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199076ORIGINAL .To CITY CLERK' BY CITY OF ST. P OFFICE OF THE CIl COUNCIL RESOLUTION —( Council File No. 199076 —By Milton Rosen — Whereas, J. R. Walker & Sons, Inc., a Minnesota corporation, was the high bidder on certain parcels of land offered for sale by the City of Saint Paul, which lands are described as Blocks 5, 6, 7 and 8, Battle Creek Heights Plat 1, according to the plat, on file and of record in the office of the Register of Deeds in and for Ramsey County. Minnesota, and _ T 1.99076 WHEREAS, R. Walker & Sons, Inc., a Minnesota corporation, was th'e.high bidder on certain parcels of land r . offered for sale by the City of Saint Paul, which lands are x described as Blocks 5, 6, 7 and 8, Battle Creek Heights Plat t= 1-, according to the plat on file and of record in the office of the Register of Deeds in and for Ramsey County, Minnesota; . .. R a hd. WHEREAS, the said J. R. Walker & Sons, Inc. are prepared to enter into contracts for deeds with the City of Saint Paul with reference to the purchase of the aforesaid } .} properties from the City in accordance with the terms and provisions of Formal Bid No. 7900, a copy of .the form of contract for dried with reference to one of the parcels being attached hereto and made a part hereof by reference; and WHEREAS, the J. R. Walker & Sons, Inc. corporation has requested permission to assign the aforementioned contracts, after execution thereof, to the R and W Realty Co., a corpora- tion affiliated with J.- .-R. Walker &. Sons, Inc., Now, Theref ore, be it �Y -RESOLVED, That the Council of the City of Saint Paul hereby authorizes and directs the proper City officers to execute on its behalf contracts applicable to the aforesaid Blocks 5, 6, 7 and 8, upon acceptance of the terms and condi- tions hereinafter set forth by both J. R. Walker & Sons, Inc. and R and W Realty Co.: 1. A certified check from the R and W Realty Co., 1116 No. Snelling Ave., drawn on the Northwestern National Bank of Saint Paul, Minnesota, in the sum of $36, 333.32, payable to the City of Saint Paul, is to be accepted as the initial payments from J. R. Walker & Sons, Inc. under and pursuant to the terms of the aforementioned contracts for deeds. 2. The Council of the City of Saint Paul hereby COUNCILMEN Yeas Nays DeCourcy Holland Loss In Favor Mortinson Peterson Rosen Against Mr. President, Vavoulis 5M a•60 offlpo 2 t ' Adopted by the Council 19— Approved 19— Mayor AL ?R R & SO Ms INC. - OFFICE PHONE: Y xC /r Mldwa 6-7336 l/ �o MIDWAY D5-4868 —HUMBOLDT 9 -2541 �► ' �• 111�ELLING AVE. ST. PAUL 13 Octobzbeh, 1960 City of St. Paul City Hall St. Paul, Minnesota Attn: Mr. Robert O'Connell Gentlemen: We are in receipt of a copy of that resolution of the Council of the City of Saint Paul, Council File Numer 199076 dated September 27th, 1960. Please be advised that we herewith acknowledge, agree to and accept the terms and conditions therein set forth. Very truly yours, J. R. WALKER & SONS , INC-.- = � Hy: ,;,t e��4 41- Warren Walker President Page 2. authorizes and consents to assignment of th the City and the J. R. Walker & Sons, Inc., execution of said contracts, to the R and W ever, no other or further assignment of any aforementioned contracts is to be permitted to by the Council of the City of Saint Paul said body duly adopted. 'x_99076 contracts between after proper Realty Co.; how - or all of the unless consented by resolution of 3. The Council of the City of Saint Paul hereby authorizes and consents to the filing of a bond which is to be in the nature of ari additional security to the City guaran- teeing payment of public improvement assessments to be levied by the City with respect to property within Blocks 5, 6, 7 and 8, Battle Creek Heights Plat 1, according to the plat on file and of record in the office of the Register of Deeds in and for Ramsey County, Minnesota,.- -such bond to be in the principal sum of $5,000 and to be executed by both J. R. Walker & Sons, Inc. and R and W Realty to, as principals; and to be in form satisfactory, to the Corporation Counsel; and be it FURTHER RESOLVED, That the proper officers of the City of Saint Paul are hereby authorized and directed to execute the aforementioned contracts for deeds pertaining to Blocks 5, 6, 7 and 8, Battle Creek Heights Plat 1, according to the plat on file and of record in the office of the Register of Deeds in and for Ramsey County, Minnesota, upon the filing by J. R. Walker & Sons, Inc. and the R and W,Realty Co. with the City Clerk of a letter executed by a duly authorized officer of each corporation agreeing to and accepting the terms and conditions of this resolution herei;nbef ore set forth; and be it FURTHER RESOLVED, That all future payments of principal and interest, made to the City of Saint Paul pursuant to the terms of the aforementioned contracts, shall be made to the Commissioner of Finance and shall be paid into Fund No. 1048, Detention and Corrections Receipts Fund; and be it FURTHER RESOLVED, That moneys placed in escrow with the City pursuant to the terms of the aforesaid agreements, to cover the cost of public improvements assessed or to be ORIGINAL TO CITY CLERK ~ a _ 19907-49 CITY OF ST. PAUL FILE NO NO OFFICE OF THE CITY CLERK COUNCIL RESOLUTION — GENERAL FORM PRESENTED BY COMMISSIONER DATE Page 3. assessed against any lot within the aforementioned Blocks 5, 6, 7 or 8, shall be paid to the Commissioner of Finance and shall be set up in the,suspense account of the Public Improvement Revolving Fund, 3001, until proper final alloca- tion with respect to such assessments can be made by the Commissioner of Finance. . a COUNCILMEN Yeas Nays DeCourcy a '14011 Loss —In Favor Mortinson Peterson Rosen Against Mr. President, Vavoulis SM 15.60 Q80.2 y. SEP 27 Adopted by the Council 19— SEP 27 Approved 19- 1 Mayor ' ,`' , r ••w• r,.t`1 � . • '� 'r 'r - � • "� µt`� _ -_ .� -.p 4 .;- i Y '' _ t -- + r: �i/R-)`. 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