City of Alexandria City Council Regular Meeting Agenda April 2026
City to assume American National Bank mortgages
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Description
Alexandria City Council approved negotiations with American National Bank to assume up to $50,000 in prior mortgages on a property at 220 Northside Drive NE. The move facilitates potential public acquisition or control of the site.
Contract Details
Contract Amount
Not to exceed $50,000 (amount due on prior mortgages to be assumed)
Vendor
AMERICAN NATIONAL BANK
Agency
City of Alexandria, MN
Contract Type
FINANCIAL_SERVICES
Document Date
April 27, 2026
Renewal Info
Single transaction authority to assume existing mortgages up to a $50,000 cap; no recurring renewal component specified.
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