HomeMy WebLinkAbout09-49 RESOLUTION• ' RESOLUTION
Whereas, The City�Council•of the•Ci$y'of Fayetteville, Arkansas has
heretofore authordhzed its•Mayor and City Clerk to execute a deed to the
Fayetteville Industrial Foundation, Inc. of its interest in the property
known as the garment factory building and lands for the sum of Ten Thous-
and 010,000.00) Dollars. and
WHEREAS, one of the conditions of the conveyance was that no profit
derived from theeoperation oindividd ual whicharment aconditionbuilding
inserted theree
used for the benefit ev any
in because the Fayetteville Industrial Foundation, Inc. was not a non-
profit corporation, and
WHEREAS, the Fayetteville (Arkansas) chamber of Commerce, Inc. is
ta hatnsaidfit d garmecorporation
offact ryand the buildingnandtrial landsFinaydbeiconnc. as veyed by the City
of Fayetteville to the Chember of Commerce of thea ityofhFayettev lle.
Arkansas to the end that no restrictions will app ar n
nd
WEU;REAS, it appears that the citizens committee which raised the
major portion of the Hands for the building of the garment factory build-
ing was a committee promoted, created and authorized by the Fayetteville
andk hatasaidacitizensof 0committee/ by reason ofability
) t their inof lto raiseas
all of the funds necessary to complete said building, conveyed the lands
and building to XXM Water Improvement District No. 1 of the City of Fayette-.
t of the
villa* Arkansaa and
Fayetteville Board e, kansas,finacoonnsideration ofers of the theater City Water Plant
City of ay which con-
paying the balance due for the construction of said building,
veyance was in trust, however, and not an absolute grant, and
WHEREAS, subsequently the City Water Plant of the City ofvFeyette-
ville,Arkansas acquired additional lands outright for use in connection
with said garment factory building and that the Water Plant of the City
of Hundred
07,200 O)now
Dollarspinvested ial nmof saidabout garmentvfac orysand and building Two
Hundred (�'i,200e00}
and lands used in connection therewith, end
WHEREAS, Oberman and Company, the present tenants in said building
are demanding additional extensive improvements which the City of Fayette"
ville is unable to provide and it is the desire of the City of Fayette-
ville to dispose of its beneficial interest and whatever interest it may
have in trust to the end that the improvements demanded by Oberman and
Company may be made and the City of Fayetteville -receive reimbursement
for funds heretofore invested by its water plant.
NOW,THEtOOHE, be it resolved by the City Council of the City of
Fayetteville, Arkansas;
T.at the Mayor and City Clerk of the City of Fgyetteville, Arkan-
sas be and they are hereby authorized to convey to he Fayetteville
(Arkansas) Camber of Commerce, I c. whatevttAit may
avegi e inthe
garment factory building in the City of Fayetteville,whekhnr acquoged by
r
'with the lands used in e&nnectio_n with said building
conveyance from the trustees of the garment factory litlIdiMgX or by out-
right purchase, for the sum of Ten T ousand ($10,000.00) Dollars which
sum shall be paid by the Fayetteville (Arkansas) Chamber of Commerce, Ina,
when title to the lands upon whish the garment factory building is located
and other lands used in connection therewith issaquieted the and coconfirmed by
the Chancery Court of Washington County, Arkansas in that should the
e
(Arkansas) Chamber of Commerce, Inc., p
Fayetteville (Arkansas) Chamber of Commerce be unable to quiet and yon-gNx
firm title to said lands in them, isEiej XICKWRNINttN IIIeXI N
INIONIO
eingatElirE/WititictniatatIMICInitibniftWOMMEEtianntiPINIEUCUM
chiif:Sljei8Xi 23hOMEXCI bt TAYMC 5 eiintiritr fxli XNX :fl mdtptutanlxx
or should the Fayetteville (Arkansas) Chamber of Commerce fail to
consumate the proposed expansionprogram
with
Oberman
sas) Chamber and Cof Company
within
a rasoneble time, then the F y
City ofsFayetteville, Arkansas,ast herin authorized toa Municipal Corporation.be conveyed, to the
Adopted this 12th day of September, 1949.
CITY OF FAYETTEVILLE, ARKANSAS,
A MUNICIPAL CORPORATION
Attest t By
City CierK Mayor