625 RES FARMERS & MERCHANTS COMPRESS & WAREHOUSE CO PROPOSES TO BUILD, ETC IN VICINITY OF LONG AVENUE AND 4TH SW ST

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! • RESOLUTION NO. b 2 5 . WHEREAS, Farmers & Merchants Compress & Warehouse Company praposes to build, erect, construct and maintain in the vicinity of Long Avenue and 4th S. W. Street four certain warehouse buildings for the storage of cotton and other products; and, WHEREAS, such area and vicinity of the City of Paris is not pre- sently served with adequate fire protection water lines, and may be ade- quately served only by extending the water mains of the City of Paris a distance of approximately 1600 feet, which extension will require the laying of 1600 feet uf eight inch (81') water pipe, the net cost to the City of Paris therefor being $2.42 per foot or an aggregate amount of $3,872.00; and, WHEREAS, said Farmers & Merchants Compress & Warehouse Company has proposed to deposit with the City of Paris such sum of $3,872.00 to be by said City used for the purchase of water pipe required for such ex- tension under an agreement whereby the City of Paris will refund to said Company such monies in two equal annual installments. NUVV, THEREFORE, BE IT RESOLVED BY THE CITY 0-JUNCIL OF THE CITY uF PARIS, That the City Manager be, and he is hereby authorized and directed to accept from said Farmers & Merchants Compress & Warehouse Company such sum of $3,872.00, and by him used to purchase 1600 feet of eight inch (8") water pipe for such extension, and the City Manager is further authorized and empowered to execute and deliver to said Company written acknowledgement of the receipt of such monies, under contract and agree- ment to make and effect such water line extension, and further binding and obligating the City of Paris to refund such monies in two equal annual installments of $1,936.00 each, the first being due and payable on July 1, 1957 and the second being due and payable on July 1, 1958. Passed and adopted this llth day of June, 1956. Mayor ATTEST: City Clerk.