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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION 13 -EDA -281 <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION AUTHORIZING PURCHASE OF PROPERTY <br />WHEREAS, a limited liability <br />company/corporation ("Seller") is an owner of real estate located at 5420 Adams Street, Mounds <br />View, Ramsey County, Minnesota, and which is legally described in the Agreement as hereinafter <br />define (the "Property"); and <br />WHEREAS, the Mounds View Economic Development Authority, a public body <br />corporate and politic (the "EDA") desires to purchase of the Property from the Seller; and <br />WHEREAS, the EDA has followed applicable statutory provisions and the EDA finds that <br />the purchase of the Property will fulfill the objectives, goals and mission of the EDA; and <br />WHEREAS, the EDA has caused to be prepared an offer and purchase agreement (the <br />"Agreement") providing for the terms of the conveyance of the Property from Seller to the EDA, <br />with such Agreement being as set forth in Exhibit A and incorporated into and made a part of this <br />Resolution. <br />NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF <br />THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY, AS FOLLOWS: <br />The recitals set forth in this Resolution are incorporated into and made a part of this <br />Resolution. <br />2. The purchase of the Property by the EDA is hereby approved pursuant to the terms <br />of the Agreement, which is also approved in substantially the form presented to the Commission on <br />this date, subject to modifications that do not materially alter the EDA's rights and obligations under <br />the Agreement and that are approved by the Authority's President and Executive Director, which <br />approvals shall be conclusively evidenced by execution of the Agreement. <br />3. The President and Executive Director of the EDA are hereby authorized and directed <br />to execute all appropriate documents, including but not limited to the Agreement, to effectuate the <br />transaction contemplated by this Resolution. <br />4. The President and Executive Director of the EDA, staff and consultants are hereby <br />authorized and directed to take any and all additional steps and actions necessary or convenient in <br />order to accomplish the intent of this Resolution. <br />430674A SJRMU205-44 <br />