RE 01-12-88.2 RESOLUTIONS OF THE CITY COUNCIL OF
THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 011288.2
WHEREAS, The Parks of Coppell Joint Venture II ("Owner") is
the owner of certain real property located within the City of
Coppell, Texas (the "City'"); and
WHEREAS, the City has exercised its option to purchase
park site containing approximately 62.312 acres of land from
Owner, as more particularly described in Exhibit A attached
hereto and incorporated herein by reference for all purposes
(the "Park Site"), by letter, dated December 30, 1987, pursuant
to that certain instrument captioned Option Agreement
Phase III, dated December 30, 1982, between Owner and the City,
as amended by that certain Amendment to Contract of Sale, dated
January 27, 1987, between Owner and the City (the "Option
Agreement'"); and
WHEREAS, the option price of $170,750.00, paid on
December 30, 1982, was applied pursuant to the Option Agreement
to the total purchase price for the Park Site of $185,750.00;
and
WHEREAS, that certain appraisal, dated January 28, 1987,
prepared at the request of the City by Bill C. Dotson
Associates indicated that the appraised fair market value of
the Park Site as of December 29, 1986, was $1,270,000.00; and
WHEREAS, the City Council has concluded that the Park Site
was made available to the City by Owner at an advantageous
price which was substantially less than its true fair market
value, as indicated by the appraised value thereof when
compared to the purchase price; and
WHEREAS, the City wishes to acknowledge that the Park Site
was conveyed to the City by Owner and accepted by the City in
part as a good faith charitable donation by Owner to the City~
and
WHEREAS, the City Council has concluded that the acts of
the Mayor of the City in executing on behalf of the City all
contracts, memoranda of contracts, notes, deeds of trust,
letter agreements, and all other instruments necessary to
effect such purchase, including any necessary modification to
such instruments as first drawn and considered by the City
Council, should be ratified and affirmed.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COPPELL, TEXAS, THAT:
SECTION 1. The City hereby acknowledges with great
appreciation the good faith charitable donation by Owner to the
City resulting from Owner selling the Park Site to the City at
below the appraised value thereof. The City further hereby
acknowledges that such good faith charitable donation by Owner
to the City will greatly enhance the quality of life within the
City.
SECTION 2. The actions of Dan Stanton, the person
holding the office of Mayor Pro Tem of the City of Coppell,
Texas, acting in the absence of Lou Duggan, who holds the
office of Mayor of the City of Coppell, Texas, in executing and
delivering on behalf of the City the notice of exercise of the
option and in executing and delivering all other instruments
and performing all other acts necessary to effect the purchase
of the Park Site are hereby ratified, confirmed and approved,
and further, in that Lou Duggan, as Mayor of the City of
Coppell, was heretofore authorized and directed to deliver for
and on behalf of the City, without further authorization from
the City Council, the cash portion of the purchase price for
the Park Site pursuant to the Option Agreement, and to execute
all other instruments and perform all other acts necessary to
effect the purchase of the Park Site.
SECTION 3. These resolutions shall take effect
immediately from and after their passage.
DULY PASSED, by the C,~¥ Council of the City of Coppell,
Texas, on the /~--day of~ , 198~_~.
Mayor
ATTEST:
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I, ~'~P'~I /~33 , City Secretary of the City
of Coppell, Texas, a municipal corporation, do hereby certify
that a meeting of the Ci~ Council of the City of Coppell was
held on the /~'~day of ~./0~ , 19~ , at which a
quorum was present, and acting~ throughout, the foregoing
resolutions were adopted, the same now are in full force and
effect.
I do further certify that, as of this date, Lou Duggan is
the Mayor of the City of Coppell, having been duly elected to
such office and now holding same.
