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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: c city Jerk D AS TTHE RI t O...... - H---. CCLERK OTCI F NEW O T EEACH JAN 18 4974 DAY& ._._------------- -------- ---- _._.._._...... -._.- • DON :mh -2- 1/10/74