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RESOLUTION BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS AUTHORIZING THE MAYOR AND CITY CLERK TO PURCHASE VARIOUS PROPERTIES FOR THE PURPOSE OF ESTABLISHING DETENTION PONDS
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WHEREAS, after extensive revision and study by the Administration and staff, it is recommended that the following properties be purchased for the price listed below; and
WHEREAS, an Offer and Acceptance has been made to the following individuals who agree to sell their property to the City of Jonesboro, Arkansas; and
WHERAS, all guidelines have been followed as established by Resolution No. 2007:40 limiting closing cost to Title Insurance, Closing Free, Processing fees and deed recording.
NOW THEREFORE, BE IT RESOLVED, by the City Council for the City of Jonesboro, Arkansas, that:
Section 1. The Mayor and City Clerk are hereby authorized to execute the documents necessary to complete the following transactions:
INDIVIDUALS ADDRESS APPRAISED ACCEPTANCE
VALUE
Harold & Frances Peek 1300 Oakhurst St $32,000.00 February 14, 2007
Bill & Patricia Thomas 1304 Oakhurst St $29,000.00 February 14, 2007
Edward & Joyce Holder 408 Parkview $85,000.00 December 16, 2006
John A. James 412 Parkview $45,000.00 December 16, 2006
Alice Halfacre 500 Parkview $2,250.00 January 19, 2007
Shirley Kuster 502 Parkview $2,230.00 January 22, 2007
Steven & Heather Smallman 504 Parkview $2,230.00 December 16, 2006
Edward & Joyce Holder Vacant Lot/W Highland $32,000.00 December 16, 2006
Edward & Joyce Holder Vacant Lot/W Highland $20,000.00 December 16, 2006
Section 2. The cost as stated in Section 1 above plus other allowable expenses not to exceed 10% of the appraised value shall be paid from existing appropriations for City Drainage Projects, Account Number 07-100-0152-00.
SECTION 3. The City of Jonesboro shall furnish a Warranty Deed upon closing.
PASSED AND ADOPTED this 3rd day of April, 2007.