1188
RESOLUTION NO. lIY 8
A RESOLUTION AUTHORIZING THB MAYOR AND THB CITY CLBRK
TO BXBCUTB A DBBD TRANSFBRRING TO FIRST NATIONAL BANK
OF NOT 3PRINGB THB CITY'S INTBRBST IN THB REAL PROPBRTY
LBASBD TO THRBB RIVERS PLYWOOD, INC.
WHBRBAS, The City of West Memphis, Arkansas, is the
owner of certain real property which is the subject of
Arkansas Industrial Revenue Bonds - Three Rivers Plywood,
Inc. Project, Series 1984, dated August 17, 1984, as well
as certain fixtures, equipment and other personal property
acquired with the proceeds of said bond issue; and
WHBRBA3, the rights of the City of West Memphis,
Arkansas, were assigned to First National Bank of Hot
Springs, as Trustee, on behalf of the bondholders; and
WHBRBA3, Three Rivers Plywood. Inc., is no longer in
operation at the facilities and the Trustee has requested
the transfer of title from the City of West Memphis to
First National Bank of Hot Springs;
NOW, THBRBFORB, BB IT RESOLVED BY THB CITY COUNCIL OF
THB CITY OF WEST MBMPHI3, ARKANSAS, THAT the Mayor and the
City Clerk are hereby authorized to execute a deed
transferring title of the real property subject of the
Arkansas Industrial Revenue Bonds - Three Rivers Plywood,
Inc. Project, Series 1984, dated August 17, 1984, and the
fixtures and equipment located thereon to First National
Bank of Hot Springs, as Trustee.
ADOPTED this nth day of August, 19,.
7
ITH M. INGRAM,
ATTEST:
DAN CRAFT, C TY K
YOR
AUG 1 i988
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