CCR1969143RESOLUTION # .I 143-69
e RESOLUTION AUTHORIZING THE EXERCISE OF AN
3
OPTION TO PURCHASE CERTAIN REAL ESTATE IN
THE CITY OF MUSKEG0 (FOTH).
BE IT RESOLVED that the City does hereby elect to
exercise that certain option to purchase real estate given to
the City my Melford Foth and Mathilda Eoth, said option being
dated the 12th day of November, 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 connnection
with said purchase including a promissory note pursuant to Section
67.12(12) Wisconsin Statutes. n
Dated this ,g 3 day of , 1969.
Mayor
ATTEST:
FOTH OPT I ON
e Estimated yearly expenditures on Foth real estate
purchase.
50 Acres at $2,800.00 per acre = $140,000.00
LESS Assessments - 10,800.00
Balance Payable ............... $129,200.00
Interest Rate 5.6%
SCHEDULE OF PAYMENTS
Date Principal Interest
3-1 -70
3-1 -71
3-1 -72
3-1 -73
3-1 -74
3-1 -75
3-1 -76
3-1 -77
3- I -78
3-1 -79
$28 , 200.
-0 -
-0 -
14,428.
14,428.
14,428.
14,428.
14,428.
14,428.
14,428.
$5,656.
-0 -
5,656.
5,656.
4,038.
3,229.
2,420.
1,611.
802.
4,847.
Tot a I
$28 , 200.
5,656.
5,656.
20,084.
19,275.
18,466.
17,657.
16,848.
16,039.
15,230.