A RESOLUTION AFFIRMING THE EXECUTION OF AND AUTHORIZING CLOSING ON REAL ESTATE CONTRACT TO PURCHASE 3.5 ACRES (+/-) ON RIVERVIEW DRIVE (ELKINS) A/K/A LOTS 11, 12, 13, 14, 15 & 16 BONNELL, WASHINGTON COUNTY, AR.
WHEREAS, Mayor Ledford has executed a Real Estate Contract, subject to Council approval and ratification, to purchase approximately 3.5 acres on Riverview Drive for $55,000.00 plus Buyer’s expenses on a cash sale basis.
WHEREAS, various funding options are being explored, initially the funds will be paid from the General Reserve Fund to take advantage of the agreed price.
WHEREAS, the City would be benefitted in numerous ways if that parcel of land could be acquired at the agreed price.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF ELKINS, ARKANSAS, that:
Section 1: That the Real Estate Contract (as attached hereto) executed by Mayor Ledford to purchase 3.5 Acres (+/-) on Riverview Drive (Elkins) A/K/A Lots 11, 12, 13, 14, 15 & 16 Bonnell, Washington County, AR for $55,000.00 should be and hereby is approved and ratified.
Section 2: That the Mayor and Recorder-Treasurer should be and hereby are authorized and directed to take all necessary and reasonable steps to close on the Real Estate Contract, as attached hereto, and to utilize General Reserve Fund monies to pay the purchase price and closing costs attributable to the City.
PASSED AND APPROVED this _20th__day of July, 2017.
CITY OF ELKINS, ARKANSAS
- BRUCE LEDFORD, Mayor
DELIA FOSTER, Recorder/Treasurer