2087 RESOLUTION NO. Zo S7
A RESOLUTION TO APPROVE THE PURCHASE AND SALE
AGREEMENT BETWEEN THE CITY OF WEST MEMPHIS,
ARKANSAS, THE PUBLIC FACILITIES BOARD AND SEDIVER USA,
INC.,AND AUTHORIZING THE MAYOR AND THE CITY CLERK TO
EXECUTE THE AGREEMENT ON BEHALF OF THE CITY OF WEST
MEMPHIS.
WHEREAS, the City of West Memphis and the West Memphis Public Facilities Board,
as Sellers, and Sediver USA, Inc., as Purchaser, have entered into an agreement for the Purchaser
to acquire approximately 16.25 acres located in Mid-America Industrial Park; and
WHEREAS, the City of West Memphis Public Facilities Board has considered and
approved the agreement; and
WHEREAS, the intended use of the property is to construct a manufacturing and
assembling facility; and
WHEREAS, the intended use of the property by the Purchaser should result in increased
employment as set out in the agreement; and
WHEREAS, the City Council of the City of West Memphis, Arkansas, finds that the
Purchase and Sale Agreement is in the best interests of the City of West Memphis and that the
Mayor and the City Clerk should be authorized to execute the agreement on behalf fo the City of
West Memphis;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, THAT the Purchase and Sale Agreement between
the City of West Memphis,the City of West Memphis Public Facilities Board and Sediver USA,
Inc., is hereby approved and the Mayor and the City Clerk are hereby authorized to execute the
agreement on behalf of the City of West Memphis, and to take any and all other actions as may
be necessary or appropriate to effectuate the agreement.
ADOPTED this 20`h day of August, 2015.
WILLIAM H,. JOHNSON, MAYOR
ATTEST:
P _ ' ' RA, CITY CLERK