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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested January 10,2011 <br />Requested By: City Attorney's Office <br /> <br />Appropriation <br /> <br />Source of Funds: <br /> <br />Department: <br /> <br />City Attorney's Office <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />x <br /> <br />Amount Budgeted: <br /> <br />Exhibits: <br /> <br />Amount Requested: <br /> <br />Exhibits: <br /> <br />Proposed Ordinance <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />SUMMARY AND RECOMMENDATION <br /> <br />In 2010 the City Council approved the sale of surplus property located adjacent to Sens Road, to ChemCoast, Inc., <br />which was the high bidder. ChemCoast, Inc. subsequently requested the issuance of a title policy in connection with <br />its purchase, to be paid for by ChemCoast, Inc. (along with all other closing costs). American Title Co., which is <br />closing the sale, has asked that the city to adopt a form of "corporate resolution in recordable form to support the <br />proposed transaction", as noted in Schedule C of the title commitment. <br /> <br />The City Attorney's office has drafted a proposed ordinance authorizing the conveyance, to meet the requirements <br />of the title company. <br /> <br /> <br />rove ordinance authorizing sale of surplus property to high bidder ChemCoast, Inc. <br /> <br />II~ ), <br /> <br />Date <br />