HomeMy WebLinkAboutResolution No. 17-01 EDALINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 17-01
RESOLUTION AUTHORIZING CONVEYANCE OF LOTS 12-14, BLOCK 2,
CAROLE'S ESTATES 2ND ADDITION TO THE CITY OF LINO LAKES,
MINNESOTA
BE IT RESOLVED By the Board of Commissioners ("Board") of the Lino Lakes Economic
Development Authority ("Authority") as follows:
Section 1. Recitals.
1.01. The Authority is the owner of certain real property legally described to wit:
Lots 12, 13, and 14, Block 2, Carole's Estates, 2nd Addition, Anoka County,
Minnesota
1.02. The Authority entered into an Installment Purchase Contract with the City of Lino
Lakes ("City"), dated June 28, 1990 and filed for record with Anoka County as Document No.
910329 on October 10, 1990.
1.03. Article IV of the agreement authorized the sale of said land to the City.
1.04. Section 4.4 of the agreement states that upon the City's prompt and full performance
of the agreement the EDA shall execute and deliver to the City a warranty deed conveying
marketable title.
1.05. The City has fulfilled the terms and conditions of the agreement.
Section 2. Authority Approval; Further Proceedings.
2.01. The President and Executive Director are hereby authorized to execute, on behalf of
the Authority, the warranty deed, and any documents referenced therein requiring execution by the
Authority or otherwise required to effectuate the transaction described in those documents.
2.03. Authority staff and consultants are authorized and directed to take all actions needed
to carry out the transactions describe in this Resolution.
Approved by the Board of Directors of the Lino Lakes Economic Development Authority,
this 10th day of April, 1017.
ATTEST:
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Secretary
2