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1st Reading: z , � -142 Publication: Gr '`it 2g-, - -- -3 <br /> 2' Reading: ec 1x,- Effective: 't J mow. ✓ -4I 2�23 <br /> CITY OF LINO LAKES <br /> ORDINANCE NO. 11 -23 <br /> ORDINANCE APPROVING SALE OF LAND TO TS MILLER CO. <br /> (RICE INDUSTRIES) <br /> The City Council of Lino Lakes ordains: <br /> Section 1. Property. The City is the fee owner of the Property legally described as: <br /> Exhibit A and depicted on Exhibit B <br /> Section 2. Findings. <br /> 1. The Property is excess property identified for sale to promote economic development. <br /> 2. The Property is guided for industrial use in the City's 2040 Comprehensive Plan and <br /> zoned GI, General Industrial. <br /> 3. The sale of the Property will result in development of the property and enhancement <br /> of the City's tax base. <br /> 4. The sale of the Property will result in the creation of new jobs in the City. <br /> 5. The Property is valued at $24,000, and the City is considering selling the Property for <br /> $1.00. <br /> Section 3. Authorization. <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 />