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A RESOLUTION EXPRESSING THE WILLINGNESS OF THE CITY OF JONESBORO TO PARTNER WITH POST FOODS FOR THE RAILROAD TRACK IMPROVEMENTS IN THE CRAIGHEAD TECHNOLOGY PARK
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WHEREAS, the City accepted funding awarded FY 2018 Consolidated Rail Infrastructure and Safety Improvements Grant funded through the Federal Railroad Administration in RES-21:014; and
WHEREAS, the funding provided the ability to make certain improvements to the railroad track servicing the Craighead Technology Park including the relocation of the industrial lead that serves Post Foods and is located on their property; and
WHEREAS, the relocation of this industrial lead is necessary to minimize delays to vehicle traffic along Arkansas Highway 18 Spur, known locally as Martin Luther King, Jr. Blvd. (formerly Commerce Drive), when Post Foods is being serviced by rail; and,
WHEREAS, Post Foods agrees, per the attached Partnering Agreement, to contribute up to four hundred thousand dollars ($400,000.00) to the City of Jonesboro for the construction project, and
WHEREAS, this funding is utilized as local match for the overall project with the exact amount due computed after the construction bids are received.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS THAT:
Section 1: The City will participate in accordance with its designated responsibilities.
Section 2: The Mayor and the City Clerk are hereby authorized by the City Council for the City of Jonesboro to execute all documents necessary to effectuate the Partnering Agreement.
PASSED AND APPROVED THIS 6TH DAY OF APRIL, 2021.