Title
RESOLUTION BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS AUTHORIZING THE MAYOR AND CITY CLERK TO SELL PROPERTY LOCATED AT 5601 E. NETTLETON AVE., JONESBORO, ARKANSAS TO CITY WATER AND LIGHT
Body
WHEREAS, the City of Jonesboro, Arkansas desires to sell and did advertise the property at 5601 E. Nettleton Ave. for sell; and
WHEREAS, City Water and Light desires to purchase the property located at 5601 E. Nettleton Ave., owned by the City of Jonesboro, Arkansas and being more described as follows, to wit:
A part of the Northeast Quarter of the Southeast Quarter of Section 35, Township 14 North, Range 4 East, more particularly described as follows: Commence at the Southeast corner of said Northeast Quarter of the Southeast Quarter; thence North 1° 06' East 378.8 feet to the South and West right of way line of U.S. Highway #63; thence North 43° 35' West along said right of way line 725.4 feet to the point of beginning proper; thence South 46° 25' West 200 feet; thence North 43° 35' West 205 feet; thence North 46° 25' East 200 feet to the South and West right of way line of U.S. Highway #63; thence South 43° 35' East along said right of way line 205 feet to the point of beginning proper.
WHEREAS, it is in the best interest of the City of Jonesboro that said property be sold to City Water and Light for the sum of $80,000.00
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 this transaction and accept the purchase price of $80,000.00 due and payable at the time of closing by the buyer.
PASSED AND APPROVED this 9th day of October, 2014.