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AN ORDINANCE AUTHORIZING THE CONVEYANCE OF PROPERTY FROM THE CITY OF JONESBORO TO THE CARL BAJOHR COMPANY:
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WHEREAS, The Carl Bajohr Company leased certain lands and certain machinery and equipment, hereinafter described, from the City of Jonesboro, Arkansas, pursuant to Ordinance No. 1412 and Ordinance No. 1619; and,
WHEREAS, All payments due to the Trustee of the Trust Indenture authorized by Ordinance No. 1411 and by the First Supplemental Trust Indenture authorized by Ordinance No. 1619 have been made and the liens securing same have been discharged pursuant to the Trust Indenture; and
WHEREAS, All lease payments due the City of Jonesboro have been made; and,
WHEREAS, The Carl Bajohr Company has elected to exercise its right to purchase the leased property for the sum of One Hundred Dollars ($100.00) pursuant to the provisions of the Lease and Agreement authorized by Ordinance No. 1412, and the First Supplemental Lease and Agreement authorized by Ordinance No. 1619; and,
WHEREAS, The Carl Bajohr Company has an absolute right to have the property conveyed to it immediately upon payment of the consideration of One Hundred Dollars ($100.00)
NOW, THEREFORE, be it ordained by City Council for The City of Jonesboro, Arkansas
SECTION l: That there be and there is hereby authorized and directed a conveyance for the transfer of real property and machinery and equipment presently owned by The City of Jonesboro to The Carl Bajohr Company said real property and machinery and equipment being described as follows:
LANDS
A part of the Northeast Quarter of the Southeast Quarter of Section 26, Township 14 North, Range 4 East, being more particularly described as follows: Begin at the Southeast Corner of said Northeast Quarter of the Southeast Quarter; thence South 88°42' West on the 40 acre line 70.0 feet to the point of beginning proper: thence South 88°42' West 417.42 feet; thence North 88°42' East 417.42 feet ; thence South 417.42 feet to the point of b...
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