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---- ---- ." ,. o o DES:yc:11/20/80 o RIGJNAL NOV 24 1980 ---------- RES 0 L UTI 0 N N o. 8 7 4 1 RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF AGREEMENT FOR COMPENSATION FROM PARKWOOD 101 ASSOCIATES FOR ITS ACCESS TO AND USE OF GID NO. 1-64 IMPROVE~lliNTS i! WHEREAS, Parkwood 101 Associates, a Texas general partnership ("Parkwood"), has petitioned this Council, as governing body of Redwood City General Improvement District No. 1-64 (the "District") for annexation of certain properties owned by Parkwood to the District; and WHEREAS, upon annexation, Parkwood, as owner of the territory to be annexed, will derive substantial benefit from public improvements heretofore constructed within District's boundaries; and WHEREAS, in order that District be compensated for the benefit conferred upon Parkwood and Parkwood's lands for access to and use of the District's heretofore constructed improvements, the public interest and necessity require that Parkwood enter into an agreement with this Council providing for such compensation; and WHEREAS, an agreement has been presented to and reviewed by this Council providing, among other matters, for such compensation; NOW, THEREFORE; BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, ACTING FOR AND ON BEHALF OF REDWOOD CITY GENERAL IMPROVEMENT DISTRICT NO. 1-64, AS FOLLOWS: 1. That certain agreement entitled "Agreement (Annexation _ GID No. 1-64)" (form dated 11/14/80), a copy of which agreement is on file in the office of the City Clerk, to which copy reference is hereby made for the full particulars thereof, is hereby approved and the City Manager, as District Manager, is hereby authorized and directed to execute said agreement for and on behalf of District.