HomeMy WebLinkAboutEDCRes2014.08.04ANNA ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO. QON-Ce"Ci (CDC)
A RESOLUTION OF THE ANNA ECONOMIC DEVELOPMENT CORPORATION
AUTHORIZING EXECUTION OF AN AGREEMENT TO SELL PROPERTY OWNED
BY THE EDC
WHEREAS, the Anna Economic Development Corporation (the "EDC") intends to sell
a tract of real property described in further detail below; and
WHEREAS, the EDC has determined that selling of the property is in the financial
interests of the EDC;
NOW THEREFORE, BE IT RESOLVED BY THE ANNA ECONOMIC DEVELOPMENT
CORPORATION, THAT:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Authority to Execute Financing Agreement
The EDC hereby authorizes the Chief Administrative Officer to execute, on the EDC's
behalf, a purchase and sale agreement along with any associated documents
(collectively, the "Sale Documents") necessary to set forth an arrangement between
the EDC and the Buyer (the "Buyer") of the EDC property, which is approximately 48
acres and is described in more detail in the attached EXHIBIT A, incorporated herein
for all purposes. The sales price of the property is $_500,000_. The authority to
execute the Sale Documents is subject to approval of the form of same by the EDC's
legal counsel, and any necessary approval by the City of Anna City Council.
PASSED AND APPROVED by the Anna
day of , 2014.
APPROVED:
G'
o stance Stump, EDC Pfesidek
Economic Development Corporation this q fy
EDC OF ANNA, TEXAS RESOLUTION NOklq-0y-0 CwC) PAGE 1 OF 1
Exhibit A
BEING all of that certain 48.004 acre tract of land situated in Collin County, Texas, in the J.C. Brantley
Survey, Abstract No. 114, and being a re -survey of a called 47.98 acre tract of land described in a
Special Warranty Deed recorded at County Clerk File No. 96-0062799 in the Collin County Deed
Records, and being more particularly described by metes and bounds as follows:
BEGINNING at a 112 inch iron rod found at a bend in County Road 427 at the most Northerly corner of
said 47.98 acre tract, being the Southeast corner of a called 65.543 acre tract of land described as Tract 7
in a Quitclaim Deed recorded at County Clerk File No. 96-0110244, said point also being the Southwest
comer of a called 25.024 acre tract of land described in a General Warranty Deed recorded in Volume
4942, Page 511 of said deed records, from which a PK nail set at the centerline intersection of County
Road 427 and County Road 376 bears North 00 deg. 00 min. 37 sec. 'West, 874.54 feet, said found 112
inch iron rod being the most Northerly corner hereof;
THENCE South 59 deg. 24 min. 09 sec. East generally along the center of County Road 427, the
Northeasterly line of said 47.98 acre tract and the Southwesterly line of said 25,024 acre tract a distance
of 577.27 feet to a 112 inch iron rod found in the center of County Road 427 at the common East corner
thereof, from which a 112 inch iron rod found in concrete on the North side of County Road 427 bears
North 33 deg. 06 min. 00 sec. East, 19.67 feet, said found 112 inch iron rod in the center of County Road
427 being the most Easterly corner hereof;
THENCE South 33 deg. 59 min. 07 sec. West along a Southeasterly line of said 47.98 acre tract, at 24.66
feet pass over a 112 inch iron rod found at a fence corner post and continuing generally along or near a
fence on a Southeasterly line of said 47.98 acre tract and a Northwesterly line of a called 24.722 acre
tract of 113 0d described in a Warranty Deed recorded at County Clerk File No. 95-0083 721 a distance of
892.84 feet to a 1/2 inch iron rod found at a fence corner post at a common corner thereof;
THENCE South 61 deg. 56 min. 28 sec. West generally along or near a fence on a Southeasterly line of
said47.98 acre tract and a Northwesterly line of said 24.722 acre tract a distance of 1558.68 feet to a 112
inch iron rod found at a fence corner post at the common West corner thereof, said point being in the
East line of the Dallas Area Transit (DART) rail right-of-way (50 feet from centerline) said found 1/2
inch iron rod being the most Southerly corner hereof;
THENCE North 24 deg. 00 min. 42 sec. West generally along .or near a fence on the East line of said
DART rail right-of-way (50 feet from centerline) a distance of 1278.03 feet to a 112 inch iron rod found
therein at the Southwest corner of said 65.543 acre tract, said found 1/2 inch iron rod being the
Northwest corner hereof;
THENCE North 76 deg. 53 min. 40 sec. East along the South line of said 65.543 acre tract, at 1.30 feet
pass over a 112 inch iron rod found at the Northwest corner of said 47.98 acre tract, and continuing
along the South line of said 65.543 acre tract and the North line of said 47.98 acre tract a distance of
1822.79 feet to a 1/2 inch iron rod found at a common Easterly corner thereof, said found 1/2 inch iron
rod being a Northerly corner hereof;
THENCE North 33 deg. 16 min. 07 sec. East along the Northwest line of said 47.98 acre tract and
the Southeast line of said 65.543 acre tract a distance of 223.15 feet to the Place of Beginning and
being calcL 1 lated to Contain 48.004 acres of land, more or less.