Title
RESOLUTION AUTHORIZING THE EXECUTION AND FILING OF AN AMENDED AND RESTATED DECLARATION OVER A PORTION OF SARGENT CREEK.
Body
CITY PROPOSAL:
WHEREAS, Resolution No. 18-0330 authorized certain stream restoration work by the South St. Louis Soil and Water Conservation District on a portion of Sargent Creek (the "Project");
WHEREAS, the Project was financed under a grant agreement between the State of Minnesota, Department of Natural Resources and South St. Louis Soil and Water Conservation District (contract #108140/3000092577) (the "Grant Agreement");
WHEREAS, a condition of the Grant Agreement required the filing of a restrictive covenant against the affected real property to prevent it from being sold, mortgaged, encumbered or otherwise disposed of without the approval of the Commissioner of Minnesota Management and Budget;
WHEREAS, Resolution No. 18-0331 authorized the proper city officials to execute the restrictive covenant required by the Grant Agreement and said document was recorded with the St. Louis County Recorder on May 17, 2018 as Document No. 1332965 (the "City Restrictive Covenant");
WHEREAS, the City Restrictive Covenant encumbered a 5/8ths interest in the affected real property where the Project occurred because the City only held a 5/8th interest at the time the City Restrictive Covenant was executed;
WHEREAS, the City has now acquired the remaining 3/8th interest in the affected real property from the State of Minnesota (the "State Property");
WHEREAS, the State Property was also encumbered with a similar restrictive covenant as the City Restrictive Covenant that prevented it from being sold, mortgaged, encumbered or otherwise disposed of without the approval of the Commissioner of Minnesota Management and Budget, which document was recorded with the St. Louis County Recorder on August 15, 2016 as Document No. 1291070 (the "State Restrictive Covenant"); and
WHEREAS, the Commission...
Click here for full text