HomeMy WebLinkAbout4.9 Completion of Valley High Purchase boa-3d
CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: March 9, 1987
SUBJECT Completion of Valley High School Purchase
EXHIBITS ATTACHED Memorandum from City Attorney dated March 3, 1987;
Resolution Approving Second Addendum; Resolution
Approving Prior Agreement and Addendum; Budget Change
Form
RECOMMENDATION '1) Adopt Resolution
26) ) ) Approve budget change form
FINANCIAL STATEMENT: The City will receive $5, 260 per month rent from the
close of escrow through the date in which the District
removes the school buildings. (No Later than July 15,
1987 ) . The purchase of the property was approved
September 22, 1986, however,it was anticipated that
payment of $341, 675 would occur in fiscal year
1987/88. Therefore, an additional appropriation is
required in the current year to conclude the
transaction.
DESCRIPTION The City Council authorized the purchase of the Valley
High School property at the regular City Council meeting on September 22,
1987 . The agreement contains an agreed purchase price of $841, 675.
The agreement was originally structured to allow the School District to draw
upon a $500, 000 cash deposit. This would provide access to funding to
prepare a new school site . The City would receive a credit equivalent to
7 1/2% interest per year on any funds withdrawn. The intent was to protect
the City from losing investment income, given that it would have an
investment in property which could not be used until the school removed the
buildings .
Staff has been contacted by representatives of the Amador Valley Joint Union
High School District with a request to consider completion of the purchase
transaction at this time. The District has finalized plans on the
relocation site for the school and can use the proceeds from the sale to
cover expenses related to preparing a new site . In exchange for the early
closure of the sale, the District would then lease the property from the
City. The lease amount is equivalent to interest earnings on the sales
price at 7 1/2% per year. The District would be required to remove the
buildings by July 15, 1987 . The lease would begin at the close of escrow
and terminate upon removal of the buildings . The City would receive $5, 260
per month in lease revenue.
The City Council approved a budget change on September 22, 1986 for
$500, 000 . This represented the anticipated down payment during Fiscal Year
1986-87 . The balance of the purchase price was anticipated to be paid in
July of 1987, which would be a 1987-88 Fiscal Year expense . If escrow
closes in 1986-87, it will be necessary for the City Council to authorize an
additional appropriation of $341, 675 from the City' s Facility Acquisition
and Construction and Street Improvement Reserve to the Civic Center Capital
project fund.
This transaction will also allow the City Attorney to close the escrow on
the Dublin San Ramon Services District Land Swap. The escrow is currently
pending due to the involvement of school district property which will be
owned by the City. Once the school transaction is complete, the City as
owner of the property can complete the transaction.
Staff would recommend that the City Council adopt the resolution and
authorize the budget transfer.
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COPIES TO: Tom Treto
ITEM NO. .. _
MEYERS, NAVE, RIBACK & WEST
MICHAEL R.NAVE ATTORNEYS AT LAW PENINSULA OFFICE
STEVEN R.MEYERS 1220 HOWARD AVE.,SUITE 250
NATALIE E.WEST CIVIC CENTER COMPLEX
ELIZABETH H.SILVER 835 EAST 14TH STREET BUR 5)3 a8 8 CA 94010
(41
MICHAEL S.RIBACK SAN LEANDRO,CALIFORNIA 94577 (a15)3 .7130
(415)577-3333 MARIN OFFICE
OF COUNSEL 1202 GRANT AVE..SUITE E
THOMAS F.BERTRAND NOVATO,CA 94947
MEMORANDUM (415)892-8878
REPLY TO:
TO: Rich Ambrose, Paul Rankin. and Tom Treto G
FROM: Michael R. Nave MAIR {t
DATE: March 3 , 1987 CM.- OF DUB
RE: Second Addendum to Agreement of Purchase and Sale
Pursuant to your direction, I have prepared a Second
Addendum to the Purchase Agreement between the City and School
District. The Second Addendum will permit escrow to close as
soon as desired, and provides for the School District to pay the
City $5,260.00 per month rent for its continued use of the
school buildings until July 15 , 1987 . The rent is equal to
7-1/2% annual interest on the purchase price of $841,675.00.
The amendments areas follows:
Section 3. Purchase Price. The last portion of
sub-paragraph b. has been deleted. This removes the requirement
that the City receive a credit for interest on the amount of the
purchase price deposited in escrow.
