CCR1969144RESOLUTION # 14h-69 -
RESOLUTION AUTHORIZING THE EXERCISE OF AN
OPTION TO PURCHASE CERTAIN REAL ESTATE IN
THE CITY OF MUSKEG0 (SCHOLBE). e
BE IT RESOLVED that the City does hereby elect to
exercise that certain option to Durchase real estate aiven to
the City by Math i Ida Schol be, sad opt ion being dated the 25th
day of October, 1969.
BE IT FURTHER RESOLVED that the City Clerk shall notify
the owner by written notice of the exercise of this option by mail-
ing such notice to the owner by registered mail or by delivering
the same to the owner at the address indicated in the option.
BE IT FURTHER RESOLVED that the Mayor, City Clerk and
City Attorney are authorized to complete the transaction on be-
half of the City and to draft the necessary documents in connection
with said purchase including a promissory note pursuant to Section
67.12(12) Wisconsin Statutes.
Dated this a day of Dd, 1969.
ATTEST:
SCHOLBE OPTION
Estimated yearly expenditures on Scholbe real
estate purchase.
60 Acres at $2,000.00 per acre - - $120,000.00
Interest Rate 5%
SCHEDULE OF PAYMENTS
- Date Principal Interest
3- I -70 $24,000.00
3-1 -71 24,000.00 $4,800.00
3-1 -72 24,000.00 3,600.00
3-1 -73 24,000.00 2,400.00
3-1-74 24,000.00 I,200.00
-0 -
TOTALS : 120,000.00 12,000.00
Tot a I
$24,000.00
28,800.00
27,600.00
26,400.00
25,200.00
132,000.00