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<br />------------------------- ---- -- ----------------- -- --~-----~-~----- - - <br /> <br /> <br />tervi{{e <br />'Esta6{isfiet{ 1857 <br /> <br />1880 :Main Street . Centerviffe,9v1!N 55038 <br />(651) 429-3232 . P~(651) 429-8629 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF CENTERVILLE <br /> <br />RESOLUTION #007..0_ <br />A RESOLUTION AUTHORIZING PURCHASE OF PROPERTY AND PROVIDING <br />FOR A LOAN BE1WEEN FUNDS. <br /> <br />WHEREAS, the City Council bas considered various options to meet the facility requirements <br />of its Public Works Department, and <br /> <br />WHEREAS, the cOuncil has been granted an option to purchase ~ and building at 2085 <br />Cedar Street for a cost of $1,400,000, that can satisfY those requirements, and <br /> <br />WHEREAS, the CUlTent Public Works site could meet those needs, but it would require removal <br />and replacement of existing buildings that would cost nearly as much as the Cedar Street option, <br />and <br /> <br />WHEREAS, the current Public Works site is better suited to a retail or business use that can <br />benefit from the prominent location and the community would be better served to make the <br />existing site available for such use,' and <br /> <br />WHEREAS, the Council has determined that it is in the best interests of the City to purchase of <br />the property at 2085 Cedar Street, and <br /> <br />NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCD., OF CENTERVILLE, <br />MINNESOTA: <br /> <br />1) The Mayor and .Administrator are hereby authorized to enter into the attached agreement for <br />purchase of the property at 2085 Cedar Street. <br /> <br />2) Funds for the purchase shall be provided as follows: <br /> <br />a) $800,000 from the General Fund, $413,000 of which shall be provided from the General <br />Fund capital improvement reserve. <br />b) $200,000 from the Water Utility Fund. <br />c) $400,000 from the Sewer Utility Fund. <br /> <br />3) The City Council hereby authorizes a short-term loan to the General Fund from the Sanitary <br />Sewer fund in the amount of $400,000 which shall be repaid upon sale of the existing public <br /> <br />~ <br />