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<br />.f <br />~,'; :.'li ' <br /> <br />... <br /> <br />~ <br /> <br />, <br />: i <br />; i. <br /> <br />, , <br />1\ <br /> <br />i; <br /> <br />, <br />; , <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 03-012 <br /> <br />: A RESOLUTION AUTHORIZING NEGOTIATION, EXECUTION AND DELIVERY <br />:: OF A PURCHASE AGREEMENT BETWEEN THE CITY OF NEW BRIGHTON, <br />:: MINNESOTA AND THE MENGELKOCH CO. FOR THE REAL PROPERTY <br />, I <br />ii LOCATED AT 11914th STREETNW, NEW BRIGHTON, MINNESOTA <br /> <br />; , <br />, <br /> <br />~ ; <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of New <br />! Brighton, Minnesota (the "City") as follows: <br /> <br />Section 1. Recitals. <br /> <br />" 1.01 The City has presented to The Mengelkoch Co. (the "Company") a term <br />: !sheet (the "Term Sheet"), attached as Schedule A, outlining the terms and <br />iconditions under which the City is willing to purchase certain real property located <br />,iat 119 14th Street NW, New Brighton Minnesota (the "Property"). <br /> <br />1.02 It has been proposed that the City enter into a Purchase Agreement for <br />: ipurchase of the Property if mutually-agreeable terms can be reached consistent <br />: ;with the Term Sheet. <br />: ; <br />, , <br /> <br />i i Section 2. Findings. <br /> <br />; 2.01 The Council hereby finds that acquisition of the Property promotes the <br />objectives as outlined in its Modified Development Program established pursuant <br />,to Minnesota Statutes, Sections 469.124 to 469.134, as amended. <br /> <br />i 2.02 The Council hereby finds that the Property is located in an area which <br />ithe Council intends to include in a new tax increment financing district pursuant to <br />: Minnesota Statutes, Sections 469.174 through 469.1799, inclusive, and Laws of <br />'Minnesota 1998, Chapter 389, Article 11, Section 24, all as amended and <br />Isupplemented from time to time. <br /> <br />, <br />; ; <br /> <br />.: Section 3. Authorizations. <br />~ ~ <br />