HomeMy WebLinkAboutCity Council Resolution 698 RESOLUTION NO. 698
RESOLUTION AUTHORIZING
ADDITIONAL EXPENDITURE OF FUNDS
WHEREAS, reference is hereby made to that certain agreement, dated April 3,
1974~ by and between the CITY OF SARATOGA, a Municipal Corporation, hereinafter
called "CITY", and SAMUEL L. TYLER, RUTH M. TYLER, GEORGE S. KOCHER and RAISA R. KOCHER,
hereinafter collectively referred to as TYLER/KOCHER~ and specifically to paragraph 2
thereof relating to the assessment split between the parcel being purchased by CITY
and the parcel being retained by KOCHER/TYLER; and
WHEREAS, since entering into said agreement it has come to CITY's attention that
the total principal balance due under such assessment, after payment of all
installments due through the Fiscal Year 1973-74, will be some $902 more than the
$45,632 therein set forth; and
WHEREAS, that in order that CITY honor its commitment that after such split
Parcel 13-B will not be encumbered by more than $14,978.02 of principal balance due,
plus interest, it may be necessary for CITY ~ assume and/or pay, or both, additional
principal and interest sums up to an additional $1,700 not heretofore contemplated;
NOW, THEREFORE, BE IT RESOLVED that the expenditure of not to exceed an
additional $1,700 in order to consummate said transaction and for the above purposes,
is hereby authorized.
The above and foregoing resolution was regularly introduced and thereafter
passed and adopted by the Saratoga City Council on the llth day of June ............ ,
1974, by the following vote:
NOES: NOne
ABSENT: NoDe
T T E : C: