HomeMy WebLinkAbout1998-208RESOLUTION NO. 98-2D8
A RESOLUTION AUTHORIZING PAYMENT OF
TRANSACTION FEE FOR REPURCHASE OF AIPLE PROPERTY
WHEREAS, the City. has conducted negotiations with Union Pacific Railroad Company,
a Delaware corporation, for the reconveyance of certain real estate described in this Resolution as
the Aiple Property including that property upon which the Terra Fertilizer building is located;
and
WHEREAS, the City has been able to negotiate with the railroad to pay less then the
minimum transaction fee that the railroad requires for any real estate conveyance on the basis of
the rights that the City would have in the parcel and that the railroad has actually obtained a
conveyance of the land by mistake.
NOW, THEREFORE, BE IT RESOLVED: that the City pay to Union Pacific Railroad
Company their transaction fee for repurchase of the Aiple Property in the amount of seven
thousand five hundred and no/100 dollars ($7,500.00) and that the check be made payable to the
Union Pacific Railroad Company and that the City Treasurer is authorized to disburse City funds
for this purpose.
Enacted by the City Council of the City of Stillwater this ll~day of August, 1998.
CITY OF STILLWATER
ay 'm e, May
ATTEST:
~~
Morli eldon, Clerk