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• <br />• <br />• <br />northwesterly of the southeasterly right of way line of said State Highway No. 49 and lying <br />southeasterly of a line parallel with and distant 75.00 feet southeasterly of the following <br />described line: <br />Beginning at a point on the west line of Section 25, Township 31, Range 23, distant <br />944.55 feet north of the southwest corner thereof; thence northeasterly at an angle of 48 <br />degrees 18 minutes 00 seconds from said west section line (measured from north to east) <br />247.30 feet; thence northeasterly deflecting to the right 09 degrees 52 minutes 00 seconds <br />a distance of 9120.00 feet and said line there terminating. <br />Subject to all right of access, being the right of ingress to and egress from the two above <br />described properties to County State Aid Highway No. 23, also known as Lake Drive. <br />WHEREAS, Ernest G. Rud, together with Marian Rud, Jason Rud and Karla Rud (collectively <br />the "Buyer ") has agreed to purchase the property from the Authority for an amount of $300,000; <br />and <br />WHEREAS, the Authority has agreed to divide the cost of burying power lines on the Property at <br />a cost that will not exceed $25,000 to the Authority; and <br />WHEREAS, the Authority has determined that the Property is no longer needed for any public <br />purpose. <br />NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development Authority <br />as follows: <br />Staff and City Attorney are hereby authorized and directed to enter into a purchase agreement with <br />the Buyer for the purchase of the property for the amount of $300,000. <br />The President, Executive Director, staff and City Attorney are hereby authorized and directed to <br />take any and all other steps necessary or convenient in order to accomplish the sale of the <br />Property. <br />September 27, 2004. <br />ATTEST: <br />Executive Director <br />President <br />