Section 4 . Interest Payment. The language has been
changed to provide for no interest payment.
Section 5 . Removal of School Buildings. Language has
been added to provide for a rental payment to the City for the
period that the School District remains in possession. As
stated above, the monthly rental is equal to 7-1/2% interest per
year which is the rate the City was to receive as a credit on
the purchase price.
Section 8 . Close of Escrow. Language has been
changed to provide for an immediate (24 hours) close of escrow.
This Addendum should be placed on the Agenda for
March 9 , 1987.
MRN/jm
RESOLUTION NO. - 87
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
**************************
AUTHORIZING SECOND ADDENDUM TO THE
AGREE14ENT OF PURCHASE AND SALE
(VALLEY HIGH SCHOOL SITE)
WHEREAS, the City of Dublin has agreed to purchase
property from the Amador Valley Joint Union High School District
in Resolution No. 97-86; and
WHEREAS, the School District can use the proceeds from
the sale for the relocation of the school ; and
WHEREAS, the Amador Valley Joint Union High School
District would like to obtain possession of the funds prior to
vacating the property; and
WHEREAS, the School District has agreed to lease the
property until it is vacated; and
WHEREAS, the City Attorney has prepared a Second
Addendum to Agreement of Purchase and Sale, attached hereto and
made a part of this resolution; and
-WHEREAS, said agreement will amend the documents adopted
with Resolution NO. 97-86.
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of Dublin hereby approves the Second Addendum and
authorizes the Mayor to execute said Agreement.
PASSED, APPROVED AND ADOPTED this 9th day of I-larch,
1987 .
AYES :
NOES :
ABSENT:
Mayor
ATTEST:
City Clerk
SECOND ADDENDUM TO THE
AGREEMENT OF PURCHASE AND SALE
(VALLEY HIGH SCHOOL SITE)
AMADOR VALLEY JOINT UNION HIGH SCHOOL DISTRICT ("Seller") ,
and the CITY OF DUBLIN ("Buyer") , hereby amend the Agreement for
Purchase and Sale and the First Addendum to said Agreement , each
dated September , 1986, as follows :
3 . Purchase Price. Buyer shall pay Seller a purchase
price for the Property in the amount of EIGHT .HUNDRED
FORTY-ONE THOUSAND SIX HUNDRED SEVENTY-FIVE DOLLARS
($841 , 675. 00) . The purchase price shall be paid as follows :
a. FIVE THOUSAND DOLLARS ($5 ,000.00) ( "the Cash
Deposit") shall be deposited into escrow.
b . The balance of the purchase price ("the Cash
Balance") shall be paid in cash. within five days
following receipt by Buyer of a written request from
Seller for said funds .
4. Interest Payment . There shall be no interest payment .
5 . Removal of School Buildings . Seller shall have the use
of the Property for the 1986-87 school year , provided
however , Seller shall remove said buildings from the
Property by no later than July 15 , 1987. The use of said
property following the close of Escrow shall be subject to
the following :
a. Seller shall lease Property from Buyer from the
close of escrow through the date in which the buildings
are removed from said Property. However , said lease
shall not extend beyond July 15 , 1987 .
b . As and for rent for the use of said Property,
Seller shall pay to Buyer the sum of FIVE THOUSAND TWO
HUNDRED SIXTY DOLLARS ($5 , 260.00) per month from the
date of the close of escrow to and including the date
in which the buildings are removed from said Property .
C . Seller shall remain responsible for all
maintenance , utilities and provision of liability
insurance for the term of said lease . Seller shall
provide proof of insurance which names Buyer as
additional insured . Limits of said insurance shall be
subject to approval of Dublin City Attorney.
8. Close of Escrow.
a . Time . Escrow shall close within twenty-four (24)
hours following receipt by- Title Company of the funds
and documents described in Section 7 , unless said
receipt occurs on a Friday in which case escrow shall
close on the next business day.
b. Procedure. Title Company shall close escrow as
follows :
(1) Record the Deed and deliver the Deed to
Buyer;
(2) Deliver a certified copy of the recorded Deed
to Seller;
(3) Pay to Seller the Cash Balance reduced by
Seller ' s Interest Payment to Buyer and Seller ' s
share of closing costs and prorations, as
hereinafter set forth; and
(4 ) Deliver the Title Policy to Buyer.
