08-28-2013 Council Agenda - Laserfiche WebLink

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4.) Entering into a purchase agreement within five (5) days of award of the property to the successful bidder by the City Council. The form of the purchase agreement is attached hereto. 5.) The property will be transferred to the successful bidder with by a limited warranty deed with no abstract. 6.) Bidders understand and acknowledge the costs of conveyance (closing fees, recording fees and property tax prorations from the date of closing to year end are in addition to the purchase price offered for this property. Furthermore, the successful bidder will also be responsible for all building permit fees and other typical costs associated with construction of a new home including but not limited to park charges, water availability charges, sewer availability charges (city and Metropolitan Council Environmental Services), water meter fees, building permit, electrical permit, mechanical permit, and water turn on fees. 7.) Bidders understand and acknowledge that a Bid Form, once submitted and opened by the City cannot be withdrawn without the consent of the City. 8.) A reserve price of S100,000 is the minimum bid that will be accepted. Bidders understand that the City of Little Canada also reserves the right to accept or reject any or all proposals, to disregard formality in connection therewith, or to accept any proposal, which in its opinion, is in the best interests of the City. 9.) Bids shall be mailed or delivered to the City Administrator's Office located at Little Canada City Hall, 515 Little Canada Road, East, Little Canada, Minnesota 55117 in a sealed envelope and plainly marked Bid for 3046 Lahore Road prior to 4:00 P.M. on Tuesday, August 27th, 2013. Bids will be opened at that time. A bid report will be presented to the City Council at the regular meeting on August 28 , 2013. A final decision on bid acceptance and award will be made no later than 30 days from the bid opening date. Bids are required to be honored until a closing on the property has taken place or unless the City rejects all bids. Any questions regarding this invitation to bid should be directed to Joel Hanson, City Administrator at 651 -766 -4040. 3