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RESOLUTION BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS TO ENTER INTO A CONTRACT TO PURCHASE PROPERTY FROM RAY AND REGINA NABORS
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WHEREAS, the City of Jonesboro desires to enter into a contract to purchase ten (10) acres of land located in Jonesboro, Arkansas and owned by Ray and Regina Nabors; and
WHEREAS, the City of Jonesboro desires to acquire said property in order to expand the storage capacity of the existing landfill; and
WHEREAS, the cost for the purchase of said property is $10,000.00 plus normal closing costs; and
WHEREAS, the funding for the purchase of the property shall come from the Capital Improvement Budget; and
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS THAT:
1. The City of Jonesboro, Arkansas shall contract with Ray and Regina Nabors and their selling agent, Darrel Cook Real Estate Service for the purchase of ten (10) acres of property located in Jonesboro, Arkansas for the purchase price of $10,000.00 plus normal closing costs.
2. A copy of the Real Estate Contract is attached hereto.
3. The Mayor, Harold Perrin, and City Clerk, Donna Jackson, are hereby authorized by the City Council for the City of Jonesboro to execute all documents necessary to effectuate this agreement.
PASSED AND APPROVED this 7th day of May, 2013.