R-4759
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CA RLK:S~~:cam 6-10-76
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RESOLUTION NO. 4759(CCS)
(Clty Councll Ser1es)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT NOT TO SUE
AND RELEASE WITH FRASER'S MILLION
DOLLAR PIER COMPANY.
WHEREAS, the State of Californla has lnstltuted an
actlOn ln eminent domaln against Fraser's Milllon Dollar Pler
Company; and,
WHEREAS, Fraser's Mllllon Dollar Pler Company has
clalmed, ln said actlon, that the Clty of Santa Monica has
inversely condemned its property; and,
WHEREAS, both the Clty of Santa Monica and Fraser's
Mlllion Dollar Pier Company are desirous of settling such
litlgation and all future clalms In that regard.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
SANTA MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. That the Clty Manager be and lS hereby
authorized to execute an agreement not to sue and release on
behalf of the Clty of Santa Monlca wlth Fraser's Milllon Dollar
P1er Company.
SECTION 2. That the Clty Councll of the City of
Santa Monica does accept the sum of Thlrteen Thousand Eight
Hundred Seventy Nlne ($13,879.00} Dollars as full payment for
the assessment levied agalnst Fraser's Ml1lion Dollar Pler
Company for the Fraser Pler demol1tlon at lts meetlng of
March 23, 1976, fo1lowlng publ1C hearing.
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