Subject: 19640/Sale-KirkmanSchoolProp/RiverCity Co.
Date: Fri, 18 Sep 1992 12:21:00 -0500


                               RESOLUTION NO. 19640
                  
                  
                   A RESOLUTION AUTHORIZING THE SALE OF THE
                   KIRKMAN SCHOOL PROPERTY, EXCLUDING THE
                   GYMNASIUM BUILDING, TO RIVER CITY COMPANY
                   FOR TWO MILLION FIVE HUNDRED THOUSAND AND
                   NO/100 DOLLARS ($2,500,000.00); AUTHORIZING
                   THE CONVEYANCE OF THE GYMNASIUM SITE TO THE
                   CREATIVE DISCOVERY MUSEUM IN CONSIDERATION
                   OF THE DEVELOPMENT OF A CHILDREN'S MUSEUM;
                   AND AUTHORIZING THE MAYOR AND CITY FINANCE
                   OFFICER TO EXECUTE AND ATTEST, RESPECTIVELY,
                   ANY AGREEMENT, DEED OR OTHER DOCUMENT WITH
                   RESPECT THERETO.
                  
                  
                                                    
                  
                  
       	    	 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
       CHATTANOOGA, TENNESSEE, That there be and is hereby authorized 
the
       sale of the Kirkman School property, excluding the gymnasium
       building, to River City Company for $2,500,000.00; and
       	    	 BE IT FURTHER RESOLVED, That there be and is hereby
       authorized the conveyance of the gymnasium site to the Creative
       Discovery Museum in consideration of the development of a
       children's museum; and
       	    	 BE IT FURTHER RESOLVED, That the Mayor and City Finance
       Officer be and are hereby authorized to execute and attest,
       respectively, any agreement, deed or other document with respect
       thereto.
      
       ADOPTED:	 November 2, 1992   
      
       MAM:cjc