It would seem so but if they turn this down, the BOG doesn't have to agree with whatever deal they have cooking. Besides, money is money and why shouldn't they be willing to skulk out of Sacramento with their bills paid?
If the BOG says no, they can't still sell to Seattle (without a major lawsuit - hmm, could this be what the $30 million is for?). I doubt they can be forced to sell at all, but they are only in this position because they are running out of money and need to sell. They aren't holding on for another year now. I think they would take an equivalent to slightly better offer and hold their noses while doing so.