2078 RESOLUTION NO. X078
A RESOLUTION ACCEPTING THE DONATION OF 514 AUBURN
TO THE CITY OF WEST MEMPHIS FROM THE BANK OF NEW
YORK MELLON, FKA THE BANK OF NEW YORK AS SUCCESSOR
IN INTEREST TO JP MORGAN CHASE BANK NA AS TRUSTEE FOR
GSMPS MORTGAGE LOAN TRUST 2003-2 AND AUTHORIZING
STATED INSTITUTION/TRUST TO ISSUE A DEED TO THE CITY
FOR SAID PROPERTY
WHEREAS,the Bank of New York Mellon, fka the Bank of New York as
successor in interest to JP Morgan Chase Bank NA as trustee for GSMPS Mortgage Loan
Trust 2003-2 has offered to donate a certain property located at 514 Auburn in the City of
West Memphis, Arkansas to the City of West Memphis; and
WHEREAS,Arkansas Code Ann. §14-54-301 provides that municipal
corporations are authorized and empowered to acquire and hold real estate, tenements,
hereditaments, and such other real and personal property as is necessary and proper for
the administration of the affairs of municipal corporations; and
WHEREAS, Arkansas Code Ann. §14-54-302,provides municipal corporations
are empowered and authorized to sell, convey, lease,rent, or let any real estate or
personal property owned or controlled by the municipal corporations; so long as the
execution of all contracts and conveyances and lease contracts shall be performed by the
Mayor and City Clerk,when authorized by a resolution in writing and approved by a
majority vote of the City Council present and participating; and
WHEREAS,the City Council believes the acceptance of the house and lot located
at 514 Auburn serves the best interests of the City of West Memphis and its citizens;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, THAT:
Section 1: That the City of West Memphis hereby accepts the donation of
514 Auburn by the Bank of New York Mellon, fka the Bank of New York as successor
in interest to JP Morgan Chase Bank NA as trustee for GSMPS Mortgage Loan Trust
2003-2 to the City with the understanding that the City must either utilize said property
for its own purpose or transfer said property, whether by sale, donation or otherwise,to
an individual, non-profit or corporate entity.
Section 2: That the provisions of this resolution are hereby declared to be
severable, and if any section,phrase or provision shall be declared or held invalid, such
invalidity shall not affect the remainder of the sections,phrases or provisions.
Section 3: That this resolution shall be in full force and effect from and after its
passage and approval.
Adopted this ( day of PA Ar , 2015.
William H. Johnso , Mayor
Attest:
Phillip a'ara, City Clerk RECEIVED
City Clerk's Office
Date/-ime 4. 2.4- 15
By �.