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1 RESOLUTION NO. 10,622
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3 A RESOLUTION TO APPROVE THE PURCHASE FOR $750,000 OF
4 1320 EAST SECOND STREET IN THE CITY OF LITTLE ROCK,
5 ARKANSAS, FOR THE WILLIAM JEFFERSON CLINTON
6 PRESIDENTIAL LIBRARY PARK; TO AUTHORIZE THE
7 EXECUTION OF ANY NECESSARY DOCUMENTS; AND FOR
8 OTHER PURPOSES.
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10 WHEREAS, the City Board of Directors created the William Jefferson Clinton Presidential
11 Library Park and desires to assure that, among other things, the park is large enough to house the
12 Clinton Presidential Library; and
13 WHEREAS, certain property at 1320 East Second Street within the area designated for the
14 Park is owned by Consolidated Pipe and Supply Co., Inc.; and
15 WHEREAS, the property was appraised at $620,000 by the City's appraiser, but was claimed
16 by the owner to be worth substantially more than that with consideration of additional costs, value,
17 and other matters of just compensation; and
18 WHEREAS, after consideration for the City's need for the property in the Park; the costs
19 of relocation of the business; the protection against further environmental cleanup responsibility by
20 the City; the saved expenses of not having to litigate a condemnation action and, in the process,
21 possibly having to pay a higher assessed cost, the parties have agreed that the City's appraised value,
22 plus some allowance for these additional costs, equal a total price of $750,000 as just compensation.
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I NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
2 THE CITY OF LITTLE ROCK, ARKANSAS: _
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3 Section 1. The Mayor, City Clerk and City Manager are authorized to execute documents,
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found by the City Attorney to be in correct legal form, which permit the purchase of the east half of
Block 14, all of Block 17, a portion of Block 19, Russell's Addition to the City of Little Rock,
Arkansas, more fully described in Exhibit "A ", attached hereto, for the amount of Seven Hundred
Fifty Thousand Dollars ($750,000.00), plus or minus reasonable closing costs as determined by the
title company, which sum has been agreed by the parties to constitute just compensation.
Section 2. Funds for this purchase are available from Account No.210 -21 -4- 095 -7.
ADOPTED: August 3, 1999
ATTEST:
fix,. 0a-
Robbie Hancock, City Clerk
APPROVED AS TO FORM:
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Thomas M. Carpenter, Ci Attorney
APPROVED:
Jinkffiailey, Mayor
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The East % of Block 14, all of Block 17, and the west 20.0 feet of Block
19, and the East %s of a 20.0 foot alley adjacent to the western boundary
of the East '/z of Block 14, all in Russell's Addition to the City of Little
Rock, Pulaski County, Arkansas, and more particularly described as
follows:
Beginning at a point on the North right -of -way line of East Second Street
and 20 feet East of the SE corner of said Block 17; thence N 87 050'20" W
560.39 feet along said North right -of -way line to a point on the centerline
of a closed 20- ft- alley; thence N 01 °59157" E 372.98 feet along said
centerline to a point on the U.S. Army Corps of Engineers 234 ft M.S.L.
"Perpetual Easement" line; thence along said "Perpetual Easement" line
the following courses and distances: S 75 °36'43" E 81.19 feet; S
77 040'43" E 126.93 feet; S 69 045'03" E 69.47 feet; S 810 28'12" E 149.30
feet' S 77 °40'43" E 126.93 feet; S 69 °45'03" E 69.47 feet; S 81° 28'12"
E 149.30 feet; S 77°24'33" E 94.75feet; S 71° 2750" # 51.03 feet to a
pint; thence departing from said "Perpetual Easement" S02001'51" W
263.73 feet to the point of beginning.
less.
Area containing 4.0902 acres (178,170.06 square feet), more or
EXHIBIT A