Title
RESOLUTION AUTHORIZING THE PURCHASE OF REAL PROPERTY IN THE FAIRMOUNT NEIGHBORHOOD FROM ALLETE, INC. IN THE AMOUNT OF $2,900, PLUS CLOSING COSTS IN AN AMOUNT UP TO $2,500, FOR A TOTAL AMOUNT NOT TO EXCEED $5,400.
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CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to enter into a purchase agreement, substantially the same as that on file with the office of the City Clerk, with Allete, Inc., a Minnesota corporation, authorizing the purchase of the real property legally described on Exhibit 1.
FURTHER RESOLVED, that the proper city officials are hereby authorized to disburse two thousand nine hundred dollars ($2,900) for the purchase price of the real property described on Exhibit 1, plus an additional amount up to $2,500 for closing costs in connection with the transaction, payable from Fund 411-035 -5510-Project PI MISCXX (Permanent Improvement, Capital Projects Account, Land).
FURTHER RESOLVED, that the proper city officials are hereby authorized to execute all documents necessary to effectuate the acquisition of the property described on Exhibit 1 from Allete, Inc.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize the purchase of certain real property, as depicted in red on the attached Exhibit 2, from Allete, Inc. ("Allete") under the terms and conditions described in the Purchase Agreement attached as Exhibit 3. The purchase price for the property is $2,900, plus an additional amount up to $3,000 for associated closing costs including but not limited to the title examination fee, title insurance premium, deed tax, property taxes, and recording fees.
Allete currently has a distribution line on the property to be purchased and will retain an easement across, over, and under the property in order to survey, construct, operate, maintain, use, rebuild, or remove electric power or communication lines or cables, consisting of poles, towers, structures, crossarm...
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