IN WITNESS WHEREOF, I have hereunto set my hand as City
Se~qcretary of the City of Coppell, Texas, this /~day of
fity aF~cret ary
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EXHIBIT A
BEING a 62.312 acre tract of land situated in the Alfred
Logsdon Survey, Abstract No. 783, the Clarinda Squires Survey,
Abstract No. 1327, and the Heirs of Gilbert C. Woolsey Survey,
Abstract No. 1402, in the City of Coppell, Dallas County,
Texas, and being more particularly described as follows:
BEGINNING at a point on the North line of Parkway Blvd. (an
88 foot R.O.W.) as recorded in Volume 84040, page 3023 in the
Deed Records of Dallas County, Texas, said point being the
Southwest corner of Park Meadow Section One, an addition to the
C~ty of Coppell, as recorded in Volume 85094, page 4483 in the
Deed Records of Dallas County, Texas, said point also being the
beginning of a curve to the left having a central angle of
13°17'36", a radius of 2244.00 feet, a tangent length of
261.49 feet and a chord bearing and distance of
South 82°22'04" West, 519.47 feet;
THENCE Southwesterly along said curve to the left and said
North line of Parkway Blvd. for an arc distance of 520.64 feet
to a point for corner;
THENCE North 00~52'35" West leaving said North R.O.W. line for
a distance of 1320.28 feet to a point for corner;
THENCE North 85~51'39# East for a distance of 326.74 feet to a
point for corner;
THENCE North 74~11'59" East for a distance of 175.00 feet to a
point for corner;
THENCE North 60~13'54" East for a distance of 255.30 feet to a
point for corner;
THENCE North 67°26'14' East for a distance of 185.00 feet to a
polnt for corner;
THENCE South 88°37'46' East for a distance of 75.90 feet to a
point for corner;
THENCE South 81°49'11" East for a distance of 195.25 feet to a
point for corner;
THENCE South 89°55'41" East for a distance of 212.55 feet to a
point for corner;
THENCE North 70°25'54# East for a distance of 75.45 feet to 3
point fo[ corner;
THENCE North 56°17'59" East for a distance of 176.70 feet to a
point for corner;
THENCE North 65°41'19" East for a distance of 152.20 feet to a
point for corner;
THENCE North 46°47'18" East for a distance of 121.69 feet to ~
point for corner;
THENCE North 20°10'26" East for a distance of 137.04 feet to a
point for corner;
THENCE North 41°44'01.' West for a distance of 89.90 feet to a
point for corner;
THENCE North 20"21'39' East for a distance of 153.00 feet to a
point for corner;
THENCE South 69°58'21# East for a distance of 182.00 feet to a
point for corner;
THENCE North 87°01'39' East for a distance of i31.00 feet to a
point for corner;
THENCE North 73~01'39# East for a distance of 32.52 feet to a
point for corner;
THENCE South 16°14'58# East for a distance of 233.68 feet to a
point for corner;
THENCE South 15°09'53' East for a distance of 1008.05 feet to a
point for corner;
THENCE South 18°22'14' East for a distance of 29.92 feet to the
Northwest corner of Park Meadow Section Two, addition to the
City of Coppell, as recorded in Volume 86108, page 6975 in the
Deed Records of Dallas County, Texas;
THENCE South 38°51'04' West along the North line of said Park
Meadow Section Two for a distance of 173.02 feet to the
beginning of a curve to the right having a central angle of
41°31'21", a radius of 300.00 feet and a tangent length of
113.73 feet;
THENCE Southwesterly along said curve and along said North line
of said Park Meadow Section Two for an arc distance of
217.41 feet;
THENCE South 80°22'25" West continuing along said North line
for a distance Of 331.76 feet to a point for corner;
THENCE South 87°44'42# West continuing along said North line of
Park Meadow Section Two and along the North line of said Park
Meadow Section One for a distance of 1272.85 feet to the
Northwest corner of said Park Meadow Section One;
THENCE South along the West line of said Park Meadow
Section One for a distance of 479.21 feet to the POINT OF
BEGINNING and containing 2,714,311 square feet or 62.312 acres
of land.
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