97-5123 Warranty DeedCmadiAaleO�$alina
RESOLUTION NUMBER 97-5123
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE A SPECIAL
WARRANTY DEED TO THE SALINA BOARD OF TRADE, INC.
WHEREAS, in 1981 the City issued industrial revenue bonds for an
addition to the Salina Board of Trade Building on East Iron Avenue (the
"facility") ; and
WHEREAS, the Salina Board of Trade, Inc. has given written notice
to the City of its desire to exercise its option to purchase the Facility
pursuant to its lease with the City dated July 1, 1981, (the "Lease"); and
have requested a waiver of the required 60 to 90 day notice of its exercise of
the option to purchase; and
WHEREAS,
UMB National Bank
of America, as fiscal agent,
has
consented to the exercise of the option
to purchase the Facility and
has
reported to the City
that it has received
the sum necessary to fully pay
the
outstanding balance
of principal, accrued
interest, and associated costs
and
expenses necessary to fully redeem the bonds.
SO NOW THEREFORE, BE IT RESOLVED by the Governing Body of
the City of Salina, Kansas:
Section 1. The 60 to 90 day notice requirement for the exercise of
the option to purchase the Facility pursuant to the Lease is hereby waived.
Section 2. The Mayor is hereby authorized to execute the Special
Warranty Deed to the Salina Board of Trade, Inc. in conjunction with its
exercise of the option to purchase the Facility pursuant to the Lease.
Section 3. That this resolution shall be in full force and effect from
and after its adoption.
Adopted by the Board of Commissioners and signed by the Mayor
this 24th day of February, 1997.
E�velyy Maxwell, Mayor
(SEAL)
ATTEST:
40
u y D . ng , CMC , City Clerk