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ORONO-^UNCIL IU:KTING held APRIL 12, 1976 Page IJ / <br />Dick Benson, City Administrator, stated that in <br />1963, the Village of Orono purchased 44 acres from <br />the Ellis estate to build a sower treatment plant. <br />tUth this purchase, we acquired a piece of ground <br />approximately 80* X 300', which cuts into a <br />DQ^ui^al rectangular shaped lot that Ilr. Kendall <br />Ellis owns and resides at today. <br />KKNDALL. ELLIS rPvOPnRTV <br />Mr. Ellis has requested of the City of Orono an <br />opportunity to buy back this 80* X 300* piece to <br />complete his natural rectangular lot. <br />ll. W. ‘ /f!C’ t'] ^g <br />He would» of course, have to also absorb the cost <br />of an appraiser and surveyor and any other costs <br />that might occur. This purchase would not hinder <br />the City as far as its existing property is concerned <br />and I do reconunend we proceed, with Council approval. <br />The City Council requested staff to inform Mr. <br />Ellis that the City will consider his request <br />when he has submitted a complete survey of the <br />property and its appraised value. <br />• <br />Dick Benson, City Administrator, informed the <br />City Council that the Orono Park Commission has <br />reviewed the property offered by Mr. Dill Sv^een <br />located at Fagerness Point Road. The Park <br />Commission does not find any beneficial use for <br />this particular piece of land and does not <br />recommend City ownership at this time. <br />FAGEICIESS POiHT PROPERTY <br />Mayor Searles requested staff to send a letter <br />to Ilr. Bill Sv;een thanking his for his offer. <br />Paurus moved, Butler seconded, to approve the <br />Orono Police Reserve Agreement and Appointment <br />Motion, Ayes (4) - Mays (0). <br />POLICE RESERVE AGREEMEIIT <br />The Tax Delinquent Property item was tabled until <br />the meeting of April 26, 1976. <br />TAX DELIHOUEHT PROPERTY <br />Dick Denson, City Administrator, informed the City BO..D RLFULD <br />Council that Ehlers & Associates, Inc. and Spring- <br />field Incorporated, municipal consultants, have <br />been reviewing Orono*s improvement bond debt status. <br />The going .interest rate at the time of the sale and <br />the current bond market condition to determine what <br />savings would bo generated through an advance <br />refunding bond sale, or in other \vords, to reduce <br />the City's debt throughout the life of the bonds. <br />this time, the two municipal firuincial consultants <br />have coiipiled information for the Council's review, <br />I v/ill huvu the subject on the Aon I 2G, 1976 <br />i. lunda for Council's decision, ’.'urther reconjn.-r.dar ions <br />t . « » •• \1