1468RESOLUTION NO. ! 4 ~' g
A RESOLUTION TO APPROVE THE AGREEMENT OF PURCHASE AND SALE
BETWEEN THE CITY OF WEST MEMPHIS, THE PUBLIC FACILITIES
BOARD AND WATKINS TERMINALS, INC., AND WATKINS MOTOR
LINES, INC., AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE THE AGREEMENT ON BEHALF OF THE CITY OF WEST
MEMPHIS.
WHEREAS, the City of West Memphis and the City of West
Memphis Public Facilities Board, as sellers, and Watkins
Terminals, Inc., and Watkins Motor Lines, Inc., as purchasers,
have entered into an agreement for the purchasers to acquire
approximately 70 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
and use a truck terminal of up to an approximately 120,000
square feet, a shop of up to an approximately 35,000 square
feet, and a warehouse facility of up to an approximately
250,000 square feet; 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
finds that the Agreement for Purchase and Sale 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 of the City of West Memphis;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, THAT the Agreement for Purchase
and Sale between the City of West Memphis and the City of West
Memphis Public Facilities Board, as sellers, and Watkins
Terminals, Inc., and Watkins Motor Lines, 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.
ADOPTED th i s 3~. day o f Soh ~a r ~ , 191 _ .
AL BOALS, Mayor
ATTEST:
DAN CRAFT, C
SPONSORED BY:
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