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RESOLUTION CREATING A REAL ESTATE OPTION COMMITTEE AND ESTABLISHING DUTIES
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The City, through the State Turnback Fund, is expected to receive revenues sufficient to improve streets, and the City Council has, after study and recommendation of the Traffic Advisory Commission and advice of Planning Engineers, designated priorities of a program of work streets.
To fully perform the requirements and goals of the recommended work, the Master Street Plan of Jonesboro and “Jonesboro 1980 Plan,” additional right-of-way are required for opening, widening and alignment of streets, and State turnback funds cannot be used for such purposes. In addition, recommendations of the Plan call for 764 additional parking spaces in the Central Business District.
To most efficiently negotiate for and acquire the rights-of-way and properties required, BE IT RESOLVED:
A Real Estate Option Committee is hereby created, consisting of the Mayor, two members of the City Council, and two members to be appointed by the Mayor with approval of the Council. The duties of the Committee shall be to advise property owners, negotiate for, and take options to tracts or right-of-way that have been approved or that may hereafter be approved by the City Council.
Usual and customary expenses for technical services, including city planning, costs of options, title information and for an agent for the Option Committee, are authorized, but no City funds shall be obligated or spent for title to property without approval of the Council.
The Council, subject to prior pledges, and the concurrence of the Board of the City Water and Light Plant, when required, hereby determines and declares that all funds coming into the City’s hands from parking revenue, City Water and Light Plant contributions or payments, vehicles licenses, and County turnback funds are pledged to payment of existing obligations and such future expenditures as may be approved by the Council for capital investments or acquisitions ...
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