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City Council Resolution 2003-28CITY OF MONTICELLO RESOLUTION #2003- 28 AUTHORIZING THE SALE OF PROPERTY WHEREAS, the City of Monticello owns property described on the attached Exhibit "A", (hereinafter the "Subject Property") upon which is located a structure previously used as a Library; and WHEREAS, the City Council of the City of Monticello has considered the purchase of a building and property formerly used as a bank by its owner, Wells Fargo Bank, to be used as the location of a new Library; and WHEREAS, the City Council has considered an agreement by which the City would sell the Subject Property and receive other properties in return from Wells Fargo Bank; and WHEREAS, the City Council has determined that the transaction furthers its general plan of economic and community development; and 102555 WHEREAS, City staff has negotiated the terms of the exchange and sale of the Subject Property to Wells Fargo Bank; and WHEREAS, the City Council finds that the sale of the property is in the public's interest and furthers the aims and purposes of the City, NOW, THEREFORE, be it resolved by the City Council of the City of Monticello: 1. The City is authorized to sell the Subject Property to Wells Fargo Bank. 2. The Mayor and City Administrator are authorized to execute all documents necessary, in the opinion of the City Attorney, to affect the sale of the Subject Property. Adopted by the Monticello City Council this 28th day of April 2003. Bruce Thielen, Mayor AT T: Of Rick Wolfsteller, Cit Administrator 102555 EXHIBIT "A" Lots 1, 2, 95 10, West Half of Lot 3 and the South 10 feet of the West Half of Lot 8, Block 17, MONTICELLO, according to the recorded plat thereof, Wright County, Minnesota. 102555