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RESOLUTION AMENDING RESOLUTION NO. 2006:62, ESTABLISHING STANDARDS FOR ACQUISITION OF REAL PROPERTY
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WHEREAS, further experience with the effort to acquire real property for public purposes has demonstrated a need to amend the amounts and procedures involved in making such acquisition.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS, THAT:
1. Paragraphs 2 and 3 of Resolution No. 2006:62 are hereby amended to read as follows:
2. That the mayor is hereby authorized to negotiate the acquisition of real property for the City of Jonesboro for public purposes based upon the following:
A. The actual appraised value
B. An additional amount not to exceed 10% of the appraised value if required to negotiate the deal.
C. Such additional amount as may be necessary to cover the property owners actual reasonable expenses in moving, including but not limited to, closing costs, involved in the replacement property. These allocations shall be supported by actual invoices or estimates and shall be submitted by the mayor's office to the appropriate city council committee for approval or change.
3. Acquisition of fee simple title may precede under paragraph 2(a) and (b) and the request for actual reasonable expenses to be submitted and reviewed later. No agreement with the property owner concerning these actual reasonable expenses shall be made until after approval of the appropriate city council committee.
APPROVED AND ADOPTED this 23rd day of February, 2007.