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ORDINANCE NO. /967
1 r
AN ORDINANCE of the City of Port Angeles amending
the 1978 City budget and increasing appropriations
for the acquisition of certain park related property.
WHEREAS, the City of Port Angeles is engaged in the re-
construction of the City's Civic Field and Stadium;
AND, WHEREAS, it has been found necessary and desirable
that parking facilities to Civic Field be expanded to accommodate
community vehicles;
AND WHEREAS, suitable property for such purposes has
been located adjacent to Civic Field;
NOW, THEREFORE, be it ordained by the City Council of
the City of Port Angeles as follows:
1. The City Manager is hereby authorized to execute
a purchase agreement with Mr. Ronald G. King, for acquisition of
the real property described below:
"Lots 14 -20, Block 2, Doyle's Subdivision of
Suburban Lot 20 of the Townsite of Port Angeles;
including real property, improvements, buildings,
structures, and normal appurtenances to the improve-
ments thereon."
2. The purchase price for the property will be
$92,850, payable as follows:
(a) - $37,614.98 by assumption of an outstanding
mortgage held by First Federal Savings and
Loan Association of Port Angeles;
(b) $2,385.02 paid as contract closing costs
(c) Three remaining annual installments of
$13,750 each, and one final payment of
$11,600. Financed balance to carry an
annual interest rate of 8 %; provided that
the City reserves the option to pay off the
unpaid balance or any part thereof after
January 1, 1979, without penalty.
3. The 1978 budget for the Current Expense Fund,
General Administration Department, Account Number 61, is hereby
increased by $40,000.00 to fund initial purchase and closing
costs.
This action is deemed necessary in the public interest
and was not reasonably forseeable at the time of adoption of the
regular City budget.
PASSED by the City Council of the City of Port Angeles
at a regular meeting of the Council held on the 18th day of April,
1978.
ATTEST:
A-1/045
Marian C. Parrish, City Clerk
APPROVED AS TO FORM:
. T. Walrath, City Attorney
PUBLISHED: