0483 RESOLUTION NO. 483 ( #7 - 95)
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
DOCUMENTATION FOR REAL PROPERTY FROM THE CITY OF JACKSONVILLE
TO AGL CORPORATION UPON .RETIREMENT OF THE AGL CORPORATION
PROJECT, SERIES 1980, BOND ISSUE; AND, FOR OTHER PURPOSES.
WHEREAS, the City of Jacksonville is the owner of record
of certain real property currently leased to AGL Corporation;
WHEREAS, AGL Corporation has fulfilled and retired the
$1,000,000 City of Jacksonville, Arkansas, Industrial
Development Revenue Bonds AGL Corporation Project - Series
1980, issued in furtherance of the development of said real
Property;
WHEREAS, AGL Corporation has the right, pursuant to the
lease on the Property, to acquire title to said Property upon
the retirement of the Bonds; and,
WHEREAS, it is desirable and in the best interest of the
City to sell its fee simple interest in the Property to AGL
Corporation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF JACKSONVILLE, ARKANSAS, THAT:
SECTION ONE: The Mayor and City Clerk of the City of
Jacksonville are hereby authorized, for and on behalf of the
City, to have executed the necew:iary documentation from the
City of Jacksonville, Arkansas, to AGL Corporation, for the
transfer of title and termination of Lease Agreement on the
real property described as follows:
Part of the NE 1/4 SE 1/4 of Section 14, and part_ of the
NW 1/4 SW 1/4 of Section 13, all in Township -3- North,
Range 11 West, Pulaski County, Arkansas, and being more
particularly described as follows: Commence at the SE
Corner of said NW 1/4 SW 1/4 of Section 13, thence N
0 degrees 32' E 60 feet to the point of beginning;
•
thence N 0 degrees 32' E 798.95 feet; thence N 88
degrees 29' W 711.57 feet; thence N 2 degrees 38' W 49
feet; thence N 88 degrees 29' W 958.60 feet; thence 5 2
degrees 50' E 310.3 feet; thence S 34 degrees 49' E
• 629.78 feet; thence S 64 decrees 33' E 125.24 feet;
thence S 89 degrees 27' E 1176.55 feet to the point of
beginning.
•
Less and Except:
Part of the NW 1/4 SW 1/4 of Section 13, Township-3-
North, Range 11. W in Pulaski County, Arkansas, more
particularly described as follows: Commencing at the SE
Corner of said NW 1/4 of the SW 1/4 of Section 13;
thence N 0 degrees 32' E 60 feet to the point of
beginning; thence N 0 degrees 32' E 135 feet to a
point; thence N 89 degrees 27' W 442 feet to a point;
thence S 0 degrees 32' W 135 feet; thence S 89 degrees
27' E 442 feet to the point •_-f beginning.
Said officers and those acts necessary to complete the
transfer of title to said property are hereby authorized and
directed for the acknowledgment, delivery, and recording of
said deed in order to consummate the transfer of said real
property to AGL Corporation.
SECTION TWO: This Resolution shall be in effect from and
after its date of passage.
Resolution No. 48.3 (#7-95)
July , 1995
Page Two
SECTION THREE: All Resolutions or parts of Resolutions
in conflict herewith are hereby repealed to the extent of
said conflict.
APPROVED AND ADOPTED THIS b - DAY OF JULY, 1995.
CITY OF JACKSONVILLE, ARKANSAS
BY: G7_-(,I
TOMMY SWAIM, M YOR
ATTEST:
/ ) L
L[J A M. LEONARD, - TY CLERK
ROBE`.T E. B MBURG, C Y ATTOR• Y