City Council Agendas, Packets and Minutes

Unapproved Minutes Council Special Session September 15, 2022 Thursday 5:30 p.m. The special session of the City Council, City of Vermillion, South Dakota was held on Thursday, September 15, 2022 at 5:30 p.m. at the John “Jack” Powell Conference Room. 1. Roll Call Present: Holland, Humphrey, Jennewein, Letellier, Murra, Price, Ward, Mayor Cole Absent: Hellwege 2. Adoption of Agenda 310-22 Council Member Murra moved approval of the agenda. Council Member Holland seconded the motion. Motion carried 8 to 0. Mayor Cole declared the motion adopted. 3. Visitors to be Heard - None 4. Discussion and action on real estate purchase John Prescott, City Manager, reported that the City was a successful bidder for one of three tracts of land from the Stanley Prentis Munger Family Trust that were auctioned today. The City won the right to purchase what was labeled as Tract 3 for the auction. Tract 3 consists of 50 +/- acres of property that is bounded on the east by Stanford Street, on the north by South Dakota Highway 50, on the west by the Over Drive housing development, and on the south by Baylor Street. The property is bordered on West, South, and East sides by property that is already within city limits. The City anticipates that the acquisition of this property will provide numerous opportunities for the community to grow. 311-22 After reading the same once, Council Member Holland moved adoption of the following: RESOLUTION TO AUTHORIZE ACCEPTANCE OF STANLEY PRENTIS MUNGER FAMILY TRUST AUCTION AS IT PERTAINS TO TRACT 3 AND PAYMENT OF EARNEST MONEY AND ACCEPTANCE OF AUCTION TERMS AND CONDITIONS, CLOSING, AND PAYMENT WHEREAS, the Stanley Prentis Munger Family Trust conducted a simulcast auction on September 15, 2022 where three tracts of land were sold; and WHEREAS, the City Manager was authorized to bid on behalf of the City of Vermillion via a Limited Power of Attorney; and WHEREAS, the City was interested in acquiring what was labeled by the auctioneer as Tract 3 and is located at the southwest corner of Stanford Street/Highway 19 and South Dakota Highway 50; and WHEREAS, the property is bounded by South Dakota Highway 50 on the north, the Over Drive housing development on the west, Baylor Street on the south, and Stanford Street on the east; and WHEREAS, the property is bordered on three sides by the City limits and represents a logical area in which to expand the community; and WHEREAS, the City’s winning bid for Tract 3 was $23,000 per acre with a multiplier of 51 for a total price of $1,173,000 for the 50 +/- acre tract. NOW, THEREFORE, BE IT RESOLVED that the Vermillion City Council accepts the auction price for the property described above and authorizes the Finance Officer to deposit the 10% earnest money of $117,300 with First Dakota Title of Sioux Falls, South Dakota as soon as possible; and BE IT FURTHER RESOLVED that the Vermillion City Council herein authorizes the Mayor, City Manager, and/or Finance Officer to make payment to the seller for the purchase price with adjustments thereto for customary closing costs, including but not limited to: taxes proration, title insurance costs, closing costs, and recording fee allocations; and BE IT FURTHER RESOLVED that the Mayor and/or City Manager are authorized and directed to take any and all action and to execute and deliver any and all documents, including but not limited to conveyance documents, agreements, assignments, leases, closing statements, resolutions and other needed documents, and to do all things necessary or appropriate in their discretion to consummate and close the transaction described in the purchase option agreement and amendments thereto according to their terms. Dated at Vermillion, South Dakota, this 15th day of September, 2022.  THE GOVERNING BODY OF THE CITY OF VERMILLION, SOUTH DAKOTA BY____________________________ Jonathan D. Cole, Mayor ATTEST: BY____________________________________ Katie E. Redden, Finance Officer The motion was seconded by Council Member Murra. Discussion followed and the question of the adoption of the Resolution was presented for a vote of the Governing Body. 8 members voted in favor of and 0 members voted in opposition to the Resolution. Mayor Cole declared that the Resolution was adopted. 5. Adjourn 312-22 Council Member Ward moved to adjourn the Council special session at 5:46 p.m. Council Member Price seconded the motion. Motion carried 8 to 0. Mayor Cole declared the motion adopted. Dated at Vermillion, South Dakota this 15th day of September, 2022. THE GOVERNING BODY OF THE CITY OF VERMILLION, SOUTH DAKOTA BY____________________________ Jonathan D. Cole, Mayor ATTEST: BY___________________________________ Katie E Redden, Finance Officer Published once at the approximate cost of ___________.