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Albany County School District No. 1 approves property-sale signature authorization and accepts tennis-court offer
Summary
Trustees authorized specific district officers to sign documents for property transactions (language revised to clarify any one listed official may sign) and accepted a $359,000 purchase offer for the 11th & Reynolds tennis-court property, authorizing execution to close the sale.
The Albany County School District No. 1 Board of Education approved a resolution authorizing specific district officers to execute documents required to complete property sales and also accepted a full-price $359,000 purchase offer for the 11th & Reynolds tennis-court property.
Staff explained the title company requested a resolution naming who was authorized to sign closing documents. The proposed resolution listed the board chair, the superintendent and the chief financial officer. One trustee questioned whether the language implied all three signatures were required, asking whether it should read "or" instead of "and." Legal counsel advised that the resolution authorizes the named people to sign and does not force three signatures; staff agreed to amend the language to clarify that any one of the listed officers may execute documents when appropriate.
The board subsequently considered a separate resolution to accept the purchase offer from 737220 Development LLC for $359,000 for the 11th & Reynolds property (tennis courts). The board moved, seconded and approved the resolution authorizing acceptance of the offer and execution of necessary documents.
What happens next: staff will ensure the resolution language is explicit for title-company purposes and proceed with closing steps on properties that the board has authorized for sale.
