HomeMy WebLinkAboutPR 19068: PURCHASE A 2.543 ACRE TRACT OR PARCEL OF LAND SITUATED IN THE B.B.B. & C.R.R. SURVEY P. R. No. 19068
11/03/15 gt
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY MANAGER AND CITY
ATTORNEY TO PURCHASE A 2 . 543 ACRE TRACT OR PARCEL OF
LAND SITUATED IN THE B.B.B. & C.R.R. SURVEY, ABSTRACT
93, LOCATED AT THE INTERSECTION OF STATE HIGHWAY 82
AND TERMINAL ROAD FOR THE CONSTRUCTION OF AN ELEVATED
STORAGE TANK, AND EXECUTE THE CLOSING DOCUMENTS
WHEREAS, per Resolution No. 15-116, the City Council
authorized the City Manager and City Attorney to negotiate a
contract for the purchase of a 2 . 543 acre tract or parcel of
land situated in the B .B.B. & C.R.R. Survey, Abstract 93 ,
located at the intersection of State Highway 82 and Terminal
Road for the construction of an elevated storage and pump
station; and
WHEREAS, the City secured an appraisal as to the fair
market value of the property; and
WHEREAS, Motiva Enterprises, LLC, also secured an appraisal
as to the fair market value of the property; and
WHEREAS, on August 21, 2015, the City entered into a
Purchase and Sale Agreement and issued a check to First American
Title Company to be placed in escrow in the amount of $32 , 000 ;
and
WHEREAS, the City Manager and City Attorney along with
Motiva Enterprises, LLC, have remedied all title defects and are
now ready to finalize the sale of the property.
s.pr19068
NOW, THEREFORE IT BE RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PORT ARTHUR:
Section 1. That the facts and opinions in the preamble
are true and correct .
Section 2 . That the City Manager and the City Attorney
are herein authorized to execute the closing documents as to
purchase the property described as a 2 . 543 acre tract or parcel
of land situated in the B .B .B. & C.R.R. Survey, Abstract 93 ,
located at the intersection of State Highway 82 and Terminal
Road for the construction of an elevated storage and pump
station.
Section 3 . That the Estimated Settlement Statement is
attached hereto as Exhibit "A" .
Section 4 . That a copy of the caption of this
Resolution be spread upon the Minutes of the City Council .
READ, ADOPTED, AND APPROVED on this, the day
of , A.D. 2015, at a Meeting of the City Council of
the City of Port Arthur, Texas, by the following
votes : AYES :
Mayor:
Councilmembers :
NOES : .
s.pr19068
MAYOR
ATTEST:
City Secretary
AP OVED '' S TO FORM:
d ,/ rir
City Attorney
APPROVED FOR ADMINISTRATION:
City Manager
APPROVED AS TO AVAILABILITY OF FUNDS:
Jerry Da e, C
Interim Finance Director
s.pr19068
11
A m E k, First American Title Company LLC
National Commercial Services
1790 Hughes Landing Blvd. Suite 110•The Woodlands,TX 77380
Office Phone:(832)246-5342 Office Fax:(888)581-0730
Estimated Settlement Statement
Property: Port Arthur, TX File No: NCS-698984-HOU2
Officer: Jan Ruiz/jer
Estimated Settlement Date: 11/09/2015
Disbursement Date:
Print Date: 11/03/2015, 3:16 PM
Buyer: City of Port Arthur
Address:
Seller: Motive Enterprises LLC
Address: Port Arthur, TX
Buyer Charge Buyer Credit Charge Description Seller Charge Seller Credit
Consideration:
165,000.00 Total Consideration 165,000.00
Deposits in Escrow:
32,000.00 Receipt No. 1282810493 on 08/26/2015 by City of Port
Arthur
Prorations:
55.10 City/Town Tax 11/09/15 to 12/31/15 @$379.47/yr 55.10
Title/Escrow Charges to:
Tax Certificate to First American Title Company LLC 78.76
National Commercial Services
400.00 Closing-Escrow Fee to First American Title Company 400.00
LLC National Commercial Services
12.00 Overnight Delivery Service to First American Title 12.00
Company LLC National Commercial Services
T-1/T-1R OTP Single(R-1)-1000 to First American Title 1,235.00
Company LLC National Commercial Services
150.00 Estimated Recording Fees to First American Title
Company LLC National Commercial Services
Disbursements Paid:
2015 Taxes to Jefferson County Tax Assessor-Collector 7,992.06
133,617.10 Cash(X From)( To) Buyer
Cash(X To)( From)Seller 155,337.28
165,617.10 165,617.10 Totals 165,055.10 165,055.10
Notice —This Estimated Settlement Statement is subject to changes, corrections or additions at
the time of final computation of Escrow Settlement Statement.