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4 ~ <br /> t <br /> BEFORE THE CITY COUNCIL <br /> CITY OF BATESVILLE, ARKANSAS <br /> RESOLUTION NO. ` 1 <br /> A RESOLUTION AUTHORIZING THE SALE OF <br /> CERTAIN REAL PROPERTY TO WHITE RIVER PETROLEUM COMPANY, INC. <br /> AND FOR OTHER PURPOSES <br /> WHEREAS, the City is the owner of a tract of land that presently has no <br /> public or governmental use or purpose; and <br /> WHEREAS, said tract of land will have no public or governmental use in <br /> the foreseeable future; and <br /> WHEREAS, White River Petroleum Company, Inc. has expressed a desire <br /> to purchase said lands from the City of Batesville for One Thousand Five Hundred <br /> Dollars ($1,500.00), said purchase price representing fair market value of the <br /> property; and <br /> WHEREAS, the City is desirous of accepting the offer of White River <br /> Petroleum Company, Inc. to purchase the lands; and <br /> WHEREAS, the City is granted the authority to sell unused property under <br /> Arkansas Code Ann § 14-54-302; now <br /> BE IT THEREFORE RESOLVED that the Mayor and the City Clerk are <br /> authorized to execute any Contracts or Conveyances necessary to convey the <br /> following described property to White River Petroleum Company, Inc.: <br /> The East 88.14 feet of Lot 3 of Block 3 of Cotton Yard Addition to the <br /> City of Batesville, Arkansas, containing 0.175 acre, more or less. <br />