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<br />RESOLUTION 2007- 133 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS AUTHORIZING THE PURCHASE FROM THE <br />NATURE CONSERVANCY OF DEDICATED PARKLAND <br />TOTALING 250.7 ACRES, MORE OR LESS; AUTHORIZING THE <br />CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS <br />IN CONNECTION WITH THE PURCHASE; AND DECLARING AN <br />EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. City voters on November 8, 2005, approved a proposition for the issuance of $2 <br />million in general obligation bonds for the purchase of green space land in the Rogers <br />Ridge area and the Spring Lake/Sink Creek watershed. <br /> <br />2. The Nature Conservancy executed a purchase agreement with RYS, Ltd. for the <br />purchase of a 250.7 acre tract of property in this area in December of 2005, for <br />$4,869,000. <br /> <br />3. In January 2006, the City entered into an agreement with the Nature Conservancy <br />to purchase the tract of property, by May 2008, using a variety or resources, including <br />grants, donations, and funds approved by City voters. <br /> <br />4. The City has now acquired all of the funds to purchase the property. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The following purchase of real property for parkland use is approved: <br /> <br />A 250.7 acre, more or less, piece of property out of the T.J. Chambers Survey, <br />Abstract No.2, as more particularly described on the attached Exhibit A. <br /> <br />the parcel being purchased for the total price of $ 4,918,950.50, including all closing <br />costs. <br /> <br />Part 2. The City Manager, Dan O'Leary, is authorized to execute all necessary <br />documents in connection with the purchase described above on behalf of the City. <br /> <br />Part 3. This Resolution is in full force and effect from and after its passage. <br />