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Ordinance No. 11,406ORDINANCE NO. 11406 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, 'TEXAS, AUTHORIZING THE PURCHASE OF PROPERTY FOR AN ECONOMIC DEVELOPMENT PROJECT: AUTHORIZING PAYMENT BY THE CITY OF BAYTOWN IN AN AMOUNT OF ONE HUNDRED THOUSAND AND NO /100 DOLLARS ($100.000.00): MAKING OTHER PROVISIONS RELATED THERETO: AND PROVIDING FOR THE EFFECTIVE DATE THEREOF, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN. TEXAS: Section 1: That the City Council of the City of Baytown. Texas, hereby authorizes the purchase of property for a development project. Section 2: That the City Council of the City of Baytown authorizes payment in an amount of ONE HUNDRED THOUSAND AND NO /100 DOLLARS ($100,000.00) for purchase of the property described in Section I hereof. Section 3: That the City Manager of the City of Baytown is hereby authorized and directed to execute all documents necessary to consummate the purchase of the property described in Section I hereof. Section 4: That the City Manager is hereby granted general authority to approve a decrease or an increase in costs by TWENTY -FIVE THOUSAND AND NO /100 DOLLARS ($25,000.00) or less. provided that the amount authorized in Section 2 hereof may not be increased by more than twenty-five percent (25 %). Section 5: This ordinance shall take effect immediately City Council of the City of Baytown. INTRODUCED, READ and PASSED by the affirmative Baytown this the 22nd day of July, 2010. '_? APPROVED AS TO FORM: NACIO RAMIREZ. SR., i I Attorney S and after its passage by the of the City Council of the City of ONCARLOS, Mayor R,KaretMilestcity CouncillOrdinan�es'2010Vu1y 22' AuthonzmgPurchaseolPropeny dEconomicDeeelopmenlProject .doe