City of Monroe, LA

ORDINANCE

STATE OF LOUISIANA                                                                             NO.  12,209               

CITY OF MONROE                                                                                   

The following Ordinance was introduced by  Dawson                      , who moved for its adoption and was seconded by  Harvey             :

WHEREAS, by Cash Deed dated July 5, 2018 (REG. 1757697; CB 2552, P 400) and Act of Correction dated July 10, 2018 (REG. 1757954; CB 2552, P 709), the City of Monroe sold a 4.30-acre tract of land to Banks Construction Family Limited Partnership in the Monroe Air Industrial Park;

WHEREAS, the Cash Deed contained a right of first refusal, which provides that if Banks Construction receives a “bona fide offer from a third party to purchase the property conveyed” that is “satisfactory” to Banks Construction, then the City has “the right to purchase the property conveyed . . .  at the price and on the terms of the offer so made”;

WHEREAS, Banks Construction received a bona fide, satisfactory offer from a third party to purchase the property for the equivalent sum of $93,583.70 and has conveyed the offer to the City under the City’s right of first refusal;

WHEREAS, the City has determined that the offer is fair, reasonable, and reflective of the fair market value of the property and the improvements placed thereon; and

WHEREAS, to promote future economic development,City of Monroe desires to exercise its right of first refusal and to purchase the property for the sum of $93,583.70.

            NOW, THEREFORE, BE IT ORDAINEDby the City Council of the City of Monroe, Louisiana, in legal session convened, that Stacey Rowell, Director of Administration, be and is hereby authorized and empowered for and on behalf of the City of Monroe to acquire the following described property for the sum of $93,583.70:

LEGAL DESCRIPTION OF 4.30 ACRE TRACT

ADJOINING RAILROAD SPUR ON EAST SIDE OF DELTA DRIVE

A tract of land in the Monroe Industrial Park, Monroe, Ouachita Parish, Louisiana, as per plat recorded in Plat Book 15 at Page 113 in the parish records, this tract being more particularly described as follows, to-wit:

BEGINNING at a 1/2 inch iron bar set marking the southeast corner of the intersection of Delta Drive (80 feet wide) and the Kansas City Southern Railroad spur (30 feet wide), thence along the curving south line of said railroad spur 308.49 feet (chord bearing N82°21’22”E 307.60 feet) to a 1/2 inch iron bar set; thence S5°07’14”W 650.83 feet to a 1/2 inch iron bar set; thence N84°52’46”W 300.00 feet to a 1/2 inch iron bar set on the east line of Delta Drive; thence along Delta Drive, N5°07’14”E 582.87 feet to the POINT OF BEGINNING; containing 4.30 acres of land, and being subject to any rights or servitudes of record or of use.

            BE IT FURTHER ORDAINED that Stacey Rowell, Director of Administration, is authorized and empowered to execute any and all documents necessary to complete the purchase of the above-described property.

This Ordinance was introduced on the  27th       day of December, 2023.

            Notice published on the  3rd      day of  January             , 2024.

This Ordinance having been submitted in writing, introduced, and published, was then submitted to a vote as a whole, the vote thereon being as follows:

AYES:            Harvey, Ezernack & Dawson

NAYS:            None.

ABSENT:       Woods and Marshall

And the Ordinance was declared ADOPTED on  9th      day of January, 2024.

Gretchen Ezernack                            

CHAIRPERSON

Carolus S. Riley                     

CITY CLERK

Oliver Friday Ellis                 

MAYOR’S APPROVAL

________________________

MAYOR’S VETO