1500 RES CITY COUNCIL IN RES NO 1489 AUTHORIZED ADVERTISINGRESOLUTION NO. 1500
WHEREAS, the City Council of the City of Paris did hereto-
fore, in Resolution No. 1489, authorize the advertising for sale
of a 10 acre plot, for the purpose of attracting industry which
will utilize the air traffic facilities of the City of Paris; an d,
VJHEREAS, the City Council of the City of Paris has deter-
mined that it would be right and proper to sell the 10 acre tract
out of the North West Corner of the Cox Field property for in-
dustri al purposes; and,
WHEREAS, the City of Paris did, by written notice published
in the Paris News on June 18, 1972 and June 25, 1972, notify the
pub.lic that it would receive .sealed bids for the sale of said
tract of land, at the Council Room, in the City Hall, in the City
of Paris, Texas, at 7:00 o'clock P. M., on the lOth day of Ju1y,
1972; and,
WHEREAS, the City Council did receive bids at said time,
and after opening the same found that Paris, Texas Industrial
Foundation, Inc. bid the sum of $700.00 per acre for the tract
of land described in Exhibit A attached hereto, which bid was the
highest and best bid made for the purchase of said property;
NOW, TH ER EFOR E,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS,
That the bid of Paris, Texas Industrial Foundation, Inc. be de-
clared to be the highest and best bid, and that the property be
sold to said corporation and that the Mayor of the City of Paris,
Paris, Texas, James W. Farris, be, and he is hereby authorized
and directed to execute a warranty deed to Paris, Texas
Industrial Foundation, Inc., and that the Director of Finance,
H. C. Greene,is hereby authorized and directed to deliver said
deed upon the tender of $7,000.00.
WHEZEAS, the City of Paris did heretofore enter into an
Agreement of Option to Lease with AGPRO, Inc., wherein AGPRO,
Inc. was granted the option to lease Tract 1 designated therein
on Exhibit A, containing 9.981 acres of land within two years
from August 9, 1971; and,
Wf-IEREAS, the City Council of the City of Paris deems the
advertisement and sale of the 10 acre tract of land described in
Exhibit A attached hereto, to Paris, Texas Industrial Foundation,
Inc., who in turn will sell the same to AGPRO, Inc. as satis-
faction of and in lieu of the exercise of option to lease of said
Tract 1 as a condition precedent to further options granted in
said Agreement of Option to Lease; NOW, THEZEFOR E,
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PARIS, That the Mayor of the City of Paris, Paris, Texas, James
W. Farris, be, and he is hereby authorized and directed to exe-
cute an Addendum to Agreement of Option to Lease, dated August 9,
1971, between the City of Paris and AGPRO, Inc., providing that
the option to lease Tract 1 on Exhibit A of said Agreement of
Option to Lease, containing 9.981 acres, has been fully satisfied
by the purchase of the 10 acre tract described in Exhibit A
attached hereto, by Paris, Texas Industrial Foundation, Inc.,
and that all further options therein granted are continued to
be available to AGPRO, Inc. upon satisfaction of the addi-
tional requirements therein described.
WHEREAS, the City of Paris did heretofore request Civil
Aeronautics Administration ta release, for the purpose of sale,
the 10 acres herein authorized to be conveyed, to Paris, Texas
Industrial Foundation, Inc.; and,
WHEREAS, the requirement of the release is that the fair
market value of the property being released be expended on re-
pair and strengthening the North-South Runway at Cox Field,
Paris, Texas, independent of Federal participation during the
ensuing five year period; NOW, THIIZEFORE,
BE IT FURTHER RFSOLVED BY THE C ITY COUNCIL OF THE CITY
OF PARIS, That the fair market value of the 10 acre tr act
herein authorized to be conveyed to Paris, Texas Industrial
Foundation, Inc. is $700.00 per acre for a total sum of
$7,000.00, and the Director of Finance, H. C. Greene, be, and
he is hereby directed to expend during the ensuing five year
period $7,000.00 on repair and strengthening the North-South
Runway, Cox Field, Paris, Texas, independent of any and all
Federal Programs.
Passed and adopted this 14th day of August, 1972.
t
s W. Farris, Mayor
ATTFST :
k '
H. C. Gr ene, City Clerk
APPPJV%D A0S T,,qr FORM :
. Haynes, jPlty Attorney
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