1533ORDINANCE NO. ~ 5~.3.~
AN ORDINANCE TO WAIVE COMPETITIVE BIDDING FOR THE
PURCHASE BY THE PUBLIC FACILITIES BOARD OF 455.2 ACRES,
MORE OR LESS, FROM MISSOURI IMPROVEMENT COMPANY FOR A
CITY-OWNED INDUSTRIAL PARK, DECLARING AN EMERGENCY AND
FOR OTHER PURPOSES.
WHEREAS, Arkansas Code Annotated Section 14-58-303 allows
waiving of competitive bidding in exceptional situations where such
procedure is deemed not feasible or practical; and
WHEREAS, the Public Facilities Board, pursuant to its authority to
own, acquire, construct, reconstruct, extend, equip, improve, operate,
maintain, sell, lease, contract concerning, or otherwise deal in or
dispose of facilities for securing or developing industry, has
negotiated for the purchase of approximately 455.2 acres, more or less,
from Missouri Improvement Company for the purpose of development
as an industrial park; and
WHEREAS, the purchase price is to be $5,050.00 per acre for a
total of $2,298,760.00; and
WHEREAS, competitive bidding for the purchase of the real
property to be developed as an industrial park would not be feasible
or practical due to the real property being unique in nature, and
WHEREAS, time is of the essence in order to proceed with the
acquisition of the real property and the development of the industrial
park and it would not be feasible or practical to require competitive
bidding for such real property under such circumstances;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS:
1. That competitive bidding be waived for the following item to
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be used by the City, described as follows:
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Approximately 455.2 acres, more or less, to be purchased by the
Public Facilities Board from Missouri Improvement Company for
the purpose of development as an industrial park at a purchase
price of $5,050.00 per acre, for a total of $2,298.760.00
2. EMERGENCY CLAUSE. It having been found and determined by
the City Council of the City of West Memphis, Arkansas, that there is
a need by the City of West Memphis for the acquisition of real
property for the purpose of development of an industrial park in
order to provide industrial development and that it is not feasible or
practical to conduct competitive bidding for such item and that time is
of the essence, an emergency is hereby declared to exist, and this
Ordinance being necessary for the preservation of the public peace,
health, safety and welfare of the citizens of West Memphis, Arkansas,
shall be in full force and effect from and after the date of its
passage and approval.
PASSED AND APPROVED this ~ day of U N$ , 1992.
,e~_ rul .
KE TH M. INGRAM, ayor
ATTEST:
DAb~ CRAFT , C i(~ Cd'e
SPONSORED BY: