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O R O N O- S C H O O L I'D <br />685 Old Crystal Bay Road <br />Long Lake. Minnesota 55356 <br />(612) 473-7313 <br />Independent School District 278 William A. Fenholt <br />Ass't to the Superintendent <br />July 22, 1988 <br />Ms. Jeanne Mabusth <br />Building & Zoning Administrator <br />City of Orono <br />P.O. Box 66 <br />Crystal Bay, MN 55323 <br />RE. PURCHASE OF 131 ACRE PARCEL AND LEASE OF 371 ACRES KITH OPTION TO PURCHASE <br />Dear Jeanne: <br />We have been advised by Haislet Realty to express in writing to you the <br />reason for purchasing the 13# acres and lease of 37j acres, with option to <br />purchase additional parcels, rather than all the land at one time on an <br />installment contr�_rt. <br />The school district cannot purcnase on an installment contract and is, <br />therefore, exercising its right to purchase the tract in separate parcels. <br />We have entered into an agreement to purchase Parcel A (13} acres) and also pre- <br />sently intend to purchase Parcels B, C & D (121 acres each) separately as <br />capital funds become available. It is the present intent of the Orono School <br />Board to purchase all the land eventually. The lease/option agreement is for a <br />ten-year period. <br />No development of this land is contemplated at this time. Its acquisition <br />is simply part of the long range planning of the schoo' district. <br />Sincerely, <br />William A. Fenholt <br />Ass't. to the Supt. <br />WAF:jm <br />cc: Mark Bernhardson, Administrator <br />Serving Independeace—Long Lake —Maple Plain —Medina —Minnetonka Beech —Orono <br />An Equal Oprw+rfunm Ernplo%cr <br />