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RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO EXECUTE A LEASE AGREEMENT WITH ST. LOUIS SAN FRANCISCO RAILWAY COMPANY
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WHEREAS, there is a need for additional parking spaces and vehicles access in the vicinity of the shopping district in the sixth ward in the City of Jonesboro; and
WHEREAS, there is presented to the Council a Lease Agreement dated July 10, 1962 wherein St. Louis San Francisco Railway Company is proposed as Lessor and the City of Jonesboro as Lessee which would lease to the City for the sum of One Dollar ($1.00) and for an indefinite period of time, certain property described as follows:
Beginning at a point, 20 feet perpendicularly distant in a southwesterly direction from the center line of Lessor’s Main Tract on the westerly projection of the south line of Lake City Avenue, at Nettleton, Craighead County. Arkansas, thence southeasterly parallel with said Main Tract about 1372 feet to a point 50 feet perpendicularly distant in a northwesterly direction from the center line of Missouri Pacific Railroad Company’s Main Tract; thence southwesterly parallel with last mentioned track about 82 feet to Lessor’s southwesterly right-of-way line which is parallel with and 100 feet perpendicularly distant in a southwesterly direction from the center line of Lessor’s Main Tract; thence northwesterly along said right-of-way line about 1374 feet to the east line of Thorn Street; thence north along the northerly projection of the east line of said Thorn Street about 68 feet to the westerly projection of the south line of aforesaid Lake City Avenue; thence East about 45 feet to the point of beginning. Containing 111,325 square feet, more or less.
NOW, THEREFORE, BE IT RESOLVED by the City of Jonesboro, Arkansas, that the City hereby accept the terms and conditions of the Lease Agreement dated July 10, 1962 by and between St. Louis San Francisco Railway Company, Lessor, and the City of Jonesboro, Arkansas, Lessee, and the Mayor and the City Cl...
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