2001-34 Land Sale Number 14WHEREA
KODIAK ISLAND BOROUGH
RESOLUTION NO. 2001 -34
Requested by:
Drafted by:
Introduced:
Adopted:
A RESOLUTION AUTHORIZING LAND SALE NUMBER FOURTEEN
AND ESTABLISHING TERMS AND CONDITIONS
Manager Carlson
Manager Carlson
07/19/2001
07/19/2001
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the terms and conditions of sale or 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 need.
NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND
BOROUGH THAT:
Section 1: The Kodiak Island Borough Assembly, in accordance with Title 18 of the
Kodiak Island Borough Code, authorizes the Manager or his designee to
offer the following lots for disposal by public outcry auction on August 29,
2001 at 1:00 p.m. in the Borough Assembly Chambers:
Sargent Creek Subdivision, Lot 1
Sargent Creek Subdivision, Lot 2
Sargent Creek Subdivision, Lot 3
Sargent Creek Subdivision, Lot 4
Sargent Creek Subdivision, Lot 5
Selief Estates, Block 2
Selief Estates, Block 3, Tract A
East Addition Kodiak Townsite, Block 33, Lot 13
$36, 000
$36,000
$36,000
$35,000
$40, 000
$245,000
$90,000
$22,500
Section 2: Parcels sold at Land Sale Number Fourteen shall be subject to the following
terms and conditions.
1. Said parcels shall be appraised at fair market value as determined by
the Borough Assessor and the minimum acceptable bid at the auction shall
not be less than ninety -five percent (95 %) of the appraised value. As
nominators of the sale of East Addition Block 33, Lot 13, Mr. & Mrs. Vito
Kalcic have the first right of refusal at the highest bid price for that lot only.
2. A deposit of ten percent (10 %) of the winning bid amount will be
required to be deposited with the auctioneer at the auction. The deposit
shall be verified funds in the form of a cashiers check or money order or any
form acceptable to the auctioneer as approved by the Borough Finance
Director, no credit card transactions are allowed. The deposit shall be
credited to the down payment at the closing of the land sale and kept by the
seller should the transaction not be completed as required by this resolution.
3. The term of the contract for the unpaid balance shall be ten (10) years.
4. The interest rate on the unpaid principal balance shall be ten (10)
percent, amortized monthly.
Kodiak Island Borough, Alaska Resolution No. 2001 -34
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ATTEST:
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._ �.� ... .... ,.,... v. �� Iuu� WI1 GI IIIVI 11.1 II The Borough Finance Department will calculate equal payments amortized
monthly, with the uneven payment, if any, being the last payment due. All
payments are due beginning 30 days following the date of recording with any
additional late penalties calculated pursuant to KIB Ordinances. There is no
penalty for prepayment of all or part of the deed of trust but any prepayments
shall be credited to outstanding interest and then principal. Prepayment of
the loan is allowed so long as they are made in conjunction with a regular
monthly payment. Prepayments will not affect the amount of the monthly
payment but will reduce the loan term accordingly.
6. The purchaser shall execute a deed of trust for the unpaid balance plus
interest to secure payment of the note. The Borough Finance Department
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escrow account by a third party trustee acceptable to the buyer and seller.
In that event the buyer shall be responsible for all costs associated with the
trustee and the escrow account. The time and place of the closing will be set
by the Borough manager or his agent, but shall be not Tess than ten (10) and
not more than twenty (20) working days after the signing of the purchase
commitment. The seller and buyer shall evenly split the expense of normal
closing and recording fees.
7. Any remaining unsold parcels shall be offered for sale, "over the
counter", beginning at 8:00 am on the fifth working day following the public
outcry auction at the office of the Borough clerk on a first come, first serve
basis. The minimum sales price shall be no less than ninety percent (90 %)
of the appraised value.
8. Any remaining unsold parcels not disposed of within six (6) months of
the sale date shall be withdrawn pending future evaluation and action.
9. All parcels will be conveyed by Quit Claim Deed subject to easements,
reservations, and restrictions of record.
10. Each entity (entity is defined as an unmarried individual, a married
couple, or a corporation) is limited to the purchase of two lots at the public
outcry auction. Any entity wishing to buy more than two lots will be allowed
to do so not sooner than 8:00 am on the sixth working day after the outcry
auction. At that time any entity may purchase any or all lots offered on a first
come first serve basis, with a minimum sales price of ninety percent (90 %)
of the appraised value.
ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
THIS NINETEENTH DAY OF JULY, 2001
ith A. Nielsen, &/IC, Borough Clerk
Kodiak Island Borough, Alaska
KODIAK ISLAND BOROUGH
Gabrielle LeDoux, : orou • Mayor
Resolution No. 2001 -34
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