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RESOLUTION TO AUTHORIZE THE MAYOR TO REQUEST CITY WATER AND LIGHT ADVANCE FUNDS FOR THE PURCHASE OF ADDITIONAL ACREAGE IN THE INDUSTRIAL PARK
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Be it resolved by the City Council of the City of Jonesboro, Arkansas, as it follows:
1. Whereas, the City of Jonesboro desires to insure the continued development, growth and effectiveness of efforts directed as industrial development; and
2. Whereas, the City of Jonesboro desires to purchase a tract of land compromising approximately 760 acres for use as part of the Jonesboro Industrial Park to provide much-needed space for future plant locations, title to said property to be held in the Jonesboro Industrial Development Commission pending annexation of the property to the City of Jonesboro.
3. Whereas, City Water & Light shares the interest of the City of Jonesboro in providing property conducive to industrial expansion in the Jonesboro Industrial Park and is prepared to advance funds for the above described purchase of additional acreage;
BE IT THEREFORE RESOLVED, by the City Council of the City of Jonesboro, Arkansas, that the Mayor is herewith authorized and directed to request City Water and Light to advance the sum of $760,000.00 for the purchase of additional acreage to be part of the Jonesboro Industrial Park.
PASSED AND ADOPTED this 2nd day of September, 1986.