1980-52 Declaring The Terms Of The Pending Land Sale.WHEREAS, the Kodiak Island Borough Assembly has authorized the
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sale of certain real property by passing Resolution No. 80 -41 -R (Revised) on
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1
A RESOLUTION OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH DECLARING
THE TERMS OF THE PENDING LAND SALE.
2 October 1980; and
KODIAK ISLAND BOROUGH
RESOLUTION NO. 80 -52 -R
WHEREAS, the revised Title 18 of the Municipal Code states
under Section 18.30.020, Terms of Sale:
"The Assembly shall determine the terms upon which Borough
land is to be sold at the time the disposal is approved, or,
if the Assembly directs that the purchase proposals be invited,
the Assembly may provide that proposals include the terms of
the sale "; and
NOW, THEREFORE, BE IT RESOLVED by the Kodiak Island Borough
Assembly that the following terms shall apply to this sale:
After the purchase contract is executed, the remaining balance of
the purchase price shall be paid over a period not to exceed ten years from
the date of execution of the sales contract, except that purchasers of con -
tracts exceeding ten thousand dollars in value may elect to pay the remaining
'balance of the purchase price over a period not to exceed twenty years. In-
Istallment payments plus interest will be set on the level - payment basis over
1 i�]the payment period. Payments shall be made annually for contracts valued at
Ilten thousand dollars and less. Payments for contracts valued greater than ten
Il thousand dollars shall be made quarterly.
PASSED AND APPROVED this 14th
ATTEST:
KODIAK ISL ' BOROUGH
// /
Acting Depu" -
BY
Bo
day of Ortnher
.y.
, 1980.