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6.C. - Page 17 of 29 <br />li i i I ........... <br />10-.9. Formal City Council Approval. <br />At a public meeting, the City Council should formally authorize the <br />purchase or lease of the real property and approve the applicable <br />purchase and sale or lease documents. The City Council should also <br />authorize the City Manager to execute any necessary documents to effect <br />the acquisition. Finally, the City Council should appropriate the funds <br />required for the purchase or lease. <br />110. Written Agreement. <br />A formal written agreement, approved as to form by the City Attorney, <br />delineating the terms and conditions of the purchase or lease should be <br />prepared and signed by all parties. For purchases, the agreement should <br />then be provided to a title company together with accompanying escrow <br />instructions, if not already included in the agreement. <br />111. Opening of Escrow. <br />For purchases, once the written agreement has been signed, escrow can <br />be opened. Ideally there should be a purchase order for the payment of <br />the purchase price and the required closing costs. However, in some <br />cases this may not be necessary or possible (for example, if time is short), <br />and in such cases a warrant will be issued for those expenses. <br />112. Title Insurance. <br />The City should obtain title insurance for most property acquisitions; <br />however, this policy may be waived when the property is acquired for a <br />nominal sum. <br />14.13. Certificate of Acceptance. <br />The City Clerk should sign the certificate of acceptance on behalf of the <br />City as required by the Government Code and as authorized by City <br />Council resolution or motion. The City Clerk's signature must be <br />acknowledged by a notary. <br />ATTY/POLICIES/PROPERTY ACQUISITION AND DISPOSITION PROCEDURES FINAL <br />REV: 09-16-13 PT <br />Page 11 of 22 <br />41 <br />