ORD NO 05-2012 CITY OF VAN BUREN, ARKANSAS
ORDINANCE NO. 5 2012
BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN,
ARKANSAS, AN ORDINANCE TO BE ENTITLED:
AN ORDINANCE APPROVING THE PURCHASE OF THE
ASSETS OF DORA RURAL WATER USERS ASSOCIATION
INC.; DECLARING AN EMERGENCY; AND FOR OTHER
PURPOSES.
WHEREAS, the Dora Rural Water Users Association Inc. owns and operates a water distribution
system principally situated adjacent to the water distribution system and corporate
boundary of the City of Van Buren, Arkansas; and
WHEREAS, the Dora Rural Water Users Association Inc. and the City of Van Buren presently have
an existing water contract and maintenance agreement whereby the City, through its Van
Buren Municipal Utilities, sells water to, and provides maintenance for, the water system
of the said Association; and
WHEREAS, the Dora Rural Water Users Association Inc. desires to sell its assets to the City of Van
Buren, and the duly appointed Van Buren Municipal Utilities Commission has expressed
its desire, by Resolution dated April 11, 2012, to purchase said assets subject to the
approval of the Van Buren City Council.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
VAN BUREN, ARKANSAS, THAT:
SECTION 1: The Van Buren Municipal Utilities Commission has negotiated a proposed
Agreement with the Dora Rural Water Users Association Inc. to purchase the assets of
the Association for the approximate sum of $167,600.00, said sum representing the
remaining loan indebtedness to the US Department of Agriculture, Rural Development
Administration, said loan being presently secured by the subject assets, and the purchase
shall be subject to said indebtedness being satisfied forthwith by the Association upon
payment of the aforesaid sum. The Commission is hereby authorized to enter into said
Agreement.
SECTION 2: The Association has expressed the need for this sale and purchase to occur forthwith due
to its present and special circumstances; therefore, an emergency is hereby declared to
exist and this Ordinance shall take full force and effect upon its passage.
IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council, did pass,
approve, and adopt, by a vote of (Q for and 0 against, th bregoing Ordinance at its regular meeting
held on the I6 day of April 2012.
Robert D. Freeman
an
Mayor
ATT STED: PPROVED AS TO FORM:
di allachts
qmor
Barbie Curtis Can ice ett e
City Clerk /Treasurer City Attorney
RESOLUTION
A RESOLUTION RECOMMENDING TO THE MAYOR AND CITY COUNCIL OF
THE CITY OF VAN BUREN, ARKANSAS, THAT THE COMMISSION BE
AUTHORIZED TO ENTER INTO AN AGREEMENT FOR THE PURCHASE OF
ASSETS OF DORA RURAL WATER USERS ASSOCIATION INC.
WHEREAS, the Dora Rural Water Users Association Inc. owns and operates a water distribution
system principally situated adjacent to the water distribution system and corporate boundary of the City of
Van Buren, Arkansas; and
WHEREAS, the Dora Rural Water Users Association Inc. and the City of Van Buren presently have
an existing water contract and maintenance agreement whereby the City, through its Van Buren Municipal
Utilities, sells water to, and provides maintenance for, the water system of the said Association; and
WHEREAS, the Dora Rural Water Users Association Inc. desires to sell its assets to the City
of Van Buren and this Commission, after unanimous consent by its Members, has expressed its
desire to purchase said assets subject to the approval of the Van Buren City Council.
IT IS HEREBY RECOMMENDED to the Mayor and City Council that this Commission,
by and through its Chairman, be authorized to enter into a formal written agreement to complete said
purchase for the approximate sum of $167,600.00, said sum representing the remaining loan
indebtedness to the US Department of Agriculture, Rural Development Administration, said loan
being presently secured by the subject assets, and the purchase shall be subject to said indebtedness
being satisfied forthwith by the Association upon payment of the aforesaid sum.
PASSED this 11 day of April, 2012.
C.E. Dougan, CHAD••
ATTEST:
SECRETARY