0127 RESOLUTION NO. 1 2 7- 7 2
A RESOLUTION AUTHORIZING THE PURCHASE OF CERTAIN PROPERTY FROM
THE ARKANSAS SAVINGS & LOAN ASSOCIATION; DECLARING AN EMERGENCY
AND FOR OTHER PURPOSES.
WHEREAS, The City Council of the City of Jacksonville, Arkansas,
desires to purchase, and sees a present need for the purchase of
certain lands lying within the said city; and
WHEREAS, The Mayor of said city has been offered the purchase'
( by the owner of certain lands, which will be more particularly
specified herein, at a price which the City Council feels to be a
, reasonable and fair purchase price;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF JACKSONVILLE, ARKANSAS, That:
1. The City of Jacksonville, Arkansas, does hereby appropriate
the sum of Forty -One Thousand Eight Hundred and no /100 Dollars
(41,800.00) from the City of Jacksonville, Arkansas Water and Sewer
Department, to cover the cost of acquiring said property; and
2. The City of Jacksonville, Arkansas, does hereby further
appropriate an additional sum of Fifty and no /100 Dollars ($50.00)
to cover any additional cost for closing costs, revenue fees, filing
and recording fees or for any other incidental matter in the acquiring
of said property. It being the specific understanding that in the
event said closing costs are in any sum less than $56.00, the amount
not used for such purpose shall be refunded to the Water and Sewer
Department fund of said city.
■ 3. The Mayor of said city, John H. Harden, be and he is hereby
authorized and empowered to enter into an agreement with Arkansas
Savings & Loan Association for the purchase of said land, with all
appurtenances thereunto belonging, more particularly described as:
The North 50 feet of Lot 1, Block 26, Town of Jacksonville,
Arkansas, more particularly described as beginning at the
Northeast corner of Lot 1, Block 26, Town of Jacksonville,
Arkansas, which point is located on the West line of Locust
Street, approximately 159.2 feet North 47 degrees West from
the' center line of U. S. Highway No.`67; thence South 47
degrees East 50 feet to an iron pin; thence South 43 degrees
West 50 feet to an iron pin on the East line of Lot 2, Block
26; thence North 47 degrees West 50 feet to the Northwest
corner of Lot 1, Block 26; thence North 43 degrees East 50
feet to the point of beginning; and
•
The East 25 feet of the North 50 feet of Lot 2, Block 26,
Town of Jacksonville, Arkansas, more particularly described
as beginning at the Northeast corner of Lot 2, Block26, Town
of 'Jacksonville, Arkansas; thence South 43 degrees West 25
feet to a point; thence South 47 degrees East 50 feet to a
point; thence North 43 degrees East 25 feet to a point on the
East line of Lot 2; thence North 47 degrees West 50 feet to
the Northeast corner of Lot 2 and point of beginning. (This
tract lying adjacent to and adjoining the first above
described tract); and
The South 2 feet of the North 52 feet of Lot 1, Block 26,
Town of Jacksonville, Arkansas and the South 2 feet of the
East 25 feet of the North 52 feet of Lot 2, Block 26, Town
of Jacksonville, Arkansas.
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4. The Mayor of said city, John H. Harden, be and he is further
auC'horized and employed to complete the transaction by receiving an
abstract of title examined by the City Attorney, and upon receipt
of an opinion from said City Attorney, based upon said examination,
revealing good and merchantable title to said property, to deliver
to Arkansas Savings & Loan Association, or its duly appointed agent,
the sum of Forty -One Thousand Eight Hundred and no /100 dollars
($41,800.00) as full payment for said land, and to receive therefor
a Warranty Deed granting said land to the. City af- .Jacksonville,
Arkansas.
1 APPROVED AND ADOPTED this 16th day . November, 1972.
J: h . Hard: , 1 a o
ATTEST:
r
Floy Pants, City Clerk
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