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<br />Commissioner Look introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #HRA 09-03-003 <br /> <br />A RESOLUTION APPROVING A PURCHASE AGREEMENT FOR THE PURCHASE OF <br />CERTAIN LANDS IN THE RAMSEY TOWN CENTER ADDITION, ANOKA COUNTY, <br />MINNESOT A~ <br /> <br />WHEREAS, the City Council has recommended that the HRA enter into a Purchase <br />Agreement attached as Exhibit A for the purchase of certain lands in the Ramsey Town Center <br />Addition, which lands are legally described in said Purchase Agreement; and <br /> <br />WHEREAS, the Purchase Agreement is a central term for the settlement of that certain <br />lawsuit known as City of Ramsey vs. Minnwest Bank Central, AnokaCounty District Court File No. <br />02-CV-07-2643; and <br /> <br />WHEREAS, the HRA finds that it is in the City's best interests of the continued economic <br />development of the City that it approve the Purchase Agreement. <br /> <br />NOW, THEREFORE, be it RESOLVED by the HRA as follows: <br /> <br />1. That the Purchase Agreement is contingently approved and the HRA's Chairperson and <br />Secretary/Treasurer are authorized to execute on behalf of the HRA, contingent on the <br />following: <br /> <br />a. The City Council's final approval of the Settlement Agreement for the settlement of <br />the above referenced lawsuit. <br /> <br />b. Agreement between the City Attorney and Minnwest Bank Central's attorney on the <br />form of the title commitment to be attached to the Purchase Agreement as Exhibit B <br />and the correct references to that Exhibit in Section 5(a)(iii) of the Purchase <br />Agreement. <br /> <br />2. FURTHER RESOLVED that the HRA approves of and authorizes its Chairperson and <br />Secretary/Treasurer to sign the Consent to Settlement Agreement and Release with the <br />Participant Banks, subject to the conditions as described in no. 1 above. <br /> <br />3. FURTHER RESOLVED that the BRA approves of and authorizes its Chairperson and <br />Secretary/Treasurer to sign the Release Agreement with Ramsey Town Center. <br /> <br />4. FURTHER RESOLVED that the HRA delegates authority to Chairperson Dehen and <br />Commissioners Look and Ramsey to authorize execution of the final draft of the Purchase <br />Agreement referenced in this resolution upon their finding that said Purchase Agreement <br />conforms in concept to the Purchase Agreement terms as approved by the HRA pursuant to <br />direction given by the HRA at its special HRA meeting on March 17, 2009 regarding this <br />subject. <br />