92-4413 IRB SaleRESOLUTION NUMBER 92-4413
A RESOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER TO
EXECUTE AND CAUSE TO BE DELIVERED CERTAIN DOCUMENTS NECESSARY
TO EFFECT THE CLOSING OF THE SALE OF THE SALINA MOTEL PROJECT BY
THE CITY OF SALINA TO RESOLUTION TRUST CORPORATION AS RECEIVER
AND ANCHOR FEDERAL SAVINGS AND LOAN ASSOCIATION.
WHEREAS, the $1,650,000 City of Salina, Kansas, Industrial Revenue
Bond, Series 1986, (The Salina Motel Limited Partnership Project) (the
"Bonds") , including all expenses and fees of The Security Bank of Kansas City
(the "Trustee) and the City of Salina (the "Issuer"), have been fully paid by
the Resolution Trust Corporation, as receiver for Anchor Federal Savings and
Loan Association (the "RTC") , the Trustee has assigned to RTC the
security interests in and title to all collateral held by the trustee under the
trust indenture relating to the Bonds, and the Issuer is now selling the Salina
Motel to the RTC, ( the "Sale") .
Kansas:
BE IT RESOLVED by the Governing Body of the City of Salina,
Section 1. That the Mayor is authorized to execute the special
warranty deed, bill of sale and any other document necessary to effect the
closing of the Sale.
Section 2. That the City Manager is authorized to execute the lien
affidavit and any other document necessary to effect the closing of the Sale.
Section 3. That the City Attorney is authorized and instructed to
deliver to and deposit with the C. W. Lynn Abstract Company, Inc. (the
"Closing Agent") the executed documents, an appropriate letter of instruction
to the Closing Agent, payment of one-half of the Closing Agent's closing fee in
the amount of $150.00, and a certified copy of this resolution on or before the
date of the closing of the Sale.
Section 4. 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
6th day of January, 1992.
Stephen C. R n, Mayor
( SEAL)
ATTEST:
Jacqueline Shiever, City Clerk