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AN ORDINANCE AUTHORIZING THE CONVEYANCE OF PROPERTY FROM THE CITY OF JONESBORO TO ALTON BOX BOARD COMPANY:
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WHEREAS, Alton Box Board Company leased lands herein-after described from the City of Jonesboro, Arkansas pursuant to Ordinance No. 1175; and,
WHEREAS, all payments due to the Trustee of the bond indenture authorized by Ordinance No. 1176 having been made and the lien securing same having been discharged pursuant to the trust indenture; and
WHEREAS, all lease payments due the City of Jonesboro having been made; and
WHEREAS, Alton Box Board 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 agreement authorized by Ordinance No. 1175; and,
WHEREAS. Alton Box Board 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 1: That there be and there is hereby authorized and directed a conveyance for the transfer of real property owned by the City of Jonesboro to Alton Box Board Company, said real estate being described as follows:
A part of the Northwest Quarter of the Northwest Quarter of Section26, Township 14 North, Range 4 East, more particularly described as follows:
Beginning at the Southeast corner of Lot No. 6 in Block C of Earl Kiech’s Fourth Addition to Jonesboro (formerly Nettleton), Arkansas; thence West 200 feet to the Southwest corner of said lot; thence South 50 feet; thence South and East along the East right-of-way of Kathleen Street to the right-of-way of the St. Louis-San Francisco Railroad; thence East along said right-of-way 875.4 feet; thence Northwesterly along a line parallel with and 60 feet distant from the West bank of Lateral No.3 of Little Bay and Whiteman’s Creek Drainage District No.20 to the South line of Veon C. Kiech Additio...
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