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RESOLUTION 2011 - 13 2 R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, AUTHORIZING THE CITY MANAGER TO ENTER <br />INTO SEPARATE CONTRACTS FOR THE SALE OF TWO CITY - <br />OWNED SINGLE - FAMILY HOMES LOCATED AT 1700 RAMONA <br />CIRCLE AND 221 CAPISTRANO DRIVE TO QUALIFIED LOW TO <br />MODERATE INCOME HOMEBUYERS PURSUANT TO THE <br />REQUIREMENTS OF A NEIGHBORHOOD STABILIZATION ( "NSP ") <br />GRANT; AUTHORIZING THE CITY MANAGER TO EXECUTE SUCH <br />DOCUMENTS REASONABLY NECESSARY TO CONSUMMATE THE <br />SALE OF SAID HOMES; AND DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. The City received funding for the purchase and rehabilitation of foreclosed homes <br />for the purpose of resale to eligible low to moderate income homebuyers under a Neighborhood <br />Stabilization Program ( "NSP ") grant from the State of Texas. <br />2. The homes located at 1700 Ramona Circle and 221 Capistrano Drive were <br />foreclosed properties purchased and rehabilitated by the City with NSP grant funds and are now <br />eligible for resale to qualified low to moderate income homebuyers under the requirements of the <br />NSP grant. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The City Manager is authorized to enter into contracts for the sale of the <br />homes at 1700 Ramona Circle and 221 Capistrano Drive to qualified low to moderate income <br />homebuyers, subject to the requirements of the NSP grant awarded to the City. <br />PART 2. The City Manager is further authorized to execute any and all related <br />documents reasonably necessary to consummate the sales of said homes. <br />PART 3. This Resolution shall be in full force and effect from and after its passage. <br />ADOPTED on November 1, 2011. <br />1 <br />iel Guerrero v <br />Mayor <br />