C . Special Instruction to Title Company. Buyer and
Seller may deposit separate escrow instructions with
Title Company, provided that the additional escrow
instructions do not change or conflict with the terms
of this Agreement.
d. Incorporation of Escrow Instructions . Buyer and
Seller hereby incorporate the standard provisions of .
the escrow agreement commonly used by Title Company in
the Dublin area. This Agreement shall serve as escrow
instructions, and an executed copy of this Agreement
shall be deposited by Seller with Title Company
following execution hereof. The parties agree to
execute for the benefit of Title Company such
additional escrow instructions as Title Company shall
require, provided that the additional escrow
instructions do not change the terms of this Agreement,
but merely offer protection for Title Company.
Dated: March 1987 "Seller"
AMADOR VALLEY JOINT UNION HIGH
SCHOOL DISTRICT
By
Its
"Buyer"
CITY OF DUBLIN, a Municipal
Corporation
By
Its . Mayor
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I - i
RESOLUTION NO. 97- 86
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING AN AGREEMENT OF PURCHASE AND SALE
OF THE VALLEY HIGH SCHOOL PROPERTY .
WHEREAS, the City is desirous of purchasing
approximately 1. 6 acres of real property known as the Valley High
School property from the Amador Valley Joint Union High School
District; and
WHEREAS, the City has determined that this property
would be a valuable asset in the development of the overall Civic
Center site; and
WHEREAS, the Amador Valley Joint Union High School
District has agreed to sell this property to the City and has
executed an Agreement of Purchase and Sale prepared by the Dublin
City Attorney (which is attached and herein incorporated) .
NOW, THEREFORE, BE IT RESOLVED that the Dublin City
Council approves the Agreement of Purchase and Sale of Valley High
School property and authorizes the Mayor to execute said
agreement.
BE IT FURTHER RESOLVED that the Dublin City Council
authorizes the City Attorney to draft a side letter with respect
to the timing of the deposit required by the agreement into
escrow.
PASSED, APPROVED AND ADOPTED this 22nd day of September,
1986.
AYES: Councilmembers Hegarty, Jeffery, Moffatt,
Vonheeder and Mayor Snyder
NOES : None
ABSENT: None
Mayor
ATTEST:
City�Cl k
AGREEMENT OF PURCHASE AND SALE
THIS AGREEMENT OF PURCHASE AND SALE ("Agreement") is
September'
entered as of the 22nd day of 6etebeF, 1986, by and between
AMADOR VALLEY JOINT UNION HIGH SCHOOL DISTRICT ("Seller") , a
California corporation, and the CITY OF DUBLIN ("Buyer") , a
municipal corporation.
THE PARTIES ENTER THIS AGREEMENT on the basis of the
following facts, understandings and intentions:
A. Seller is the owner of certain real property ("the
Property") located in the City .of Dublin, County of Alameda,
State of California. The Property is improved with buildings
which house Valley High School and is more particularly
described in Exhibit "A", attached hereto.
B. Seller now desires to sell the Property to Buyer, and
Buyer desires to purchase the Property, on all of the terms,
covenants and conditions hereinafter set forth.
NOW, THEREFORE, IN CONSIDERATION of the mutual
covenants and promises of the parties, the parties hereto agree
as follows:
1. Purchase and Sale. Seller shall sell the Property
to Buyer, and Buyer shall purchase the Property from Seller, on
all of the mutual terms, covenants and conditions set forth in
this Agreement.
2. Escrow. Within five (5) days following the date
of this Agreement, Buyer shall establish an escrow (Escrow
No. 88804) for the close of the purchase and sale of the
• e
Property at Northwestern Title Insurance Company ("Title
Company") , 351 St. Mary' s Street, Pleasanton, California.
3. Purchase Price. Buyer shall pay Seller a purchase
price for the Property in the amount of EIGHT HUNDRED FORTY-ONE
THOUSAND SIX HUNDRED SEVENTY-FIVE DOLLARS ($841,675.00) . The
purchase price shall be paid as follows:
(a) FIVE HUNDRED THOUSAND DOLLARS ($500,000 .00)
("the Cash Deposit") shall be deposited into escrow within
thirty (30) days following the date of this Agreement. The Cash
Deposit shall be subject to immediate withdrawal by Buyer.
(b) The balance of the purchase price ("the Cash
Balance") shall be paid in cash at the close of escrow,
provided, however, that Buyer shall receive a credit against
said balance in an amount equal to the Interest Payment as that
term is hereafter described.
