HomeMy WebLinkAboutReso 82-163 - Authorizing the Mayor to Execute a Purchase and Sale Agreement BetweenCOR and PG&E for the Purchase of Electric Distribution and Street Lighting Facilities in the Area Comprising the Enterprise Electrical Annexation #3 RESOLUTION NO. .62 -/L3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE MAYOR TO EXECUTE A PURCHASE AND SALE
AGREEMENT BETWEEN THE CITY OF REDDING AND PACIFIC GAS
AND ELECTRIC COMPANY FOR THE PURCHASE OF ELECTRIC DISTRI-
BUTION AND STREET LIGHTING FACILITIES IN THE AREA COM-
PRISING THE ENTERPRISE ELECTRICAL ANNEXATION #3 .
WHEREAS , the City of Redding annexed the unincorporated
areas comprising the Enterprise Electrical Annexation #3 on the
following dates :
1 . 80-6 October 17 , 1980
2 . 80-7 October 17 , 1980
3 . 80-8 December 18 , 1980
4 . 80-10 April 10 , 1981
and such annexations were certified on the dates above written by
the Secretary of State of the State of California , and
WHEREAS , Pacific Gas and Electric Company owns and operates
an electric distribution system which serves electricity to
approximately 172 customers within the aforesaid annexed areas ,
together with certain street lighting facilities located therein ,
and
WHEREAS, the City has the power of eminent domain to acquire
by condemnation these facilities from Pacific Gas and Electric
company, and
WHEREAS, in order to avoid a condemnation suit and to
compromise possible litigation, Pacific Gas and Electric Company
a
411
has expressed its willingness to sell the electric distribution
and street lighting facilities within the annexed areas to the
City of Redding as inventoried effective June 25 , 16 , 1981 , for
the sum of $378 , 063 . 00 , and for an additional sum of $2 , 297 . 00
for severance costs , and in accordance with the terms and condi-
tions of the purchase and sale agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Redding as follows :
1. That the above recitals are true and correct.
2 . That the City Council does hereby approve the purchase
of the electric distribution and street lighting facilities from
Pacific Gas and Electric Company for the sum of $378 , 063 . 00 , and
severance costs in the sum of $2 , 297 . 00 , in accordance with the
terms and conditions as set forth in said agreement.
3. That this approval in no way shall be construed to
constitute an acceptance by the City Council of the City of
Redding of any principles of valuation used by the Pacific Gas
and Electric Company in arriving at the compromise valuation
offered to the City in the aforesaid proposed purchase and sale
agreement.
4 . That the Mayor be and hereby is authorized to execute
said agreement for and on behalf of the City of Redding.
I HEREBY CERTIFY that the foregoing Resolution was introduced
and read at a regular meeting of the City Council of the City of
Redding on the 4th day of October , 1982 , and was
-2-
duly adopted at said meeting by the following vote:
AYES: COUNCILMEN: Demsher, Fulton, Kirkpatrick, Pugh and Gard
NOES: COUNCILMEN: None
ABSENT : COUNCILMEN: None
BPRBi C.) (-11,v -9-U
ARA ALLEN CARD, Mayor
City of Redding
ATTEST:
ETHEL A. NICHOLS , City Clerk
FORM AP ROVED :
I
o .c.r.l 07 d��n/
RAND' LL A. HAYS, CCitY Attorney