HomeMy WebLinkAbout82-74 RESOLUTIONRESOLUTION NO. 62-1*
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
A CONTRACT WITH MULTFPROPERTIES, INC., TO GUARANTEE THAT THE
DEVELOPER OF SEQUOYAH WOODS SUBDIVISION, PHASE I,. WILL RESTORE
CERTAIN PORTIONS OF JOE FREDFSTARR ROAD . AND CONTRIBUTE TO THE
COST OF IMPROVING JOE'FRED'STARR ROAD.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That :the Mayor
:and City Clerk tie, and they, hereby are,
authorized and directed to execute a contract with Mult4'roperties,
Inc., the developer of Sequoyah Woods Subdivision, Phase I,
pursuant to which said corporation agrees to restore certain portions
"of=i'oer3.Ere`d_-StarrRoad and contribute to the cost of improving
Joe-FterStart-Road.-, A copy of said contract, marked Exhibit "A",
is attached hereto and made a part hereof.
PASSED AND APPROVED THIS it2W DAY OFindiietA J ,
1974.
APPROVED:
MAYOR aw!/
This Contract executed the _ day of
1975, by and between the City of Fayetteville( Arkansas, a muni-
cipal corporation, hereinafter called the "City", and Washington
County, Arkansas, hereinafter called the "County".
WHEEREAS, Multi -Properties, Inc. has developed a subdivision
within the City of Fayetteville abutting Joe Fred Starr Road; and
WHREAS, Multi -Properties, Inca has deposited with the City
the sum of Four Thousand, One Hundred Twelve & 79/100 Dollars
($4,112.79) to be used for improving. Joe Fred Starr Road; and
WHEREAS, the County plans to undertake an improvement
project for Joe Fred Starr Road in the summer of 1975; and
WHEREAS, the purpose of this agreement is to set forth
the terms and conditions under which the parties hereto will
contribute to the improvement of Joe Fred Starr Road.
NOW, THEREFORE, in consideration of the mutual covenants
contained herein, it is hereby agreed by the parties hereto:
1. The City agrees to deposit with the County the sum of
Four Thousand, One Hundred Twelve & 79/100 Dollars ($4,112.79),
said sum having previously been deposited with the City by Multi -
Properties, Inc. for the improvement of Joe Fred Starr Road.
2. The County agrees that said money will be used to
purchase base material and asphalt for improving Joe Fred Starr
Road from Cherokee Drive to Highway 45 East.
3. The County agrees to furnish all labor and equipment
necessary for improving Joe Fred Starr Road. from Cherokee Drive
to Highway 45 East.
4. The County agrees that it will pave Joe Fred Starr Road
to County standards and specifications from the intersection of
said road with Cherokee Drive to Highway 45 East during the
summer months of 1975.
•
WITNESS the seals of the parties hereto this day of.
i V
I rATTEST, a.
r
'<i''BY : �
TITLE:'
ATTEST:
CITY OF FAYETTEVILLE, ARKANSAS,
A Municipal Corporation
BY 927,44147/H
TITLE:
WASHINGTON CO TY, ARKANSAS
BY
TITLE
1
TITLE: >tp�Q�,y 9,,,� e