12069RESOLUTION NO. 12,069
A RESOLUTION AUTHORIZING THE SALE OF CERTAIN REAL
PROPERTY LOCATED IN THE LITTLE ROCK PORT INDUSTRIAL PARK;
AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A
WARRANTY DEED FOR THE CONVEYANCE; AND FOR OTHER
PURPOSES.
WHEREAS, Novus International, Inc., a Delaware corporation (the "Purchaser "),
desires to purchase certain real property located in the Little Rock Port Industrial Park
owned by the City of Little Rock, Arkansas (the "City "), and
WHEREAS, Purchaser has made an offer in the sum of Three Hundred Sixty Thousand
and NO /100 Dollars ($360,000.00) for the property, and
WHEREAS, the Little Rock Board of Directors finds that the proposed sale to the
Purchaser will help to secure and develop industry in the Little Rock Port Industrial Park,
thereby providing substantial employment and payroll.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK:
Section 1. The sale of the property for the consideration stated above is approved and the
Mayor and City Clerk are authorized and directed to execute for and on behalf of the City
a Warranty Deed and the appropriate plat and bill of assurance, conveying the property to
the Purchaser or its designee, upon full payment of the purchase price in the sum of Three
Hundred Sixty Thousand and NO/ 100 Dollars ($360,000.00) paid to the Little Rock Port
Authority.
Section 2. The property is substantially described as follows, with such changes as shall
be approved by the City Attorney and the Mayor; the execution of the Warranty Deed
authorized by this resolution shall constitute evidence of such approval:
LEGAL DESCRIPTION
A tract of land situated in the NE '/4, S W '/4, and the SE '/4, S W '/4, Section 16 in
Township 1 North, Range 11 West, Little Rock, Pulaski County, Arkansas, being more
particularly described as follows:
Commencing at a railroad spike found at the southeast corner of the SW '/4 of said
Section 16; thence N88 °47'31 "W along the south line of Section 16 for a distance of
708.74 feet; thence N009 3' 11 "E, 1263.21 feet to the northwest corner of Tract "E-4",
Area 101, Little Rock Port Industrial Park; thence S89 °46'49 "E along the north line of
said Tract "E -4" and extension thereof, 65.00 feet to the east line of a 65 foot railroad and
drainage easement and the Point of Beginning; thence S00°13'W, 68 feet to the center
line of a Little Rock Port Authority Railroad spur track; thence along the center line of
said spur track on a curve to the left having a radius of 371 feet, a central angle of 71 °02'
and a chord bearing and distance of S53 °14'E, 431 feet; thence S88 °44'E, 144 feet to the
southwest corner of Tract E -2, Area 101; thence N00° 14' E, 864 feet to the northwest
corner of Tract E -2, Area 101 and the south right of way line of Lindsey Road; thence
S88 °49'W along said south right -of -way 49 feet; thence continuing along said south
right -of -way S89047'E, 441 feet to the east line of said railroad and drainage easement;
thence S009 3' W along said east line 601 feet to the Point of Beginning; and containing
9.10 acres more or less; the actual survey acreage to be determined by a current
boundary survey.
Section 3. Severability. In the event any section, subsection, subdivision, paragraph,
subparagraph, 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 this 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 this resolution.
Section 4. Repealer. All laws, ordinances, resolutions, policies, or parts of any such
material, in conflict with the provisions of this resolution are hereby repealed to the
extent of such inconsistency.
Section 5. This Resolution shall be in full force and effect from the date of its adoption.
ADOPTED: August 16, 2005
ATTEST:
N�Icy Wo , City Clerk
APPROVED AS TO LEGAL FORM:
cam' 'l
Thomas M. Carpenter, City A44mey
APPROVED:
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J' ailey, Mayor