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1990-003-RES WHEREAS, the City Council of the City of heretofore in Resolution No. 89-067 procurement of easements RESOLUTION NO. 9U":'.Q03 WHEREAS, the City Council of the City of Paris did heretofore in Resolution No. 89-067, authorize the procurement of easements for the Pro Rata 12" Water Line Extension Highway 271 North Project; and, WHEREAS, the proper ty needed for sa i d pro j ec t has been appraised and it is right and proper that the City Attorney offer said appraised amount to the owner of such property, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, That the City Attorney, T. K. Haynes, be, and he is hereby authorized and directed to offer the appraised amount of the property described in Exhibit attached to Resolution No. 89-067 as the same appear on Exhibit A attached hereto and in the event that: such sum is not acceptable to the owner of such property to proceed as authorized in said Resolution No. 89-067. Passed and adopted this 8th day of January, 1990. Eric . Clifford, Mayor ATTEST: ft IV~ MURPHY APPRAISALS dtt.al Eitatt. dlpfHaLit.u W.T. "BILL" MURPHY ASA, IFAS, MGA, SRA and C oniuttanh November 20, 1989 1360 H.MAIN PLACE-SUITE 0 PO. 80X 898 TELEPHONE ta~.33~ PARIS, TEXAS 75~80 Mr. T. K. Haynes, City Attorney City of Pari s Box 1037 Paris, Texas 75460 Dear Mr. Haynes: I submit herewith my market value appraisal report of the damages or enhancement caused by the taking of a .OS-acre utility easement along the west side of U.S. Highway 271 Korth, in Paris, Texas (Boyd property). The purpose of my appraisal is to estimate the damages or enhancement to the property as the result of a taking by the City of Paris, Lamar County, Texas, in due process, to provide a basis for just compensation. Definition of Market Value Market value is the highest price which a property will bring if exposed for sale in the open market for a reasonable time by a willing seller and sold to a willing buyer, neither being under any compulsion to act, both the seller and buyer having full knowledge of all the uses and purposes for which the property is being used and for which it is capable of being used. Definition of Just Compensation The U.S. Supreme Court case of Olson vs. United States, 292 U.S. 246, is most often cited as the authority on condemnation law, and defines just compensation as follows: "Just compensation includes all elements of value that inhere in the prop- erty, but it does not exceed market value fairly determined. The sum required to be paid the owner does not depend upon the uses to which he has devoted his land, but is to be arrived at upon just consideration of all uses for which it is suitable. The highest and most profitable use' for which the property is adaptable and needed or likely to be needed in the reasonably near future is to be considered, not necessarily as the measure of value, but to the full extent that the prospect of demand for such use affects the market value while the property is privately held." Definition of Highest and Best Use Highest and best use is the most profitable likely use to which a property can be put. The opinion of such use may be based on the highest and most profitable con- tinuous use to which the property is adapted and needed, or likely to be in demand for, in the reasonably near future. However, elements affecting value which de- pend upon events or a combination of occurrences, which - while within the realm of possibility - are not fairly shown to be reasonably probable, should be excluded from consideration. Also, if the intended use is dependent on an uncertain act of another person, the intention cannot be considered. Highest and best use ;s also defined as that use of land which may reasonably be expected to produce the greatest net return to land over a given period of time; that legal use which yield to land the highest present value, sometimes called its optimum use. In my opinion, the damages or enhancement to the .OS-acre subject is as follows: Fair market value prior to the taking (1.56 acres) $62,595 . _ .. ., .,. &r:n r:1n GENE BOYD - Lot 10, City Block 307 (Parcel 5) /0 . . Situated within the corporate limits of the City of Paris, Lamar County, Texas, a part of the Reddin Russell Survey and being a part of Lot 10, City Block 307, which was described in Deed dated December 9, 1980, from ABBCOS, Inc. to Gene R. Boyd and wife Etheda Boyd recorded in Book 630, Page 751 of the Deed Records of said county and state, and being more particularly described as follows: BEGINNING at a point at the Southeast corner of a tract of land formerly owned by Celena Luckey, said point also being the Southeast corner of a 51 acre tract of land conveyed C. tv. Luckey by Deed recorded in Book 112, Page 359, Lamar County Deed Records; THENCE with the West Boundary Line of U. S. Highway 271 N 00 43' tv a distance of 150.2 to a point; THENCE S 870 48' W a distance of 15 feet to a point; THENCE S 00 43' E a distance of 149.5 feet to a point; THENCE N 890 42' E a distance of 15.2 feet to the point of beginning containing .05 acres more or less.