HomeMy WebLinkAboutORD 70-77ORDINANCE N0. 761 - 7 7
ENTITLED AN ORDINANCE AUTHORIZING THE CITY
MANAGER OF THE CITY OF BEAUMONT TO EXECUTE
A LEASE AGREEMENT LEASING CERTAIN CITY
PROPERTY TO THE BOARD OF DIRECTORS OF THE
Y.M.C.A. FOR A TERM OF FIFTY (50) YEARS
WITH AN OPTION TO PURCHASE IN CONSIDERATION
OF THE PAYMENT. OF AN3\TUAL RENTALS IN THE SUM
OF ONE ($1.00)DOLLAR AND THE USE OF THE
PROPERTY BY THE Y.M.C.A TO PROVIDE NEEDED
RECREATIONAL FACILITIES FOR THE CITIZENS OF
BEAUMONT.
BE IT ORDAINED BY THE CITY OF BEAUMONT:
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That the City Manager be, and he is hereby, authorized to execute
a lease agreement leasing to the Board of Directors of the Y.M.C.A.,
an independent foundation, the following described property, to -wit:
Being a portion of the North one-half (N.2)
of block Nineteen in the M.C. Cartwright
Subdivision in the J. W. Bullock League,
Beaumont, Jefferson County, Texas, said
tract containing four and sixty-five one
-hundredths (4.65) acres more or less.
for a term of fifty (50) years, including an option to purchase
said tract at its fair market value as of January 1, 1971, said
option to be exercised at any time after the Y.M.C.A. completes
construction of its facilities until January 1, 1956, in considera-
tion of the Y.M.C.A.'s use of the premises to provide needed rec-
reational facilities for the citizens of Beaumont and the payment
of annual rentals in the sum of One ($1.00) Dollar, and the City
Clerk is hereby authorized to attest said instrument and to affix
the seal of the City of Beaumont thereto.
PASSED this ;'�, day of 2�, 1970, A.D.
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