R-2017-4149 - 1/26/2017RESOLUTION NO. R-2017-4149
WHEREAS, by Resolution No. R-2016-4013, the Round Rock City Council previously
authorized the Mayor to execute a Master Development Agreement ("Master Development
Agreement") with the Round Rock Transportation and Economic Development Corporation (the "TED
Corp."), KR Acquisitions, LLC, a Delaware limited liability company (the "Developer"), and KR CC,
Inc., a Delaware corporation (the "Tenant"), and
WHEREAS, pursuant to the Master Development Agreement, the City agreed to accept
assignment of certain real estate contracts for property to be used for the Kalahari Resort Hotel and
Convention Center, and
WHEREAS, Tenant is the assignee of that one certain Commercial Contract — Unimproved
Properties with David and Susan Boyles (the "Boyles Tract Contract") consisting of approximately 1.5
acres of land as more fully described in the Boyles Tract Contract, and
WHEREAS, pursuant to that one certain Assignment and Assumption and Lease -Back
Agreement (the "Assumption Agreement") approved by the City Council in Resolution No. R-2017-4147,
the Tenant has assigned said Boyles Tract Contract to the City and the City has agreed to accept such
assignment, and
WHEREAS, pursuant to the terms of the Assumption Agreement, the City Council wishes to
approve and authorize the purchase of the Boyles Tract, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor, City Manager, and/or the City Attorney are hereby authorized and directed to
execute on behalf of the City any and all standard closing documents appropriate and necessary for the
purchase of the Boyles Tract.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
0112.1704;00370860
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 26th day of January, 2017.
ATTEST:
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jLA SAR-A L. WHITE, City Clerk
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ALAN MCGRAW, Mayor
City of Round Rock, Texas