R75-06 02-24-75'.4
RESOLUTION NO. 75-6
A RESOLUTION OF THE CITY OF PEARLAND, TEXAS,
AUTHORIZING THE SALE OF ITS REVERSIONARY INTEREST
IN AND TO THE SURFACE ESTATE. ONLY OF THE WEST
3.362 ACRES OUT OF LOT 110 AND LOT F, ABSTRACT
147, BRAZORIA COUNTY, TEXAS; AND CONTAINING OTHER
PROVISIONS IN RELATION THERETO.
WHEREAS, The City of Pearland, Texas is a Texas Home Rule
Municipal Corporation situated within Brazoria and Harris Counties
Texas; and
WHEREAS, the City of Pearland, Texas, was given and granted
an undivided 100/160 reversionary interest in and to the Surface
Estate only of the West 3.362 acres out of Lot 110 and Lot F of
the Subdivision of Alexander, Crain, Harris and Brooks Section 1,
Abstract 147, Brazoria County, Texas, all in accordance with a
Deed of Gift executed by Atlantic Richfield Company to Pearland
Little League Baseball Association, Inc., and the City of Pearland,
Texas, dated December 19, 1974, recorded in Volume 1233, Page 371
et seq. of the Deed Records of Brazoria County, Texas; and
WHEREAS, the Deed of Gift aforementioned was given and grante.
upon the condition that the interests therein conveyed shall be
sold by the Grantees within a period of six (6) months from date
hereof for a consideration of not less than $160,000.00; and fur-
ther that the proceeds from such sale are then to be devoted to
recreational park purposes within such time and in such manner as
Grantees may in their discretion determine; and
WHEREAS, the City Council has heretofore declared that it
would be to the best interest of the public and in keeping with
the restrictive conditions of the aforementioned Deed of Gift, that
the City of Pearland sell and convey all of its right and title in
and to its 100/160 reversionary interests to the Pearland Lions
Club for the total cash consideration of $100,000.00; and
WHEREAS, the City Council has heretofore determined and here-
by declares, that the proceeds from the sale of the City's rever-
sionary rights will be devoted exclusively for the development of
recreational park facilities within the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PEARLAND, TEXAS, that:
I
That the facts and recitations contained in the preamble of
this resolution are hereby found and declared to be true and cor-
rect.
II
That the Mayor and City Secretary, are hereby authorized and
directed to execute and attest, respectively, a document of convey-
ance between the City of Pearland, Texas, and The Pearland Lions
Club of Pearland, Brazoria County, Texas, whereby the City of
Pearland shall sell, grant and convey to the Pearland Lions Club,
all of the City's undivided 100/160 reversionary interest in and
to the surface Estate of 3.362 Acres of Land, out of Lot 110 and
Lot F of the Subdivision of Alexander, Crain, Harris and Brooks
Section 1, Abstract 147, Brazoria County, Texas, for the total net
sales consideration of One Hundred Thousand and No/100
($100,000.00) Dollars. The Mayor and City Secretary are further
hereby authorized, empowered, and directed to execute any and all
other instruments necessary to carry in effect the sale as herein
provided.
III
That the total cash proceeds received from the above sale
shall be designated as Public Park Funds, and said funds will be
devoted exclusively for the development of recreational park faci-
lities within the Corporate jursidiction of the City of Pearland,
Texas.
IV
That this resolution shall take effect from and after its
passage.
PASSED and APPROVED this ,?/ day of February, 1975.
ATTEST:
ity Secretar,
Mayor
Councilman