Resolutions - Jersey City

City Clerk File No.Agenda No. Res. 09-170Approved 1O.Z.42Pg.#~TITLE:WHEREAS, the City by its Division of Community Development has indicated that the balance due onthe City's mortgage is approximately $29,000; andWHEREAS, the Division has reviewed the title reports and appraisal reports suboutled for 1995 John F.Kennedy Blvd. and 851 Pavonia Avenue and has determined that the appraised value for the properties($1,300,000 and $2,100,000, respectively) has suffcient value to support the City's mortgage; andWHEREAS, the discharge of the City's collateral mortgage affecting the property 4529 BergenlineAvenue, Union City wil not undermne the City's investment.NOW THEREFORE, BE ITRESOLVED, by the Municipal Council ofthe City of Jersey City that:1.) The Mayor or Business Adounistrator is hereby authorized to execute a Mortgage Dischage ofthe City of Jersey City's collateral mortgage and any other documents appropriate or necessary toeffectuate the purpses of the within resolution, for the property 4529 Bergenline Avenue, UnionCity, New Jersey.2.) All documents shall be subject to approval by the Corporation Counsel.IW9-9-09APPROVED:~'APPROVE~--'.'~~-APPROVED AS TO LEGAL FORM._._~l_ ..(~:()l.,:: :.~-.:C;;-"_.~'~:::":"" . ~:~:-'~"1~...¡ret~ ::'"J~'-"~ . -;'t~;.~~i!:;.. ~~~\PPRÚ'VLL~COUNGILPERSONSOnOLANOKENNYLOPEZ,/ Indicates Vote..,...~_;~l.,.,:_-,..:_'.,..,~r_...,'~,-.',:_~=.~:ii,',.,'.--...~,;.._~l,.,¡...~i.._iT",.~~~__ _~__ __... ___ _ ~ i'' _.._.L...... .__-lL~~:...:~t~;~__~...~. Adopted at a meetin!;: 'Ji ,í'~"" ",'UfUCii.":¡ ;:X";,.~. t ..Marano Vega, Jr., President of Council..--..~~/,;..Robert Byre, Cit ClerkAYE NAY N.V.N.V.-Not Vo~ng (Abstain)