HomeMy WebLinkAboutORD 78-107ORDINANCE NO.
ENTITLED AN ORDINANCE AUTHORIZING THE CITY MANAGER
TO LEASE AND PURCHASE PROPERTY DESCRIBED HEREIN
FROM THE PORT OF BEAUMONT NAVIGATION DISTRICT;
APPROPRIATING THE SUM OF SIX. HUNDRED THIRTY-EIGHT
THOUSAND EIGHT HUNDRED ($638,800) DOLLARS FOR THE
PURCHASE OF SAID PROPERTY; AUTHORIZING CREATION
OF .A SPECIAL FUND; AUTHORIZING RETENTION OF COUNSEL;
AND PROVIDING FOR SEVERABILITY;
BE IT ORDAINED BY THE CITY OF BEAUMONT:
Section 1.
That the City Manager be, and he is hereby, authorized to enter
into and execute an agreement with the Port of Beaumont Navigation Dis-
trict ("Port") for the purchase of a 4.154 acre tract of land'and a 1.125
acre tract of land, both out of the Noah Tevis Survey, Abstract 52,
Beaumont, Jefferson County, Texas. The purchase price shall be Six Hun-
dred Thirty -Eight Thousand Eight Hundred ($638,800) Dollars. The property
described shall be leased by the City of Beaumont from the Port for a terns
of twenty-two (22) years at a monthly rental of Four Thousand ($4,000)
Dollars. Upon the expiration of said tern, the property shall be conveyed
to the City and the purchase price shall be paid.
Section 2.
That the sum of Six Hundred 'Thirty Eight Thousand Eight Hun-
dred ($638,800) Dollars is appropriated from the Municipal Complex Fund
for payment of the purchase price above -stated. Said sum shall be placed
in a special fund created therefor in accordance with Section 3 of this
ordinance, and shall be paid to the Port upon expiration of the twenty-two
year term.
Section 3.
That a special fund shall be established and maintained at the
City's depository to secure payment of the purchase price above-described.
The monies in said fund may be invested in any lawful manner. The earnings
of said fund shall be used to pay the rentals described above, and any
earnings in said fund in excess of the rentals provided herein may be paid
to the Port as additional rentals hereunder or may accumulate, -be reinvested
and be paid to the Port in addition to the stated purchase price:
r7 P
Section 4.
That the City Attorney is hereby authorized to retain the firm
of Orgain, Bell and Tucker to provide legal services in connection with
the lease and purchase of the above-described property. The City Manager
is authorized to make payment for said services at the rate of Seventy -
Five ($75.00) Dollars per hour and for other expenses of the transaction
from the Municipal Complex Fund.
That if any section, subsection, sentence, clause or phrase
of this ordinance, or the application of same to a particular set of
persons or circumstances, should for any reason be held to be invalid,
such invalidity shall in no wise affect the remaining portions of this
ordinance, and to such end the various portions and provisions of this
ordinance are declared to be severable.
PASSED BY THE CITY (UNCIL of the City of Beaumont this the
day of 1978.
- Mayor -
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