0705RESOLUTION N0. 705
TAYLOR MACHINE WORKS, INC.,
PAYMENT IN LIEU OF TAXES.
WHEREAS, Taylor Machine Works, Inc., has recently
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proposed to pay the City of West Memphis, Arkansas, a sum
of money over a period of years in lieu of taxes; and,
WHEREAS, the City of West Memphis agrees to the
sum of money offered by Taylor Machine Works, Inc., on the
terms outlined by Morris Fair, the Bond Underwriter for the
firm; and,
WHEREAS, the City of West Memphis is very appreciative
of getting this fine industry;
THEREFORE, BE IT RESOLVED by the City Council of the
City of West Memphis, Arkansas, that the City of West Memphis
consents to payment of the following amount of money in lieu
of taxes, listed as follows:
1980 $15,000
1981 $16,500
1982 $18,000
1983 thru 1989 $20,000
(or until the bonds are paid in full)
ADOPTED this ~1, ~ day of ~,.~..,, ~ ~ h ~ ,
1979.
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MAYOR
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