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04-10-2017 EDA Packet
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04-10-2017 EDA Packet
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EDA
EDA Document Type
EDA Packet
Meeting Date
04/10/2017
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<br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br /> <br />RESOLUTION NO. 17-01 <br /> <br /> RESOLUTION AUTHORIZING CONVEYANCE OF LOTS 12-14, BLOCK 2, <br />CAROLE’S ESTATES 2ND ADDITION TO THE CITY OF LINO LAKES, <br />MINNESOTA <br /> <br /> BE IT RESOLVED By the Board of Commissioners ("Board") of the Lino Lakes Economic <br />Development Authority ("Authority") as follows: <br /> <br /> Section 1. Recitals. <br /> <br />1.01. The Authority is the owner of certain real property legally described to wit: <br /> <br />Lots 12, 13, and 14, Block 2, Carole’s Estates, 2nd Addition, Anoka County, <br />Minnesota <br /> <br />1.02. The Authority entered into an Installment Purchase Contract with the City of Lino <br />Lakes (“City”), dated June 28, 1990 and filed for record with Anoka County as Document No. <br />910329 on October 10, 1990. <br /> <br /> 1.03. Article IV of the agreement authorized the sale of said land to the City. <br /> <br /> 1.04. Section 4.4 of the agreement states that upon the City’s prompt and full performance <br />of the agreement the EDA shall execute and deliver to the City a warranty deed conveying <br />marketable title. <br /> <br /> 1.05. The City has fulfilled the terms and conditions of the agreement. <br /> <br /> Section 2. Authority Approval; Further Proceedings. <br /> <br /> 2.01. The President and Executive Director are hereby authorized to execute, on behalf of <br />the Authority, the warranty deed, and any documents referenced therein requiring execution by the <br />Authority or otherwise required to effectuate the transaction described in those documents. <br /> <br /> 2.03. Authority staff and consultants are authorized and directed to take all actions needed <br />to carry out the transactions describe in this Resolution. <br /> <br />
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