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Member Kuether introduced the following resolution and moved its adoption: <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. f1- D I <br />WHEREAS, on or about July 3, 1996, the Lino Lakes Economic Development Authority <br />(the "EDA") and Rush Enterprises, Inc. ("Rush") entered into that certain Contract for Private <br />Development by and between Lino Lakes Economic Development Authority and Rush Enterprises <br />Inc. (the "Development Agreement"); and <br />WHEREAS, the Development Agreement required the EDA to transfer certain property <br />legally described on Exhibit A attached hereto (the "Property") to Rush; and <br />WHEREAS, the Development Agreement and other documents contemplated transfer of <br />the Property after completion of certain improvements (the "Minimum Improvements") by Rush <br />to Harry L. Chapple and Karen H. Chapple, husband and wife (the "Chapples"); and <br />WHEREAS, the Minimum Improvements have been completed and the EDA has issued <br />a certificate of completion for same; and <br />WHEREAS, Minnesota Statutes, section 469.105, subd. 5 requires that any transfer of the <br />Property within one year of its sale to Rush be approved by the EDA; and <br />WHEREAS, the Development Agreement states that such approval shall not be <br />unreasonably withheld; and <br />WHEREAS, there exists no reason known to the EDA to withhold approval of the transfer <br />of the Property to the Chapples. <br />NOW, THEREFORE, BE IT RESOLVED By the Lino Lakes Economic Development <br />Authority as follows: <br />1. Transfer of the Property by Rush to the Chapples is hereby approved. <br />2. EDA staff and consultants are directed and authorized to take any additional steps <br />necessary or convenient in order to effect this transfer. <br />RHB115856 <br />LN140-45 <br />