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MINUTES OF A SPECIAL SESSION OF THE BOARD OF DIRECTORS
May 9, 1978
The Fayetteville City Board of Directors met in special session on May 9, 1978,
4:30 p.m., in the Directors Room of the City Administration Building.
PRESENT: Directors Ernest Lancaster, David Malone, Philip Colwell, Ann Henry,
John Todd, and Paul Noland; City Manager Don Grimes, City Attorney Jim
McCord and City Clerk Darlene Westbrook.
ABSENT: Director Al Hughes
OTHERS PRESENT: Representatives of the news media.
CALL TO ORDER
Mayor Ernest Lancaster called the special session to order for the purpose of
considering sale of Industrial Park property to American Air Filter Company, In-
corporated, a Deleware corporation.
RESOLUTION AUTHORIZING MEMORANDUM OF INTENT
238.1 The City Attorney read a resolution authorizing a memorandum of intent by and II/between the City of Fayetteville and the American Air Filter Company pertaining to
the sale of Industrial Park property and the issuance of industrial revenue bonds
for financing the costs of acquiring, constructing and equipping industrial facilities.
238.2 Director Todd commented that the company's 1977 financial report reflected annual
sales increases for the past 10 years and that it did not indicate any erratic fluctua-
tions. He said he saw no potential problems with the company's financial stability.
238.3 Chamber of Commerce President Dale Christie was present to inform the Board of
the company's activities and the product which will be manufactured at the Fayetteville
plant. He said the plant was projected to employ 150-200 persons in the manufacture
of glass media for air filter systems. He said the Industrial Park Committee recommended
the sale of Lot 7 (12.95 acres) at a price of $4,000 per acre with $500 per acre of
the purchase price being set aside in escrow for the purpose of participation in the
expense of paving Black Oak Road. He said the company had clearancefrom federal and
state environmental regulatory agencies to operate in Arkansas. He said the company
had been advised of the City's water and sewer regulations and assured that their
plant would comply.
238.4 In a related matter, Christie intormed the Board that the Industrial Park Committee
Had voted in favor of requestingthe City park department to develop a small in
the northwestern section of the park for park purposes. He said the possibility had
been discussed with the parks committee and both committees felt the area should be
developed as a green space. He said they also hoped to erect an identification sign
for the Industrial Park in order to identify the companies located at the park.
238.5 Director Malone, seconded by Noland, moved adoption of the resolution. The
recorded vote was:
Ayes: Malone, Lancaster, Colwell, Henry, Todd, Noland
Nays: None
Absent: Hughes
RESOLUTION NO. 29-78 APPEARS ON PAGE 117 OF ORDINANCE & RESOLUTION BOOK VI
238
i
ADJOURNMENT
There being no further business for the Ward's consideration, and upon
motion by Director Malone, the Mayor declared the meeting adjourned.
ATTEST:
Darlene
Westbrook, City Clerk
APPROVED:
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Ernest E. Lancaster, Mayor
5/9/78
239
239.1