0827..
~'~~
RESOLUTION NO.
A RESOLUTION AUTHORIZING A MEMORANDUM OF INTENT
BY AND BETWEEN THE CITY OF WEST MEMPHIS, ARKANSAS
AND NATIONAL MACHINE WORKS, INC., PERTAINING TO
THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE
BONDS FOR FINANCING THE COSTS OF ACQUIRING,
CONSTRUCTING AND EQUIPPING INDUSTRIAL FACILITIES;
AND PRESCRIBING OTHER MATTERS RELATING THERETO.
BE IT RESOLVED by the City Council of the City of
West Memphis, Arkansas:
Section 1. That there be, and there is hereby authorized
the execution and delivery of a Memorandum of Intent by and
between the City of West Memphis, Arkansas (the "Municipality"),
and National Machine Works, Inc., an Arkansas corporation (the
"Company"), and the Mayor and City Clerk be, and they are hereby,
authorized to execute and deliver the Memorandum of Intent for
and on behalf of the Municipality. The Memorandum of Intent
is approved in substantially the form submitted to this meeting,
and the Mayor is hereby authorized to confer with the Company
in order to complete the Memorandum of Intent substantially in
the form submitted to this meeting with such changes as shall
be approved by such persons executing the document, their
execution to constitute conclusive evidence of such approval.
Section 2. That the Mayor and City Clerk be, and they
are hereby authorized and directed, for and on behalf of the
Municipality, to do all things, execute all instruments and
otherwise take all action necessary to the realization of the
Municipality's obligations under the Memorandum of Intent.
PASSED: ~,~. / 1981.
APPROVED:
ATTEST:
By
~ Mayor
City Cler
(SEAL)
...,,
. ,
CERTIFICATE
The undersigned, City Clerk of West Memphis, Arkansas,
hereby certifies that the foregoing is a true and compared copy
of a resolution passed at a ~t~uQ~~ session of the City Council
of West Memphis, Arkansas, hel at the regular meeting place of
the Council at ~ 6 o'clock P .m., on the ~_ day of February
1981.
it 1 k
(SEAL)