A RESOLUTION AUTHORIZING THE CITY OF LAWRENCE, KANSAS TO CONVEY CERTAIN REAL AND PERSONAL PROPERTY TO JAMES M. KLAUSMANN AND JACKLYN S. KLAUSMANN; AND PRESCRIBING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS IN CONNECTION THEREWITH.
WHEREAS, the City of Lawrence, Kansas (the “City”) issued its Industrial Revenue Bonds (Kinedyne Project) Series 1990, in the aggregate original principal amount of $1,850,000 (the “Bonds”) to finance and refinance the acquisition, construction and equipping of certain property, including the real property described in Exhibit A hereto (the real property and improvements financed or refinanced in whole or in part out of Bond proceeds being collectively referred to as the “Project”); and
WHEREAS, in connection with the Bonds, the City, as landlord, and James M. Klausmann and Jacklyn S. Klausmann, as tenant (the “Tenant”), entered into a Lease dated March 1, 1990 (the “Lease”) with respect to the Project; and
WHEREAS, the City assigned its interest in the Lease to Merchants National Bank of Topeka, Topeka, Kansas, as trustee (the “Trustee”) pursuant to an Assignment of Lease dated as of March 22, 1990 (the “Assignment of Lease”) between the City and the Trustee; and
WHEREAS, Section 17.1 of the Lease gives the Tenant the right to purchase the Project upon payment in full of the Bonds; and
WHEREAS, the Tenant has paid the Bonds in full and desires to exercise its option to purchase the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS, AS FOLLOWS:
Section 1. Approval of Sale. The sale by the City to the Tenant of the Project is hereby approved.
Section 2. Authorization of Documents. The City hereby authorizes and approves a Deed, a Bill of Sale and a Termination of Lease that terminates the Lease and the Assignment of Lease. The Mayor is hereby authorized and directed to execute the Deed, the Bill of Sale and the Termination of Lease Agreement. The Clerk is hereby authorized and directed to attest to such documents, for and on behalf of the City.
Section 3. Further Authority. The Mayor, City Manager, City Clerk and other officers and agents of the City are hereby authorized and directed to execute and deliver such other documents and certificates as may be necessary to transfer the Project to the Tenant, terminate all interest of the City in the Project and carry out the intent of this Resolution.
Section 4. Effective Date. This Resolution shall take effect and be in force and effect from and after its adoption.
ADOPTED by the governing body of the City of Lawrence, Kansas, this 6th day of August, 2013.
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(SEAL) Vice Mayor
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Clerk
EXHIBIT A
The following described real estate located in Douglas County, Kansas:
Commencing at the Southeast corner of the Southeast Quarter of Section 4, Township 13 South, Range 20 East of the Sixth Principal Meridian; thence N 00° 19’ 36” W, along the East line of said Southeast Quarter 740.02 feet; thence N 89° 02’ 50” W, 183.52 feet for a point of beginning; thence continuing N 89° 02' 50" W, 255.44 feet; thence on a curve to the right with a radius of 430.46 feet, an arc length of 178.13 feet; thence N 22° 00' 00” E, 652.16 feet; thence N 69° 00’ 00" E, 402.93 feet; thence on a curve to the left with a radius of 600.00 feet and a chord of 173.80 feet bearing S 20° 53’ 47” E, an arc length of 174.41 feet; thence S 22° 00’ 00” W, 679.64 feet to the Point of Beginning, all in the City of Lawrence, Douglas County, Kansas.