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14657 1 RESOLUTION NO. 14,657 2 3 A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER 4 INTO A CONTRACT WITH JOHN FLETCHER TO PURCHASE 5 APPROXIMATLEY FIVE(5)ACRES OF LAND FOR THE LITTLE ROCK 6 PORT AUTHORITY,AND FOR OTHER PURPOSES. 7 8 WHEREAS,the City of Little Rock,through its 2011 Capital Sales Tax Initiative,set aside money for 9 the specific purpose of expanding the real estate holdings of the Little Rock Port Authority,and 10 WHEREAS, the Little Rock Port Authority has been actively exploring opportunities for expansion, 11 including the development of a 2008 Master Real Estate Acquisition Plan, and 12 WHEREAS,the Little Rock Port Authority Staff has worked with the Greater Little Rock Chamber of 13 Commerce, and other interested parties,to explore viable options for real estate expansion and determined 14 that this particular parcel will meet the future needs of the Little Rock Port Authority for economic prospect 15 recruitment purposes, and 16 WHEREAS, the Little Rock Port Authority Staff has extended an offer, based upon a third-party 17 appraisal,for the property in question and the offer has been accepted by the owner; and, 18 WHEREAS, pursuant to Ark. Code Ann. § 14-54-302 (c) (West Supp. 2016) such a transfer in 19 ownership of City property must be authorized by a resolution adopted by the Board of Directors; 20 NOW, THEREFORE, BE IT RESOLVED BY THE LITTLE ROCK CITY BOARD OF 21 DIRECTORS: 22 Section 1. The City of Little Rock Board of Directors authorizes the City Manager to purchase 23 approximately five(5)acres of land for use by the Little Rock Port Authority. 24 Section 2. The land can be more particularly described as Parcel No.24R0280001100,located at 5401 25 Fletcher Road,Little Rock,Pulaski County,Arkansas. 26 Section 3. Funding for this acquisition will come from the 2011 Sales Tax Initiative that established 27 funds for land acquisition at the Port. 28 Section 4. Severability. In the event any section, subsection, subdivision, paragraph, subparagraph, 29 item, sentence, clause, phrase, or word of this resolution is declared or adjudged to be invalid or 30 unconstitutional,such declaration or adjudication shall not affect the remaining portions of this resolution, 31 which shall remain in full force and effect as if the portion so declared or adjudged invalid or 32 unconstitutional were not originally a part of this resolution. 33 Section 5. Repealer. All resolutions, bylaws, and other matters inconsistent with this resolution are 34 hereby repealed to the extent of such inconsistency. [Page 1 of 2] 1 ADOPTED: October 17,2017 i 2 ATT APPROVED: 3 t4;; filp 4 ..l_,, /l .4/4 4A 1// 5 u an' ngle s: City Clerk Mark Stodola, yor r 6 AP ' C �' i AS TO LEGAL FORM: 7 c..... /(mti.44 41' /lAle- 9 Thomas M.Carpenter,City ttorney 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 2 of 2]