CITY OF ARTESIA, NEW MEXICO
NOTICE OF ADOPTION OF ORDINANCE 1115
NOTICE OF ADOPTION OF AN ORDINANCE APPROVING A CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE LOCATED AT 905 AND 911 W. MAIN STREET, ARTESIA, NEW MEXICO, BY THE CITY OF ARTESIA TO WSCI LLC FOR THE PURCHASE PRICE OF $160,000.00
The Council of the City of Artesia, Eddy County, New Mexico, hereby gives NOTICE that after due notice and a public hearing, the Council of the City of Artesia on August 25, 2023, adopted Ordinance 1115 with terms including the following:
ORDINANCE NO. 1115
AN ORDINANCE APPROVING A CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE LOCATED AT 905 AND 911 W. MAIN STREET, ARTESIA, NEW MEXICO, BY THE CITY OF ARTESIA TO WSCI LLC FOR THE PURCHASE PRICE OF $160,000.00.
Pursuant to Section 3-54-1(D), NMSA 1978, the following apply:
1. Terms of Sale: The City proposes to sell the property located at 905 and 911 W. Main Street, Artesia, New Mexico, more particularly described below, for the purchase price of $160,000.00 ($40,000.00 for each of the four lots):
Lots 5, 7, 9, and 11, Block 26, of Artesia Improvement Company Subdivision to the City of Artesia, Eddy County, New Mexico as shown on the official plat thereof on file in the Office of the County Clerk of Eddy County, New Mexico.
2. Appraised Value of the Municipally Owned Real Property: A qualified appraiser appraised the Property’s value as $40,000.00 per lot for a total of $160,000.00.
3. Purchase Price; Time and Manner of Payments on the Sale: The purchase price of $160,000.00 is to be paid with an earnest money deposit (escrowed upon acceptance of the Contract for Purchase and Sale of Real Property) with the summary of payments as follows:
Earnest Money Deposit:
Balance of Purchase Price at Closing
TOTAL | $5,000.00
$155,000.00
$160,000.00 |
4. Purchaser of Property: WSCI LLC, a New Mexico limited liability company, 1700 10th St., Alamogordo, NM 88310.
5. Purpose of Sale: The City finds that the Property is no longer essential to any municipal purpose and the City’s and its citizens’ interests would be best served by the sale of the Property to the private sector business development.
This Ordinance shall go into effect 45 days from its passage on August 25, 2023.
A copy of the entire ordinance is available to interested persons during regular business hours in the Office of the City Clerk, City Hall, 511 W Texas Ave, Artesia, New Mexico 88210.
Summer Valverde
City Clerk