97-5117 Warranty Deedcanwimxied.seimx
RESOLUTION NUMBER 97-5117
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE A SPECIAL
WARRANTY DEED TO ROY M. WILBUR AND VIRGINIA S. WILBUR, HUSBAND
AND WIFE.
WHEREAS, in 1982 the City issued industrial revenue bonds for a
facility developed by Roy M. Wilbur and Virginia S. Wilbur, husband and wife,
at 123 Indiana Avenue ( the "facility") ; and
WHEREAS, Mr. and Mrs. Wilbur have given written notice to the
City of their desire to exercise their option to purchase the Facility pursuant
to their lease with the City dated May 1, 1982, (the "Lease"); and have
requested a waiver of the required 60 to 90 day notice of their exercise of the
option to purchase; and
WHEREAS, UMB National Bank of America, as both fiscal agent and
the sole bondholder under the industrial revenue bond issue, has consented to
the exercise of the option to purchase the Facility and has reported to the
City that they have 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 Roy M. Wilbur and Virginia S. Wilbur in conjunction with
their 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 10th day of February, 1997.
:JAte&- --
en�Maxwell, Mayor
(SEAL)
ATTEST:
4-
Cu y D . g, CMC, City Clerk