7.0. EDSR 08-08-2005 - Laserfiche WebLink

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• EXTRACT OF MINUTES OF MEETING OF THE BOARD OF COMMISSIONERS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF ELK RIVER HELD: August 8, 2004 Pursuant to due call and notice thereof, a regular meeting of the Board of Commissioners of the Economic Development Authority of the City of Elk River, Hennepin County, Minnesota, was duly called and held at the City Hall in said City on Monday, the 8th day of August, 2005, at o'clock p.m. The following members were present: and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION AUTHORIZING EXECUTION OF A PURCHASE AGREEMENT WHEREAS, the Economic Development Authority of the City of Elk River, Minnesota (the "Authority")has caused to be re ared Purchase A eement(the "Purchase Agreement") between the Authority and edical Extrusion Technolo Inc. a California corporation(the "Developer"), or a related entity to the Developer, in connection with the sale of certain real property by the Authority to the Developer(the "Project") under Minnesota Statutes, Section 469.105. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of Elk River as follows: Section 1. The Board of Commissioners hereby determines that the sale is advisable and approves the Purchase Agreement in substantially the form submitted, and the President,Vice President and Executive Director are hereby authorized and directed to execute the Purchase Agreement on behalf of the Authority; and Section 2. The decision to sell the property is placed on the records of the Authority as of the date hereof. The motion for adoption of the foregoing resolution was duly seconded by member and, after full discussion thereof, and upon a vote being taken thereof, the following voted in favor thereof: • and the following voted against same: 1792351v1