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FRIDAY, ELDREDGE & CLARK
<br /> HERSCHEL H. FRIDAY, P.A. A PARTNERSHIP OF INDIVIDUALS AND PROFESSIONAL ASSOCIATIONS JAMES E. HARRIS, P.A.
<br /> WILLIAM A. ELDREDGE,JR., P.A. J. PHILLIP MALCOM, P.A.
<br /> S.CLARK, P.A. ATTORNEYS AT LAW JAMES M. SIMPSON, P.A.
<br /> .LIAM L.TERRY, P.A. MEREDITH P. CATLETT, P.A.
<br /> BERT V. LIGHT, P.A. 2000 FIRST COMMERCIAL BUILDING JAMES M. SAXTON
<br /> IH
<br /> LLIAM N. SUTTON, P.A. J. SHEPHERD RUSSELI 111
<br /> GEORGE E. PIKE,JR., P.A. DONALD H. BACON, P.A.
<br /> JAMES W. MOORE LITTLE ROCK, ARKANSAS 72201 ROBERT K.WALSH
<br /> WILLIAM L. PATTON.JR., P.A. WILLIAM THOMAS BAXTER, P.A.
<br /> BYRON M. EISEMAN,JR., P.A. TELEPHONE WALTER A. PAULSON 11, P.A.
<br /> JOE D. BELL, P.A. BARRY E.COPLIN
<br /> MICHAEL G.THOMPSON, P.A. RICHARD D.TAYLOR
<br /> JOHN C. ECHOLS, P.A. 501-376-2011 JOSEPH B. HURST,JR.
<br /> JAMES A. BUTTRY ELIZABETH J. ROBBEN
<br /> FREDERICK S. URSERY, P.A. CHRISTOPHER HELLER
<br /> H. T. LARZELERE, P.A. LAURA A. HENSLEY
<br /> OSCAR E. DAVIS.JR., P.A. ROBERT S. SHAFER
<br /> JAMES C. CLARK,JR., P.A. MICHAEL G. SMITH
<br /> THOMAS P. LEGGETT, P.A. WILLIAM M.GRIFFIN III
<br /> JOHN DEWEY WATSON, P.A. December 20, 1984 THOMAS N. ROSE
<br /> LEWIS MATHIS, P.A. MICHAEL S. MOORE
<br /> PAUL B. BENHAM III, P.A. DIANE S. MACKEY
<br /> LARRY W. BURKS, P.A. JEFF BROADWATER
<br /> A. WYCKLIFF NISBET,JR., P.A. JERRY V. ELLIOTT
<br /> WALTER M. EBEL III
<br /> KEVIN A. CRASS
<br /> Honorable Jim Shirrell, Mayor WILLIAM A.WADDELL,JR.
<br /> 170 South Fourth Street COUNSEL
<br /> WILLIAM J. SMITH
<br /> Batesville, Arkansas 72501 JOHN T.WILLIAMS
<br /> WRITERS DIRECT NO.
<br /> Re: City of Batesville, Arkansas Industrial Development revenue
<br /> Bonds - Westport Casuals Project, Series A and B
<br /> Dear Mayor Shirrell :
<br /> I am enclosing for execution by you and the City Clerk a copy of a
<br /> Warranty Deed conveying property to Westport Casuals, Inc . I have also
<br /> enclosed a copy of a Resolution for the City Council . We are acting as
<br /> counsel to the City in this matter.
<br /> Westport Casuals, Inc . has requested that the City execute and
<br /> deliver the Warranty Deed prior to January 2, 1985 . I enclose a copy of
<br /> the letter from their attorney making such a request. Please advise if
<br /> this timetable can be met and I will advise Westport accordingly. When
<br /> executed, the Warranty Deed should be forwarded to me for handling.
<br /> As I understand the status of this matter, a bond issue was done in
<br /> 1968 for the original plant and a bond issue was done in 1971 for an
<br /> expansion. The properties were leased by the City to Westport Casuals,
<br /> Inc . The lease agreement provides that a Warranty Deed will be given by
<br /> the City when the bonds are paid if requested by Westport Casuals, Inc .
<br /> I understand that Westport Casuals, Inc . has filed for bankruptcy
<br /> and the plant is being sold in order to pay the bonds. As a condition
<br /> for the new company acquiring the property, the City must pass title to
<br /> Westport Casuals, Inc . I do not know the identity of the purchaser.
<br /> Our files reveal that Westport Casuals, Inc . was required to make
<br /> payments in lieu of taxes beginning in 1988. This conveyance will place
<br /> the properties back on the tax rolls .
<br /> I am enclosing a copy of this letter and other materials for Don
<br /> McSpadden and request that your office advise him that it has been sent
<br /> via Purolator to your office along with this letter. I look forward to
<br /> hearing from you.
<br /> (W Yours very truly,
<br /> v " r"
<br /> J. Shepherd Russell, III
<br /> JSR/bh
<br /> Enclosures
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