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• <br />VILLAGE NO. 1; thence South 25 degrees 06 minutes 50 seconds West along said easterly <br />right -of -way line 725.18 feet to the northerly right -of -way line of said Town Center <br />Parkway; thence South 64 degrees 53 minutes 10 seconds East along said right -of -way line <br />52.94 feet to the point of beginning. <br />This real property (the "Property") contains 11.69 acres and is owned by the City of Lino <br />Lakes (the "City "). The city council of the City has determined that the Property is no longer <br />needed by the City for any public purpose. <br />II. <br />The city council of the City authorizes sale of the property to Legacy Holdings Lino <br />Lakes, LLC. The mayor and city clerk are hereby authorized and directed to execute a <br />purchase agreement and other documents as may be necessary in order to sell the <br />Property. Proceeds from the sale of the Property shall be used in accordance with the <br />requirements of the city charter. <br />This ordinance shall be in full force and effect from and after 30 days following its <br />passage and publication, in accordance with section 3.09 of the city charter. <br />ATTEST: <br />Ann Blair, City Clerk <br />John Bergeson, Mayor <br />