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VII-E <br />Dr. Rogmv Worner <br />Kay 12, 1988 <br />Page 2 <br />tther Council members felt since we had paid market value for the <br />property, in addition to the reasons sited by the Attorney, such a <br />restriction was inappropriate and certainly would not have been <br />required in the event of a sale to a third party. This restriction <br />had also not been raised at the time we met the School District's <br />purchase price of $470,000, <br />After discussion, a resolution was unanimously adopted against such <br />+a restrictive covenant with the stipulation that I advise the <br />School Board that our City intendrt to continue the use of the <br />property for park and recreation purposes as we have in the past, <br />that we do not foresee any chance in such use in the future and <br />that if unforeseen circumstances require that a future Council <br />utilize the property in a different way, the City would meet and <br />confer with the School District to insure that its concerns were <br />properly addressed. I hope this assurance of our City0s good faith <br />intentions will suffice so that we can complete this transaction at <br />the sgreed price at the earliest possible date. <br />Please call me if you have any further questions concerning this <br />transaction. We are prepared to close as soon as our Attorney has <br />verified the title on the property. <br />r <br />ti r Your% trul , <br />Michael I. Fahey <br />Mayor <br />MIFzbj <br />cc: City Council Members <br />2 <br />VII-E <br />