RES NO 10-02-2000 CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. 4- Q -2000
A RESOLUTION AUTHORIZING THE MAYOR TO SIGN AN OPTION TO
SELL PROPERTY LOCATED IN THE 400 AND 500 BLOCKS OF SOUTH 2
STREET IN THE CITY OF VAN 13UREN.
WHEREAS, Union Pacific Railroad Company wishes to enter into an Option to
Purchase property located in the 400 and 500 blocks of South 2
Street in the City of Van Buren for consideration of $1,850.00; and
WHEREAS, Said option will grant Union Pacific Railroad Company the sole
and exclusive option to purchase said property for the sum of
$37,000.00 less the consideration paid for the option on or before
December 31, 2000; and
WHEREAS, Said property has been appraised and the value of the property
determined to be $37,000.00; and
WHEREAS, Said purchase, if completed, will not interfere with current uses of
public property in that location.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VAN BUREN, ARKANSAS:
SECTION 1: THAT the City Council hereby authorizes the Mayor and City
Clerk to execute an Option to Purchase agreement granting Union
Pacific Railroad the sole and exclusive option to purchase the
above- described property upon receipt of the sum of $1,850.00.
PASSED AND APPROVED THIS DAY OF OCTOBER, 2000.
MAYOR JO R
(galS),W2-
CITY CLERK/TREASURER
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