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RESOLUTION NO. 1320
A RESOLUTION APPROVING AND AUTHORIZING EXECUTION
OF AGREEMENT BETWEEN THE CITY OF THE TOWN OF LOS
ALTOS HILLS AND THE PALO ALTO UNIFIED SCHOOL
DISTRICT, AUTHORIZING EXECUTION AND DELIVERY OF
NOTE AND DEED OF TRUST, AND ACCEPTING GRANT DEED
AND AUTHORIZING RECORDATION THEREOF
RESOLVED, by the City Council of the City of the Town of Los
Altos Hills, County of Santa Clara, State of California, that
WHEREAS, the City Council desires to purchase and acquire
from the Palo Alto Unified School District a parcel of property
heretofore declared by the School District to be surplus, consisting
of fifty-nine (59) acres , more or less , commonly known as "Page
Mill/Alexis Site" in order to devote a portion thereof to open
space and recreational uses for which the City Council determines
it to be well suited, and to fund the acquisition of the portion
of the property to be dedicated to open space and recreational
uses by the controlled development and sale of the remainder of
the property for single family residential use either by the
City or a non-profit corporation formed for this purpose; and
WHEREAS , the City Council has read and considered that certain
Agreement between the City of the Town of Los Altos Hills and the
Palo Alto Unified School District of Santa Clara County, State of
California, concerning the sale of the above-described real property
to said City upon the terms and conditions set forth therein; and
WHEREAS, the Agreement, among other things , requires that the
said City execute and deliver its Note for the unpaid balance of
the purchase price and a Purchase Money Deed of Trust of the
property as security therefor, said Note to be payable solely from
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the revenues contained in a special fund heretofore created and
commonly known as the "Revenue Fund" ; and
WHEREAS, title to the above-described real property is to be
conveyed to the City by a Grant Deed executed and delivered to it
and which the City is required to accept,
NOW, THEREFORE, IT IS FOUND, ORDERED AND DETERMINED as follows :
1. Public interest and convenience require the entering into
of an Agreement and the City of the Town of Los Altos Hills hereby
approves the above-described Agreement.
2 . The City of the Town of Los Altos Hills shall enter into
and the Mayor and City Clerk thereof be and they and each of them
hereby is authorized and directed on behalf of said City, respectively,
to execute and attest an Agreement between the City of the Town of
Los Altos Hills and the Palo Alto Unified School District of Santa
Clara County.
3 . The City of the Town of Los Altos Hills shall enter into
and the Mayor and City Clerk thereof be and they and each of them
hereby is authorized and directed on behalf of said City, respectively,
to execute and attest a Note for the unpaid balance of the purchase
price and to be payable solely from the revenues contained in the
"Revenue Fund" described above, and a Purchase Money Deed of Trust as
security therefor, and to deliver the Note and Purchase Money Deed of
Trust in accordance with the terms and provisions of the Agreement.
4. The Grant Deed executed on behalf of the Palo Alto Unified
School District of Santa Clara County, State of California, a political
subdivision of the State of California, in which Grant Deed the City
of the Town of Los Altos Hills , a municipal corporation, is named as
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Grantee, be and it is hereby accepted, and the City Clerk of the
City of the Town of Los Altos Hills be and he hereby is directed
and ordered to cause said Grant Deed to be recorded in the Office
of the Recorder of the County of Santa Clara, State of California.
REGULARLY passed and adopted this 3rd day of December
1980 .
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Ma or
ATTEST :
A10, /
City Clerk
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