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RESOLUTION NO. 8.525
A RESOLUTION AUTHORIZING THE SALE OF CERTAIN
PROPERTY LOCATED IN THE LITTLE ROCK PORT
INDUSTRIAL PARK; AND FOR OTHER PURPOSES.
WHEREAS, Lindsey Road Partnership, an Arkansas
partnership ( "Lindsey "), desires to purchase certain property
located in the Little Rock Port Industrial Park owned by the City
of Little Rock, Arkansas (the "City "), as follows:
A tract of land situated in the Eh of the SW;
and the W'h of the SE;, Section 16, Township 1
North, Range 11 West of the Fifth Principal
Meridian, City of Little Rock, Pulaski County,
Arkansas, being more particularly described as
follows:
Commencing at the Southeast Corner of the SW4
of the SE;, Section 16, T -1 -N, Range 11 West;
thence N010301520 E, 809.63 feet along the
East line of the West hS of the SE ; of said
Section 16; thence N88 o29108 "W, 96.50 feet to
a point on the West right -of -way line of
Fourche Dam Pike and the Southeast Corner of
Tract F Area 101 (Plat No. A -675 in Pulaski
County Office of Circuit Clerk) Little Rock
Port Industrial Park; thence N88 o46158 "W,
916.07 feet along the south line of said Tract
F; thence N080 1013511E, 136.14 feet along the
westerly line of said Tract F to the Point of
Beginning; thence continuing along said
westerly line Tract F N08o 10'35 "E, 1033.01
feet to a point of the southerly right of way
line of Lindsey Road; thence S74o 52'22 "W,
432.01 feet along said southerly right -of -way
line; thence continuing along said southerly
right -of -way line 224.18 feet along a curve to
the right having a chord bearing S81 0 12 "02 "W,
223.72 feet and a radius of 1014.93 feet;
thence S00014132 11W, 864.58; thence
S88043147 11E, 494.99 feet to the Point of
Beginning, and containing 12.00 acres, more or
less;
and
WHEREAS, the City has been offered the sum of $210,000
for the property described above and is prepared to sell the
property for such price;
NOW, tHEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock, Arkansas:
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Section 1. The Board hereby finds that the proposed sale
will secure and develop industry in the Little Rock Port Industrial
Park, thereby providing substantial employment and payrolls.
Section 2. The sale of the property described herein to
Lindsey for the consideration stated is hereby approved, and the
Mayor is hereby authorized and directed to execute for and on
behalf of the City a Warranty Deed and the appropriate Plat.and
Bill of Assurance, conveying said property, and the City Clerk is
hereby authorized and directed to attest said instruments and to
deliver the same to the Office of the City Attorney for delivery of
same to Lindsey upon full payment of consideration in the sum of
$210,000.
Section 3. This Resolution shall be in full force and
effect from the date of its adoption.
ADOPTED: July 2, 1991.
ATTEST:
(SEAL)
APPROVAD:
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297
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1 CERTIFICATE
2
3 The undersigned, City Clerk of the City of Little Rock,
4 Arkansas, hereby certifies that the foregoing is a true and
5 compared copy of a resolution passed at a regular session of the
6 Board of Directors of the City of Little Rock, Arkansas, held at
7 the regular meeting place of the Board at 6:00 o'clock �.m., on
8 the 2nd day of July , 1991.
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10 ....... �'.� .Q,I,4oG c _
11 v� �. City Clerk
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13 (SEAL)
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