1103 RES CITY COUNCIL ADVERTISED FOR BIDS

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RESOLUTION NO. 1103 . WHEREAS, the City Council, prior to May 31, 1956, by resolution duly passed on the 15th day of May, 1956, did advertise for bids for the sale of the property known as the Legion Airport property, located at the North West edge of the City Limits of the City of Paris and composed of some 216 acres; and, WHEREAS, the property was proposed to be sold for industrial develop- ment purposes for the use and benefit of the City of Paris; and, W HEREAS9 the Paris, Texas Industrial Foundation,, Inc., pursuant to said resolution, which was duly published in the newspaper, The Paris News, bid the sumof $ 100. 00 per acre for said property, to be taken as needed for industrial development and for the assured growth of the City of Paris; and, WHEREAS, the City of Paris, at its regular council meeting, on the 31st day of May, 1956, declared said bid to be the highest and best bid for said pro- perties and authorized that an option to purchase contract be entered into by the City of Paris, Texas and the Paris, Texas Industrial Foundation9 Inc. ; and, WHEREAS, said contract was entered into, and much of the Legion Airport property aforesaid has already been purchased by the Industrial Foundation and paid for at an agreed price; and, WHEREAS, the Paris, Texas Industrial Foundation, Inc., by a resolution of its Board of Directors, passed on June 22, 1964, authorized its officers to negotiate with and purchase from the City of Paris the balance of the city owned property, formerly constituting the old Legion Airport, lying North of Loop Highway 286 in Lamar Countyp Texas; and, WHEREAS, they have requested the City of Paris for permission to exer- cise their option to so purchase said property, agreeing to pay $ 100. 00 per acre therefor, and that the Foundation will pay to the City of Paris all net profits of sales of this property after recovering its actual cost and ex.pense9 and agreeing and stipulating that the Foundation will sell said property only for bona fide in- dustrial purposes; and9 WHEREAS, the committee from the Paris, Texas Industrial Foundation, - Inc. has called upon the City Council, exercising its option to purchase the here- inafter described property, on the terms and conditions contained in said resolu- tion; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS,, TEXAS, That the Mayor, V. E. Stewart, be, and he is hereby authorized to sell to the Paris, Texas Industrial Foundation9 Inc. 9 for the sum of $100. 00 per acre, and other good and valuable consideration as ex.pressed in negotia- tions with said Foundation and in the resolution passed by the Directors of said Foundation, the following described property: All those certain tracts or parcels of land situated in the County of Lamar and State of Texas, and described as follows: TRACT 1: Being parts of the Joseph Ames Survey, the Joseph Harrington 5urvey, the B. F. Bourland Survey, and the Francis Morrison Survey. Beginning at a stake, the present North East Corner of a tract acquired by the City of Paris from Baldwin et al, recorded in Book 260, Page 277, of the Lamar County Deed Records, which point is in the S. B. Line of Farm to Market Highway 79; Thence West with the present North Boundary Line of said tract and with the S. B. Line of F. M. Highway 79, 1, 800 feet to the North West Corner of the Baldwin to City of Paris tract;