CR 05-115 Use of Proceeds from Interlachen Land Sale
Council Report 2005-115
RESOLUTION DESIGNATING USE OF PROCEEDS
FROM INTERLACHEN LAND SALE
Proposed Action
Staffrecommends that the Council approve the following motion: Move to approve Resolution 2005-079.
Approval of this motion will designate the use of proceeds from the Interlachen land sale as is required by the
city charter.
Overview
After determining that there was no further public purpose for a small piece of land in the Interlachen
neighborhood the property was advertised and sold according to the requirements of state statutes and the city
charter. In July 2005 the land sale was completed through the competitive bidding process. Total proceeds
net of expenses are $71,530.20. Several options were explored for the use of these funds and a
recommendation was made to use the funds for the Hopkins Center for the Arts.
Supporting Information
+ Resolution 2005-079
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Christine M. Harkess
Finance Director
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2005-076
A RESOLUTION DESIGNATING USE OF PROCEEDS FROM LAND SALE
WHEREAS, the City of Hopkins declared certain property on Interlachen Road as surplus; and
WHEREAS, said property was sold through open auction; and
WHEREAS, the Hopkins City Charter requires the City Council to designate by resolution the
use ofthe proceeds from such sales,
NOW, THEREFORE, it is hereby resolved by the City Council of the City of Hopkins, as
follows: The proceeds from the sale of the property on Interlachen Road that
occurred in July of2005 shall be used to retire the debt of Hopkins Center for the
Arts.
Adopted by the City Council of the City of Hopkins this 6th day of September 2005.
By
Gene Maxwell, Mayor
ATTEST:
Terry Obermaier, City Clerk