title
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JONESBORO AUTHORIZING THE ENTRY INTO AN AGREEMENT TO ISSUE BONDS FOR THE PURPOSE OF SECURING AND DEVELOPING INDUSTRY WITHIN OR NEAR THE CITY
body
WHEREAS, the City of Jonesboro, Arkansas, is authorized under the provisions of Act No.9 of the first Extraordinary Session of the Sixty-Second General Assembly of the State of Arkansas, approved January 21, 1960, as amended (the "Act"), to acquire, construct, and equip facilities to secure and develop industry, and to assist in the financing thereof by the issuance of bonds payable form the revenues derived from such facilities; and
WHEREAS, MDR Cartage, Inc., an Arkansas corporation, has evidenced its interest in acquiring, improving and equipping industrial facilities within or near the City of Jonesboro if the permanent financing can be provided through the issuance of bonds under the authority of the Act; and
WHEREAS, the City of Jonesboro desires to assist MDR Cartage, Inc. to expand its operations in or near the City of Jonesboro, and to aid in the financing thereof under the provisions of the Act; and purpose;
NOW, THEREFORE, be it resolved by the City Council of the City of Jonesboro, Arkansas, that:
(1) The Mayor and the City Clerk of the City of Jonesboro, Arkansas, be authorized to enter into an Agreement to Issue Bonds in substantially the form and substance as follows: (Agreement on file in the City Clerk's office).
(2) This Resolution shall be in full force and effect from and after its adoption.
PASSED and ADOPTED this 21st day of September, 1981.