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HomeMy WebLinkAboutOrd 792 10/03/1961 lO/10/2/bl ORDINANCE NO. 1q ~ AN ORDINANCE DIRECTING Tllli SALE OF CERTAIN REAL ~ROPERTY OVn~ED BY THE VILLAGE AIID DIRECTING THE CONVEYANCE OF s~m TO THE AI'iIERICAN NATIONAL BANK AND TRUST COMPANY AS TRUSTEE UNDER A TRUST AGHEEMENT DArrED SE~TEMBER 15, 1952 AND KNOWN AS TRUST NO. 9341 WHEREAS, the Village of Mount Prospect did, on July 18, 1961, pass and approve Ordinance No. 768, which ordinance author- ized the sale of the following described real estate: That part of Block 1 in Busse and Wille's Resubdivision in the West half of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian, described as follows: Commencing at a point in the East line of said Block 1, 165.59 feet North of the Southeast corner of said Block 1, said Southeast corner of said Block 1 being the point of intersection of the East line of said Block with the Southwesterly line thereof; thence North along the East line of said Block 1, 149.98 feet, thence West along a line parallel to the North line of said Block 1 a distance of 15L~.50 feet to the point of beginning; thence continuing West along last described line, 97.44 feet to its intersection with a line parallel to and 141 feet Northeasterly of the Southwesterly line of said Block 1; thence Southeasterly along said line parallel to and 141 feet No~theasterly of the Southwesterly line of said Block 1 to a line drawn at right angles to the North line of said Block 1 through the point of beginning; thence North along said right angle line to the point of beginning, all in Cook County, Illinois; in accordance with Section 59-2, Chapter 24 of the Illinois Revised Statutes (1959 edition); and WHEREAS, in compliance with said ordinance and the sta- tutes of the State of Illinois made and provided, the Village Clerk did cause proper legal public notice advertising for compe- titive bids for said property to be given; and WEEREAS, said bids were duly opened at a regular meeting of the President and Board of Trustees of the Village of Mount prospect in compliance with said ordinance and statutes; and WHEP~AS, the highest and best bid received by said Vil- lage for said real estate at said time and in accordance with Ordi- nance No. 768 was that of Charles L. Schrager and Company in the amount of Five thousand ($5,00U) Dollars, which amount was in con- formity with the appraisal report of Raymond S. Wright, Village Appraiser; and WHEREAS, the said Charles L. Schrager and Company has indicated that, should its bid be accepted and the property awarded to it, the deed from the Village conveying said property should designate as grantee the American National Bank and Trust Company as Trustee under Trust Agreement dated September 15, 1952 and known as Trust No. 9341; and - vvrlEREAS, said property is adjacent to the Jewel Tea Com- pany's store along Northwest Highway and is so irregular in shape as to be of no use to the Village of to any other property owner unless used in conjunction with the Jewel Tea Company's store, and that therefore it is of no use whatsoever to the Village of Mount Prospect and no longer necessary appropriate or useful to the Vil- lage or its residents; NOW, THEREFORE, DE IT ORDAINED by the President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois: Section 1. That the bid price and bid of Charles L. Schrager and Company to purchase the real estate heretofore de- scribed in the amount of ~?5,OOO be and is hereby accepted and that said Charles L. Schrager and Company is awarded said property. Section 2. That the Village President and Clerk are hereby authorized to sign deed or deeds of conveyance and such other documents as are deemed necessary to transfer title to the above described property to the American National Bank and Trust Company as Trustee under Trust Agreement dated September 15, 1952 and known as Trust No. 9341, upon receipt of the full purchase price. Section 3. This ordinance shall be in full force and effect from and after its passage and approva~ according to law. AYES: d..Lf NA YS: A...-<-1.-r'---\.... ABSENT: ~~ PASSED this .... __-1..- day of October, 1961. APPROVI:GD this . =f da y of October, 1961. _~ <e-.~JJ.~ President Attest: j j,t , / r ( { L /,-!--._!:...t Village Clerk . i I/~/ ~ ,....