0694 0001.-710
RESOLUTION NO, 694 (#3 - 2013)
A RESOLUTION IN SUPPORT OF AND AUTHORIZING THE TRANSFER
OF OWNERSHIP FOR CERTAIN PROPERTY DESCRIBED HEREIN
(GENERAL DESCRIPTION: 2201 REDMOND ROAD) TO TRANSFER
AND CERTIFY PROPERTY OWNERSHIP IN ACCORDANCE WI T H AND
UNDER THE RESPONSIBILITIES OF THE CITY THROUGH THE ACT 9
BOND ISSUE OF 1983;AND, FOR OTHER PURPOSES.
WHEREAS, real property at 2201 Redmond Road is encompassed by a 1983 Act 9
Industrial Bond issue on behalf of Conestoga Wood Specialties Corporation through
requirements imposed upon the City and responsible parties under the bond issuance;
and,
WHEREAS,after full satisfaction of said Bond issue, all balances owned the City of
Jacksonville under the long term Lease Agreement, and closure of their operation at the
Jacksonville Plant, Conestoga Wood Specialties Corporation has determined it is in their
best interests to transfer ownership of the real property in question and as described
below. The City of Jacksonville looks forward to the new owners and the opportunities for
employment and growth available for Bryan and Sonya Glaze and the citizens of
Jacksonville. As the City will no longer have any ownership interest in the real property,
as Conestoga has satisfied all obligations under the Act 9 Bond issue and the Lease
Agreement applicable therein,transfer documents have been prepared to the title of said
property to insure proper chain of title is made.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF JACKSONVILLE, ARKANSAS, THAT:
SECTION ONE: The City Council of Jacksonville, Arkansas, supports the
transfer of title to the real property described on the attached Exhibit A to the new
purchaser of said property, Bryan and Sonya Glaze, or Conestoga Wood Specialties
Corporation in exchange for satisfaction of all obligations and payments due under the
issuance of the 1983 Act 9 Bond issue and the applicable Lease Agreement and other
encumbering documents title by Conestoga Wood Specialties Corporation. The Council
authorizes Mayor Fletcher and City Clerk Davitt to execute and submit the appropriate
documentation required to accomplish said property transfer(s) and to terminate the
Lease Agreement. The Council further understands that all monetary amounts due
thereon have been or will be satisfied and exchanged between the City and Conestoga.
000141
RESOLUTION NO, 694(#3-2013)
Page Two
SECTION TWO: Any and all other Resolutions in conflict herewith are
hereby repealed to the extent of said conflict. This Resolution shall be in effect from and
after its date of passage.
APPROVED AND ADOPTED THIS 7-1'5'�DA Y OF FEBRUARY, 2013.
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