Resolutions

RESOLUTION NO. 2008-21

WHEREAS, the City Council of Elkins, Arkansas, has this date been presented with an Offer and Acceptance negotiated by Jack Ladyman, Mayor, with Rob Sample proposing that the City acquire a parcel of real estate and improvements from the Scarborough Revocable Trust u/t/d February 28, 2007, for use as a multi-use City Administration Building.

WHEREAS, Rob Sample has agreed on behalf of the Scarborough Revocable Trust u/t/d February 28, 2007, to sell the parcel of real estate and improvements to the City for use by the Elkin's Administration for the sum of Two Hunderd Ninety-Five Thousand and and no/100 Dollars ($ 295,000) with the parties paying their specified share of all costs associated with the conveyance as set forth in such Agreement.

WHEREAS, the City is in need of a larger building to house various City departments and possibly the library which is accessible to the citizens with ample parking.

WHEREAS, the location of this parcel of real estate and the adaptability of the building situated thereon makes this property nearly ideal for location of the multi-use City Administration Building.

WHEREAS, the costs to the City associated with acquiring the parcel of real estate and improvements including rezoning, in addition to legal fees, and recording expenses are not expected to exceed $5 ,000.00.

BE IT THEREFORE RESOLVED BY THE CITY COUNCIL OF ELKINS, ARKANSAS, that after due deliberation and consideration of the attached Offer and Acceptance, regarding acquisition of the parcel of real estate and building from the Scarborough Revocable Trust u/t/d February 28, 2007, the · Council has determined that the interests of the City, its residents and occupants will be best served by accepting and entering into said Agreement and acquiring the parcel of real estate and building from the Scarborough Revocable Trust u/t/d February 28, 2007, for the aforesaid price plus the City's share of the costs/expenses of the transaction.

The Mayor and Recorder-Treasurer should be and hereby are authorized to execute and tender to the Seller (the Scarborough Revocable Trust u/t/d February 28, 2007) the attached Offer and Acceptance and one earnest money check of $5000, drawn on the general fund account and to take all steps necessary to secure financing as specified in such Agreement.

The Mayor and Recorder-Treasurer are also hereby authorized to take all necessary steps to obtain clear title to the parcel of real estate subject to a first mortgage to finance the purchase (on terms as set forth in the contract) and to pay the City's share of the costs associated therewith from the funds of the City of Elkins General Fund.

Passed and Approved this 24rd day July, 2008.