4. Interest Payment. Seller shall pay to Buyer
interest on the Cash Deposit of FIVE HUNDRED THOUSAND DOLLARS
( $500 ,000.00) at the rate of seven and one-half percent (7-1/2%)
interest for the period of time from the date of the Cash
Deposit into escrow to the date escrow closed, or the date
Seller removes the buildings from the Property, whichever first
occurs. Payment of said interest ("the Interest Payment") shall
be made by allowing Buyer a credit against the Cash Balance in
an amount equal to the Interest Payment. In the event that the
sale of the Property is not consummated for any reason, Seller
shall, upon written demand by Buyer, immediately pay to Buyer
the sum of FIVE HUNDRED THOUSAND DOLLARS .($500,000.00) , together
-2-
f
with interest thereon at the rate of seven and one-half percent
(7-1/2%') per annum for the period of time that Seller had the
use of the Cash Deposit.
S. Removal of School Buildings. Seller shall have
the use of the buildings on the Property for the 1986-1987
school year, provided however, Seller shall remove said
buildings from the Property by no later than July 15, 1987.
6. Conditions of Title.
(a) Review and Approval of Title Report. Within
five (5) days after receipt, Buyer shall review and approve the
preliminary title report ("the Title Report") for the Property,
to be issued by Title Company. The matters set forth in any
survey Buyer obtains for the Property (at Buyer' s expense) and
the conditions of title to the Property set forth in the Title
Report, other than exceptions for liens of deeds of trust or
other mortgage indebtedness, are hereinafter referred to as the
"Conditions of Title". Buyer shall have ten (10) days in which
to approve the preliminary title report. Escrow shall not close
unless and until Buyer has approved the preliminary title
report.
(b) Delivery of Title. Conclusive evidence of
delivery of title to the Property by Seller to Buyer shall be
the willingness of Title Company to .issue, upon payment of title
Company' s regularly scheduled premium, a standard form owner' s
policy of CLTA title insurance (the "Title Policy") , in the
amount of the Purchase Price, showing title to the Property
vested of record in Buyer, subject only to the Conditions of
Title and the standard printed exceptions of the Title Policy.
-3-
7. Deposits Into Escrow. Prior to the Closing Date,
as defined in Subsection 8 (a) , the parties shall deposit into
escrow the funds and documents described in this Section 7.
(a) Seller. Seller shall deposit a duly executed
and acknowledged Grant Deed conveying the Property to Buyer;
(b) Buyer. Buyer shall deposit the following:
(1) Written approval of the Title Report;
(2) The Cash Payment;
(3) The Cash Balance; and
(4) Additional cash in the amount necessary
to pay Buyer's share of closing costs and
prorations, as hereinafter set forth.
8.' Close of Escrow.
(a) Time. Escrow shall close on a date that is
not later than ten (10) days after the date on which Seller has
removed the buildings from the Property.
(b) Procedure. Title Company shall close escrow
as follows:
(1) Record the Deed and deliver the Deed to
Buyer;
(2) Deliver a certified copy of the recorded
Deed to Seller;
(3) Pay to Seller the Cash Balance reduced
by Seller' s Interest Payment to Buyer and Seller ' s
share of closing costs and prorations, as
hereinafter set forth; and
(4) Deliver the Title Policy to Buyer.
-4-
(c) Special Instruction to Title Company. Buyer
and Seller may deposit separate escrow instructions with Title
Company provided that the additional escrow instructions do not
change or conflict with the terms of this Agreement.
(d) Incorporation of Escrow Instructions. Buyer
and Seller hereby incorporate the standard provisions of the
escrow agreement commonly used by Title Company in the Dublin
area. This Agreement shall serve as escrow instructions, and an
executed copy of this Agreement shall be deposited by Seller
with Title Company following execution hereof. The parties
agree to execute for the benefit of Title Company such
additional escrow instructions as Title Company shall require,
provided that the additional escrow instructions do not change
the terms of this Agreement, but merely offer protection for
Title Company.
9. Successors and Assigns. The terms, covenants and
conditions herein contained shall be binding upon and inure to
the benefit of the successors and assigns of the parties hereto;
provided however, that Buyer shall not, prior to the Close of
Escrow, assign Buyer ' s interest in this Agreement and the
Property without the prior written consent of Seller, which
consent may be withheld in Seller' s sole and absolute
discretion.
