1967-09 Setting Conditions Of Land SalesKODIAK ISLAND BOROUGH
RESOLUTION NUMBER 67 -9 -R
WHEREAS, KODIAK ISLAND BOROUGH desires to protect the interests
of prospective developers of land in this area, and to combat presently
inflated land values,
THEREFORE BE IT RESOLVED by the ASSEMBLY OF KODIAK ISLAND BOROUGH
that the following shall be the conditions of the land sale scheduled for
March 31, 1967:
(1) Values shall be set at a 50% (fifty percent) reduction in
in appraised value.
(2) A restriction shall be imposed requiring that, after access
has been provided, all lots must be developed within two
years in accordance with plans submitted as required by
Borough ordinances.
(3) The required down payment shall be 10% (ten percent) of the
purchase price, with the balance to be paid over a nine-year
period, with interest at 5% (five percent) on the unpaid
balance.
(4) This shall be a general sale and shall not include veteran's
preference rights.
PASSED AND APPROVED this 2nd day of March, 1967.
KODIAK ISLAND BOROUGH ASSEMBLY
A'P1'BST:
Presiding Officer
Chairman