RES NO 03-02-1979 RESOLUTION NO.Q
A RESOLUTION 0 THE CITY COUNCIL OF THE CITY OF VAN BUREN AUTHORIZING THE
SALE OF THE FOLLOWING DESCRIBED PROPERTY TO MILDRED THOMPSON, ADJOINING
PROPERTY OWNER:
Part of Lote 1 and 2, Block 23, Original Town; beginning
at the Northwest Corner of Lot 1 on East side of 5th Street
at alley in Block 23; thence in a southerly direction
O at right angle with said alley 40 feet to a point of
beginning; thence northeast parallel with said alley, a
distance of 53 feet; thence in a southerly direction at a
right angle with said alley 29.3 feet; thence in a westerly
direction 53 feet, parallel with said alley; thence
northerly 29.3 feet to point of beginning; according to
survey by Rogers and Associates, dated July 14, 1977.
WHEREAS, the Urban Renewal Agency of the City of Van Buren, on behalf
of the City of Van Buren, acquired the above described property located
at 503 Webster Street from heirs of the Thompson Estate; and
WHEREAS, the above described property adjoins Mildred Thompson's property,
and includes a part, of her existing home; and
WHEREAS, Mildred Thompson has requested that the City sell the above
described property to her; and
WHEREAS, The Fair Market Value for the above described property is
based on the original acquisition price of that portion of the
entire tract purchased; and
WHEREAS, the City does not require that property for the construction
of public improvements.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VAN
BUREN, ARKANSAS:
I.
That the Fair Market Value of the above described property is
established at Two Thousand Four Hundred Twenty Four and .68/100 Dollars
($2,424.68), as per the original appraised value at the time of the purchase of
that portion of the entire tract;
II.
That the Mayor and City Clerk are authorized to execute a deed and sell the
property to Mildred Thompson for the established Fair Market Value;
III.
That the funds received from the sale of the property will be deposited
to the City of Van Buren Community Development Program Expenditures
Account, as per DHUD guidelines for use in other approved Community
Development activities.
Passed and approved this the 19th day of March 1979.
ATTEST:
40001
1 -1 Ar
esid
City Clerk Ma or