RES NO 12-02-1985 ii z -1as5
0
RESOLUTION NO. .2- 4- 77Ar
A RESOLUTION AUTHORIZING A MEMORANDUM OF
INTENT BY AND BETWEEN THE CITY OF VAN BUJREN,
ARKANSAS, AND ABC TREADCO, INC. PERTAINING
TO THE ISSUANCE OF INDUSTRIAL DEVELOPMENT
REVENUE BONDS FOR FINANCING THE COSTS
OF ACOUIRING INDUSTRIAL FACILITIES; AND
PRESCRIBING OTHER MATTERS RELATING THERETO.
BE IT RESOLVED by the City Counsel of the City of van Buren,
Arkansas:
Section 1. That there be, and there is hereby autho-
rized the execution and delivery of a Memorandum of Intent by
and between the City of Van Buren, Arkansas (the
"Municipality and ABC Treadco, Inc., an Arkansas corporation
(the "Company and the Mayor and City Clerk he, and they are
hereby, authorized to execute and deliver the Memorandum of
Intent for and on behalf of the Municipality. The Memorandum of
Intent is approved in substantially the form submitted to this
meeting, and the Mayor is herehv authorized to confer with the
Company in order to complete the Memorandum of Intent
in substantially the form submitted to this meeting with such
changes as shall be approved by such persons executing the
Document, their execution to constitute conclusive evidence of
such approval.
Section 2. That the Mayor and City Clerk he, and they
are herehv authorized and directed, for and on behalf of the
Municipality, to do all things, execute all instruments and
otherwise take all action necessary to the realization of the
Municipality's obligations under the Memorandum of Intent.
PASSED: 1925.
APPRO
ATTEST- r yy ll JJ`` r
Mayor
City Clerk
lSEAL