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RESOLUTION TO ISSUE AND SELL CAPITAL NOTES IN THE AMOUNT OF $80,000 FOR IMPROVEMENTS AT THE JONESBORO MUNICIPAL AIRPORT.
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WHEREAS, it is considered desirable and necessary to improve the Jonesboro Municipal Airport so that it may become a more effective part of the national system of public airports, and
WHEREAS, the Federal Aviation Agency of the United State Government desires to locate a flight service station at Jonesboro Municipal Airport, subject to the approval by Congress of the budgetary submission of the Federal Aviation Agency, and
WHEREAS, it is necessary in order to have such flight service station located at Jonesboro Municipal Airport that the City of Jonesboro furnish to the Federal Aviation Agency a suitable building and structure to house such flight service station;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Jonesboro, that the Mayor and the City Clerk are authorized and directed, pursuant to the provisions of Ordinance #1123, to issue and sell Capital Notes of the City of Jonesboro in the face amount of $80,000.00. The form of such Capital Notes shall be as prescribed in Ordinance #1123, and such Capital Notes shall be subject to all terms, conditions and provisions contained in Ordinance #1123, and the payments of such Capital Notes, plus interest, shall be from the revenues as specified in Ordinance #1123. The proceeds received from the sale of such Capital Notes shall be used for the purposes of clearing land and constructing a building, which is suitable for use by the Federal Aviation Agency as a flight service station, including access roads and walkways, at Jonesboro Municipal Airport, and for architectural, engineering, planning, research, data and costs necessary, incidental or deemed to be advisable, connected with or related to the construction of such improvements, and for those purposes only.
PASSED and ADOPTED this 30th day of January, 1967.