0776RESOLUTION NO.
WHEREAS, seriously congested traffic conditions exist on
some of the streets and highways through the City of West Memphis,
and
WHEREAS, a Federal-State Aid County Project for Crittenden
County (Job 11948) has been bid for the construction of a street
between the Club Road Interchange and Ingram Boulevard, and
WHEREAS, Southland Racing Corporation has offered to donate
to the City of West Memphis a sum of money not to exceed the sum
of $822,346.74 to assist in the construction of the street between
Ingram Boulevard and Club Road Interchange (Job 11948, FAP SOS-0018(5)
Ingram Blvd. - Club Road (West Memphis) City Street, Crittenden
County), and
WHEREAS, Southland Racing Corporation has tendered its check
in the amount of $156,100.00 to the City of West Memphis and will
deliver to the City of West Memphis an additional sum not to exceed
$666,246.74 which shall be used only for the purpose of assisting
in the obtaining of the right-of-way and construction of said
street and will deliver said additional sums upon request as needed.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS that the gift be, and the same is, hereby
accepted on the terms and conditions and for the purposes herein-
above set forth, and it shall be the aim and intent of the City of
West Memphis to carry out the objects of this gift.
DATED: June 24, 1980
APP VED:
MA
ATTEST
CLE