WHEREAS, Winthrop University is located in York County; and owns a .536 acre parcel
located at 700 Cherry Road, Rock Hill, South Carolina with improvements on said parcel
known as the Bookworm; and
WHEREAS, Winthrop University acquired the Bookworm parcel by issuing bonds referred
to as the $810,000 Winthrop University Auxiliary Facilities Revenue Bonds, Series
1997 ("Facilities Revenue Bonds"); and
WHEREAS, the City of Rock Hill desires to purchase a narrow strip of land containing
.04 acres in the amount of $23,600, for use as a right turn lane on Charlotte Avenue
at the intersection of Cherry Road; and
WHEREAS, Winthrop University desires to dispose of this property and retain the proceeds
from the sale for use in accordance with the Facilities Revenue Bonds; and
WHEREAS, the Trustee under the Facilities Revenue Bonds has been provided with an
appraisal in accordance with the requirements of Section 7.12 (C) of the Facilities
Revenue Bonds relating to the sale of any portion of the Facilities; and
WHEREAS, the Budget and Control Board approved the sale of .04 acres, or approximately
1,642 square feet at 700 Cherry Road, to the City of Rock Hill in the amount of $23,600,
to provide additional land for installation of right turn lane at the intersection
of Cherry Road and Charlotte Avenue in accordance with Section 7.12 (C) of the Facilities
Revenue Bonds;
THEREFORE, LET IT BE RESOLVED the Board of Trustees of Winthrop University does hereby approve the sale
of .04 acres, or approximately 1,642 square feet to the City of Rock Hill for $23,600
to provide additional land for installation of a right turn lane at the intersection
of Cherry Road and Charlotte Avenue based on the approval from the Budget and Control
Board on January 27, 2000.
June 8, 2001
