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<br />DES:djg-c 1/4/85 <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />9768 <br /> <br />ORIGINAL <br />JAN 7 198~ <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF AGREEMENT <br />FOR FINANCING ACQUISITION OF CERTAIN REAL PROPERTY <br /> <br />(GID 1-64 WATER RESERVOIR) <br /> <br />WHEREAS, the public interest and necessity require the <br /> <br />acquisition and construction of water tank reservoir facilities <br /> <br />to serve a portion of Redwood City General Improvement District <br /> <br />No. 1-64 ("GID 1-64"); and <br /> <br />WHEREAS, Redwood Shores, Inc., a California corporation, <br /> <br />owns the majority of the area within GID 1-64 to be served and <br /> <br />benefited by the aforesaid water tank reservoir; and <br /> <br />WHEREAS, this City does not have funds available for the <br /> <br />acquisition of a site for the construction of said water tank <br /> <br />reservoir and said Corporation is willing to provide all funding <br /> <br />for such acquisition; and <br /> <br />WHEREAS, an agreement has been presented to this Council <br /> <br />providing for the financing of said acquisition; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, A <br /> <br />MUNICIPAL CORPORATION OF THE STATE OF CALIFORNIA, AS FOLLOWS: <br /> <br />That certain agreement entitled "Agreement For Financing <br /> <br />Acquisition of Water Tank Reservoir Site (GID 1-64)" (form dated <br /> <br />1/4/85), providing for the financing by Redwood Shores, Inc., of <br /> <br />the acquisition of that certain real property described in said <br /> <br />agreement to be used by the City of Redwood City as a water tank <br /> <br />reservoir site, a copy of which agreement is on file in the <br /> <br />9768 <br />