City Council Resolution 2012-37CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2012-037
AUTHORIZING TWO PURCHASE AGREEMENTS BETWEEN THE CITY OF
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY AND MONTGOMERY
FARMS, LLC
BE IT RESOLVED BY the City Council ( "Council ") of the City of Monticello, Minnesota (the
"City ") as follows:
Section 1. Recitals.
1.01. The City of Monticello Economic Development Authority (the "Authority ") and
Montgomery Farms, LLC (the "Seller ") desire to enter into two purchase agreements (the
"Purchase Agreements ") pursuant to which the Authority will acquire certain property in the
downtown area of the City (the "Property ") from the Seller for economic redevelopment
purposes related to the revitalization of the downtown area.
1.02. The City hereby finds that acquisition of the Property conforms to the City of
Monticello Redevelopment Priorities and Policies, as approved by the City and Authority, and
will facilitate the economic redevelopment and revitalization of the downtown area of the City.
Section 2. Purchase Agreements Authorized.
2.01. The City hereby authorizes execution of the Purchase Agreements in substantially
the form presented to the Authority, subject to modifications that do not alter the substance of the
transaction and that are approved by the President and Executive Director, provided that
execution of the Purchase Agreements by those officials shall be conclusive evidence of their
approval.
APPROVED BY the City Council of the City of Monticello, Minnesota, this 23rd day of
April, 2012.
CITY OF MONTICELLO
C (f / 7W-
Clint Herbst, Mayor
ATTEST:
Jeff ' ' , City Administrator
CERTIFICATION
STATE OF MINNESOTA
COUNTY OF WRIGHT
I hereby certify that the foregoing is a true and correct copy of Resolution #2012 -037
duly passed, adopted and approved by the Monticello City Council at their scheduled meeting on
April 23, 2012, and recorded in minutes of said meeting.
Notary Public: ' r/�lC
Date:
(STAY i'i
VICKI JAN LEER OFF
Notary Publlo-Mlnnesota
MyCommleelon EvIr" im 91, 2016
JefflOZgM, City Administrator