HomeMy WebLinkAbout2013-136 Approve Purchase of 29 1st AvenueState of Minnesota
County of Rice
RESOLUTION NO. 2013 -136
CITY OF FARIBAULT, MINNESOTA
RESOLUTION AUTHORIZING PURCHASE OF PROPERTY
WHEREAS, WELLS FARGO BANK, N.A., a national banldng association ( "Seller ") is an
owner of real estate located at 29 SW ls1 Avenue, Faribault, Rice County, Minnesota, and which is
legally described in the Agreement as hereinafter defined (the "Property"); and
WHEREAS, the City of Faribault (the "City ") desires to purchase of the Property from the
Seller; and
WHEREAS, the City has followed applicable statutory provisions and the City finds that the
purchase of the Property will fulfill the objectives, goals and mission of the City; and
WHEREAS, the City has caused to be prepared a purchase agreement (the "Agreement ")
providing for the terms of the conveyance of the Property from Seller to the City, with such
Agreement being as set forth in Exhibit A and incorporated into and made a part of this Resolution.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FARIBAULT, AS FOLLOWS;
1. The recitals set forth in this Resolution are incorporated into and made a part of this
Resolution.
2. The purchase of the Property by the City is hereby approved in the amount of
$35,000.00 pursuant to the terms of the Agreement, which is also approved in substantially the form
presented to the City Council on this date, subject to modifications that do not materially alter the
City's rights and obligations under the Agreement and that are approved by the City's Mayor and
City Administrator, which approvals shall be conclusively evidenced by execution of the
Agreement.
3. The Mayor and the City Administrator of the City are hereby authorized and
directed to execute all appropriate documents, including but not limited to the Agreement, to
effectuate the transaction contemplated by this Resolution.
4. The Mayor, City Administrator,
directed to take any and all additional steps
accomplish the intent of this Resolution.
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staff and consultants are hereby authorized and
and actions necessary or convenient in order to
ATTEST;
Brian J.
2
429084v1 SJR FA105 -248