Resolution 4435 - Valley Bank Parking Lot PurchaseRESOLUTION NO. 443
A RESOLUTION RELATING TO THE ACQUISITION OF LOTS 8, 9, 10, 11, 12,
BLOCK 55, KALISPELL ORIGINAL, IDENTIFYING THE INTEREST TO BE
ACQUIRED AND PROVIDING A BASIS UPON WHICH TO BASE THE PURCHASE
PRICE.
WHEREAS, the City Council of the City of Kalispell, pursuant to
Resolution No. 4157, authorized the sale of Lots 8, 9,
10, 11, 12, Block SS, Kalispell Original to the Valley
Bank for the sum of $160,000, and
WHEREAS, said sale, completed on or about December 1611, 1994, was
subject to a covenant and restriction which required
Valley Bank to build a banking facility upon said
property within 24 months of the sale, or in the
alternative to grant the City the right -of -first refusal
to re -purchase the property for the sum of $160,000 and
WHEREAS, Valley Bank has not proceed with the development of
property as contemplated by the transfer, and
WHEREAS, the City budget for fiscal 1999 authorizes an expenditure
of $800,000 to provide additional off-street parking
' within the downtown area, and
n
WHEREAS, purchase price of $160,000 has been established pursuant
to a Deed and no appraisal is needed.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL, AS FOLLOWS:
SECTION I. That the City Manager is authorized and
directed to purchase from the Valley Bank a
fee simple estate in Lots 8, 9, 10, 11, 12,
Block 55, Kalispell Original for the sum of
$160,000 for the purpose of assuring that said
lots are utilized as a public parking
facility.
SECTION II. That the City Finance Director is authorized
and directed to pay in accordance with the
instructions from the Valley Bank the sum of
$160,000 for Lots 8, 9, 10, 11, 12, Block 55,
Kalispell Original.
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SECTION III. That the City Attorney is authorized and
directed to prepare any documents necessary to
effect this Resolution and the City Manager is
authorized and directed to accept and properly
record on behalf of the City of Kalispell the
deeds to said property.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL
AND SIGNED BY THE MAYOR, THIS DAY OF NOV-EMBER, 1998.
Wm.E-5abars i
Wm. E. Boharski - Mayor
Attest:
Theresa White
Clerk of Council
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