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RESOLUTION TO PURCHASE AND ISSUE CAPITAL NOTES IN THE AMOUNT OF $8,500 FOR THE PURCHASE PROPERTY FROM VAN PELT
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BE IT RESOLVED that under provisions of 1123 of the Code of Ordinances, the City of Jonesboro purchase and issue capital notes for the following described property. Upon purchase being completed, the Mayor and City Clerk shall file certificates accurately describing the tract and acknowledging the real estate lien or mortgage securing the notes described in Ordinance 1123:
Lot 4 of Cobb & Lee's Survey of the Southeast Quarter of the Southeast Quarter of Section 18, Township 14 North, Range 4 East, Craighead County, Arkansas.
Purchase price: $8,500.
PASSED and ADOPTED this 17th day of April, 1967.