HomeMy WebLinkAboutR83-640O0 i 04
RESOLUTION NO. R83-640
A RESOLUTION OF THE CITYCOUNCILOF %/tECITYOF PLAINVIEW,
TEXAS TRANSFERRING $235,000 FROM THEDESIGNATED INDUSTRIAL
DEVELOPMENT FUNDTOTHEPLAINVIEWIiX1DUSTRIALFOUNDATION
IN EXCHANGEFOR A 21.9177 ACRES OF pROpERTY LOCATEDAT
INDUSTR/ALPARKNORI~FORTHEPURPOSE OF REQUESTING AGRAbl~
TO~KE IMPROVEMENTS TOSAIDPROPERTY.
WHEREAS, by action taken by the City Council on June 26, 1975, a
building located at the MBPXL Plant site was donated to the City of
Plainview t'o be used for Industrial purposes by the conmunity; and
WHEREAS, by actions of the City Council on November 13, 1979 said
building was repurchased by MBPXL and that time the proceeds from the
sale were used to established a separate fund to be used only for
industrial development purposes in this conm%mity; and
WHEREAS, it has nowbecome apparent t_hat these funds are needed and
canbeused in the best interest of industrial development for Plainview
by the Plainview Industrial Foundation; and
WHEREAS, in order to abide by State Law for such transfer a
consid~rationmustbepaidbybothparties and thatbeing; a transfer of
title to 21.9177 acres of property located in the North Industrial Park
by the Industrial Foundation to the City for the purpose of requesting
grant funds to make necessary improvements to said property and at which
time ownership of the propertybythe City wouldbe required:
NOW, THEREFORE BE IT RESOLVED by the Mayor and City Council of the
City of Plainview, Texas, that the funds accumulated and designated to
be used only for Industrial Development purposes in this conm%lnity in
the amount of $235,000 be transferred to the Plainview Industrial
Foundation in exchange for a Warranty Deed given to the City of
Plainview for land totaling 21.9177 acres located in the Industrial Park
North so thatthe City may request grant funds with which improvements
can bemade to said property.
PASSED AND APPROVED this 25th day of October, 1983.
E. V. RIDT.Rb~3BER, Mayor
~$kLTER S. DODSON, City Clerk