Laserfiche WebLink
Attorney Vitunac informed the Board that since the price was <br />reduced, we are going to knock a year off on the payment - there <br />will be three payments altogether, including the one at closing, <br />and they are recommending deleting the last sentence under <br />Paragraph 3. Purchase Price and Method of Payment - "The Buyer <br />warrants that all interest payable to the Seller will be tax-free <br />for Federal income tax purposes and, if not, the interest will be <br />adjusted accordingly." <br />Attorney Robert Jackson, speaking for the sellers, confirmed <br />that is agreeable to them. <br />Utilities Director Pinto advised that the Budget Office has <br />informed him that the funding is available, and he assured the <br />Board that from the utilities aspect, they very much like and <br />need the property. <br />Attorney Vitunac stated for the record that the note which <br />will evidence this will state that there is no prepayment penalty <br />and we can pay it off at any time. <br />Discussion continued as to the specific acreage -involved. <br />Attorney Jackson advised that it is actually 148 acres, not 150, <br />and Director Pinto explained that the agreement says that the <br />price will be adjusted on a per acre basis. This -will be <br />surveyed. <br />ON MOTION by Commissioner Wheeler, SECONDED by Com- <br />missioner Bird, the Board unanimously (4-0) author- <br />ized the Chairman to execute the Contract with <br />Isabelle M. Beuttell for purchase of the subject <br />property. <br />JUL 5 1988 59 BOOK 73 u lu 199 <br />