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HomeMy WebLinkAbout1975-08-04 304 AC RESOLVE304 AC Introduced by Councilor Speirs, August 4, 1975 f�i _ f�es{- CITY OF BANGOR `�"al seating, (TME.) NEBoty�y A4thp izing_App„pp,i t1 n,,,,,af Bonds,f-.,;Purchase_f Park WXEREAB, there presently exists between the City Of Bangor and Elaine Bass Pierce an agreement for the purchase by the City of Certain land adjacent to Bass Parke said agreement Providing for the purchase of said land by means of installment payments over a 10 -year period, aid WHEREAS, the City.has made application to the Economic Development Admini- stration for a grant for purposes of providing funds for certain improvements at Base Park and on the parcel of land to be acquired pursuant t0 said agreement with Elaine Bass Pierced and wOM EAS, the City's 'staff has been informed by representatives of the Economic development Administration that said grant application will not be approveduntil the City appropriates and dedicates monies suBEirc"ni',ent t0 meet the City's obligations under said purchase agreement. By the City Council of the City of Bangor RESOLVED, net the sum of $101,900 be transferred from the Capital Fund to a Trust and Agency Account to. be established by the Finance Director for pur- poses of providing sufficient funds for the Purchase of said land of Elaine Bass pierce in accordance with said purchase agreement. The Capital Fund to contain an appropriately identified receivable to be reduced yearly by the annual payment for said purchase. Thee Trust and Agency account to contain an appropriately identified Liability t. the Capital Fund for such transfer. IN CITY COUNCIL - 304 AC Augest 4, 1975 Received 1st reading. Rules 5,3 -qui stn ding f '' - R E S O L V E AppeOpriation Rasolve on two parate day w suspendedoby y, following r and _�_ no t councilors t'n9 y /:Y3lcL1V///'-� - R Soucy Rlg i .Henderson,Councilors, absent: Soucy andCi, SpeBrous, and Gass. absent: AutboriZing Appropriation of Funds for Received, 2nd and cans. - Received ma regains. Final passage W ntheci following yea aid no vote: Purchase of land Next to Bass Park. Councilor,-voting yea: yadGeller, Sidney, xeancilory Rooney, Soucy dna SpaBroun Councilors absent: Ealaacci', a[ountas and edea. CITY CLE �