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411 <br /> • <br /> RESOLUTION NO. 1511 <br /> A RESOLUTION. APPROVING A DISCOUNT AND ACCEPTING TENDER <br /> OF CASH PAYMENT FOR THE ADJUSTED BALANCE OF THE PURCHASE <br /> PRICE OF LOT 9, TRACT NO. 7187, MATADERO CREEK SUBDIVISION, <br /> AND AUTHORIZING EXECUTION AND DELIVERY OF A RECONVEYANCE THEREOF <br /> RESOLVED, by the City Council of the City of the Town of Los Altos <br /> Hills , County of Santa Clara, State of California, that <br /> WHEREAS , the City of the Town of Los Altos Hills (herein called <br /> the "Town") is the owner of certain real property described as Matadero <br /> Creek Subdivision, - namely: <br /> TRACT NO. 7187, being a portion of Lots 1 and 2 of that <br /> part of the Rancho Purissima Concepcion partitioned for <br /> Juana Briones, W. Matthews , R. F. Budges and T. B. Bishop, <br /> recorded in Book 'A' of Maps, at Page 21, Santa Clara <br /> County Records, <br /> and consisting of Lots 1 to. 20, inclusive (herein called the "Property") ; <br /> and <br /> WHEREAS , Town purchased and subdivided the Property in order to <br /> devote a portion thereof to open space and recreational uses for which <br /> the City Council heretofore determined it to be well suited by reason <br /> of its location and natural setting, and to fund the acquisition of <br /> the portion of the Property to be dedicated to open space and recrea- <br /> tional uses by the controlled development and sale of the lots within <br /> Tract. No. 7187 for single family residential use; and <br /> WHEREAS, the Town proceeded with the sale of lots within the Sub- <br /> division in ordertoraise sufficient funds with which to pay the . un <br /> paid balance of the purchase price of the Property, together with <br /> accrued interest, to the Palo Alto Unified School District on or before <br /> December 31, 1982, which is the due date;and <br />