HomeMy WebLinkAbout2005-01-10 Agenda Subject to change as finalized by the City Clerk. For a final official copy, contact the City Clerk's Office 356-5040.
I
I City Hall
410 E. Washington www.icgov.org
ITEM NO. I CALL TO ORDER
Roll Call
ITEM NO. 2 CONSIDER A RESOLUTION AUTHORIZING THE MAYOR TO SIGN
AND THE CITY CLERK TO ATTEST TO THE RELEASE A MORTGAGE
O~,-I~, ON UNIT l-A, TOWER PLACE AND PARKING, A/K/A "THE
COTTAGE".
Comment: On December 27, 2000, the owner of Unit l-A, Tower
Place and Parking, a/k/a "The Cottage" executed a Second
Mortgage in the amount of $180,000.00 to secure a loan from the
City for said amount as part of the City's sale of the property. The
owner is now refinancing and the City's loan is being fully paid.
Upon payment in full the owner will have met the obligations
contained in the Promissory Note and Mortgage, so it is the City's
responsibility to release the mortgage upon payment in full. This
resolution authorizes the Mayor to execute and the City Clerk to
attest the appropriate Mortgage Release.
Action:
ITEM NO. 3 CONSIDER A MOTION TO ADJOURN THE SPECIAL MEETING
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