10. Survival. The terms, covenants and conditions
herein contained which are required to be operative after
delivery of the Grant Deed in order to be fully effective, shall
be so operative and shall not be deemed to have merged in the
Grant Deed.
-5-
11. Entire Agreement. This Agreement contains all of
the covenants, conditions and agreements between the parties and
shall supersede all prior correspondence, agreements and
understandings, both verbal and written. No addition or
modification of any .term or provision shall be effective unless
set forth in writing and signed by both Seller and Buyer.
12. Attorneys' Fees. In the event of any litigation
regarding the rights and obligations of the parties under this
Agreement, the prevailing party shall be entitled to reasonable
attorneys' fees and court costs.
13. Notices. All notices or other communications
required or permitted hereunder shall be in writing and either
delivered by hand or deposited in the United States mail,
first-class, postage prepaid, and addressed as follows:
To Seller: AMADOR VALLEY JOINT UNION
HIGH SCHOOL DISTRICT ' '
c/o Land Planning Consultants
205 F Main Street
Pleasanton,, CA 94566
To Buyer: ' . Richard C. Ambrose
City Manager
CITY OF DUBLIN
P. 0. Box 2340
Dublin, CA 94568
The foregoing addresses may be changed by written
notice to the other party as herein provided.
14. Exhibit. Exhibit "A" is attached hereto and
incorporated herein by reference thereto.
15. Governing Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of
California.
-6-
16. Captions. All captions and headings in this
Agreement are for the purpose of reference and convenience and
shall not limit or expand the provisions of this Agreement.
17. Time. Time is of the essence for every provision
herein contained in this Agreement.
18. Counterparts. This Agreement may be executed in
counterparts, each of which shall be an original, but all
counterparts shall constitute one instrument.
IN WITNESS WHEREOF, the parties hereto have executed
one or more copies of this Agreement on the dates)* set forth
below, as of the day and year first above written.
'Seller"
AMADOR VALLEY JOINT UNION
HIGH SCHOOL DISTRICT
By l
I t
Date: September 17. 1986
'Buyer"
CITY OF DUBLIN,
a municipal corporation
By
Its BALI
Date: 6
-7-
0880
D E S C R I P T I C r
All that certain real property situated in the City of Dublin:,
County of Alameda, State of California described as follows:
PARCEL 1 :
A PORTIOlt , of Tract "B" of Parcel No. 6 and described in the final
iudgment rendered Jule 24 , 1944 , ir. the United States District
Court for the Northern District of California, Southern Division,
in Case No. 2460-G, entitled "United States of America V. 105 . 19
acres of land" , a certified copy o= which judgment was recorded
April 4 , 1945 , in Book 4681 , Page -134 Official Records of Alameda
County;
BEGINNING at the northwesterly corner of said Tract "B" of Parcel
No . 6 , said northwesterly corner beginning also on the southern.
line of County Road tic. 35 (formerly Road !V, Alameda County,
Route 5 , Section B) being also known as Dublin_ Boulevard; thence
along said southern line South 72° 43 ' 54" East 356 .53 feet;
thence leaving last said line South 17° 16 ' 06" Itiest 436 .30 feet
to the northeasterly line of the land described in the deed from
Volk-McLain Communities, Inc. formerly the Volk-McLain. Co. to
Murrav School District of Alameda County, State cf California, a
Public Corporation recorded October 26 , 1966 in Reel 1864 , Imaae
533, under Recorder' s Series No. A' 123533 in Official Records of
Alameda County; thence along said northeasterly line of last said
parcel of land and the direct extension northwesterly thereof
North 21 ° 59 ' 10 " West 563 . 44 feet to the POINT OF BEGINNING.
EXCEPTING AND RESERVING therefrom a strip cf land 17 .00 feet in
width adjacent to the northeast line of said property for the
widening of Dublin Boulevard.
EXCEPTION THEREFROM that portion deeded to Murray School District ,
of Alameda County by deed recorded Septe.*nber 17 , 1980 Series
80-160913 Official Records of Alameda County.
