HomeMy WebLinkAbout89-191 - ADMIN Resolution - City Council - 1989/12/04RESOLUTION NO.
December 4, 1989
89 191
RESOLUTION DISTRIBUTING PROPERTY SALES PROCEEDS
WHEREAS, The City Council of St. Louis Park has adopted two ordinances
authorizing the sale of two City -owned land parcels located at the southeast
and southwest corners of I394 and Vernon Ave. for $200,000 and $500,000
respectively, and
WHEREAS, The City Charter directs that sale proceeds be used to retire
outstanding indebtedness of the parcel/project, but if there is no
outstanding indebtedness, the Council may designate some other public use
for such proceeds, and
WHEREAS, The related improvement project includes street lighting
improvements to be financed by general obligations totaling $40,000.
NOW THEREFORE, BE IT RESOLVED by the City Council that the property sales
proceeds be distributed as follows:
Fund Amount
Special assessment construction (I394 Project) $ 40,000
General 300,000
Permanent Improvement Revolving 360,000
Adopted by the City Council December 4, 1989
Reviewed for administration
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City Manager
w. Alz(4,4--
Approved
as to form and execution
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City Attorney