1984-104 Authorizing Land Sale Number Nine And Establishing Its Terms.KODIAK ISLAND BOROUGH
RESOLUTION NO. 84 -104 -R
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING
LANDSALE NUMBER NINE AND ESTABLISHING ITS TERMS.
WHEREAS, the Borough Assembly and the Planning and Zoning Commission
have determined the below listed lands are surplus to the Borough's needs, and
WHEREAS, the Borough Assembly must determine the terms and
conditions under which the lands will be offered, and set the sale date.
NOW, THEREFORE, BE IT RESOLVED by the Borough Assembly that in
accordance with Title 18 of the Borough Code, it authorizes the Borough
Manager or his designee to offer the following land parcels for sale at a
public outcry auction on Saturday, November 17, 1984:
1. Lot 1, Sawmill Subdivision
2. U.S. Survey 1701 (Shuyak Island area)
3. Tract R, Russian Creek Alaska Subdivision
4. Lot 1A, Block 1, Chiniak Alaska Subdivision
5. Lot 1B, Block 1, Chiniak Alaska Subdivision
6. Lot 16, Block 2, Chiniak Alaska Subdivision
7. Lot 17, Block 2, Chiniak Alaska Subdivision
8. Lot 7A, U.S. Survey 3098
9. Lot 9A, U.S. Survey 3098
BE IT FURTHER RESOLVED by the Borough Assembly that parcels sold at
Land Sale Number Nine shall be subject to the following terms and conditions:
1. The said parcel shall be appraised at fair market value as
determined by the Borough Assessor or his designee;
2. The required minimum down payment at the time of sale shall be
twenty percent (20X) of the amount bid for Parcels 8 and 9, and ten percent
(10X) of the amount bid for Parcels 1 through 7;
3. The term of the loan for the unpaid balance shall be ten (10)
years for Parcels 1 through 7, and five (5) years for Parcels 8 and 9;
4. The interest rate on the unpaid balance shall be ten (10)
pe.wul. pee annum;
5. Level term monthly payments shall be required paying off the
promissory note for the unpaid balance;
6. The purchaser shall execute a promissory note for the unpaid
balance plus the interest and a deed of trust on the property to secure
payment of the note; and
7. Unsold parcels shall be reoffered again at the conclusion of
offering Parcel Nine. Any remaining unsold parcels shall then be made
available over the counter at 9:00 a.m., November 20, 1984 at the Finance
Director's office.
8. Parcel 1, Sawmill Subdivision, is to be offered with a
preference right to the former lessee to meet the high bid. The improvements
on the property are to be appraised separately. If the preference right
holder does not meet the high bid the new owner is to pay the preference right
holder the appraised value for the improvements. The parcel is to be offered
subject to a 50 foot wide setback along the Monashka Bay Road right -of-
way.
ATTEST:
9. Parcel 2, U.S. Survey 1701, is to be offered with a preference
right to the former lessees to meet the high bid. The improvements on the
property are to be appraised separately. If the preference right holders do
not meet the high bid the new owner is to pay the preference right holders
the appraised value for the improvements located on the property.
PASSED AND APPROVED this 4th day of October , 1984
by the Kodiak Island Borough Assembly.
Resolution No. 84 -104 -R
Page Two
KODIAK ISLAND BOROUGH
By / /- _"7"y.' / l._� /�1F
Borouen. -Mayor