HomeMy WebLinkAboutResolution 002-2006 RESOLUTION NO. 02-06
AMENDED RESOLUTION AUTHORIZING THE TRANSFER OF REAL PROPERTY
TO BROOKINGS ECONOMIC DEVELOPMENT CORPORATION, INC. FOR
ECONOMIC DEVELOPMENT PURPOSES
BE IT RESOLVED by the City Council of the City of Brookings, South Dakota.as follows:
WHEREAS, the Brookings Economic Development Corporation, Inc. desires to purchase
approximately Twenty-two (22) acres of real property located in S W '/4 of the SE '/4 of Section
30, Township 110N, Range 49W in the City of Brookings, South Dakota, for a price of$10,000
per acre, and approximately five (5) acres of real property subject to surface and ground water
saturation located on the eastern side of the above-described property at no cost, and
WHEREAS, for the express purpose of furthering economic growth and development of the City
of Brookings, South Dakota the Brookings Economic Development Corporation, Inc. agrees to
sell, convey or otherwise transfer said property to a legal entity which is, or will be, conducting
business in the City of Brookings, South Dakota, and
WHEREAS, it is in the best interests of the City of Brookings that the City provide its economic
development assistance in this matter to aid and assist with the completion of the aforesaid
transaction which will further economic development in the City of Brookings; and
WHEREAS,the City is authorized to enter into this transaction as an economic development
activity under the laws of the State of South Dakota;
NOW THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of
Brookings, South Dakota, as follows:
A. That the City convey title to the above-described property to the Brookings Economic
Development Corporation,Inc. for the purposes of furthering economic growth and
development of the City of Brookings, South Dakota; and
B. That the Mayor, City Clerk and City Manager are authorized to execute the required
documents in accordance with this Resolution.
C. This Resolution shall supersede Resolution No. 95-05.
Passed and approved on the 10�`day of January, 2006
GTY OF
oo�.�•"�NCOqo�pO . unsterman, Mayor
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hornes, City Clerk