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RESOLUTION NO. �64-`6\gj <br /> RESOLUTION RESCINDING R2024-282 AND AUTHORIZING A <br /> REAL ESTATE SALES AGREEMENT <br /> FOR PROPERTIES BETWEEN VULCAN LANDS INC. AND VULCAN <br /> CONSTRUCTION MATERIALS, LLC,AND THE CITY OF DECATUR <br /> WHEREAS,the City of Decatur has on occasion acquired certain properties to diversify <br /> the community water sources and further increase the City's drought resiliency; and, <br /> WHEREAS, the City of Decatur desires to enter into a Real Estate Sales Agreement for <br /> the properties more particularly described and set forth in Exhibit 1 and commonly known as the <br /> (1)Macon Quarry and the (2)Decatur Quarry bearing Property Identification Numbers 06-11- <br /> 29-400-002, 06-11-29-400-003, 02-11-32-100-004, 02-11-32-200-004; and 04-12-22-253-004 <br /> ("Vulcan Properties"), consisting of approximately 473.56 acres; and approximately 11.75 acres; <br /> and, <br /> WHEREAS, the City Council previously authorized the purchase of the Vulcan <br /> Properties by Resolution No. R2024-282 on August 19, 2024, and; <br /> WHEREAS, the purchase price in Resolution No. R2024-282 is not accurate so that <br /> Resolution No. R2024-282 should be rescinded, and a new Real Estate Sales Agreement be <br /> entered into for the purchase of the Vulcan Properties. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, <br /> ILLINOIS: <br /> Section 1. That Resolution No. R2024-282, passed by Council on August 19, 2024, <br /> approving a Real Estate Sales Agreement for the Vulcan Properties be, and the same is hereby, <br /> rescinded. <br /> Section 1. That the Mayor or City Manager is authorized to purchase the Vulcan <br /> Properties through a Real Estate Sales Agreement, as generally presented in the attached exhibit. <br /> Section 2. That the Mayor or City Manager is authorized to enter into a Real Estate Sales <br /> Agreement for the purchase of the Vulcan Properties for an amount not to exceed Six Million, <br /> Five Hundred Thousand Dollars ($6,500,000.00), exclusive of any related closing costs. <br />