HomeMy WebLinkAbout1986-07 Disapproving the Purchase of the Residence at 2550 Bald Mountain Roadr "^-.
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RESOLUTION NO. 7
Series of 1986
A RESOLUTION DISAPPROVING THE PURCHASE OF THE RESIDENCE
AT 2550 BALD MOUNTAIN ROAD.
WHEREAS, the contract for the purchase of 2550 Bald Mountain Road ("the
residence") is expressly conditional and subject to the Town Council's approval; and
WHEREAS, it has recently been brought to the attention of the Town Council that
the residence is insulated with urea-formaldahyde foam insulation ("the
insulation"); and ~~
WHEREAS, the fact that the residence was so insulated was not disclosed to nor
known by the Town Council at the time the contract was entered into; and
WHEREAS, the Town Council is aware that the insulation may possibly pose a
threat to the health of any occupants of the residence; and
WHEREAS,.the Town Council is aware that the insulation may make it difficult to
obtain financing for the residence.
NOW, THEREFORE, be it resolved by the Town Council of the Tawn of Vail,
Colorado, as follows:
The contract far the purchase of the residence is hereby disapproved.
2. The Town Attorney is hereby authorized to either obtain a thirty (30) day
extension of the closing date from the Seller of the residence to fully investigate
all the ramifications the insulation may have an the safety and value of the
residence, or if such extension is not granted, to terminate the contract far the
purchase of the residence.
INTRODUCED, READ, APPROVED AND ADOPTED this 11th day of February, 1986.
ATTEST:
A.
Pamela A. Brandmeyer, T wn Clerk