
Clerk are hereby authorized to execute a corporation grant
deed conveying Parcel E to Southern Pacific Transportation
Company, and to accept a corporation grant deed from
Southern Pacific Transportation Company conveying Parcels A,
B, C, and D to the City of Newport Beach.
ADOPTED this 14th day of January, 1974.
ATTEST:
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city Jerk
D AS TTHE
RI t O...... - H---. CCLERK OTCI F NEW
O T EEACH
JAN 18 4974
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•
DON :mh
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