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HomeMy WebLinkAboutCity Council Resolution 1976-115W W CITY OF PLYMOUTH • Pursuant -to due call and notice thereof, a special meeting of the City Council of the City of Plymouth, Minnesota, was held on t e 17th day of February 19 76 . The following membfrrs were present: M_a_�or Hilde. Councilmen Hunt. Neils. Seibold and Spaeth The following members were a sent: None Mayor Hilde introduced the following Resolution and moved s adoption: RESOLUTION NO. 76-115 AUTHORIZING THE ACQUISITION OF LAND FOR PUBLIC PURPOSES WHEREAS, study has been given to the proper site within the City of Plymouth for the future location of various public buildings including, but not limited to, a City Hall, United States Post Office and Public Library and, WHEREAS, as a result of such study it is the opinion of the City Council that the following described property is suitable and desirable for the location of such facilities, to -wit: . The Northeast Quarter (NE 1/4) of the Northwest Quarter (NW 1/4) of Section 21, Township 118, Range 22, except the Easterly 330 feet thereof, Hennepin County, Minnesota, and, WHEREAS, the City has negotiated with the owners of such property for its purchase by the City and, WHEREAS, the owners and the City have reached agreement on the terms and conditions of such purchase and, WHEREAS, The Council finds it necessary, proper and expedient in the interest of the convenience and general welfare of the citizens of the City of Plymouth to acquire such land, NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE OF PLYMOUTH AS FOLLOWS: 1. The Mayor and City Manager are hereby authorized and directed to enter into a Purchase Agreement with Plymouth Hills Company, a partnership, for the sale by said partnership to the City and the purchase by the City from such partnership for the sum of $307,360.00 of the following described property situated in Hennepin County, Minnesota, to -wit: The Northeast Quarter (NE 1/4) of the Northwest Quarter (NW 1/4) of Section 21, Township 118, Range 22, except the Easterly 330 feet thereof. 2. Said Purchase Agreement shall provide for the payment of the purchase price in the following manner: The motion for the adoption of the foregoing Resolution was duly seconded by Councilman Neils, and upon vote being taken thereon, the following voted in favor thereo : MMayou_r Hilde, Councilmen Hunt, Neils and Spaeth. The following vote etc against or staine Count man Seibold voted nay. Whereupon the Resolution was declared duly passed and adopted. Resolution No. 76-115 Page 2 • a. $7,500 in cash upon the execution of the Purchase Agreement. b. $41,250 in cash at time of closing which shall be on or before April 15, 1976. c. $258,610 by a contract for deed in such amount payable as follows: $26,250 on or before April 15, 1977 and $26,250 on or before the 15th day of April of each succeeding year until April 15, 1981 when the remaining amount then due shall be payable in full. Said interest shalt bear interest at the rate of 7% per annum and payment of said interest shall be added to the annual principal payments and shall be payable whenever such principal payments are made. Interest shall be computed on the unpaid principal balance to the date of payments on principal. d. The City shall be entitled to receive from the partnership a warranty deed to contiguous parcels of not less than 5 acres each upon payment by the City of $9,000 per acre. All payments made by the City other than the initial payments required to be made at time of closing shall qualify and be credited to the City for tk; purpose of obtaining conveyances of such 5 acre parcel.. e. The partnership shall be entitled to the right of first refusal on land now owned by the City if the City elects to sell and dispose of such land which is legally described follows, as to -wit: That part of the Southeast Quarter (SE 1/4) of the Northwest Quarter (NW 1/4) of Section 21, Township 118, Range 22, lying North of State Trunk Highway No. 55, except that part thereof, if any, included in Outlot "A" of Playhouse Industrial Park. The motion for the adoption of the foregoing Resolution was duly seconded by Councilman Neils, and upon vote being taken thereon, the following voted in favor thereo : MMayou_r Hilde, Councilmen Hunt, Neils and Spaeth. The following vote etc against or staine Count man Seibold voted nay. Whereupon the Resolution was declared duly passed and adopted.