Res 1665 5/20/1975e
RESOLUTION NO. / . .0 J
RESOLUTION. APPROVING APPRAISALS OF PROPERTIES
ON KELL FREEWAY, AND AUTHORIZING THEIR PURCHASE
OR CONDEMNATION.
WHEREAS, by the 1968 contractual agreement for right-of-way
procurement between the state of Texas and the City of Wichita Falls, the
Board of Aldermen of the City of Wichita Falls has heretofore found that it
is necessary to acquire existing advertising signs located on the properties
hereinafter described within the right-of-way required for the Kell Freeway,
Project 52-380, and approved the appraised values of such signs; and,
WHEREAS, all of these properties will be acquired by the City
except for signs located thereon. These signs have been appraised and the
amount of the approved values were determined from guide lines established
by the National Beautification act relating to removal of signs, adopted by
Texas in Senate Bill No. 3 of the 62nd Legislature.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE
CITY OF WICHITA FALLS, TEXAS, THAT:
Section 1. It is necessary that such signs on the following prop-
erties be purchased by Quitclaim Deed for the named project as follows:
Kell Freeway, Project 52-380
Quitclaim Deed
A tract of land 70' x 170' out of the
SPRR Survey, Abstract 281 on the exist-
ing FWDRR right-of-way.
A tract of land 100' x 100' out of the
SPRR Survey, Abstract 281 on the exist-
ing FWDRR right-of-way.
Combined total of values of signs approved in this resolution----$4,951.00
Section 2. The value of such signs are hereby approved, and
the City Manager is hereby authorized to purchase in the name of the Texas
State Highway Department, or the City of Wichita Falls, by Quitclaim Deed,
the signs located on such tracts of land as shown on the project right-of-
way map. The authorized price to be paid for such signs are the state
approved values as determined from the above appraisals.
Section 3. In the event the City Manager is unable to purchase
such signs for such approved values, he is hereby authorized and directed
to cause to be instituted condemnation proceedings to obtain such signs in
the name of the Texas State Highway Department or the City of Wichita Falls.
PASSED AND APPROVED THIS THE 20th Day of May 1975
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ATTEST:
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datl Ci Clerk
Parcel No. 517
Texas Highway Department
Form D-15-0A8 ADVEkTIS :\C S LG.; AND SITE
Pare 1 of 2 VALUE CO:'iPU' ATIONS
Section No.739 Sign No.O1A Account No. RW 8003-1-22
Address of Property (Milepoint if Rural)_2—ales E. of Harr sonit. on N. side o vG—
ichit -Talls, Texas
Sign Owner and Address Lamar Advertising Co. , P.O. Box 1'll'T, W
Landowner/Lessee and Address Fort 'forth & Denver Railroad, For't-hs YeXaS _
Lease:
Term Year to Year A N
Rate $75.00 per year
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VALUE FOR SIGN
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Type of Sign Poster Panel
Face Material Metal 2,295.00
Face 25 T r
and 300 S.F. 7.65
2,295.00
Dimensions 25' X 12' Area 300 S.F.@$7.65
Supports:
Kind Wood Size
800. x $1.20
No. @
i40.UU
Florescent Lighting 300' x $1 .20 360.00
5,310.00
TOTAL (if cost rather than schedule, give source below)
Physical Depreciation
15%
Other Depreciation
TOTAL DEPRECIATION
NET VALUE
Rounded 4,514.00
Source of cost data, if applicable, and explanation of depreciation:
Cost data is based on the updated sign evaluation dated Feb. 14, 1975.
The sign face is warped. The frame is bent and shows evidence of rust. Backbracing is split
needs painting and other minor maintenance. Support posts are spplit.
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Staff Appraiser
Parcel No. 517
Texas Highway Department
Form D-15-0A8 ADVERTISING SIGN AND SITE
Page 1 of 2 VALUE COAN:PUTATIONS
Section No. 739 Sign No. O1B Account No. RAJ 8003-1-22
Address of Property (Milepoint if Rural) .2 miles W. of Brook Ave. on N. side of Kell Blvd.
Sign Owner and Address National Advertising Co. , P.O. Box 7248 Waco Texas -
Landowner/Lessee and Address Fort Worth & Denver Railroad, Fort Worth„ Texas
Lease:
Term Year to Year Picture of Sign
Rate $75.00 per year
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VALUE FOR SIGN
Type of Sign Painted Bulletin
Face Material Wood
Face and
Dimensions 16' x 6' Area 96 S.F. @ $6.50 624.00
Supports:
Kind Wood Size No.___, @
TOTAL (if cost rather than schedule, give source below)624.00
Physical Depreciation 30%
Other Depreciation
TOTAL DEPRECIATION 187.20
NET VALUE Rounded 437.00
Source of cost data, if applicable, and explanation of depreciation:
Cost data is based on the updated sign evaluation dated Feb. 14, 1975.
One-fourth of the sign face is gone. The remaining sign face is warped, split, and the paint
is faded. Backbracing is split and some missing. Support posts are split.
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Staff Appraiser