HomeMy WebLinkAboutResolution 1887'' A Resolution
u~~
AUTHORIZING THE SALE OF A 21.594-
- ACRE TRACT OF LAND NEAR DALLAS/FORT
WORTH INTERNATIONAL AIRPORT
~~ WHEREAS, the City of Dallas and City of Fort Worth hold title to
a tract of land containing approximately 21.594 acres
near Dallas-Fort Worth International Airport and located
in the B.B.B.&C.R.R. Survey, Abstract No. 214, Dallas
County, Texas, and within the city limits of Irving,
~'~ Texas, which was declared surplus to the City of Dallas'
needs in Resolution 924247, approved on December 9, 1992,
and to the City of Fort Worth's needs in Resolution 1873,
approved on December 3, 1992; and
WHEREAS, the Cities have complied with the provisions of §272.001
of the Texas Local Government Code respecting the public
advertisement for bids in connection with the sale of
this property; and
WHEREAS, the Cities received on January 8, 1993, a bid in the
amount of $1,500,000.00 from Abbott Diagnostic
Manufacturing, Inc., the sole bidder; and
WHEREAS, the Cities, under their contract, have participated in
the acquisition costs of said property on the basis of
7/llths by Dallas and 4/llths by Fort Worth; NOW,
THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS:
SECTION 1. That upon receipt of $1,500,000.00 from Abbott
Diagnostic Manufacturing, Inc., for approximately 21.594 acres of
land located near the Dallas-Fort Worth International Airport
within the city limits of irving, Texas, the City Manager is
authorized to execute a special warranty deed, to be attested by
the City Secretary, upon approval as to form by the City.Attorney,
and following Dallas City Council approval of the sale and the
execution of the deed, subject to the reservation of an avigation
easement.
•. . ~ ~ ~ .
SECTION 2. That if~a title policy is desired at closing, it
shall be at the expense of Abbott Diagnostic Manufacturing, Inc.;
but that closing shall occur within sixty (60) days after Council
;;,~ approval at American Title Insurance Company, or a title company of
q~ buyer's choice.
CITY OF FORT WORTH
SECTION 3. That in .,the event an extension of the closing time
is needed by the purchaser, the P1roperty Management Director of the
City of Dallas and the Administrator for Real Property Management
of the City of Fort Worth, at their sole discretion, may extend the
closing deadline, provided, however, that in any event closing must
take place on or before June 30, 1993. .
SECTION 4. That the City Manager is authorized to execute any
other documents necessary to effectuate this transaction, upon
approval as to form by the City Attorney.
SECTION 5. That all costs of closing shall be borne by the
purchaser, except for the Cities' out-of-pocket expenses incurred
with regard to this transaction.
SECTION 6. That the net proceeds of the sale shall be dis-
tributed on the basis of four-elevenths (4/llths) to the City of
Fort Worth and seven-elevenths (7/llths) to the City of Dallas.
SECTION 7. That Fort Worth's share of the net proceeds shall
be deposited in the Capital Projects Reserve Fund, Account
GC 10 444552 013040001000.
SECTION 8. That in the event Abbott Diagnostic Manufacturing,
Inc., fails to close the transaction, the security deposit will be
retained by the Cities as liquidated damages and distributed on the
basis of 7/llths to the City of Dallas and 4/llths to the City of
Fort Worth, with the City of Fort Worth's share to be deposited as
herein provided.
SECTION 9. That this property is now on the tax exempt roll
in the name of the City of Dallas; but taxes, if any, for the
remaining part of the calendar year 1993 shall be assessed from the
date of conveyance in the name of Abbott Diagnostic Manufacturing,
Inc.
SECTION 10. That the DFW Airport Plan is hereby amended to
exclude the property authorized to be sold by this resolution.
SECTION 11. That this resolution shall take effect immed-
ately from and after its passage in accordance with the provisions
of the Charter of the City of Fort Worth, and it is accordingly so
resolved.
ADOPTED this ~~~ day of , 1993.
~~- .
~~ ~.
t
CITY OF FORT WORTH ~'