PARCEL 2 :
COMMENCING at the intersection of the westerly line of Dougherty
Road, as it existed in October 1964 , and the northerly line of
Dublin Boulevard (formerly known as "Old State Highway leading
from Dublin to Livermore") , as it existed in October, 1964; said
westerly line of Dougherty Road being 25 feet from the measured
at right angles to the center lire of Dougherty Road and said
northerly line of Dublin Boulevard being 47 feet from and
measured at right angles to the center line of Dublin Boulevard;
EXHIBIT A
r
85804
' P121
said point of commencement also being the easteriv terminus of
the course desianated as North 730 3C ' 00" West 3839 .8.1 feet in
the deed by C. M. Dougherty to the County of Alameda dated March
23 , 1917, recorded May 3 , 1917, in Book 2565 of Deeds, Page 182,
Alameda County Records (R-17126) ; thence alone said northeriv
line of Dublin Boulevard North 720 43 ' 54" West 2299 . 89 feet;
thence South 17° 16 ' 06" West 89 .00 feet to the true point of
beginning of this description; thence south 210 59 ' 10" East
866 . 67 feet; thence South 671 42 ' 00 " West 374 .23 feet to a point
on the arc of a 3000 .28 foot radius curve, said point also being
on the northeasterly right of way line of the State Freeway Route
680 , Alameda County; thence along said northeasterly right of way
line trort a tangent that bears South 88° 22 ' 51 .33" West and
along said 300C . 25 foot radius curve to the left 370 .95 feet
through an angle of 71 05 ' 02 .33" ; thence tangent to said curve
South 81° 17 ' 49" West 11 . 10 feet; thence North 120 23 ' 14" West
36. 60 feet to the beginning of a tangent 124. 00 foot radius curve
to the right; thence along said curve 90.97 feet through an angle
of 420 02 ' 09" ; thence non-tangent to said curve North 250 57'
36" East 217 . 80 feet; thence North 29° 38 ' 55" East 550 .22 feet
to the beginning of a tangent 562 .06 foot radius curve to' the
left; 'thence along said curve 86 . 64 feet through an angle of 8°
49 ' 55" ; thence non-tangent to said curve North 210 49 ' - 23" East
142 .29 feet to a point on the right of way of Dublin Boulevard as
it not exists; thence along said right of way South. 720 43 ' 54"
East 40 .83 feet to the true point of beginning of this
description.
Commonlv known as: 6900 Dublin Boulevard
Alameda County Account No. 941-1401-23-1
HIJUIT A
FIRST ADDENDUM TO
AGREEMENT OF PURCHASE AND SALE
AMADOR VALLEY JOINT UNION HIGH SCHOOL DISTRICT
("Seller") , and the CITY OF DUBLIN ( "Buyer") , hereby amend the
V EPTE N�Q
Agreement for Purchase and Sale dated the 22s,_ day of .^��er,
1986, as follows:
3. Purchase Price. Buyer shall pay Seller a purchase
price for the Property in the amount of EIGHT HUNDRED FORTY-ONE
THOUSAND SIX HUNDRED SEVENTY-FIVE DOLLARS ($841,675.00 ). The
purchase price shall be paid as follows :
a. FIVE HUNDRED THOUSAND DOLLARS ($500,000.00 ) ("the
Cash Deposit") shall be deposited into escrow within ten (10 )
days following the receipt by Buyer of a written request for said
funds. The Cash Deposit shall be subject to immediate withdrawal
by Buyer.
b. The balance of the purchase price ( "the Cash
Balance") shall be paid in cash at the close of escrow, provided,
however, that Buyer shall receive a credit against said balance
in an amount equal to the Interest Payment as that term is
hereafter described.
Dated: October 1986 "Seller"
AMADOR VALLEY JOINT UNION
HIGH HOOL DISTRIC
By
Its Assistant Superintenden
Buyer"
Business Services
"
CITY OF DUBL-
a Municipal rporation
By
C '12Y OF DUBLIN
BUDGET CHANGE FORM
FROM TO
IDAPPROPRIATION ACCOUNT AT10UNT ACCOUNT AMOUNT
0 TRANSFER
0 AIMENDMENT 3-24-418 $341, 675 3-24-751 1$341, 675
JUSTIFICATION Appropriates the balance of funds to purchase 1 . 6 acres
from Amador Valley Joint Union High School District (Valley
High School ) . Original escrow was anticipated to close
in Fiscal Year 1987-88. However, closing escrow prior to
June 30, 1987 results in transaction as an 86-87 expense
and necessitates the budget change. As approved by the
City Council March 9, 1987.
ITEMITIZED COST
Capital Project Fund
Civic Center 3-24 $341, 675
• a
TOTAL $341, 675
CITY
MANAGER APPROVAL DATE
CITY.
DATE
COUNCIL APPROVAL