HomeMy WebLinkAboutResolutions - R-02-006 - 04/29/2002 - SUPPORT NISRA EXERCISE OPTION TO PURCHASE PROPERTYP.E56VYJTI0N
WHEREAS, the member districts of the Northern Illinois Special
Recreation Association ("NISRA") authorized the Board of Trustees of NISRA to
enter into an agreement with the Crystal Lake Park District ("District") for the
purchase of an office building commonly known as 820 E. Terra Cotta Avenue, Suite
125, Crystal Lake, Illinois ("Property"); and
WHEREAS, said Agreement authorized NISRA to enter into a lease for the
property on a monthly rental based on the monthly principal and interest payments
the District pays on its mortgage on the Property; and
WHEREAS, pursuant to paragraph 8 of said Agreement, NISRA has an
option to purchase the property during the lease period from the District; and
WHEREAS, 70 ILCS 1205/8-10b authorizes the member districts of NISRA
to take any action jointly for the acquisition of real estate relating to recreational
programs for the handicapped.
NOW, THEREFORE, BE IT RESOLVED BY THE Mayor and City Council of
the City of McHenry: That the NISRA Board of Trustees is authorized to
exercise the option with the Crystal Lake Park District to acquire by purchase the
property commonly known as 820 E. Terra Cotta Avenue, Suite 125, Crystal Lake,
Illinois, in accordance with the terms and provisions of the Agreement entered into
between NISRA and the District dated the lst day of June 2000.
PASSED and APPROVED this 291h day of April, 2002.
, I 11. �M �,-? I - S9040"y wy.0-54
Attest:
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