City of Correctionville — Notice of Public Hearing (Sale of Property)

City of Correctionville
LEGAL NOTICE

The City of Correctionville shall hold a public hearing concerning the sale of the following described property located at 816 Fourth Street, Correctionville, Iowa:
Lots 1 and 4, Block 5, Gendreaus 2nd Addition to the Town of Correctionville, Woodbury County, Iowa.

The Hearing will be held September 14, 2020 at the City Hall, City of Correctionville at 7:00 P.M.  Seller will be accepting sealed bids on the above-described property until September 14, 2020, before 4:30 P.M.  The minimum bid must not be any lower than $1.00.  Any person interested in purchasing the property should submit a bid in writing in total dollars accurately describing the real estate to Carla Mathers, City Clerk, at 312 Driftwood Street, PO Box 46, Correctionville, Iowa 51016 on or before 4:30 P. M., September 14, 2020.  The bids on the property will be opened and an auction for the final sale of the property will occur on September 14, 2020, at 7:00 P.M at City Hall, City of Correctionville. The highest bidder on the day of sale will be expected to pay ten percent (10%) of the purchase price on that day and sign a contract for the balance of the purchase price.  A condition of the contract will be that Buyer, within 18 months from September 14, 2020, must construct a new single family dwelling on the property that must have a minimum assessment value of $200,000.00.  The sale will be on contract and warranty deed delivered to the buyer upon fulfillment of the contract.  Closing shall be within 45 days from the date the contract is fulfilled and that is when the unpaid balance shall be paid in full.  Seller shall pay all the real estate taxes that become delinquent as of April 1, 2020.  Buyer shall pay all real estate taxes thereafter.

Possession shall be given at closing.

Any announcements day of sale shall supersede any statements made herein.  Seller reserves the right to reject any and all bids.

Any citizen may file oral or written comments for or against the sale of said property.

City of Correctionville
By: /s/ Nathan Heilman
Nathan Heilman, Mayor

ATTEST:
/s/ Carla Mathers
Carla Mathers, City Clerk

Published in The Record
Thursday, September 3, 2020

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