2009_0323_ Packet_Exec - Laserfiche WebLink

Home

Attachment A EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 9th day of March, 2009 at 6:00 p.m. The following members were present: and , and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION RESOLUTION DECLARING EVENT OF DEFAULT AND AUTHORIZING LEGAL COUNSEL TO INITIATE LITIGATION WHEREAS, on March 24, 1997, the City of Roseville entered into a contract ("Agreement") with Ryan Companies; WHEREAS, by the terms of that Agreement, the City of Roseville made certain loans to Ryan Companies; WHEREAS, by the terms of that Agreement, Ryan Companies was to repay any portion of those loans that were outstanding on December 31, 2007; WHEREAS, the City of Roseville has calculated that, as of December 31, 2007, Ryan Companies had not repaid the outstanding amount of $93,574; WHEREAS, since December 31, 2007, the City of Roseville and its legal counsel have made several written requests to Ryan Companies for the outstanding $93,574; WHEREAS, on July 16, 2008, legal counsel for the City of Roseville provided Ryan Companies with written notice, pursuant to Section 8.2 of the Agreement, that Ryan Companies had ten (10) days in which to repay the $93,754; and WHEREAS, Ryan Companies has not yet repaid the $93,574. NOW, THEREFORE, SE IT RESOLVED by the Council of the City of Roseville, Minnesota, as follows: 1. The City hereby declares Ryan Companies to be in default of its contractual obligations under the March 24, 1997 Agreement. 2. The City hereby invokes its rights pursuant to Section 8.2 of the Agreement. Page 3 of 4