HomeMy WebLinkAboutOrdinance 701 ORD114ANCE N0, 701
Aid 011JINANCE PROMING FOR TH7 ACCEPTANCE OF A DEED CONVRYIfIG CERTAIN
LANDS TO TIM CITY OF FAYETTi;VILLt , ARKi, NSAS, AND 1011ZTid's PU3CHASE FitICE
THEW,
iIIEREAS , The growth of aviation and the este:blishment of airlines through-
out the United States brings into profitable prominence those cities which
are provided with airport facilities , and
T; MUMS, a deed conveying suitable lands for the establishment of an air-
port is tendered to the Gity of Iayette•rille , :rkansas by the South Mountain
Develo; :aaent Compa;ly, a nd
the purchase price thereof is reasonable and just, and tiddthin the
ability of said City to pay,
T17TIP.FOR".. H'.i IT CRDATTIED BY Vi: CITY COMICIT. OF TH': CITY OF FAYSTT IILL& :
1 . That said deed conveying the lands therein set forth and
described be ,' and the same is hereby accepted .
2 . That the Mayor and the City Clerk of said City be , and they azo
hereby authorized to issue warrants for the purchase nri.ce of the � said
lands upon the delivery to the :payor of said deed, conveying merchantable
title to said lands , said warrants to bear date of such delivery, to be
payable out of the General Fund of th:: City of Fayetteville, Ark. , and to
be payable to the South Mountain Development Company or to such person,
firm, or corporation as may ,e designated by said Company, and payable in
the amounts and at the times hereini. fter set forthe to-vrit;
1 wgrrant for 41 , 300. 00 payable one year after date
$11240. 00 two
; 10180. 00 three
$13120. 00 four
y12060. 00 five
3 • This ordinance shall take effect and be in Porde from and after
its passage , approval , and publication, and all ordinances or parts ,
thereof in conflict herewith be , and the sa: e are hereby repealed.
MICROFILMED
DATE OCT 5 1978
March 27 , 1929 REEL] 3