Title
AN ORDINANCE DECLARING CERTAIN REAL PROPERTY NO LONGER NEEDED FOR MUNICIPAL PURPOSES AND AUTHORIZING THE SALE OF THE SAME
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
AN ORDINANCE DECLARING CERTAIN REAL PROPERTY NO LONGER NEEDED FOR MUNICIPAL PURPOSES AND AUTHORIZING THE SALE OF THE SAME. This is for the Dixie Furniture property and the portion of vacated alley just north of the property. This is to be sold to Alabama Credit Union and the anticipated closing date is July 9, 2014. In order for the sale to go through Council well need to suspend the rules for the immediate adoption of the Ordinance.
Body
BE IT ORDAINED BY THE CITY COUNCIL OF FOLEY, ALABAMA, at its meeting on July 7, 2014 as follows:
Section 1. It is hereby found, established, and declared that certain real property, which is located in Baldwin County, Alabama and which is described below, is not needed for public or municipal purposes, to wit:
Lots 7, 8 & 9, Block 3, Magnolia Land Company's Addition to the Town of Foley, Alabama, recorded in Map Book 1, Page 25, Judge of Probate, Baldwin County, Alabama.
And
The south one-half of that certain alley lying between Lots 7, 8 and 9, Block 3, and Lots 1, 2, and 3, Block 3, Magnolia Land Company's Addition to the Town of Foley, Alabama recorded in Map Book 1, page 25, Judge of Probate, Baldwin County, Alabama. The west boundary of said land being an extension in a northerly direction of the west line of Lot 7 of said Block 3 to the southwest corner of said Lot 1, and the east boundary of said land being an extension in a northerly direction of the east boundary of Lot 9, Block 3 to the southeast corner of said lot 3.
Section 2. It is further hereby found, established, and declared that the sale of the property to Alabama Credit Union, which desires to acquire said real property, will serve a public purpose and will serve the best interests of the public and the City of Foley by improving said property as a financial institution.
Section 3. It is further hereby found, established, and declared that the sale of the Property in exchange for $225,000.00 is in the best interest of the City of Foley and is the fair and reasonable market value of the property.
Section 4. That, pursuant to the authority granted by Section 11-47-20, Code of Alabama, and state law, the Mayor and the City Clerk are hereby authorized and directed to execute, attest, and deliver a deed to said property to Alabama Credit Union, to execute such other, further, and different documents as may be reasonably required or necessary to accomplish the transfer of marketable title to said property, and to take any and all other actions they deem necessary or prudent to effectuate the transfer of title of said property.
Section 5. This ordinance shall become effective immediately upon its adoption and publication as required by law.