Resolution No. 15-21 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO.
A RESOLUTION ACCEPTING THE CITY CENTER DEVELOPMENT AGENCY'S
ASSIGNMENT OF THE RIGHT TO PURCHASE THE SAXONY-PACIFIC PROPERTIES
UNDER THE PURCHASE AGREEMENT
WHEREAS, on April 9, 2014 a Purchase Agreement for the Saxony-Pacific properties was executed by the
Seller and City Center Development Agency;and
WHEREAS, in December 2014 the parties executed a First Amendment to the Purchase Agreement which
provided the ability for the Agency to assign its rights under the agreement to the City of Tigard;and
WHEREAS,Park Bond funds were identified as a potential source to purchase the properties;and
WHEREAS, using Park Bond funds necessitates the assignment of the rights under the Purchase Agreement
to purchase the Saxony-Pacific properties from the City Center Development Agency to the City of Tigard;and
WHEREAS,the Board of the City Center Development Agency has in a separate resolution assigned the right
to purchase the Saxony-Pacific properties to the City of Tigard.
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that:
SECTION 1: The City of Tigard accepts the assignment of the right to purchase the Saxony-Pacific
properties provided for in the Purchase Agreement and Escrow Instructions executed on
April 9,2014 from the City Center Development Agency.
SECTION 3: This resolution is effective immediately upon passage.
PASSED: This CzG/// day of 2015.
Mayo - ity of Tigard
ATTEST:
City Recorder-City of Tigard Cl
RESOLUTION NO. 15-,/
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