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A RESOLUTION FINDING THAT IT IS TO THE BEST INTEREST OF THE CITY OF JONESBORO, ARKANSAS, TO LEASE AND CONTRACT TO SELL TO THE JONESBORO INDUSTRIAL DEVELOPMENT CORPORATION A PART OF THE PROPERTY ADJOINING THE JONESBORO MUNICIPAL AIRPORT
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WHEREAS, the City of Jonesboro has heretofore acquired acreage on which an airport has been constructed, and certain of the acreage so acquired has been found to be unnecessary for airport uses, and it is found to be in the public interest to lease a portion of said premises with a contractual right to purchase and right to assign the lease and contract to the Jonesboro Development Corporation, organized under Act 404 of the General Assembly of Arkansas for the year 1955; and
WHEREAS, the Airport Commission of the City of Jonesboro has considered and approved the proposed lease and contract and has further determined that the property involved is not required for the purposes originally acquired and the proposed use of the premises and construction to be placed thereon will not interfere with the operation of the airport or use of the other part of the premises for airport purposes, and the Council has considered the terms of the proposed lease and sales agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas.
SECTION 1: That the City council finds that it is to the best interest of the City that the City lease to the Jonesboro Industrial Development Corporation, with option to purchase, with the right and privilege of said Industrial Development Corporation to assign its rights to lease and purchase, that part of the land adjoining the Jonesboro Municipal Airport, approximating 20 acres and lying West of the access road to the Airport hangar, and South of the cone of the East-West run-way extended, together with all improvements constructed thereon. The property and the terms of such lease to be as more particularly described and set out in the attached Lease Agreement, which the Mayor and the City Clerk are authorized and directed to sign, execute and deliver on behalf of the City of Jonesboro.
SECTION 2: The City Council finds it to b to the best interest of the City that the City grant to Jonesboro Industrial Development Corporation an option and contractual right to purchase said property and any improvements to be constructed thereon, and related facilities, on the terms and under the conditions more fully set out in the proposed Lease Agreement which is attached to and made part of this Resolution.
SECTION 3:The Mayor and City Clerk are authorized and directed to execute a good and sufficient Warranty Deed to the premises described in the attached agreement and to execute an Escrow Agreement, copy of which is also attached, and which provides that the escrow agent shall deliver the deed to the Jonesboro Industrial Development Corporation upon payment in full of all the monthly payments provided and the fulfillment of the other requirements of the attached lease and purchase agreement.
SECTION 4: It is ascertained and declared that the lands involved in the forgoing Resolution, not being required by the City, but, on the contrary, being a drain upon the public revenues for the upkeep of same, and that the abandoned and unused property being close to the Airport road and hanger constitutes a hazard and detriment to the lives of the inhabitants of the City, whereas the proposed use of the premises will add greatly to the public welfare, and prompt accomplishment of the contracts concerned in this Resolution being necessary to protect and preserve the lives, health and property of the inhabitants; it is, therefore, declared that an emergency exists and this Resolution, being immediately necessary for the preservation of the public peace, health and safety, shall take effect and be in force from and after its passage.
PASSED and ADOPTED this 8th day of April, 1957.