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2 <br />7 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />SECTION 1. RECITALS. The City Council does hereby find and affirm the above - <br />noted recitals are true and correct and hereby incorporated in the body of this Resolution as if <br />restated in full. <br />SECTION 2. APPROVAL OF AGREEMENT. The City Council hereby approves and <br />accepts the conveyance of the Property to the City by and pursuant to the terms and conditions set <br />forth in the attached Purchase and Sale Agreement and Joint Escrow Instructions. The City <br />Council hereby authorizes and directs the City Manager (with the concurrence of the City <br />Attorney) to execute and deliver on behalf of the City the Agreement and any documents and <br />instruments as may be necessary or convenient in the furtherance of the actions authorized by this <br />Resolution. <br />SECTION 3. CEOA. The City Council hereby authorizes and directs City staff to file a <br />Notice of Exemption for the City as a lead agency under CEQA within five (5) days from the <br />adoption of this Resolution. <br />SECTION 4. APPROPRIATION OF EXPENDITURES. The City Council authorizes <br />an adjustment to the Fiscal Year 2016-17 budget, for an appropriation of $1,134,000 plus <br />estimated closing costs of $6,500 as follows: <br />Appropriate the Expenditure in the amount of $1,140,500 for associated <br />expenses related to that certain Purchase and Sale Agreement for purchase <br />and subsequent sale of APN 0254-191-11, the Property, from Colton <br />Electric Utility Rate Stabilization/Land Purchase Account 520-8000-8001- <br />4960-0000-000. <br />SECTION 5. CERTIFICATION. The City Clerk shall certify to the passage and <br />adoption of this Resolution and the same shall thereupon take effect and be in force immediately <br />upon its adoption. <br />SECTION 6. EFFECTIVE DATE. The Mayor shall sign this Resolution and the City <br />Clerk shall attest thereto, and this Resolution shall take effect immediately upon its adoption. <br />PASSED, APPROVED AND ADOPTED this 5th day of July, 2016. <br />ATTEST: <br />CAROLINA R. PADILLA, City Clerk <br />-2- <br />