CITY of RAPID CITY Agenda Item Summary
Meeting Date: 2/25/2015		L&F Committee:  2/25/2015
Staff Contact: Mike Maltaverne/Wade Nyberg		City Council: 3/2/2015
Agenda Title:
Authorize Finance Office to Issue a Treasurer's Check to First American Title Company in the Amount of $114,900.31 for the Purchase of the Kathryn Ave Lot
Summary:
The purchase agreement for this lot was approved by Council February 2, 2015.  The closing statement was not received from the title company prior to the deadline for submitting items to the bill list.  As the transition from IFAS to Tyler Munis has begun, it is not possible to add this item to the bill list.  As a result, in order to prevent unreasonably delaying the closing of this transaction, we are requesting issuance of a treasurer’s check.  It requires specific approval for the Finance Office to manually cut a check.
Funding Source & Fiscal Impact (if applicable):
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Recommendation:
Action: Choose an item. Approve Notes: Click here to enter text.
Options:
Attachments & Links:
Purchase Agreement
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