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RESOLUTION TO DECLARE THE CONSTRUCTION OF A SEPARATE AIRLINE TERMINAL BUILDING AT THE MUNICIPAL AIRPORT TO BE IN THE BEST INTEREST OF THE PUBLIC
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WHEREAS, the existence of a scheduled airline and the increased private air traffic to and from the City of Jonesboro has made it desirable and necessary that an airline terminal building, separate and apart from the present hanger facilities, be constructed, and
WHEREAS, the City does not now nor in the foreseeable future have in its general fund and moneys available for such construction, the construction cost of such a building having been estimated to be Twelve Thousand ($12,000.00) Dollars; it is , however, deemed possible under State Laws for the City to issue evidences of indebtedness secured slowly from revenues derived from rental of said building and donations to the City for such purchase, and
WHEREAS, the Airport Commission of the City and other interested persons have recommended this construction as being in the public interest and necessary to proper growth of the City of Jonesboro;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas that the construction of a separate airline terminal building at the Municipal Airport be declared to be in the public interest and necessary to the proper growth of air service to the City, and that the construction of such facilities be undertaken by the issuance of evidences of indebtedness at a rate of interest of no more than six per cent (6%) per annum solely out of revues from rentals of said building and in no way to be a claim upon the City’s general revenues and the Mayor and City Clerk are hereby authorized and directed to execute such evidence of indebtedness for a total not to exceed Twelve thousand ($12,000.00) Dollars principal.
PASSED and ADOPTED this 18th day of March, 1963.