Resolution 2011-007A - Laserfiche WebLink

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WHEREAS, the preliminary schedule contemplated by the parties for the extension of utilities, the purchase of the Property, the construction of the Facility and other activities contemplated by this Agreement (the "Project ") are set forth on the attached Exhibit B; and WHEREAS, subject to the terms set forth in this Joint Powers Agreement, the District and the City have a mutual understanding defining the public benefit of the construction, operation and use of said Facility on the Property (Exhibit C); and WHEREAS, Minnesota Statutes Section 471.59 authorizes two (2) or more governmental units by agreement of their governing bodies jointly and cooperatively to exercise any power common to the contacting parties or any similar powers, including those which are the same except for the territorial limits within which they are exercised; and, WHEREAS, cities are authorized to enter into development contracts as contemplated in Minnesota Statutes Section 462.358, Subd. 2(a); and, WHEREAS, the parties hereto desire to set forth the respective rights and obligations of the parties to this agreement. the Facility by March 4, 2011. B. After execution of this Agreement by both parties, and no later than March 15, 2011, the City will assign its option to purchase the Property at a price of $74,500 per acre, with a closing no later than May 31, 2011, subject to those contingencies as set forth in the option agreement. 2