A RESOLUTION TO AUTHORIZE SALE AND CONVEYANCE OF LOT NO. 1 IN STONECREST SUBDIVISION TO THE CITY OF ELKINS TO BRANDON SULLIVAN
WHEREAS, Lot No.1 in Stonecrest Subdivision was conveyed to the City in satisfaction of a green space request by the City;
WHEREAS, Lot No.1 in Stonecrest Subdivision is not suitable for either recreation or as a park;
WHEREAS, Lot No.1 requires maintenance by the City, and if sold and built out would generate ad valorum taxes to the Cty; and,
WHEREAS, the City desires to dispose of this parcel in order to alleviate the responsibility of maintenace and upkeep.
BE IT THEREFORERE SOLVED BY THE CITY COUNCIL OF ELKINS, ARKANSAS,
SECTION 1: The parcel of land described as Lot No.1, Stonecrest Subdivision to the city of Elkins, has little value to the City, is of no use to the City at this time or in the foreseeable future and therefore should be disposed of by sale.
SECTION 2: That sale of Lot No. 1 in Stonecrest to Brandon Sullivan for the sum of $13,000.00 is hereby specifically authorized, the Council determining that such price is fair and reasonable and is fair market value of such parcel.
SECTION 3: The Mayor and Recorder-Treasurer are hereby authorized to execute and deliver a special warranty deed (attached as Exhibit A) conveying Lot No. 1 in Stonecrest Subdivision to Brandon Sullivan fo the sum of $13,000.00 which shall be deposited into the general fund.
PASSED AND APPROVED this 16th day of February, 2017.