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HomeMy WebLinkAboutResolutions - No. 2961RESOLUTION NO. 2961 RESOLUTION ?UTHEORIZING EXCF.ANGE OF PROPERTIES LYING WITHIN PARKING DISTRICT NO. 1, LODI Whereas, pursuant to Resolution 1% 2951 of the City of Lodi, a. public hearing was held to determine the advisability of an exchange of the properties hereinafter described lying within Parking District NV 1, Lodi; and *MFE.9S, an Affidavit of Publication was filed by the City Clerk showing due publication of the notice of said hearing on Wednesday, July 6, 1966, at 8:00 o'clock p.m.; and WHEREAS, the said City Council at the time and place afore- said did hold a public hearing and did thereafter duly and legally continue said public hearing to the City Council meetin. to be held on Wednesday, July 20, 1966, at the hour of 8:00 o clock p.m. at the regular meeting place of said Council, Council Cham- bers, City !-fall, Lodi, California; and W=AS, the City Council, being fully advised in the premises, has determined that the exchange of the properties hereinafter described will substantially satisfy the needs, pub - 1 i c use and requirements of Lodi Parking District No. 1 and good ca�ise appearing therefor; IT IS p=EFyDv RESOLVED by the City Council of the City of Lodi as follows: The property to be acquired by the City in exchange for the property now owned by the City shall become a part of the off-street parking enterprise identified in Council Resolution No. 2099, A Resolution Providing for the Issuance of Bonds, Providin�cven3nts for the Protection of the Eonds and for the Pledge of Parking Revenues and Levy of krLnual Ad Valorem Assess- nents to Pay the Principal and Interest Thereof, Parking District No. 1, adopted by the City Council of this City on February 19, 1958, =nd shall be improved, operated, maintained anct managed by the Cit,,r as part of said enterprise in the sane manner as all other lots acquired and improved in the proceedings conducted pursuant to Resolution of Intention No. 194+, adopted July 18, 1956. `feat this Comneil does hereby determine that the public interest and necessity and the needs of Parking District No. 1 of the City of Lodi no longer require that certain property here- innfter described being used as a public parking place, said property now owned by the City being situate within the City of Lodi, County of San Joaquin, State of California, and more particularly described as follows: Lot 7, Block 9, City of Lodi, according to the Official Map or Plat thereof, filed for record August 25, 1869, in Volume 2 of ?Saps and Plats, page 12, San Joaquin County Records. Subject to an easement for public utilities as presently installed in the northeast portion of said Lot 7'. 00 and that said Citv of Lodi does hereby authorize the Mayor and City Clerk of the -City of Lodi to execute the Deed of the City of Lodi to the Bank of America, N.T. & S.A., subject to the com- pliance with each and every of the following conditions: (1) That the City of Lodi receive a Deed conveying title to ttie City of Lodi of that certain real pro erty situate in the City of Lodi, County of San Joaquin, State of California, and more particularly -described as follows: - Lot 8, Slock 9, City of Lodi, according to the Official Xap or Plat thereof, filed for record August 25, 1869, in Volume 2 of daps and Plats, page 12, San Joaquin County Records. and be furnished with a policy of Title Insurance insuring that title to said property is vested in the City fres of liens and encumbrances with all current taxes a lien to be paid by said Bank of Lmerica, N.T. & S.A. (2) That at the time of the execution and delivery of the aforesaid deed, the said Bank of America, N.T. & S.A. has thereto- fore cleared said Lot 8 in Block 9 of all buildings and/or other improvements and has caused to be constructed on said real property an off-street public parking lot in accordance with the designs and standards established and fixed by the Director of Public Wor'rs of the City of Lodi. Said construction and design standards shall be in substantial conformity with the otaer parking lots now In existence in the City of Lodi Parking District No. 1. Said works of improvement shail also include the removal of the parking meters presently established on said Lot 7 in Bloch 9 and the re- installation of said neters or neer meters on Lot ? in Block 9. (3) A_1 costs and expenses incurred in connecticn with the foregoing paragraphs (1) and (2) shall be borne and paid for by said Bank of America, N.T. & S.A. (4) The Deed From the City of Lodi to Banff: of America, N.T. & S.A. shail contain a restriction as a covanant running with the land whereby said real property shall be used by the Eank of America N. - Z. & S.A., its successors and assigns, as a parking lot only for a period of thirty years and that no buildings or structures shall be constructed thereon; and further, in the event of the breach of this restriction, said covenant shall contain a forfeiture clause whereby the title to said real property will revert to the City Of Lodi. 153 The City shall receive from the Bank of America, N.T. & 5. its letter of agreement agreeing to commenc 1 construction within five years of a new downtown branch of the Bank of America at its present location on that pbrtion of Lot 5 in Block 9 of said _tinp of the City of Lodi owned by it or in which it holds a leasehold interest. It is the intention of this requirement that said Bank of America, N.T. & S.A. show its good faith and intention to proceed uith the purposes and plans which it has expressed to said City Council to reconstruct said bransh of its banking system at the abovs location and to use the property being acquired from the City of Lodi for parking places primarily to serve only the customers of said Bank. 2. (6) The City shall receive a letter of agreement from the Sank of America, N.T. & S.A. expressing its agreesent to exercise reasonable control in the policing of said Lot 7 in 31odk' 9 so as to prevent as much as possible any all day public parking on said real property which would be to the detriment of the public parking facilities within said Parking District No. 1 of tie City of Lodi. Dated: July 20, 1965 I hereby certify that the foregoing resolution was duly and regularly adopted and passed by the City Council of the Cit of Lodi, California, at a re ular meeting thereof held on the 20th day of July, 1966, by the following vote: AYES, and in favor thereof, Councilnen: BROWN, CT)LRERTSON, 'siTJ!`a`NELL, KTRSTEN and M;LT0N NOES, Councilnen: :;ons ABSENT, Councilmen: None City Clerk of t e City of L:o i{ r � s 13 3.