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Section 1. It is declared that it is in the best interest of the City to sell the real property <br /> described in Exhibits A and B (the Property). <br /> Section 2. The Mayor or his designee(s) are authorized to negotiate the terms of the sale <br /> of the Property. <br /> Section 3. Pursuant to Section 4 of Ordinance No. 2936-06, the Property shall not be <br /> sold for less than 90% of the Property's appraised value. <br /> Section 4. Resolution No. 5554, declaring surplus certain real estate parcels located <br /> within the corporate limits of the City of Everett in the vicinity East of I-5, south 36th <br /> Street (generally known as the "Landfill and Simpson sites") and authorizing the sale <br /> thereof, is hereby repealed. <br /> Section 5. The City hereby exercises its right to reject any and all proposals or bids <br /> relating to the Riverfront or the Property submitted prior to the adoption of this <br /> Resolution. <br /> i/,�I � <br /> COUNCIL MEMBER INTRODUCING RESOLUTION <br /> PASSED AND APPROVED THIS 15 DAY OF <br /> November , 2006 <br /> A # 0. i,i-- <br /> B' NDA S CIPH R, <br /> C., CIL P . SIDENT <br /> 2 <br />