BY COUNCILOR STOVER:
RESOLVED, that the property city officials are hereby authorized to enter into a cooperative agreement, a copy of which is on file in the office of the city clerk as Public Document No. ___________, with the St. Louis County land department for the combined sale of adjoining city-owned property and tax forfeited property near the intersection of Mesaba Avenue and Central Entrance.
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize the execution of a cooperative agreement with the St. Louis County land department. The cooperative agreement authorizes the County Land Department to sell city owned property at auction on october 12, 2006. This agreement defines the city’s percent of sale proceeds, and allows the land purchaser the option of a ten year payment plan. If the purchaser chooses the 10-year payment plan, the city will bill the county annually for its portion, and the city agrees to forego all interest as payment for the county conducting the sale and administering the ten year sale contract.