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RESOLUTION TO PURCHASE PROPERTY WITH THE PARKING AUTHORITY
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BE IT RESOLVED: That the following be recommended to the City Council as additional sites to be purchased pursuant to the Plan of Automobile Parking and Addendas, and as providing in Ordinance No. 998 adopted by the City Council after notice, public hearing and addition to Master Parking Plan:
1. The City of Jonesboro and Jonesboro Parking Authority purchase from the Peoples Property Association:
Lot 2 of Cobb Survey of the Northwest Quarter of the Southeast Quarter of Section 18, Township 14 North, Range 4 East, less a part of said lot described as: Beginning at the Northeast corner of Lot 3 of Collin's Addition; thence East 94 feet; thence South parallel to the East line of Collins Addition 210 feet; thence West 94 feet to Southeast corner of Lot 2 of Collins Addition; thence North to point of beginning;
at a purchase price of $395 per car space, calculated at 280 sq. ft. each, but not exceeding $84,500 total and the Seller be permitted to retain possession of the building on the premises until current leases plus options have expired and to remove same within six months thereafter.
2. The Mayor, City Clerk and Parking Authority issue Certificates of Indebtedness under Ordinance No. 998 for the purchase price.
PASSED AND APPROVED this 6th day of September, 1960.