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RESOLUTION TO SELL LAND TO FLINTROL INCORPORATED
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WHEREAS, the Jonesboro Municipal Airport Commission deems it in the best interest of the Jonesboro Municipal Airport to recommend to the City Council of the City of Jonesboro, Arkansas that certain lands located at the Jonesboro Municipal Airport be sold to Flintrol incorporated, and
WHEREAS, Flintrol Incorporated has a fifty (50) year lease on approximately five (5) acres of the land to be sold to Flintrol Incorporated and the Airport Commission receives as rental payment of $175.00 per month, and
WHEREAS, the revenues derived from the sale of the land to Flintrol Incorporated will be used to obtain matching funds from the Federal Aviation Administration, and
WHEREAS, the Jonesboro Municipal Airport Commission has no plans for this parcel of land but to have great need for additional improvements at the Jonesboro Municipal Airport.
BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas, that the City Council authorizes the Mayor and City Clerk to execute any papers or documents necessary to sell the land located at the Jonesboro Municipal Airport to Flintrol Incorporated for a price of $5,000.00 per acre of fraction thereof, subject to the Federal Aviation Administration’s approval.
BE IT FURTHER RESOLVED that the City Council agrees to designate the funds obtained from the sale of the land for use by the Jonesboro Municipal Airport commission for obtaining federal funds to be used for additional improvements at the Jonesboro Municipal Airport.
PASSED and ADOPTED this 16th day if January, 1978.