Res 2013-116/Approving an agreement w/Union Pacific Railroad Company for the City to purchase land adjacent to the railroad crossing at S. LBJ Dr. and Edward Gary St.

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RESOLUTION NO. 2013-116R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS APPROVING AN AGREEMENT WITH UNION PACIFIC RAILROAD COMPANY FOR THE CITY TO PURCHASE LAND ADJACENT TO THE RAILROAD CROSSING AT SOUTH LBJ DRIVE AND EDWARD GARY STREET FOR A PRICE NOT TO EXCEED $423,305.00 BASED ON A FINAL SURVEY AT A RATE OF $5.25 PER SQUARE FOOT; AUTHORIZING THE CITY MANAGER TO EXECUTE SAID AGREEMENT; AUTHORIZING THE CITY MANAGER TO ACCEPT AND EXECUTE ALL ASSIGNMENTS OF LEASES, LICENSES AND OTHER AGREEMENTS FOR THE USE OF SAID PROPERTY BY THIRD PARTIES; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL CLOSING DOCUMENTS RELATED TO SUCH PURCHASE; AND DECLARING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. To purchase land adjacent to the railroad crossing at South LBJ Drive and Edward Gary Street as described in the attached agreement for a price not to exceed $423,305.00 based on a final survey at a price of $5.25 per square foot is hereby approved. PART 2. The City Manager is hereby authorized to sign an agreement for said purchase in substantially the form of the attached agreement on behalf of the City. PART 3. The City Manager is hereby authorized to accept and sign on behalf of the City any assignments of leases, license agreements or other agreements for the use of said property by third parties and to execute all closing documents related to the purchase. PART 4. This Resolution shall become effective immediately from and after its passage. ADOPTED on August 6, 2013. D iel Gue Mayor