HomeMy WebLinkAbout8460 - Settlement of Pending Litigation•
RESOLUTION NO. 8460
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE AN AGREEMENT BETWEEN THE CITY
OF NEWPORT BEACH, THE STATE OF CALIFORNIA, THE
COUNTY OF ORANGE, THE IRVINE COMPANY AND FIRST
AMERICAN TITLE COMPANY FOR TRANSFER OF CERTAIN
REAL PROPERTY TO THE STATE OF CALIFORNIA AND THE
CITY OF NEWPORT BEACH BY THE IRVINE COMPANY AND
FOR THE SETTLEMENT OF PENDING LITIGATION
WHEREAS, there has been presented to the City Council
of the City of Newport Beach a draft agreement between the
City of Newport Beach, the State of California, the County of
Orange, The Irvine Company and First American Title Company,
relating to the transfer of certain real property to the State
of California and the City of Newport Beach by The Irvine Company
and for the settlement of pending litigation; and
WHEREAS, the City Council has considered the terms
and conditions of said agreement and found them to be fair and
equitable, and in the best interests of the City;
NOW, THEREFORE, BE IT RESOLVED`:by the City Council
of the City of Newport
agreement incorporating
of said draft agreement
is hereby approved, and
authorized and directed
of Newport Beach.
ATTEST:
3each that said agreement or a final
substantially the same terms and conditions
approved as to form by the City Attorney
the Mayor and City Clerk are hereby
to execute the same on behalf of the City
ADOPTED this 24th day of March
2
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1975.
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3/18/75