1983-38 Authorizing Land Sale Number Seven.1
KODIAK ISLAND BOROUGH
RESOLUTION NO. 83 -38 -R
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING
LAND SALE NUMBER 7.
WHEREAS, the Borough Assembly adopted Resolution Number 82 -84 -R on
December 2, 1982, authorizing the preparation of certain Borough properties for
disposal; and
WHEREAS, the Planning and Zoning Commission, at its November 17,
1982 meeting, 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 7 are nearing completion
by the Borough Staff.
NOW, THEREFORE BE IT RESOLVED by the Borough Assembly that in
accordance with Title 18 of Borough Code it authorizes the Borough Manager
or his designee to offer 22 parcels for sale a a public outcry auction on
May 7, 1983, subject to the following terms and conditions:
1. The required minimum downpayment at time of sale shall be
20% of the amount bid;
2. The loan term for Business zoned properties shall be 5 years;
3. The loan term for the Residentially zoned parcel shall be
10 years;
annum;
4. The interest rate on the unpaid balance shall be 10% per
5. Failure to make 2 consecutive payments shall be grounds for
repossession of the property; and
6. Payments shall be made on a monthly basis.
I ATTEST:
BY:
PASSED AND APPROVED THIS 7th DAY OF April
BY:
, 1983.
KODIAK IS •ND BOROU H
Borough Ma •r