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RESOLUTION TO EXPRESS APPRECIATION TO MERCANTILE BANK FOR THEIR SERVICES TO THE CITY AND CITIZENS OF JONESBORO AND TO ACCEPT A RIGHT-OF-WAY
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WHEREAS, The Mercantile Bank of Jonesboro has agreed to furnish to the City of Jonesboro, cost free, sufficient right-of-way on Church, Creath and East Streets in the area of the planned new Mercantile Bank Building for the purpose of widening these streets according to the recommendations of the traffic and land use plan adopted by the City Council, and
WHEREAS, the right-of-way to be given has a current market value in excess of $65,000 and is a valuable asset to the City Traffic Program and
WHEREAS, the City Council of the City of Jonesboro desires to spread the following resolution upon the minutes:
RESOLVED, that the City Council recognizes and appreciates that the Mercantile Bank gives to the City of Jonesboro the right-of-way around its new bank at great expense and inconvenience to the bank; that the giving of the right-of-way is in the spirit of true community interest and which will be a great benefit to the entire city.
RESOLVED FURTHER, the City Council hereby accepts the right-of-way offered by the Mercantile Bank and extends to the Board of Directors of the Mercantile Bank its great appreciation for their co-operative attitude and the great interest they have shown in the growth and progress of the City of Jonesboro.
RESOLVED, FURTHER that a copy of the resolution shall be spread upon the minutes of the official minute book and become a lasting tribute to the Mercantile Bank for its outstanding community spirit which was demonstrated by its cooperative attitude concerning the Jonesboro Street Program. That a copy of this resolution be tendered to the Board of Directors of the Mercantile Bank as an expression of the Council’s sincere appreciation.
WITNESS our hands and seals on this 4th day of April, 1966.