01-0183R

RESOLUTION APPROVING DEDA'S PURCHASE AGREEMENT WITH U.S. BANK NATIONAL ASSOCIATION PURSUANT TO DEDA RESOLUTION 01D-18.

BY COUNCILOR STENBERG:

        RESOLVED, that pursuant to Resolution No. 99-0239, the purchase agreement between the Duluth economic development authority (DEDA) and U.S. Bank National Association as personal representative for the estate of Harry R. Davis in the amount of $95,000, as approved by the DEDA board at its meeting of February 27, 2001, pursuant to DEDA Resolution No. 01D-18, a copy of which is on file in the office of the city clerk as Document No. _______________, is hereby approved.


STATEMENT OF PURPOSE:  The purpose of this resolution is to approve a purchase agreement between DEDA and U.S. Bank National Association as personal representative for the estate of Harry R. Davis pursuant to the requirements of Resolution 99-0239.  The nature and purpose of this agreement, together with the amount to be paid to U.S. Bank, are set forth in DEDA Resolution No. 01D-14.