1983-106 Authorizing Land Sale Number Eight And Establishing Its Terms.•) :1
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING
LAND SALE NUMBER EIGHT AND ESTABLISHING ITS TERMS.
WHEREAS, THE Borough Assembly adopted Resolution Number 82 -84 -R on
December 2, 1 8 , authorizing the preparation of certain properties, owned
by the Borough, for disposal; and
WHEREAS, the Planning and Zoning Commission, at its November 17,
1982 meeting con ucted 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 Eight are nearing
completion.
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 the following parcels of land for sale at a public
outcry acution on Saturday, November 15, 1983:
1. Lot 7A, U.S.S. 3098
2. Lot 9A, U.S.S. 3098
3. Lot 8, Block 1, Russian Creek Alaska Subdivision
4. Lot 12, Block 1, Russian Creek Alaska Subdivision
5. Tract K, Russian Creek Alaska Subdivision
6. Lot 3, Tract A, U.S.S. 3465
7. Tract A, Miller Point Alaska Subdivision
8. Lot 1, Block 1, Chiniak Subdivision
9. Lot 16, Block 2, Chiniak Subdivision
10. Lot 17, Block 2, Chiniak Subdivision
BE IT FURTHER RESOLVED by the Borough Assembly that parcels sold
at Land Sale Number Eight shall be subject to the following terms and
conditions:
1. The required minimum downpayment at time of sale shall be
twenty percent (20 %) of the amount bid;
2. The loan term for Business zoned properties shall be five (5)
years, except for Tract K, Russian Creek Alaska Subdivision, which shall be
ten (10) years;
3. The loan term for Residentially zoned properties shall be ten
(10) years;
4. The interest rate on the unpaid balance shall be ten percent
(10 %) per annum;
5. Failure to make two (2) consecutive payments shall be grounds
for repossession of the property;
6. Payments shall be made on a monthly basis; and
7. The parcels to be sold shall be appraised by the Borough
Assessor to determine fair market values.
ATTEST:
Borough Cl k
KODIAK ISLAND BOROUGH
RESOLUTION NO. 83 -106 -R
PASSES AND APPROVED THIS 1st DAY OF September , 1983.
BY:
KODIAK ISLA
ROUGH
Borough ayor