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<br />~J <br /> <br />!1"'~. <br /> <br />..~- <br /> <br />':"' <br /> <br />RESOLUTION NO. ~38 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION APPROVING AND AUTHORIZING <br />THE PURCHASE OF LAND <br />(PIPKORN-HYDROSTREAM PROPERTY) <br /> <br />1. Recitals <br /> <br />(a) Pursuant to and in furtherance of the powers granted to it by <br />Minnesota Statutes Sections 469.124 through 469.134 (the "Act"), the <br />City has heretofore created and established its development project <br />known as Development District No. ; ("Development District") in <br />an area (the "Proj ect Area") locatedIn the City. <br /> <br />(b) Pursuant to the Act the City has approved a Development Program for <br />the Development District which contains as its stated objective the <br />acquisition and subsequent sale or lease of lands within the Devel- <br />opment District to developers for development. <br /> <br />(c) In accordance with the stated objective of the Development Program, <br />the city staff ha,s negotiated a proposed purchase agreement ("Agree- <br />ment") involving the purchase of a tract of land fully described in <br />the Agreement lying withiri the Development District and has pre- <br />sented the Agreement to the City Council for its consideration. <br /> <br />2. The City Council'hereby approves the Agreement in substantially the form <br />presented' and hereby authorizes the Mayor and Acting City Manager to <br />execute the same on behalf of the City with such additions or modifica- <br />tions as those officers may deem necessary, as evidenced by their execu- <br />tion thereof, provided, however, that the authority hereby granted shall <br />not be deemed effective until the date upon which the City has obtained <br />i) a fully executed contract for private development calling for develop- <br />ment on the lands described in the Agreement, and ii) the City has <br />received the letter of credit requi,red of the developer as provided for <br />in the contract for private development. <br /> <br />3. Upon execution of the Agreement as herein authorized, the officers and <br />employees of the City are hereby authorized and directed to take all <br />actions as are necessary to satisfy the City's obligations under the <br />Agreement. <br /> <br />Adopted by the New Brighton City Council this li.!..h day of March <br />l~~J_,-___, <br /> <br />....." .. <br /> <br />/ <br /> <br /> <br />A~TEST":.~:'~.- -~ ~-- <br />\ - - --. ~- -- ->~-- <br />..}~>::"" <br />l'I~~g:n <br />Finance Director/City Clerk <br />NBRES1:0793RE12.E14 <br /> <br />~QA~) <br /> <br />Acting City Manager <br />