HomeMy WebLinkAbout8767 - Acquisition of Inspiration PointI*- P.
RESOLUTION NO. 8767
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH REQUESTING THE COUNTY OF ORANGE
TO EXTEND THE TIME IN WHICH REVENUE SHARING
FUNDS SHALL BE DISBURSED OR ENCUMBERED FOR THE
ACQUISITION OF INSPIRATION POINT PROPERTIES
AND AMENDING EXISTING AGREEMENT
•
WHEREAS, the City of Newport Beach and the County
of Orange have entered into an agreement on March 18, 1975,
for the use of revenue sharing funds for the acquisition of
two lots located on Ocean Boulevard and Orchid Avenue in
Corona del Mar, commonly referred to as the Inspiration Point
Properties; and
WHEREAS, said agreement provides that said funds
must be disbursed or encumbered on or before July 1, 1975;
and
WHEREAS, on May 12, 1975, the Newport Beach City
Council adopted Ordinance No. 8490, requesting the County to
extend the time for disbursing or encumbering said funds until
January 1, 1976. Said request was granted by the County; and
WHEREAS, the City sponsored legislation to provide
State matching funds for the purchase of said properties. Said
legislation was never enacted; and
WHEREAS, because the State legislation failed, the
City found that it was impossible to encumber the revenue
sharing funds by January 1, 1976; and
WHEREAS, the City of Newport Beach is planning an
• open space property acquisition bond election to be held in
March of 1977 which, if successful, will provide the necessary
• matching funds for the acquisition of the Inspiration Point
Properties; and
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•
•
•
WHEREAS, the City Council wishes an extension of time
within which to disburse or encumber these revenue sharing
funds pending the open space bond election; and
WHEREAS, it may be necessary to amend the agreement
between the City of Newport Beach and County of Orange dated
March 18, 1975, to provide for an extension of time and /or
to permit bond monies to be used as a source of funds as the
City's share of the project;
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Newport Beach that the City Council hereby
requests the County of Orange to extend the time for disbursing
or encumbering the revenue sharing funds for the acquisition
of the Inspiration Point Properties from January 1, 1976 to
July 1, 1977.
BE IT FURTHER RESOLVED that the Mayor and City Clerk
are hereby authorized to execute any amendment to the revenue
sharing agreement between the City of Newport Beach and the
County of Orange dated March 18, 1975, which may be necessary
to carry out the intent of this resolution.
BE IT FURTHER RESOLVED that the City Clerk of the
City of Newport Beach shall transmit a copy of this Resolution
to the Board of Supervisors for the County of Orange for their
consideration.
ADOPTED this 10th
ATTEST:
City Clerk
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CITY CLERK OF THE CITY OF "WOU BEAfZO
.MAY T 2
DATE:
day of May , 1976.
IL
Mayor
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4/30/76