HomeMy WebLinkAboutresolution.council.026-83RECORD OF PROCEEDINGS
100 Leaves
(Series of 1983)
A RESOLUTION APPROVING THE PURCHASE (BY EXERCISE OF AN OPTION IN
THE CITY) OF UNIT 2, McARTHUR CONDOMINIUMS, PITKIN COUNTY, COLO-
RADO, FROM ROBERT A. AND DIANE M. McCLUNG (THE "McCLUNGS"),
ACCORDING TO THE PREVIOUSLY-APPROVED "PURCHASE, SALE AND OPTION
AGREEMENT" OF AUGUST 26, 1980, BETWEEN THE CITY AND THE McCLUNGS,
AS AMENDED BY THE CITY COUNCIL ACTIONS OF JUNE 13, 1983 (SETTING
HASE PRICE AT $165,000.00) AND JULY 25, 1983; AUTHORIZING,
THE PURC E CITY'S OPTION TO PURCHASE
IN THE ALTERNATIVE, THE TRANSFER OF TH
SAID UNIT 2 TO ASPEN SCHOOL DISTRICT RE-1 IN EXCHANGE FOR AN
OPTION AGREEMENT BETWEEN THE CITY AND THE SCHOOL DISTRICT ACCORD-
ING TO THE CITY'S NOW-STANDARD "PURCHASE, SALE AND OPTION AGREE-
MENT'' AND A CLOSING ON THE UNIT BY THE SCHOOL DISTRICT; AND
AUTHORIZING THE MAYOR OR THE CITY MANAGER TO EXECUTE ALL DOCUMENTS
NECESSARY TO COMPLETE THE PURCHASE OR TRANSFER TRANSACTION
WHEREAS, under that certain Purchase, Sale and Option Agree-
ment of August 26, 1980, between the City of Aspen and Robert A.
and Diane M. McClung affecting Unit 2, McArthur Condominiums, Pit-
kin County, Colorado, the City had certain option and purchase
rights in said unit; and
WHEREAS, the City Council, by earlier action pursuant to that
Agreement, gave notice of exercise of the option, approved a gross
purchase price for the unit of $165,000.00
modifications, certain other conditions of
in that letter from Robert A. and Diane M.
Aspen on May 27, 1983; and
and approved, with
the sale as contained
McClung to the City of
WHEREAS, Aspen School District RE-1 has expressed an interest
in purchasing said Unit 2 (pursuant to the City's option) for
occupancy by its key employees, subject to the now-standard "Pur-
chase, Sale and Option Agreement' between the City and the School
District; and
WHEREAS, the City Council finds that it is in the best inter-
ests of the City to purchase the condominium unit pursuant to the
Agreement as modified by the Council's later actions or to trans-
fer its option rights to the School District;
RECORD OF PROCEEDINGS
100 Leaves
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
CITY OF ASPEN, COLORADO:
Section 1
That the purchase of Unit
OF THE
2, McArthur Condominiums, Pitkin
County, Colorado, for $165,000.00 is hereby approved, pursuant to
the terms of that certain Purchase, Sale and Option Agreement of
August 26, 1980, between the City of Aspen and Robert A. and Diane
M. McClung, as modified by Council actions at its meetings of June
13, 1983 (accepting, with modifications, the terms contained in
the letter of May 27,
July 25, 1983.
Section 2
That, in the
1983, from the McClungs to the City) and
alternative, the transfer of the City's option
rights on said Unit 2 to Aspen School District RE-1 is hereby
approved subject to occupancy of the units by School District's
key employees and the City's option rights pursuant to the now-
standard Purchase, Sale and Option Agreement" to be executed by
the City and the School District.
Section 3
That the Mayor or the City Manager is authorized and directed
to execute such documents as are necessary to complete the pur-
chase or transfer transaction after such documents are approved as
to form by the City Attorney.
Dated: ~
, 1983.
William L. Stirling, y~
I, Kathryn S. Koch, duly appointed and acting City Clerk do
certify that the foregoing is a true and accurate copy of that
resolution adopted by the City Council of the City of Aspen,
Colorado, at a meeting held ~ ~ , 1983.
Kathryn S~/ Koch, City Clerk