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46 RESOLUTION NO. 10 ,1
A RESOLUTION TO APPROVE THE SALE OF
REAL PROPERTY OWNED BY THE CITY
CURRENTLY HELD FOR THE WATER WORKS
PURPOSES TO ONE NATIONAL BANK; TO
AUTHORIZE THE MAYOR AND CITY CLERK TO
EXECUTE ANY NECESSARY DOCUMENTS; TO
DIRECT THAT THE PROCEEDS BE PAID INTO
THE CITY GENERAL FUND; AND FOR OTHER
PURPOSES.
(Short Title)
"A Resolution to sell City property to One National Bank"
WHEREAS, the City owns certain property, which is currently be used
for water works purposes, that One National Bank wishes to purchase, and
WHEREAS, the Water Works Commission, by letter dated December
5, 1997, notes that it currently holds property at 11624 West Markham
Street for water works purposes, but this property is excess and is no longer
needed for such purpose, and
WHEREAS, the City believes that the offered purchase price is
reasonable,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. The Board of Directors accepts the statement from the
Little Rock Water Works Commission that the below described property
owned by the City, for the purpose of providing water works facilities to the
citizens of Little Rock, is no longer needed for water works purpose. The
legal description for such property is:
LOT 2:
A tract of land lying in the SE' /, NW '/,, Section 4, Township
1 North, Range 13 West, Pulaski County, Arkansas, being a
part of Tract "C" of Markham Commercial Subdivision, Pulaski
County and also a part of Lot 12, Dogwood Heights
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6657
1 Subdivw, according to an unrecorded surve &-reof, more
2 particularly described as:
3 Commencing at the SE corner of Tract "C ", said point being an
4 "X" chiseled in the north right of way of West Markham Street
5 and the point of beginning. Thence North 66 °52'33" West
6 along the North Line of said Tract "C" 412.52' to an iron pin
7 found in the East right of way of Bowman Road thence in a
8 southwesterly direction along said East right of way on a
9 curve to the left having a central angle of 10 °48'16" a radius
10 of 468.00' and a chord distance of 88.85' to an iron pin, said
11 iron pin being on the East right of way of Bowman Road and
12 on the North line of said Lot 12, Dogwood Heights Subdivision,
13 thence South 89'56'13" East 00', 63' along the North line of
14 said Lot 12, thence South 00 °03'47 "West, 76.50' to the North
15 right of way of West Markham Street, thence South
16 89 °56'13 "East along the North right of way of Markham Street
17 342.13' to the Point of Beginning, containing .67 acres more
18 or less.
19 Section 2. The Mayor and City Clerk are authorized to execute any
20 documents approved by the City Attorney that are necessary to transfer title
21 of the property described in Section 1 to One National Bank, Layton Stuart,
22 and their assigns.
23 Section 3. The proceeds from the sale of this property shall be
24 payable to the City of Little Rock, Arkansas, and shall be placed in the City
25 General Fund to be used for any municipal purposes approved by this Board
26 of Directors.
27 ADOPTED: December 16, 1997
28 ATTEST: APPROVED:
29
30 1 C�
31 Robbie Hancock, Citq Clerk Ji4WbaUey, Mayor
32
33 APPROVED AS TO LEGAL FORM:
34
35
36 -.r-
37 Thomas M. Carpenter, Ci Attorney
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