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1st Reading: Publication: <br />2nd Reading: Effective: <br /> <br />CITY OF LINO LAKES <br />ORDINANCE NO. 11 -23 <br /> <br />ORDINANCE APPROVING SALE OF LAND TO TS MILLER CO. <br />(RICE INDUSTRIES) <br /> <br />The City Council of Lino Lakes ordains: <br /> <br /> <br />Section 1. Property. The City is the fee owner of the Property legally described as: <br /> <br />Exhibit A and depicted on Exhibit B <br /> <br />Section 2. Findings. <br /> <br />1. The Property is excess property identified for sale to promote economic development. <br /> <br />2. The Property is guided for industrial use in the City’s 2040 Comprehensive Plan and <br />zoned GI, General Industrial. <br /> <br />3. The sale of the Property will result in development of the property and enhancement <br />of the City’s tax base. <br /> <br />4. The sale of the Property will result in the creation of new jobs in the City. <br /> <br />5. The Property is valued at $24,000, and the City is considering selling the Property for <br />$1.00. <br /> <br />Section 3. Authorization. <br /> <br /> The City Council approves the sale of the Property to TS Miller Co. (Rice Industries, Inc.) <br />The Mayor and the City Administrator are hereby authorized and directed to execute a purchase <br />agreement, deed and other documents as may be necessary in order to sell the Property. <br />Proceeds from the sale of the Property shall be used in accordance with the requirements of the <br />City Charter. <br />