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Resolution No. 02-50 CITY OF TIGARD, OREGON RESOLUTION NO. 02 L A RESOLUTION AUTHORIZING THE SALE OF SURPLUS PROPERTY PURCHASED FOR ACCESS TO THE MENLOR RESERVOIR. WHEREAS, the piece of property acquired for the Menlor Reservoir has been defined as developed property according to the Tigard Municipal code Chapter 3.44.005; WHEREAS, Tigard Municipal Code Chapter 3.44.015 describes the process to dispose of property such as this; and WHEREAS, notification has been published in a newspaper of general circulation for a five day period prior to the hearing and shall describe the property proposed for sale, WHEREAS, an appraisal has been completed and, WHEREAS, a public hearing was held and public testimony solicited as to whether the sale would be in the public interest, and WHEREAS, the Council has considered whether to offer the property for sale and what the minimum acceptable terms shall be. NOW, THEREFORE,BE IT RESOLVED by the Tigard City Council than SECTION 1: The sale of property identified as Parcel I of Tax Lot 600, T2S, R1W, Section 05DB, W.M.,Washington County,is in the public best interest. SECTION 2: The property is defined as developed property. SECTION 3: A notice soliciting sealed bids shall be published according to TMC 3.44.015 (F) SECTION 4: The property shall be sold according to TMC 3.44.015 (F), (U), and(H). SECTION 5: The minimal acceptable terms shall be: (a) Payment of$285,000 with the full amount paid to City no later than closing. (b) Payment of earnest money in the amount of$5,000 within 5 days of bid award. (c) Closing within 45 days of bid award SECTION 6: Bids may be rejected for failure to comply with the requirements of TMC Chapter 3.44, this resolution, or invitation to bid. The City Manager or designee may reject any or all bids based on a finding that it is in the public interest to do so. Any rejection of bids may be appealed to the Council by filing a written appeal with the City Recorder within 5 business days of the rejection. Only the rejected bidder may file an appeal. RESOLUTION NO. 02_. ) ( Page 1 SECTION 7- The City Manager or designee shall complete the sale with the highest bidder(excluding rejected bids),provided the bid is equal to or greater than the minimum acceptable price. If the highest bidder fails to complete the sale, the City Manager or designee shall complete the sale with the next highest bidder, provided the bid is equal to or greater than the minimum acceptable price. PASSED: This day of -' Lt G 2002.. A 4AJ or-Cfity of i ATTEST: City Recorder-City of Tigard i AcitywideVesolut.dot RESOLUTION NO. 02-�)C,) Page 2