22-2490ORDINANCE NO. 22-2490
AN ORDINANCE OF THE CITY OF DENTON AUTHORIZING THE EXECUTION OF ACONTRACT OF SALE BETWEEN THE CITY OF DENTON, AS BUYER, AND MARKHICKS INVESTMENTS, LLC. (REFERRED TO HEREIN AS “SELLER”), FOR THEPURCHASE OF APPROXIMATELY 40 ACRES OF LAND FOR USE AS A NEW SOLIDWASTE TRANSFER STATION, BEING SITUATED IN THE M. H. DAVIS SURVEY,ABSTRACT NO. 377, CITY OF DENTON, DENTON COUNTY, TEXAS, LOCATED ONTOM COLE ROAD. FOR THE PURCHASE PRICE OF FOUR MILLION THREE HUNDRED
FIFTY-SD( THOUSAND DOLLARS AND NO/100 ($4,356,000.00); AUTHORIZING THEEXPENDITURE OF FUNDS THEREFOR; PROVIDING FOR SEVERABILITY; ANDPROVIDING AN EFFECTIVE DATE.
WHEREAS, the above-captioned tract, containing approximately 40 acres of land,
located on Tom Cole Road, and being more particularly described in Exhibit “A“ to the Contract
of Sale, attached hereto and made part hereof for all purposes, (the “Property”) may be put to
public use and benefit; and
WHEREAS, Seller has agreed to sell the Property to the City of Denton (the “City”) for
the total purchase price of Four Million Three Hundred Fifty-Six Thousand Dollars and no/100
($4,356,000.00); and
WHEREAS, the purchase of approximately 40 acres of land is intended for the
development and construction of a new Solid Waste Transfer Station; provided however, to the
extent fee title to the Property is acquired, such title and Property shall not be limited to or
otherwise deemed restricted to the use herein provided.
WHEREAS, the City Council hereby finds that the Contract of Sale between the City andSeller serves municipal and public use and is in the public interest; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The findings set forth in the preamble of this Ordinance are incorporated by
reference into the body of this Ordinance as if fully set forth herein.
SECTION 2. The City Manager, or their designee, is authorized to: (a) execute a Contract
of Sale between the City of Denton, as Buyer and Mark Hicks Investments, LLC., as Seller, for the
purchase price of Four Million Three Hundred Fifty-Six Thousand Dollars and no/100
($4,356,000.00), and under the terms and conditions set forth in the attached Contract of Sale, and
(b) execute any other documents necessary for closing of the transaction contemplated by theContract.
SECTION 3. The City Manager, or their designee, is further authorized to carry out all
duties and obligations as set forth in the Agreement.
SECTION 4. That to the extent the Property is being purchased wholly or partly with
bond proceeds City has obtained an independent appraisal of the Property’s market value.
SECTION 5. If any section, article, paragraph, sentence, phrase, clause, or word in thisordinance, or application thereof to any persons or circumstances, is held invalid or
unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity ofthe remaining portions of this ordinance; the City Council declares that it would have ordained
such remaining portion despite such invalidity, and such remaining portion shall remain in fullforce and effect.
SECTION 6. This ordinance shall become effective immediately upon its passage and
approval.
s e c o n d e: hEy rE= Z =p Pal:: i sM::n c e w a s m : Ie Trd i n a 1 c eqHathd approve daEthe following vote lk -L] :
Aye Nay Abstain Absent
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Mayor Gerard HudsDeth:
Vicki Byrd, District 1 :
Brian Beck. District 2:
Jesse Davis, District 3 :
VACANT, District 4:
Brandon Chase McGee, At Large Place 5 :
Chris Watts, At Large Place 6:
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PASSED AND APPROVED this the JL day of QM ' 2022.
MFKRrD'hH.MAYOR
ATTEST
ROSA RIOS, CITY SECRETARY
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APPROVED AS TO LEGAL FORM:MACK REINWAND, CITY ATTORNEY
BY: "M”"“- “ B%kn
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