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RESOLUTION TO CONSTRUCT AN UNDERGROUND PASSAGEWAY ACROSS MAIN STREET AND TO WIDEN WASHINGTON AVENUE
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BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas sitting in regular session this 3rd day of November, 1958:
(1) That the Citizen’s Bank of Jonesboro, Arkansas, an Arkansas corporation, is hereby authorized to construct an underground passageway across Main Street, pursuant to the plans prepared by Elmer A Stuck and Associates, Architects, said plans attached hereto, marked Exhibit A, and made a part hereof as through set out word for word, subject to the approval of the Arkansas State Highway Department.
(2) That the Mayor and City Clerk are hereby authorized and directed to execute a 20 year lease with option to renew for two consecutive terms of 25 years each to the Citizens Bank of Jonesboro, Arkansas, conveying the following described property:
(A) All that property adjacent to the Citizens Bank Building and property leased from the City of Jonesboro, Arkansas said lease dated November 2, 1953, which lies underneath the underground passageway, according to the plans prepared by Elmer A Stuck and Associates, Architects, marked Exhibit A and attached hereto.
(B) The Citizens Bank of Jonesboro, Arkansas, shall pay an annual rental of One Dollar, payable in advance during the term of said lease, the first payment being due on November 10, 1958, and thereafter said payment being due on the 1st day of November of each year.
(3) That the Citizens Bank is hereby authorized to widen Washington Avenue in accordance with plans prepared by Elmer A Stuck and Associates, Architects, marked Exhibit A and attached thereto, and that part of said street so widened may be used by customers of said bank for drive-up facilities of said bank.
PASSED and ADOPTED this 3rd day of November, 1958.