1205RESOLUTION NO. ~ao5
A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY CLERK TO
EXECUTE A DEED REGARDING ARKANSAS LIGHTWEIGHT AGGREGATE
CORPORATION.
WHEREAS, Arkansas Statutes require a written Resolution of
the City Council authorizing the Mayor and City Clerk to execute
deeds for the conveyance of real property; and
WHEREAS, Arkansas Lightweight Aggregate Corporation has
tendered final payment of the basic rent pursuant to a Lease
Agreement dated March 1, 1975, and in conjunction with City of
West Memphis, Arkansas Industrial Development Revenue Bonds -
Arkansas Lightweight Aggregate Project, Series A, dated March 1,
1975, and has notified the City of West Memphis of its intent to
execute the option to purchase as provided in said Lease
Agreement; and
WHEREAS, Arkansas Lightweight Aggregate Corporation, desires
to acquire all properties, both real and personal, including
improvements therein, which were the subject of said Lease
Agreement and bond issue; and
WHEREAS, said property is presently held in the name of the
City of West Memphis, Arkansas;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, THAT the Mayor and City Clerk
are hereby authorized to execute a deed and all other necessary
instruments for the conveyance of the properties, both real and
personal, which was the subject of said bond issue to Arkansas
Lightweight Aggregate Corporation.
ADOPTED this ~ day of ~ ~RC}k , 1990.
~.
KEITH M. INGRAM, Mayor
ATTEST:n
DAN RAF , i rk
SPONSORED BY:
CI y GLc;~li OFf ICE
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