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1 RESOLUTION NO. 9,765
2
3 A RESOLUTION AUTHORIZING THE SALE OF CERTAIN 490
4 PROPERTY LOCATED IN THE LITTLE ROCK PORT
5 INDUSTRIAL PARK; AND FOR OTHER PURPOSES.
6
7 WHEREAS, NBP, Inc., an Arkansas corporation (the
8 "Purchaser "), desires to purchase certain property located in the
9 Little Rock Port Industrial Park owned by the City of Little Rock,
10 Arkansas, more particularly described below (the "City "); and
11 WHEREAS, in exchange for such property the City has been
12 offered certain property owned by the Purchaser in the Little Rock
13 Port Industrial Park, more particularly described below; and
14 WHEREAS, upon the recommendation of the Little Rock Port
15 Authority the City is prepared to sell its property in exchange for
16 the property of the Purchaser;
17 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors
18 of the City of Little Rock, Arkansas:
19 Section 1. The Board hereby finds that the proposed sale
20 will secure and develop industry in the Little Rock Port Industrial
21 Park, thereby providing substantial employment and payrolls.
22 Section 2. The sale of the property for the
23 consideration stated is hereby approved, and the Mayor is hereby
24 authorized and directed to execute for and on behalf of the City a
25 Warranty Deed and the appropriate Plat and Bill of Assurance,
26 conveying said property to the Purchaser or its designee, and the
27 City Clerk is hereby authorized and directed to attest said
28 instruments and to deliver the same to the Office of the City
29 Attorney for delivery of same to the Purchaser or its designee upon
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1 the delivery of a Warranty Deed conveying the following described 491
2 property to the City:
3 Tract A, Area 300, Little Rock Port Industrial Park of
4 the City of Little Rock, Arkansas.
5
6 Section 3. The property being sold is substantially
7 described as follows with such changes as shall be approved by the
8 Mayor, his execution of the Warranty Deed authorized hereby to
9 constitute conclusive evidence of such approval:
10 A tract of land situated in the NE;, NE;, Section 21,
11 Township 1 North, Range it West, Pulaski County, Arkansas
12 and more particularly described as follows:
13
14 Commencing at the Southwest Corner of said NE;, NE4,
15 Section 21 thence S88047155 "E 23.50 feet to a point, said
16 point being the Point of Beginning and a point on the
17 South Line of said NE4, NE;, Section 21 and on the East
18 Right -of -Way line of Fourche Dam Pike; thence continue
19 S88 047155 11E along said South Line 900.46 feet to a point,
20 said point being on the said South Line, NE;, NE;,
21 Section 21; thence NO1 033110 11E 480.43 feet to a point,
22 said point being the Southeast Corner of Tract C, Area
23 103, Little Rock Port Industrial District to the City of
24 Little Rock, Pulaski County, Arkansas; thence N88 047131 11W
25 along the South Line of said Tract C, Area 103 900.46
26 feet to a point, said point being the Southwest Corner of
27 said Tract C, Area 103 and on the said East Right -of -Way
28 line of Fourche Dam Pike; thence S01 033110 11W along said
29 East Right -of -Way line 480.54 feet to the Point of
30 Beginning. Said Tract of land contains 9.9 acres, more
31 or less.
32
33 Section 4. This Resolution shall be in full force and
34 effect from the date of its adoption.
35
36 ADOPTED: August 6, , 1996.
37
38 APPROVED:
39 ATTEST:
41 'r Q
42 J �...�_ anae a as cjki Mayyq
43 City Clerk Jim 1Tairley
44 Robbie Hancock
45 (SEAL)
46
47
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1 APPROVED AS TO FORM:
2
3 /
4 �d..o,..,..., �. c.,.
5 City Attor y
6
7
492