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AN ORDINANCE FOR THE ACQUISITION OF THE MERCANTILE BANK CENTER, AUTHORIZING THE TRADE OF PROPERTY LOCATED AT 515 W. WASHINGTON (CITY HALL) AND FOR THE APPROPRIATION OF FUNDS FROM CAPITAL IMPROVEMENTS, AND DECLARING AN EMERGENCY FOR THE PURPOSE OF EVACUATING THE HUNTINGTON BUILDING WITHIN THE TIME FRAME ESTABLISHED BY THE LEASE AGREEMENT WITH HUNTINGTON MISSION CHURCH (NOTE: THE LEASE FOR CUSI WAS AMENDED BY ORD-13:006 ON FEBRUARY 19, 2013)
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WHEREAS, the Building and Facilities Advisory Committee met on June 13, 2012 and recommended the acquisition of the Mercantile Bank Center rather than to continue with the renovation of the current city hall property; And
WHEREAS, this recommendation was forwarded to the Public Works Committee who reviewed and approved the details of the acquisition.
THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas that:
Section 1. The Mayor and City Clerk are hereby authorized to enter into a real estate contract for the purchase of the Mercantile Bank Center and for the trade of the current city hall based on the legal descriptions attached as Exhibit A and Exhibit B in the contract.
Section 2. In addition, the Jonesboro City Council for the City of Jonesboro, Arkansas hereby appropriates $2,900,000.00 to come from the Capital Improvements line item.
Section 3. This ordinance being necessary to meet the time frame to evacuate the Huntington Building as established by the lease agreement with Huntington Mission Church, there is hereby declared an emergency and this ordinance shall take effect from and after its passage and approval.
PASSED AND ADOPTED this 21st day of August, 2012.