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RESOLUTION # <br />A RESOLUTION AUTHORIZING THE PURCHASE OF REAL PROPERTY <br />WHEREAS, that the City of Batesville is in the process of acquiring property for the <br />expansion of Riverside Park as voted for by the Citizens of Batesville; and <br />WHEREAS, that the Ciry is currently leasing properr in a long term leasehold to <br />Independence County Sheltered Workship, Inc. which is located on property designated for <br />Riverside Park I :xpansion; and <br />WHEREAS, that in order to honor the terms leasehold, the City wishes to purchase <br />property, so that the Independence County Sheltered Workshop, Inc. can lease said property and <br />continue to benefit the Citizens of Batesville and allow the City to move forward on park expansion; <br />NOW, THEREFORE BE IT RESOLVED, BY THE CITY COUNCIL OF THE <br />CITY OF BATESVILLE, ARKANSAS <br />SECTION 1: 'That the City of Batesville hereby authorizes the purchase of real property <br />from BN Simpson Holdings, I.LC, for the purchase price of S225,000, more or less, per the real <br />estate purchase agreement which is attached hereto and incorporated herein Im, reference as Exhibit <br />"A". Said real estate purchase agreement contains a legal description of said property. <br />SECTION 2: "That this authorization is conditioned upon the Independence Count <br />Sheltered Workshop, LLC entering into a lease agreement with the City, per the terms of the <br />attached lease attached hereto as I-:xhibit "B" and incorporated herein by reference. <br />PASSED AND :\PPROVI D this _'h day of.1une, 2024. <br />Rick Elumbaugh <br />Mayor <br />City of Batesville <br />Denise Johnston <br />City Clerk <br />City of Batesville <br />