Title
RESOLUTION BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS AUTHORIZING A SETTLEMENT WITH REALTY ASSOCIATES BROKERAGE AND T. BRUCE BURROW
Body
WHEREAS, the City of Jonesboro was sued by Realty Associate Brokerage and T. Bruce Burrow; and
WHEREAS, the litigation was referred by the court for mediation; and
WHEREAS, a proposed settlement was reached, subject to the approval of the Jonesboro City Council.
NOW THEREFORE, BE IT RESOLVED by the City Council for the City of Jonesboro that:
1. The City of Jonesboro shall settle the pending litigation referenced above for the total sum of One Hundred Eighty Seven Thousand ($187,000.00) Dollars, of said total sum $150,000.00 will be paid by the City of Jonesboro and $37,000.00 will be paid by the APERMA trust.
2. That Mayor Harold Perrin and City Clerk Donna Jackson are authorized to sign such documents necessary to effectuate this Agreement.
PASSED AND APPROVED this 15th day of October, 2013.