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66 <br /> <br />to permit the Authority to assist in the financing of the <br />Project. <br /> <br /> 2. The approval of the issuance of the Bonds does not <br />constitute an endorsement to a prospective purchaser of the <br />Bonds of the creditworthiness of the Project or the Company. <br /> <br /> 3. Pursuant to the limitations contained in Temporary <br />Income Tax Regulations Section 5f.103-2(f)(1), this <br />resolution shall remain in effect for a period of one year <br />from the date of its adoption. <br /> <br /> 4. This resolution shall take effect immediately upon <br />its adoption. <br /> <br />RESOLUTION: AUTHORIZING SALE OF PROPERTY AT 815 E. JEFFERSON ST. <br /> <br /> Mr. Hendrix stated that it had been discovered following <br />a survey that a sidewalk thought to belong to Jefferson <br />Street Ltd. Partnership was actually City property and the <br />Partnership was requesting that the City sell the property <br />for $8 per square foot. Mr. Hendrix stated that the City has <br />no need for the property and recommended that it be sold. <br /> <br /> On motion by Mrs. Gleason, seconded by Mr. Towe, the <br />resolution authorizing the sale of property at 815 E. <br />Jefferson Street was unanimously approved by Council. <br /> <br /> WHEREAS, the City of Charlottesville is the owner of <br />record of a certain tract of land at the corner of East <br />Jefferson Street and 9th Street in the City of <br />Charlottesville as shown on a plat of survey of record in the <br />Clerk's Office in the City of Charlottesville in Deed Book <br />223, Page 119 (the "City Property"); and <br /> <br /> WHEREAS, the 815 East Jefferson Street Limited <br />Partnership, a Virginia limited partnership with Kurt <br />Wassenaar as general partner, (the "Partnership") owns a <br />tract or parcel of land fronting on East Jefferson Street <br />designated as Parcel 188 on Tax Map 53, (the "Property") <br />which is adjacent to the City Property, and as shown on a <br />survey titled "Tax Map 53, Parcel 188" by Kirk Hughes and <br />Associates dated January 6, 1988, (the Survey), an addition <br />to the improvements located on the Property encroaches upon <br />the City Property, said encroachment dating back to an <br />addition to the Property which was constructed sometime <br />during or before the 1920's, (copy of the survey is attached <br />hereto as Exhibit A); and <br /> <br /> WHEREAS, the Partnership in its efforts t obtain good <br />and clear title to the additions and all improvements on the <br />Property desires to purchase from the City a sufficient <br />portion of the City Property in order to remove any such <br />clouds on its title; and <br /> <br /> WHEREAS, the Partnership has submitted an offer to <br />purchase from the City a portion of the City Property in the <br />dimensions of 50.31 feet by 3.7 feet, designated as Parcel A <br />on the Survey, totaling 186.15 square feet, at $8.00 a square <br />foot for a total purchase price of $1,489.20, said offer <br />attached hereto as Exhibit B; and <br /> <br /> WHEREAS, after careful consideration and furtherance of <br />the foregoing public purpose NOW, THEREFORE, BE IT RESOLVED <br />BY THE COUNCIL FOR THE CITY OF CHARLOTTESVILLE, VIRGINIA <br />THAT: <br /> <br /> 1. For the purpose of resolving the boundary <br />encroachment between Tax Map 53, Parcel 188 and the City <br />Property and for the purpose of adding the additional Parcel <br />A to the tax rolls of the City of Charlottesville, the <br />transfer and conveyance of Parcel A by the City of <br />Charlottesville of its ownership interests in Parcel A is <br /> <br /> <br />