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AN ORDINANCE AUTHORIZING THE CONVEYANCE OF PROPERTY FROM THE CITY OF JONESBORO TO W.A. KRUEGER COMPANY:
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WHEREAS, W.A. Krueger, Company leased lands hereinafter described from The City of Jonesboro, Arkansas pursuant to Ordinance No.1329; and,
WHEREAS, all payments due to the Trustee of the bond indenture authorized by Ordinance No.1330 having been made and the lien securing same having been discharged pursuant to the trust indenture; and
WHEREAS, all lease payments due the City of Jonesboro having been made: and,
WHEREAS, W.A. Krueger Company has elected to exercise its right to purchase the leased property for the sum of One Hundred Dollars ($100.00) pursuant to the provisions of the lease agreement authorized by Ordinance No.1308; and,
WHEREAS, W.A. Krueger Company has an absolute right to have property conveyed to it immediately upon payment of the consideration of $100.00 One Hundred Dollars.
NOW, THEREFORE, be it ordained by City Council for The City of Jonesboro, Arkansas:
Section One: That there be and there is hereby authorized and directed a conveyance for the transfer of real property presently owned by the City of Jonesboro to W.A. Krueger Company, said read estate being described as follows:
A part of the West Half of the Southwest Quarter of Section 26, Township 14 North, Range 4 East, more particularly described as follows: Begin at the Northwest Corner of the Southwest Quarter of said Section 26; thence North 88°44’ East 32.9 feet to the East right-of-way line of Arkansas State Highway #351; thence South along said right of way line 100 feet to the point of beginning proper; thence North 88°44’ East 1282.2 feet to the East line of said Northwest Quarter of the Southwest Quarter; thence South 0°14’ East along said East line 1731.1 feet to the Northeasterly right-of-way line of the St. Louis San Francisco Railroad; thence North 44° 29’ West along the said right-of-way line 1794.3 feet to the East right-of-way of Arkansas State High...
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