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RES NO 02-03-2007 CITY OF VAN BUREN, ARKANSAS RESOLUTION NO. a -�3 2007 BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN, ARKANSAS, A RESOLUTION TO BE ENTITLED: A RESOLUTION AUTHORIZING THE CITY ATTORNEY TO INITIATE AN ACTION FOR EMINENT DOMAIN, TO CONDEMN CERTAIN PROPERTIES NECESSARY FOR THE CONSTRUCTION AND COMPLETION OF THE VAN BUREN PUBLIC LIBRARY, AND FOR OTHER PURPOSES. WHEREAS, The City has determined that it is necessary to acquire, for the public good and benefit certain real property located at 15 North 15 Street, Van Buren, Arkansas, more specifically Block 25 Part of Lots 4, 5, 6 McGee an Addition to the City of Van Buren in Crawford County in the State of Arkansas, to construct and operate the new Van Buren Public Library. WHEREAS, Upon the City's best, information, knowledge, and belief the appraised value and the fair market value of said property is $45,000.00. WHEREAS, The City, through its designated agents, has offered in good faith to purchase said property at up to fifteen percent (15 over appraised value, specifically $51,750.00. WHEREAS, The owner of said property has refused to negotiate in good -faith and failure to obtain said property could result in project delays that will materially affect the economic viability of the current building plans for the new Van Buren Library which is scheduled to begin construction on or about July 4, 2007. WHEREAS, The acquisition of such interest in the described property is in the public's interest. The City has full authority and power under Arkansas Law to enter upon, take, and condemn private property with just compensation. (A.C.A. 18 -15 -301 et seq.) NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF VAN BUREN, ARKANSAS: SECTION 1: The City Attorney is hereby authorized and directed to initiate condemnation proceedings as set forth above. 1 0 SECTION 2: The Clerk is hereby authorized to pay into the registry of the Circuit Court the sum of $45,000.00 representing its appraised value of the condemned property. IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council, did pass, approve, and adopt, by a vote of (p for and 0 against, the foregoing Resolution at its meeting held on the 26 day of February, 2007. IP Ili Robert 1. Fre- "o ATTESTED: r atAti. Barbie Curtis, City Clerk /Treasurer APPROVED AS TO FORM: N. Donal. Jenkin7 7. 7Th ey