HomeMy WebLinkAboutRES 85-057 S7
R E S O L U T I O N
WHEREAS, an agreement has been negotiated for the
purchase of property needed for the downtown redevelopment plan;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the purchase of the 0 .53 acre tract of land, formerly the site
of the Szafir Building, as shown on Exhibit "A" attached hereto be,
and the same is hereby , approved at a sum of $340,000 .
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the day of , 1985.
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11 120 I
T i I LOTS 61,62, 8i EAST 34 OF LOT 63
0 1 BLOCK 13
TYRRELL t{IST L1ERt1RY I i ORIGINAL TOWN OF BEAUMONT
240 FORSYTHE STREET
BEAUMONT JEFFERSON CO. TEXAS
NOVEMBER 29,1984
FEAKL
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Exhibit "A
April 17, 1985 $342,891.00
Promissary Note
On February 21, 1985, the General Improvements Fund of the
City of Beaumont borrowed $342.891.00 from the Water Utili-
ties Fund of the City of Beaumont for the purchase of the
property located on lots 61 , 62, and the east 34 feet of
lot 63, block 13 in the original town of Beaumont for muni-
cipal needs. These funds will be repaid out of the General
Fund with a one time payment beginning with our fiscal year
October 1, 1985. The payment will be made with a 9% interest
rate assumed. The total payment with interest compounded
annually will be $361 ,576.21
Karl Nollenberger
Witnessed: