2013 Redevelopment Bond Fund - Preston Chase Motion to apply funds from the 2013 Redevelopment Bond Fund, as if a constructive purchase, to obtain the 13 plus or minus acres known as" Preston Chase" (purchased by the City with 2009 Parks Bond funds) in an amount equal to the original purchase price in 2010 of said Preston Chase plus all costs expended on this property to date of conveyance to Redevelopment Bond. Said proceeds shall be used to replenish exclusively into the 2009 Parks Bond fund and thereafter used, applied and governed by the covenants of said Parks Bond as if originally a part of such. This item was requested by Mayor Tumlin.

Committee

CITY COUNCIL

Requested by

City Manager

Introduced

December 5, 2013