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ORDINANCE N0.760 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />AN ORDINANCE AUTHORIZING DISPOSAL BY SALE <br />OF REAL PROPERTY OWNED BY THE CITY OF MOUNDS VIEW <br />TO THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />THE CITY OF MOUNDS VIEW ORDAINS: <br />SECTION 1. Appendix D of the Mounds View Municipal Code entitled "Special Ordinances" is <br />hereby amended to include reference to the following Ordinance No. 760. <br />Subdivision 1. The City of Mounds View owns parcels of land in Ramsey County, <br />Minnesota, the legal description of the property being as follows: <br />See attached Exhibit A. <br />Subdivision 2. Medtronic, Inc. intends to develop and construct an 820,000 square foot <br />office complex pursuant to the terms of a Purchase Agreement and Contract for Private <br />Development between the City, the Mounds View Economic Development Authority and <br />• Medtronic, Inc. Pursuant to the terms of the Purchase Agreement and Contractor for Private <br />Development between the City, the Authority and Medtronic, the City desires to convey the <br />property to allow development thereof. The City Council has determined that conveyance of the <br />City property will further the public interest. <br />Subdivision 3. As provided by Section 12.05 of the City Charter, the City Council <br />authorizes conveyance of the above-referenced property to the Mounds View Economic <br />Development Authority pursuant to a quit claim deed substantially in the form set forth in Exhibit B <br />and pursuant to the terms of the Purchase Agreement and Contract for Private Development <br />between the City, the Authority and Medtronic, Inc. <br />SECTION 2, This ordinance is effective thirty days after its publication. <br />Read by the City Council of the City of Mounds View this 27th day of June, 2005. <br />Read and passed by the City Council of the City of Mounds View on this 11th day of July, <br />2005. <br />• <br />1 <br />