RES NO 12-05-2006 CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. 1 3- S -2006
A RESOLUTION AUTHORIZING THE MAYOR TO ACCEPT PROPERTY
DONATED TO THE CITY OF VAN BUREN FOR THE LIBRARY, AND
AUTHORIZING THE MAYOR TO PURCHASE CERTAIN PROPERTY FOR
THE LIBRARY.
WHEREAS, Deyco, Inc. previously donated property to the City of Van Buren
for the construction of the new library; and
WHEREAS, Property adjacent to the property previously donated and owned by
Deyco, Inc. is available to be utilized for the new library; and
WHEREAS, Deyco, Inc. desires to donate an additional lot to the City and to
sell the remaining adjacent lots to the City; and
WHEREAS, Lot 10, the lot Deyco, Inc. desires to donate to the City, has been
appraised and is valued at approximately $41,000.00, and Lots 1, 2
3, 11 and 12 have also been appraised and are valued at
$304,000.00; and
WHEREAS, Deyco, Inc. is willing to sell Lots 1, 2, 3, 11 and 12 to the City for
the sum and amount of $276,000.00, subject to the existing lease
on the property which expires November 30, 2007; and
WHEREAS, The acceptance of the donated lot and purchase of the remainder of
the Tots would provide for future expansion of the library and it
would be in the best interests of the citizens of the City of Van
Buren for the City Council to accept the donated lot and purchase
the remaining lots from Deyco, Inc.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VAN BUREN, ARKANSAS:
SECTION 1: THAT the City Council hereby accepts the grant of property
described as Lot 10, Block 25, McGee Addition to the City of Van
Buren, Arkansas.
SECTION 2: THAT the Mayor is hereby authorized to purchase property and
the City Clerk/Treasurer is authorized to pay for the property
described as Lots 1, 2, 3, 11 and 12, Block 25, McGee Addition to
the City of Van Buren, for a price not to exceed $276,000.00 plus
any necessary and reasonable closing costs, and to execute any and
all documents necessary to effectuate the transfer.
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SECTION 3: TI-[AT any and all rental income from the lease of said property
shall be used for library purposes only.
PASSED AND APPROVED THIS 1 0 DAY OF DECEMBER, 2006.
NIAYOI JOHN GS
ATTESTED:
CITY CLERK/TREASURER