NOTICE OF ORDINANCE
NOTICE
IS HEREBY GIVEN that on the 19th day of October, 2015, the governing
body of the City of Hobbs adopted an ordinance described as follows:
CITY OF HOBBS
ORDINANCE NO. 1091
AN ORDINANCE APPROVING A REAL ESTATE
PURCHASE AGREEMENT TO SELL AND CONVEY A parcel
of land comprised of lot 2 within the Hobbs Industrial Airpark South
Subdivision, containing 3.49 acres, more or less, TO Bridgeway Properties, LLC
FOR THE PURCHASE PRICE OF $80,400.00.
WHEREAS, the City of Hobbs, a municipal corporation, is
the owner of a parcel of land comprised of lot
2 within the Hobbs Industrial Airpark South Subdivision, containing 3.49 acres, more or less, in the Hobbs Industrial Air Park South
Subdivision; and
WHEREAS, the
HIAP industrial areas have been designated by the City of
WHEREAS, unless a referendum election is held, the
Ordinance authorizing the sale of this property shall be effective forty-five
(45) days after its adoption.
WHEREAS,
inclusive in this Ordinance are the following:
1. Terms of Sale:
The City proposes to sell a parcel of land comprised
of lot 2 within the Hobbs Industrial Airpark South Subdivision,
containing 18.00 acres, more or less for the
purchase price of $80,400.00.
The
An Agreement for the Purchase of Real
Estate concerning terms of the sale and Protective
Covenants for the property are part of the Proposed Ordinance.
2. Appraised Value of Municipally Owned
Real Property:
The property has a new appraisal placing value at $25,070 per acre or $87,494
for the 3.49 acre parcel. The municipality has received a viable offer at 92%
of appraised value and 9% higher per acre of past sales.
3. Schedule of Payments:
The Purchase Price is to be paid with an earnest money deposit (escrowed
upon acceptance of purchase agreement) with the balance to be paid as follows:
Earnest Money Deposit: $ 10,000
At Closing Balance of Cash $ 70,400
Total Payments $ 80,400
4. The Amount of Purchase Price:
$ 80,400
5. Purchaser of Property: Bridgeway Properties, LLC
6. Purpose of Municipal Sale:
Industrial and Economic Development - Site acquisition for company providing
Bus Services to the Hobbs School District.
NOW,
THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF
(I)
That the City of
LEGAL
DESCRIPTION
A
parcel of land comprised of lot 2 within the Hobbs
Industrial Airpark South Subdivision, containing 3.49 acres, more or less.
Subdivision Plat is attached hereto to this Ordinance as Exhibit
#1, and made a part of
this Ordinance. Subject to the conditions and terms in Exhibit "2",
Agreement for The Purchase of Real Estate, which is attached
hereto and made a part of this Ordinance.
(II)
That this Ordinance has been published prior to its
adoption and shall be published at least once after adoption, pursuant to
Sections 3-2-1, et. seq., and 3-54-1, et. seq., NMSA 1978, as amended.
(III)
That the effective date of this Ordinance shall be
forty-five (45) days after its adoption by the governing body of the City of
(IV)
That City staff and officials are hereby authorized and
directed to do all acts and deeds necessary in the accomplishment of the above.
A
copy of the ordinance in its entirety is available to interested persons during
regular business hours in the office of the City Clerk, City Hall, 200 East
Broadway, Hobbs, New Mexico. The
ordinance is also available for viewing online at www.hobbsnm.org.
/s/Jan Fletcher
Jan
Fletcher, City Clerk