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<br />49. <br /> <br />RESOLUTION NO. 2005 - 41 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS APPROVING AN EARNEST MONEY <br />CONTRACT WITH JAMES K. WISE REAL ESTATE, INC. <br />FOR THE CITY'S ACQUISITION OF A 0.406 ACRE TRACT <br />OF PROPERTY AT THE INTERSECTION OF STATE <br />HIGHWAY 123 AND COUNTY ROAD 266 IN CONNECTION <br />WITH IMPROVEMENTS TO THAT INTERSECTION; AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City has initiated a project for improvements to the intersection of Old <br />Bastrop Highway (County Road 266) and State Highway 123, and the City needs to <br />acquire a 0.406 acre tract of property (the "Property") at the intersection from James K. <br />Wise Real Estate, Inc. to facilitate the realignment of the intersection. <br /> <br />2. The City's right-of-way agent has negotiated the terms of the attached <br />Earnest Money Contract (the "Contract") for the acquisition of the Property. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The attached Earnest Money Contract with James K. Wise Real <br />Estate, Inc. for the City's acquisition the Property is approved. <br /> <br />PART 2. The City Manager. Dan O'Leary, is authorized to execute the attached <br />contract and other documents related to the City's acquisition of the Property. <br /> <br />PART 3. <br />passage. <br /> <br />This Resolution shall be in full force and effect from and after its <br /> <br />ADOPTED on April 6, 2005. <br /> <br />~a~ <br /> <br />Mayor <br /> <br />~te t: ". A). ~/ J <br />I 'tJ/rd/l 'YJ' 'If f)WM <br />J nis K. Womack <br />City Clerk <br />