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ORDINANCE BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS AUTHORIZING THE OFFER AND ACCEPTANCE TO PURCHASE PROPERTY ON HWY 18 AND TO AMEND THE 2016 BUDGET FOR THE AMOUNT OF THE PURCHASE
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WHEREAS, the City of Jonesboro desires to purchase the East 105 feet of the South 210 Feet of the Southeast Quarter of the Southeast Quarter of Section 21, Township 14 North, Range 5 East, LESS RIGHT OF WAY FOR HIGHWAY NO. 18 ALONG SOUTH SIDE THEREOF; and
WHEREAS, the City of Jonesboro desires to acquire said property in order to place a “Welcome to Jonesboro” sign; and
WHEREAS, the cost for the purchase of said property is $15,000.00 plus normal closing costs; and
WHEREAS, the funding for the purchase of the property shall come from the Capital Improvement Budget.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS THAT:
1. The City of Jonesboro is hereby authorized to execute an Offer and Acceptance to purchase the following described property:
The East 105 feet of the South 210 Feet of the Southeast Quarter of the Southeast Quarter of Section 21, Township 14 North, Range 5 East, LESS RIGHT OF WAY FOR HIGHWAY NO. 18 ALONG SOUTH SIDE THEREOF.
2. The Mayor and City Clerk are hereby authorized to execute the documents necessary to complete this transaction at a price of $15,000.00 to come from capital improvements.
3. Budget Ordinance #15:069 (adopted January 5, 2016) as amended during 2016 to include the purchase of the above mentioned property.
PASSED AND APPROVED on this 19th of July, 2016.