07/13/2004 Resolutions 2004-171
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RES 0 L UTI 0 N 2004-171
WHEREAS, on May 25, 2004, the City of Grand Island held a public hearing and
approved the purchase of Lots Five (5), Six (6), Seven (7), and Eight (8), Block Seventy Seven (77),
Original Town, now City of Grand Island, Hall County, Nebraska, from RudolfF. Plate and J eannice
R. Plate, husband and wife; and
WHEREAS, such property is located along First Street between Sycamore and
Kimball Avenue; and
WHEREAS, the parties have negotiated a purchase price for the property of
$370,000, with $50,000 to be paid by the City upon the approval and execution of an Agreement for
Warranty Deed, and the remaining $320,000 to be paid by the City at closing; and
WHEREAS, the appraised value ofthe property is $363,000; and
WHEREAS, the agreement is contingent upon the City of Grand Island approving and
adopting a fiscal year 2004-2005 budget with sufficient and appropriate appropriations to perform
the City's duties and responsibilities under the Agreement for Warranty Deed; and
WHEREAS, the City would take possession of the property on or about January 3,
2005; and
WHEREAS, an Agreement for Warranty Deed has been prepared by the City
Attorney and Plate Enterprises, L.L.C. setting out the terms and conditions for the conveyance of
such property.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that:
1. The acquisition ofthe above-described property at the purchase price of$370,000 is
hereby approved, with $50,000 to be paid by the City upon approval and execution of
the Agreement for Warranty Deed, and the balance of$320,000 to be paid by the City
at the closing.
2. The Agreement for Warranty Deed between the City and Plate Enterprises, L.L.C., is
hereby approved; the City agrees to appropriate sufficient funds to complete the
purchase, and the Mayor is hereby authorized and directed to execute such agreement
on behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, July 13, 2004.
J:l City Attorney