Resolution No. 17-01 EDA - Laserfiche WebLink

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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 17-01 RESOLUTION AUTHORIZING CONVEYANCE OF LOTS 12-14, BLOCK 2, CAROLE'S ESTATES 2ND ADDITION TO THE CITY OF LINO LAKES, MINNESOTA BE IT RESOLVED By the Board of Commissioners ("Board") of the Lino Lakes Economic Development Authority ("Authority") as follows: Section 1. Recitals. 1.01. The Authority is the owner of certain real property legally described to wit: Lots 12, 13, and 14, Block 2, Carole's Estates, 2nd Addition, Anoka County, Minnesota 1.02. The Authority entered into an Installment Purchase Contract with the City of Lino Lakes ("City"), dated June 28, 1990 and filed for record with Anoka County as Document No. 910329 on October 10, 1990. 1.03. Article IV of the agreement authorized the sale of said land to the City. 1.04. Section 4.4 of the agreement states that upon the City's prompt and full performance of the agreement the EDA shall execute and deliver to the City a warranty deed conveying marketable title. 1.05. The City has fulfilled the terms and conditions of the agreement. Section 2. Authority Approval; Further Proceedings. 2.01. The President and Executive Director are hereby authorized to execute, on behalf of the Authority, the warranty deed, and any documents referenced therein requiring execution by the Authority or otherwise required to effectuate the transaction described in those documents. 2.03. Authority staff and consultants are authorized and directed to take all actions needed to carry out the transactions describe in this Resolution.