Res 1994 - 26 Approving the Entering into of a Lease with Option to Purchase Agreementa:
CITY OF MENDOTA HEIGHTS
RESOLUTION 94-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENDOTA
HEIGHTS APPROVING THE ENTERING INTO OF A LEASE WITH
OPTION TO PURCHASE AGREEMENT WITH
AND AUTHORIZING EXECUTION OF RELATED
DOCUMENTS
WHEREAS, the City Council deems it to be in the best
interests of the City to approve�a Lease With Option to Purchase
Agreement with ' (the "Lease"),
dated as of May 1, 1994; .
NOW, THEREFORE, THE CITY COUNCIL DOES HEREBY RESOLVE AND
ORDER AS FOLLOWS: .
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1. That the City of Mendota Heights (the "City") enter
into the Lease, a Ground Lease dated as of May 1, 1994
(the "Ground Lease") and an Assignment Agreement with
the City, American National Bank and Trust Company and
dated as of May 1,
_ 1994 (the "Assignment Agreement")._ _
2. That Charles Mertensotto, the Mayor, and Kathleen
Swanson, City Clerk, either acting alone or together,
hereinafter designated as "authorized officers", be and
they hereby are, authorized, directed and empowered in
the name of the City to execute the following documents
in substantially the form presented to the City
Council:
(a) Lease;
(b) Ground Lease;
(c) Assignment Agreement; and
(d) The Certificate of the City of Mendota
Heights and Nonarbitrage Certificate and.any and
all related certificates and documents required in
connection with the transaction.
3. That the authorized officers be and they hereby are
authorized, directed and empowered, in the name of the
City, to do all such further acts and things as they
shall deem necessary, advisable, convenient, or proper
:
;
in connection with or incidental to the carrying of the
same into effect, including, without limitation on the
scope of the foregoing, the execution, acknowledgment,
and delivery of any and all instruments and documents
which may reasonably be required under or in connection
with the Lease With Option to Purchase Agreement, -
including a nonarbitrage certificate and a certificate
of incumbency, officer's certificate of authority,
execution and delivery, litigation and related matters.
4. That the authority hereby granted shall apply with
equal force and effect to the successors in office of
the officers herein named.
ADOPTED AND APPROVED this�5th day of April, 1994.
CITY OF MENDOTA HEIGHTS
�-�-� �- � �
Mayor
�"�;�;Ll.��-
ity Clerk
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