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RESOLUTION NO. $O-19
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A RESOLUTION AUTHORIZING THE SALE OF LOT 16-A IN THE
FAYETTEVILLE INDUSTRIAL PARK TO AMTANE, INC.
1
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That the sale of Lot 16-A in the Fayetteville Industrial
Park is hereby authorized in accordance with the proposal attached
hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this
day of
APPROVED:
, 1979.
MAYOR
MICROFlLMED
DATE_ ? _
1919
REEL
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Industrial Park --Proposed Sale to Amtane, Inc.
Site: Lot 16-A, approximately 2.43 A (subject to survey)
Sales Price $17,600., less $1,760 commission --Net $15,840.
Contingencies: Sale is contingent on the following:
1. Sewer tap being available no later than 12-1-79.
(this will require the construction of approximately 800 feet of new
sewer as shown on plat at an estimated cost of $10,000 to ultimately
serve all four sites 16-A, 16-B, 16-C, 16-D)
2. Proper zoning to accomodate buyer's business and approval by LP Gas
Regulatory Commission.
(zoning is proper --LP Gas approval due by September 15)
City Improvements Required:
1. the sewer line (cost $10,000)to be built immediately. 1/4 of this cost
to be applied to this project,the balance to the sale price of three other
sites.
2. No immediate requirements for paving Pump Station Road, but including a
$2,300 set aside toward future paving cost.
Proposed Cash Flow:
Net Sales Price $15,840
Less Set Aside 4,800
For Distribution 11,040
To City, 63.66%
To FIDC, 36.34%
City will receive
Required Expenditure
Net Cash at start
$ 7,028
4,012
11,040
$11,828
10,000
1,828
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