HomeMy WebLinkAbout1962-12-08 Council Minutes - Special Meeting%LNA, CII'Y CiU:.CIi, - ,:;+_.i- . t... „3tur:av 3 1A.2
:1ayor Dye calle•i t:-,e Tjtletinp, t. -.)r••:er •:t j:I� l.ro. irid roll call ;nowr"i all
members present except R.;. -organ. Also ,re5s:nt City kitty. Fizhcr anti :Er. Leon
Spencer, :,r. Lngr. ilit:, :eC �,'7':..1tC:., ..E•ltt:e, aa3f,1n1tUf1.
14r. Odin Strandber; waa pre3cnt and nc any tLe option ':.etw,:er,
Consolidated Utilities Ltd. an r' tLe City. U';4" chir,gc's were na"le and apx,.ed to
Ly both sides. Mr. ..tr1n(!Ler, 1F,:)(" L,:t City Atty. James L.
Fisher insisted 'Sr. Strandberg retain a copy of tie oi•f ion with the a-�erd ^exits.
Tne contract offer from tLe City t:, r.enai Power Corroration for their facilities
was discussed at some lengti.; Council agreed on _mice of $25G,(,,0(,.h4 :i initial
bid. Council also agreed ",i7or Dye should Le s+ithorized to negotiate if nec,!ssar;r.
Mr. :-'cCann presented Resolution #51. "1. That ,iayur ;amen ^. Dye be authorize, to
sign an offer to contract for an option to purchase Y,enai Power Cor,x)r3tion Ly the
City. 2. That the said Mayor be authorized to represent the City in negotiations
for item number five in the said offer and at meetings of Kenai flower Corporation's
board directors and stockholders." :;otio r, r;assed.
The Atty. innouaced he will Le out of Kenai neat ;?on lay, Tuesd-ly aril :•iednesday
and will not be available should anything ari:x with regard to file contracts, etc.
Council declared a recess rather than to adjourn in the event further business
might be necessary later in the day. Recessed 11:30 a.m.
Res,)ectf.iily sub-ilt�ted,
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Mrs. Frances Torkilsen
City Clerk
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Date:
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That Xaybf .TarleS r-iti:,.riz-1 tj
an qf, er to contrlct .` ,❑ opt i:m } , ! ir-
these Kera; !-over Cor•;::,r it ion 1. tnry city.
2.. That the :;did :layer :e authorized to
pAprpsent the City in nepotidtions for
item number five in the said offer ani at
meetings of Y.enai Power Corporation's Board
Director[; and Stockholders.
d Dec 1362
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President Frank Rowley
Kauai Yoder Corporation
Boa 99
Komi, Alaska
7 December 1962
Re: offer of Option Contract
Dear President Rowl,sy:
The City of Imnsi, Alaska, hereinafter called City, offers
to contract with Kauai Power Corporation, hereinafter called
Aaaai rawer, as follows:
1. This offer is intended, upon its acceptance, to be a
binding option granted by Kenai Pacer Corporation to the City /ir
a period of 120 days from acceptance hereof, for the purchase of
all of the assets of WAmi Power, both real and personal, sub-
ject to the conditions set forth herein.
2. The City offers to pay Kenai Power, for its assets,
indluding inventory, valued as of 30 September, 1962, exclusive
of liabilities, the sir► of , plus the
actual cost of any addition# top ant, or ZVoMtures required
to service customers connected after the date hereog, during the
option period.
3. The exercise of the option intended hereby, may be in
less time than 90 days if approval is received for the porch&"
of Ksarai Pawr's assets, leas liabilities, from vote opt the
electorate of the City of Kenai at an election called to authorise
issuance of bands required to purchase the aforedeseribed assets.
4. Upon acceptance of this offer, vhich shall be good for
not to exceed 120 days of date hereof, TAnsi Pmw agrees to
continue the usual course of business and inks no additions to, or
deletions from, the existing system or assets, durisu the option
term, without the prior approval of the -Vity.
S. Komi rover, and its present management, shall coopesate
with the City during the option term and for a transitional per-
iod at days after exercise of the option coatOWlated
to bs orras oa acceptance of this offer.
6, Komi Porter shall malm available its accounting records,
Kenai Parer Corporation Page 2
7 Docember 1962
an inventory of equipa"r, as well as all other records, at
reasonable times to the City for appropriate audits, invsntorias,
and such other verification of records and equipment as may be
eetessary.
!, tjam mereise of the option, physical possession sod
controls shall be assumed within `1 _ days of such exercise
of option.
S. Esecation of a final contract shall not be acceptable
if any eonmittment has been made by Kenai Parer to serve Wild -
rood Station, or cap other long term agreamsnt which sight be a
em4itioa adversely affecting title to the assets contemplated
by the option contract.
9. Parusut foe the assets purchased shall be made upon
reasiviag Sill of Sale from Komi Parer with appropriate
sssuramoa of clear title, such assisances to include but not
be limited to title iasaranes, and releases from any and all
creditors of Znai Porter of any liens or claims upon said assets.
Dated g December, 1%2
At/IYo�.
ACCEMCE
an say of December 1962, Wei Porter Corporation, by
its proaidaat, '�rmk Rowley, hereby accepts the above offer sod
iraats to the said City of Wai an option to parshsN all wets.
beeb Berl sad personal, of Wei Powaar Corporation, eualosiws of
liabilUiss cut esaaabrsnteej, upon Witten notlee sd&"ssd to
the said corporation at the abow by registered at cartified sail.
1MI PAS R CMPMTICX
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(!XCI1jsivC- of Fowl"ral fun':!.).
3. That SdA t-,t..I-' n or
lit,jre for cat-ital iviorovem—)t
eral fun,4s rejuired to for -.ic.. tn#:
tion is tco be su*urnitted.
Tais rew.)!ution is •iioptcd .urLui.,,t is t:.e iatvriti 1,y
Annotated 16-1-35 Ord, 4th --in! iti. is
The undersi '.1nei a -"I actir.;. 'ity of t::,2 City 3f tenaip Alaska,
foes hereLy certify: tat the resulutio!% :;#.-t f..)rti, a true and correct
copy of the pr-w:dInA fDr an :ncrt-a--e in ti:- :.rj;xxe-j or dinned total
experk!itures for capital iriprovement projects, as re4ulirl/ aloptel 3t a meeting
of the City Council duly held on tne 5 - dv of '14--ce-n..er 1jG2; and further that
suck, resolution has been filly recorT-M—in Vx 'o-irr,al of proccedIngs and records
In my off ice.
In Witness viereof, I have noreunto set n-/ ijanj tt.j- 5 IdY of December, 19Q.
(SLAL)
rIty Clergy
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