RES NO 01-02-2013 CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. off,- 2013
BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN,
ARKANSAS, A RESOLUTION TO BE ENTITLED:
A RESOLUTION AUTHORIZING THE MAYOR TO PURCHASE
CERTAIN REAL PROPERTIES NECESSARY FOR THE
CONSTRUCTION AND COMPLETION OF THE NEW VAN
BUREN POLICE STATION, 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 within the Van Buren city limits, to construct the new Van
Buren Police Station; and
WHEREAS, upon the City's best, information, knowledge, and belief the appraised value and the fair
market value of said property is as listed below. The City, and through its designated
agents, has offered in good faith to purchase said property for the amount listed below
plus the City's share of closing costs.
Property Address Legal Description Appraised Value Purchase Price
816 Fayetteville Road Part N/2 of the NE /4 of the NE /4, $114,000.00 $112,000.00
Section 24, Township 09 North,
Range 32 West, Van Buren,
Crawford, Arkansas.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
VAN BUREN, ARKANSAS, THAT:
SECTION 1: The City Council hereby authorizes the Mayor to purchase the afore described real
property for the amount listed above plus the estimated closing costs as listed in Exhibit
"A" utilizing Police Station Bond Funds.
SECTION 2: The Mayor is authorized and directed to execute such documents and instruments as may
be necessary to proceed with and finalize the purchase of said property, and the City
Clerk is hereby authorized and directed to attest same.
IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council, did pass,
approve, and adopt, by a vote of lQ for and against, the orego ing Resolution at its regular meeting
held on the 28 of January, 2013.
l k
Robert D. Freema S
Mayor
ATT TED: �4 P12
Barbie Curtis Candice A. Settle
City Clerk/Treasurer City Attorney
Buyer Eslimaled Closing Cosls
Jlnuny Bell Real Eslale Company
1031 FoyellevllleRocid,. Von Buren, AR 72956
501 .474.9200
It
REALTOR'
DA'1'E: 'is TIME: TYPE LOAN: _s)/
PURCHASERS' s1 i P
i rr—ni
PROPER'T'Y ADDRESS: e/b ICr/ w4-1-v-.
STILES PRICE 600 DOWN PAYMENT LOAN
DEPOSIT RATE TERM YEARS
PREPAID EXPENSES':
First Year.'s Ilome Owner's Insurance Premium
PMI 4.r h1 urance Reserve Ho
Hazard Insurance Reserve
Ad Valorem Tax Reserve Mo
Maximum Prepa r'eresl Da
TOTAL PREPAID EXPENSES
CLOSING COSTS:
Origination Fee (x) (0
Apf?raisal. w C
Credit Report
Survey ,V C
o J
Recording Fees: Deed Mort. Assign (9.0
Flood Certificate
a v
Document Preparation CO.
Title Insurance: Loan Owner
Discount or Warehouse Fee e _c2
V A Funding Fee or Underwriting Fee ice
F1 E o
Revenue Stamps 7
Closing'Fee 90
Tax Service Fee
TOTAL ESTIMATED CLOSING COSTS
,92
DOWN PAYMENT —0—
ES TIMATED AMOUNT DUE AT CLOSING $1 «P.
J
We (1) understand that the above costs are the approximate expenses to be
incurred in connection with the loan Tor which we (I) ace (am) applying.
We (1) are (am) aware that other unforeseeable charges may be incurred. Also,
that this statement takes into. account those costs customarily charged to the
purchaser and does not necessarily reflect those incurred by our (iny)
contractual obligations with the sellers. We (1) understand that this
estimated closing cost disclosure does NOT constitute a loan commitment.
MONT'IILY PAYMENT ESTIMATE WE HEREBY ACKNOWLEDGE THE
principal. and Interest RECEIPT OF THIS ESTIMATED
Home Owner's Insurance CLOSING COST DISCLOSURE.
Ad valorem -Tax
Mortgage. Insurance AMIN&
ESTIMATED •MON'T'HLY PAYMENT