121751 RESOLUTION NO. 12,175
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3 A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY
4 CLERK TO EXECUTE A RELEASE DEED TO RELEASE THE
5 REVERTER CLAUSE IN A DEED TO CERTAIN REAL
6 PROPERTY TO CENTRAL ARKANSAS WATER; AND FOR
7 OTHER PURPOSES.
9 WHEREAS, on or about July 1, 2001, pursuant to a Special Warranty Deed With
10 Possibility of Reverter ( "Warranty Deed ") filed of record as Instrument No. 2001051904
11 on July 3, 2001, the City transferred to Central Arkansas Water ( "CAW ") certain real
12 property located in Little Rock that included the property described as Lots 2R and 3R,
13 Block 40, Original City of Little Rock, and
14 WHEREAS, through Resolution No. 12,122 (November 1, 2005), the City Board
15 of Directors authorized the City Manager to execute all necessary documents for the
16 purchase of Lot 3R, Block 40, Original City of Little Rock to be used to construct a
17 downtown police service center thereon, and
18 WHEREAS, the sale of Lot 3R to the City is conditioned upon the release of the
19 Reverter Clause in the said Warranty Deed as to Lots 2R and 3R to and in favor of
20 CAW.
21 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
22 THE CITY OF LITTLE ROCK, ARKANSAS:
23 Section 1. In consideration for the exchange for the transfer of Lot 3R from CAW
24 to the City, the Mayor and City Clerk are hereby authorized to execute on behalf of the
25 City a Release Deed, in substantially the form of the document attached.
[PAGE 1 OF 21
Resolution
To authorize release of reverter clause to certain CAW propertyy
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Section 2. Severability. In the event any title, section, paragraph, item, sentence,
clause, phrase, or word of this resolution is declared or adjudged to be invalid or
unconstitutional, such declaration or adjudication shall not affect the remaining
portions of the resolution, which shall remain in full force and effect as if the portion so
declared or adjudged invalid or unconstitutional were not originally a part of the
resolution.
Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that
are inconsistent with the provisions of this resolution, are hereby repealed to the extent
of such inconsistency.
ADOPTED: January 10, 2006
ATTEST:
N ncy W d, City Clerk
APPROVED AS TO FORM:
Thomas M. Carpenter, City AlWorney
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[PAGE 2 OF 21
Resolution
To authorize release of reverter clause to certain CAW propertyy
APPROVED:
—AMA
Jim a ley, Mayor