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RESOLUTION NO. 08-040 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON RESOLUTION AUTHORIZING AND DIRECTING THE SALE OF CLASS 7 AGGREGATE WHEREAS, the City owned approximately 143,000 cubic yards of surplus Class 7 aggregate located at the old Midwest Asphalt site at 1400 Old Highway 8; and WHEREAS, the City advertised and received bids for the purchase of the aggregate on May 10, 2007, and continuing thereafter, for sale at a minimum price of $7.00 per cubic yard; and WHEREAS, from May 10, 2007 to the present the City has sold less than 50,000 cubic yards of aggregate; and WHEREAS, the price of $7.00 per cubic yard is a reasonable price for the aggregate; and WHEREAS, because less than 50,000 cubic yards have been sold at a price of $7.00 per cubic yard since May 10, 2007, the Council has determined that it is estimated that any future sale will be for less than $10,000; and WHEREAS, because less than 50,000 cubic yards have been sold at a price of $7.00 per cubic yard since May 10, 2007, it is not reasonably possible to secure two or more quotations for the sale of aggregate; and WHEREAS, it is in the best interest of the city to sell the aggregate in a reasonable period of time, which would not be possible at a price in excess of $7.00 per cubic yard. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota, that the City Manager is authorized and directed to sell the remaining aggregate in the open market at a fixed price of $7.00 per cubic yard (or the equivalent price of $5.00 per ton) on a "first come first served" basis, to be picked up by, and at the expense of purchaser, until all aggregate is sold. Adopted this of 8th day of April, 2008. ATTEST:,-=-7-- d00004 TTESTS=- Daniel A. M-�_ig Direcor of Finance acrd Support Services i (SEAL) Steve Larson, Mayor Dean R. Lotter,