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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, it is proposed to provide additional access routes to Frolic Footwear parking areas, said traffic situation being very congested at eh present time; and
WHEREAS, there is presented to the Council a Lease Agreement dated August 16, 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 ONE DOLLAR ($1.00) certain property described as follows, to-wit:
Being all of Lots 7 and 22 of Block 9, all of Lots 7 and 22 of Block 10 and the north 40 feet. of Lot 22 of Block 11 in Mathews Addition to the City of Jonesboro, Craighead County, Arkansas, and the north 50 feet. of Lots 6 and 7 of Block 4 in Stephenson’s Addition to said City and all of Lots 1 and 4 of Block B in Brothers Addition to said City and that part of Lessor’s 50 feet right-of-way, that is 25 feet. on each side of the center line of Lessor’s Old JLC&E Main Track, within the limits of Patrick St.; Containing 65, 556 square feet.(1.5 acres).
Said property to be used by the City for street right-of-way purposes.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas, that the City hereby accepts the terms and conditions of the Lease Agreement dated August 16, 1962, by and between St. Louis San Francisco Railway Company, Lessor, and the City of Jonesboro, Arkansas, Lessee, and the Mayor and City Clerk and hereby authorizes and directed to execute said instrument on behalf of the City of Jonesboro.
PASSED and ADOPTED this 15th day of October, 1962.