Ord 03-444ORDINANCE NO. 03-444
AN ORDINANCE OF THE CITY OF FEDERAL WAY,
WASHINGTON, AUTHORIZING THE ACQUISITION OF THE
PARAGON BUILDING AND VACANT LOTS ON S. 333rd
STREET, AND THE EXECUTION OF RELATED
DOCUMENTS.
WHEREAS, the City Council of the City of Federal Way authorized the City
Manager to negotiate and execute Purchase and Sale Agreements for the Paragon
Building and for adjacent vacant lots on S. 333rd Street; and
WHEREAS, the City of Federal Way, Washington ("City") has determined that it
is advisable, after the conclusion of the due diligence period, to acquire the Paragon
building and adjacent vacant lots for use as Municipal Facilities; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF FEDERAL WAY, WASHINGTON
DOES HEREBY ORDINANCE AS FOLLOWS:
Section 1. Approval of Documents. The City Council hereby approves the
following documents in connection with the acquisition of the Paragon building and
vacant lots on S. 333rd Street, substantially in the form on file with the City Clerk: (1) the
Quadrant Corporation Real Estate Purchase and Sale Agreement for the vacant lots on S.
333rd Street; (2) the Real Estate Purchase Agreement for the Paragon building; and (3)
Deed of Trust and accompanying security documents.
Section 2. Authorization of Documents. The City Manager, the Finance
Director, and each of the other appropriate officers, agents and representatives of the City
are each hereby authorized and directed to take such steps, to do such other acts and
things, and to execute such letters, certificates, agreements, papers, financing statements,
Ordinance No. 03-444., Page 1 CO~
assignments or instruments as in their judgment may be necessary, appropriate or
desirable in order to carry out the terms and provisions of, and complete the transactions
contemplated by this ordinance.
Section 3. Severabilit¥. The provisions of this ordinance are declared
separate and severable. The invalidity of any clause, sentence, paragraph subdivision,
section, or portion of this ordinance or the invalidity of the application thereof to any
person or circumstance, shall not affect the validity of the remainder of the ordinance, or
the validity of its application to other persons or circumstances.
Section 4. Ratification. Any act consistent with the authority and prior to the
effective date of this ordinance is hereby ratified and affirmed.
Section 5. Effective Date. This ordinance shall be effective five days after its
passage, approval and publication as provided by law.
PASSED by the City Council of the City of Federal Way, Washington at a special
meeting thereof, held this /~aR~lay of June, 2003.
CITY OF FEDERAL WAY
MAYOR, JEANNE BURBID~E
ELT
ERK, N. CHRISTINE GREEN, CMC
Ordinance No. 03-444 ., Page 2
APPROVED AS TO FORM:
CITY ATTORNEY, PATRICIA A. RICHARDSON
FILED WITH THE CITY CLERK: 06/02/03
PASSED BY THE COUNCIL: 06/11/03
PUBLISHED: 6/21/03
EFFECTIVE DATE: 6/26/03
ORDINANCE NO: 03-444
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Ordinance No. 03-444 , Page 3