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<br />Y <br />Resolution No. 2008-78 <br />SECTION 2: That the Director of Planning be and she is hereby authorized to proceed <br />with negotiations for the sale of said real property described in Section 1 above. <br />SECTION 3: That, upon completion of negotiations with a willing, ready and able <br />purchaser, the Mayor is authorized to execute a contract, and such other documents as are <br />required, to sell the said real property to such purchaser for a price that is no less than three- <br />quarters of the appraised value of the property. The contract shall be in a form and substance <br />that is not substantially adverse to the City and which is approved by the Director of Law. The <br />character of any such contract as not being substantially adverse to the City shall be evidenced <br />conclusively by the execution of the contract by the Mayor and the approval of the contract by <br />the Director of Law. <br />SECTION 4: That the net proceeds from the sale of said real property shall be paid into <br />the Building and Land Acquisition and Improvement Fund. <br />SECTION 5: That this Resolution shall take effect and be in force from and after the <br />earliest date provided for by law. <br />? I <br />PASSED: G-x..-(. First Reading: D?? <br />Second Reading.• (? 3 d? <br />g.- <br />Third Readin <br />Committee: ? <br />ATTEST: <br />? XA-uu <br />B BARA L. SEMAN EVIN M. KENN DY <br />Clerk of Council -- President of Council <br />APPROVED: <br />MAYOR THOMAS E. O'G Y <br />APPROVED AS TO FORM.• <br />/s/James M. Dubelko <br />JAMES M. D UBELKO <br />Director of law <br />2