1984-35 Authorizing Land Sale Number Nine And Establishing Its Terms.it I
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;ATTEST:
i/BY:
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KODIAK ISLAND BOROUGH
RESOLUTION NO. 84 -35 -R
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING LAND
SALE NUMBER NINE AND ESTABLISHING ITS TERMS.
WHEREAS, the Borough Assembly adopted Resolution Number 82 -84 -R on
December 2 I rand Ordinance Number 84 -19 -0 on April 5, 1984, authorizing
the preparation of certain properties owned by the Borough for disposal; and
WHEREAS, the Planning and Zoning Commission, at its November 17,
1982 and January 18, 1984 meetings conducted a public hearing in accordance
with Title 18 of Borough Code and found the lands proposed for disposal to be
surplus to the Borough's needs; and
WHEREAS, preparations for Land Sale Number Nine are nearing
'completion.
NOW THEREFORE, BE IT RESOLVED by the Borough Assembly that, in
'accordance wits it e 1 0 orougl o e, it authorizes the Borough Manager or
:outc designee to offer the following parcels of land for sale at a public
ry auction on Saturday, May 5, 1984:
1. Lot 7A, U.S. Survey 3098
2. Lot 9A, U.S. Survey 3098
3. U.S. Survey 1701, Shuyak Island
BE ,Land Sale NumlerFNiineEshaESObbeEssubjecteto thegh A s se i 1 ng y terms and sold ions:
1. The required minimum downpayment at time of sale shall be twenty
percent (20 %) of the amount bid;
2. The loan term for Business -zoned properties shall be five (5)
years;
3. The loan term for Conservation -zoned property shall be ten
(10) years;
4. The interest rate on the unpaid balance shall be ten percent
(10 %) per annum;
5. Failure to make two (2) consecutive payments shall be grounds
for repossession of the property;
6. Payments shall be made on a monthly basis; and
7. The parcels to be sold shall be appraised by the Borough
Assessor to determine fair market values.
PASSED AND APPROVED THIS 5th DAY OF
Agri l
KODIAK ISLAND BOROUGH
r\
BY:
Borough Mayor
, 1984.