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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS AUTHORIZING THE MAYOR AND CITY CLERK TO SELL PROPERTY TO JONESBORO TOOL & DIE COMPANY,INC.
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WHEREAS, the City of Jonesboro desires to sell and the Jonesboro Tool & Die Company, Inc. desires to purchase that property owned by the City of Jonesboro more particularly described as follows, to wit:
A part of NW1/4 of SW1/4 of Section 25, Township 14 North, Range 4 East, being more particularly described as follows: Begin at the Southwest Corner of the NW 1/4 SW 1/4 of Section 25, Township 14 North, Range 4 East; thence North on the Section Line 1066.75'; thence N 88 degrees 42'E305.01'; thence North 247.15 ft to the 40 acre line; thence N 88 deg. 48'45" E on the 40 acre line 1017.66 ' to the 40 acre corner; thence S 0 deg. 03'25" on the 40 E acre line 1313.75' to the 40 acre corner, thence S 88 deg.46'52" W on the 40 acre line 323.98 ' to the point of beginning, containing 38.18 acres, more or less, all as shown on the plat of survey hereon; also known as Lot 1 of the Jonesboro Industrial Mini Park approximately 1.5 acres.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, THAT:
1. The Mayor and City Clerk are hereby authorized to accept the purchase price of $9,000.00;
2. The City of Jonesboro will furnish a Warranty Deed and a policy of Title Insurance on the above described property at closing.
3. This resolution shall take effect immediately upon its passage and approval.
PASSED AND ADOPTED this 4th day of October, 2004.