Laserfiche WebLink
CITY OF GEM LAKE <br />GEM LAKE CITY COUNCIL <br />RESOLUTION NO.2017 - 04 <br />A RESO=DN APPROVING PURCHASE OF REAL PROPERTY. <br />WHEREAS, Hansen Investments; LLC is the owner of an 18 acre tract of land located <br />within the boundaries of the City of Gem Lake, and <br />WHEREAS, Hansen Investments, LLC has offered to sell the 18 acre tract to the City; <br />and <br />WHEREAS., the City feels it would bean the best interest of .its citizens. to purchase the: <br />Hansen parcel for the purpose of controlling and guiding the future use of the parcel. <br />NOW, THEREFORE, BE 1T RESOLVED, by the. council of the City Of Gem Lake that <br />the City agrees to purchase the South 10.85 acres of the Hansen parcel identified by its Property <br />Tax Identification No. 27.30.22.33.0005 for the sum of $00,500.06 to be paid as follows: <br />1. $9,999.00 as earnest money; <br />2. $290,001.00 cash payment at time of closing; <br />{ 3. The balance of the: purchase price; being $359,500.00 to be paid by executing a <br />contract for deed with interest at the rate of 3% per annum. Payable in semi- <br />annual installments of $14,080.00 commencing February 1, 2018 and continuing <br />every six .{6) monihs thereafter until August 1, 2022 at which time the entire <br />unpaid. principal balance, together with accrued interest, shall be paid in full. <br />That the Mayor and City Clerk are hereby authorized to. execute the Purchase Agreement <br />in the form now on file with the City. <br />ADOPTED by the Gem Lake City Council this _ day of Juice; 201.7. <br />Robert uzpen, Mayor <br />ATTESTED; <br />William Short, City Clerk <br />