RE 2016-0426.3 Luminant
RESOLUTION NO. 2016-0426.3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COPPELL, TEXAS, APPROVING THE TERMS AND
CONDITIONS OF A PURCHASE AND SALE AGREEMENT BY
AND BETWEEN CITY OF COPPELL AND LUMINET
GENERATION COMPANY LLC; AUTHORIZING THE CITY
MANAGER TO SIGN SAID AGREEMENT, WHICH IS ATTACHED
HERETO AS EXHIBIT A AND REQUIRED CLOSING
DOCUMENTS; PROVIDING THE MAYOR TO ACCEPT THE
DEED THEREOF; AND REPEALING ALL RESOLUTIONS IN
CONFLICT; PROVIDING A SEVERABILITY CLAUSE; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS,
Coppell desires to purchase approximately 18 acres of real property lying
adjacent to real property currently owned by the City,
WHEREAS
, such real property will enhance the City ability to develop and utilize
current real property for the benefit of its citizens for future use.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS THAT:
SECTION 1.
The City Council hereby approves the terms and conditions of a purchase
and sale agreement to acquire approximately 18 acres by and between the City of Coppell and
Luminet Generation Company LLC in an amount of $1,925,500.00; and, hereby authorizes the
City manager to execute said agreement, as provided in Exhibit A, and such other documents as
will be required at closing; and authorize the mayor to accept the deed or said real property.
SECTION 2.
Any prior resolution of the City Council in conflict with the provisions
contained in this Resolution are hereby repealed and revoked.
SECTION 3.
Should any part of this resolution be held to be invalid for any reason, the
remainder shall not be affected thereby, and such remaining portions are hereby declared to be
severable.
SECTION 4.
This resolution shall take effect immediately from and after its passage, and
it is duly resolved.
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DULY PAS ED and approved by the City Council of the City of Coppell, Texas, on this
thWtday of , 2016.
AP " OVE ! :
' l I, /I
Ka en Sel so Hunt, :yor
ATTEST:
Christel Pettino , ity Secretary
APPROVED AS TO FORM:
Robert . Hager, Cit Attorney
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