FY2013-15 Authorizing Terms and Conditions of Land Sale Number Seventeen •
Introduced by: Borough Assembly
Requested by: Administrative Official
1 Drafted by: Resource Management
Officer
2 Introduced: 12106/2012
3 Adopted: 12/06/2012
4
5 •
6 KODIAK ISLAND BOROUGH
7 RESOLUTION NO. FY2013 -15
8
9 A RESOLUTION OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
10 AUTHORIZING TERMS AND CONDITIONS FOR SALE OF A TAX FORECLOSED
11 PROPERTY LEGALLY DESCRIBED AS LOT 17, BLOCK 7, BARANOF HEIGHTS
12 SUBDIVISION 1 ADDITION AT BOROUGH LAND SALE NUMBER SEVENTEEN
13
14 WHEREAS, the Kodiak Island Borough has acquired Lot 17, Block 7, Baranof Heights
15 Subdivision 1 Addition as a result of the tax foreclosure procedure; and
16
17 WHEREAS, the Assembly adopted Ordinance No. FY2013 -05 which determined that a
18 public need does not exist for tax foreclosed Lot 17, Block 7, Baranof Heights Subdivdision
19 1s` Addition and that it be sold; and
20
21 WHEREAS, Ordinance No. FY2013 -05 directed the manager to offer the property by
22 sealed bid auction with the highest bidder taking ownership, and specified terms of sale.
23
24 NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND
25 BOROUGH THAT:
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27 Section 1: To be eligible for consideration, all sealed bids must be received in the
28 manager's office by 4;p.m. on January 17, 2013. Bidder is to enclose a
29 10% deposit ($6,650) based on the minimum bid amount shown in the bid
30 packet. This payment must be in the form of cash, a cashier's check, bank
31 draft, certified check, or other form acceptable to the Borough Finance
32 Director. The remaining balance must be paid within thirty (30) days.
33
34 Section 2: This property has been appraised by the Borough Assessor within a fair
35 market value range of $70,000 - $80,000, with a recommendation that the
36 property be offered at the lower end of this range.
37
38 Section 3: The minimum acceptable bid at the auction shall be not less than ninety -five
39 percent (95 %) of the low range of fair market appraised value (not less than
40 $66,500).
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42 Section 4: If the property is sold for more than the amount of taxes, penalties, interests
43 and other related costs, the Borough Finance Director shall provide written
44 notice to the former record owner of the real property advising of the
45 amount of excess and the manner in which a claim for the balance of the
46 proceeds may be submitted. Notice is sufficient if mailed to the former
47 record owner at his /her last address of record. Upon presentation of a
48 proper claim, the Borough shall remit the excess sale proceeds (as
49 determined by AS 29.45.480(B)) to the former owner of record. A claim for
Kodiak Island Borough Resolution No. FY2013 -15
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50 the excess which is filed after six (6) months of the date of the sale is
51 forever barred.
52
53 Section 5: The Borough will execute and deliver to the buyer of the property a
54 quitclaim deed without warranty or representation which will convey any
55 and all interest the Borough might have in the real property, free from
56 encumbrances in accordance with AS 29.45.450 but subject to easements,
57 reservations and restrictions of record including zoning ordinances and any
58 plat requirements and convenants. Prospective buyers shall also be
59 advised in the public notice that the Borough reserves the right to withdraw
60 the parcel from sale and that, pursuant to law, the property may be
61 repurchased by the previous record owner, or their assigns or heirs, at any
62 time before the sale.
63
64 ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
65 THIS SIXTH DAY OF DECEMBER, 2012
66
67 KODIAK ISLAND BOROUGH
68
69
70 ` /
71 Jer. e M. Selby, Borough Oa or
72
73 ATTE T:
74
76 1111 / F 111,
77 Nova M. Javier, MMC, Borough Clerk
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Kodiak Island Borough Resolution No. FY2013 -15
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