The Benton City Council Monday night approved a resolution restricting proceeds from the recent sale of the former City Hall property on West Main.

The city sold the property at auction to a Tennessee company – S.A. Dewitt, L.P. – for $176,000. The company plans to build a Sonic Drive-In restaurant on the property sometime this year once the old City Hall is torn down. It’s unknown at this time when that will happen.

City Clerk Brook Craig tells us closing on the property is set for Thursday.

The city set aside $164,745 of the $176,000 for future capital improvements. Some of the money from the sale was used for things like a title insurance policy, an exam fee, recording the deed and paying the auctioneer for services.