HomeMy WebLinkAboutResolution - 2011-R0376 - Intent To Accept Donation Of Real Property - Suncrest Addition - 08/25/2011Resolution No. 2011-RO376
August 25, 2011
Item No. 5.23
RESOLUTION
WHEREAS, certain real property (the "Property") more particularly described in Exhibit
"A" attached hereto is currently held in the receivership estate (the "Estate") in connection with
the Securities and Exchange Commission v. Benny L. Judah and Excel Lease Fund, Inc., Case
No. 5:09 -CV -87-C in the United States District Court for the Northern District of Texas,
Lubbock Division; and
f WHEREAS, the court-appointed receiver (the "Receiver") has been directed and
authorized to perform all acts necessary to conserve, manage, and preserve the value of the
Estate in order to prevent irreparable loss, damage, and injury to the Estate; and
WHEREAS, the Property in the determination of the Receiver has inconsequential value
and benefit to the Estate, and further continues to burden the Estate with associated costs and
taxes; and
WHEREAS, the Receiver has expressed a desire to abandon the Property and donate it to
the City of Lubbock, so as to mitigate ongoing expenses to the Estate, and further to relieve the
Estate of any future obligations to maintain the Property; and
WHEREAS, the City of Lubbock desires to accept donation of the Property.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LUBBOCK:
THAT the City Council of the City of Lubbock shall and does, by and upon passage
hereof, formally express a desire and intent to accept donation of certain real property described
in Exhibit "A" attached hereto, and authorizes the Mayor to take all necessary action to effectuate
the transfer thereof to the City of Lubbock.
CONSIDERED AND APPROVED this 25thday of August , 2011.
TOM MARTIN, MAYOR
ATTEST:
Rebecca Garza, City Secre
APPROVED AS TO CONTENT
Lee Ann Dumbauld, City Manager
APPROVEDAS TO FORM:
Aitch
Wergwhite,
Reso.Property Donation -Judah 8.17.11
Resolution No. 2011—RO376
Exhibit "A"
Tract A, SUNCREST ADDITION, an Addition to the City of Lubbock, Lubbock County, Texas,
according to the Map, Plat, and/or Dedication Deed thereof recorded in Volume 7335, Page 289,
Official Real Property Records of Lubbock County, Texas.
Tract B -One (B-1), SUNCREST ADDITION, an Addition to the City of Lubbock, Lubbock
County, Texas, according to the Map, Plat, and/or Dedication Deed thereof, recorded in Volume
9469, Page 307, Official Public Records of Lubbock County, Texas, amended by instrument
recorded under Clerk's File No. 2007045091, Official Public Records of Lubbock County,
Texas.