1990-46 Authorizing Land Sale Number Eleven and Establishing it's Terms.By: Mayor Selby
Introduced: 09/06/90
Adopted: 09/06/90
KODIAK ISLAND BOROUGH
RESOLUTION NO. 90-46
A RESOLUTION AUTHORIZING LAND SALE NUMBER ELEVEN
AND ESTABLISHING ITS TERMS
WHEREAS, Section 18.30.020 requires the Borough Assembly
to set the terms of sale for the disposition of public lands; and
WHEREAS, the Planning and Zoning Commission has
recommended and the Borough Assembly has determined that certain
lands are surplus to the Borough's needs;
NOW, THEREFORE, BE IT RESOLVED that the Kodiak Island
Borough Assembly, in accordance with Title 18 of the Borough Code,
authorizes the Borough Mayor or his designee to offer the following
lots for disposal by sealed bid on Monday, November 26, 1990:
1. Lot 17, Block 1, Russian Creek Alaska Subdivision
2. Lot 18, Block 1, Russian Creek Alaska Subdivision
3. Lot 21, Block 1, Russian Creek Alaska Subdivision
4. Lot 9A, Block 3, Russian Creek Alaska Subdivision
5. Lot 9B, Block 3, Russian Creek Alaska Subdivision
6. Lot A-3, Russian Creek Alaska Subdivision
7. Portion of Lot 1, U.S. Survey 2539 (Nixon's Ranch)
8. Lot 3, Block 1, Chiniak Subdivision
9. Lot 4, Block 1, Chiniak Subdivision
10. Lot 6, Block 1, Chiniak Subdivision
11. Lot 7, Block 1, Chiniak Subdivision
12. Lot 13, Block 2, Chiniak Subdivision
13. Lot 15, Block 2, Chiniak Subdivision
14. Lot 7A, Block 5, Miller Point Subdivision
15. Lot 1, Block 13, Port Lions Alaska Subdivision
16. Lot 1, Onion Bay #2
17. Lot 2, Onion Bay #2
18. Lot 3, Onion Bay #2
Resolution No. 90-46
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19. Lot 4, Onion Bay #2
20. Lot 5, Onion Bay #2
BE IT FURTHER RESOLVED by the Kodiak Island Borough
Assembly that parcels sold at Land Sale Number Eleven shall be
subject to the following terms and conditions:
1. The said parcels shall be appraised at fair market
value as determined by the Borough Assessor/Chief Appraiser or his
designee;
2. The required minimum down payment shall be ten
percent (10%) of the bid submitted. The down payment shall be
certified cashier's check or money order and included with the
sealed bid. Down payments may be forfeited if the highest
responsive bidder does not complete closing within thirth (30) days
of the date of the sale.
3. The term of the loan for the unpaid balance shall be
ten (10) years;
4. The interest rate shall be ten percent (10%) per
annum (simple) on the unpaid principal balance;
5. Payments shall be made quarterly on the unpaid
balance at closing. The Finance Department will calculate level
payments, with the uneven payment becoming the first quarterly
payment due;
6. The purchaser shall execute a promissory note for
the unpaid balance plus interest, and a deed of trust on the
property to secure payment of the note;
7. The number of parcels sold to any one individual
group or company shall be limited to two (2).
Resolution No. 90-46
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8. Proceeds from the sale of Lot 1, Block 13, Port
Lions Subdivision shall be used to offset a debt on the books at
the Kodiak Island Hospital;
9. Any remaining unsold parcels shall be sold as over-
the-counter sales at 9:00 a.m. on Tuesday, November 27, 2990 at the
office of the Resource Manager.
PASSED AND APPROVED THIS 6th DAY OF SEPTEMBER, 1990.
ATTEST:
KODIAK ISLAND BOROUGH
n l
H ough Mayor
P siding Officer
Resolution No. 90-46
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Bo
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KODIAK ISLAND BOROUGH
n l
H ough Mayor
P siding Officer
Resolution No. 90-46
Page 3 of 3