1606RESOLUTION NO. ~ (v0(-,
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO
SIGN A REAL ESTATE SALE CONTRACT OFFER AND ACCEPTANCE
FOR THE PURCHASE OF THE NBCBANK OF WEST MEMPHIS MAIN
OFFICE BUILDING, 626 EAST BROADWAY, WEST MEMPHIS,
ARKANSAS, AND FOR OTHER PURPOSES.
~, WHEREAS, the C~.ty of West Memphis proposes to purchase from NBC Bank the
rr ro ert located at 626 East Broadwa in West Mem his, consisting of the NBCBank of West
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Memphis main office building; and
WHEREAS, the proposed purchase will be upon terms and conditions set out in a Real
Estate Sale Contract Offer and Acceptance, with the purchase price to be $126,000.00, together
with other valuable consideration; and
WHEREAS, the City Council finds that the purchase of the above described property is
in the best interests of the City of West Memphis and the Mayor should be authorized to negotiate
the final terms of a Real Estate Sale Contract Offer and Acceptance and the Mayor and City Clerk
should be authorized to execute the Real Estate Sale Contract Offer and Acceptance on behalf of
the City of West Memphis.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, THAT the purchase by the City of West Memphis
of the NBC'/Bank of West Memphis main office building located at 626 East Broadway, West
Memphis, Arkansas, is hereby approved and the Mayor is hereby authorized to negotiate the final
terms of the Real Estate Sale Contract Offer and Acceptance and the Mayor and City Clerk are
hereby authorized to sign the Real Estate Sale Contract Offer on behalf of the City of West
Memphis.
ADOPTED this JsT' day of ~ PR1 L. , 1999.
WILLIAM H. JOHNSON, AYOR
ATTEST:
PHILLIP ,CITY CLERK
SPONSORED BY:
RE~E~1~
CITY CLERKS OFFICE
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