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• • 2002149173
06/05/2002 09:80:00 AN
Filed 8 Recorded in
Official Records of
CAROLYN STALEY
RESOLUTION 11,290 PULASKI COUNTY
CIRCUIT /COUNTY CLERK
Fees $17.00
A RESOLUTION TO AUTHORIZE THE TRANSFER OF TITLE OF
CERTAIN PROPERTY TO RUSSELL MATCHETT; AND FOR OTHER
PURPOSES.
WHEREAS, on November 7, 1997, the City was notified that President and Mrs.
Clinton had decided that Little Rock would be the site of the William Jefferson Clinton
Presidential Library, and on that date adopted Little Rock, Ark., Resolution No. 10,125
(November 7, 1997), to create the William Jefferson Clinton Presidential Park District
( "Clinton Presidential Park "), and
WHEREAS, pursuant to Little Rock, Ark., Ordinance No. 17,690 (March 17, 1998)
( "LRO _ ") the City issued capital improvement revenue bonds, authorized by
Amendment 65 to the Arkansas Constitution, and declared its iniention to use part of the
the proceeds from this bond issue to pay for land acquisition for the Clinton Presidential
Park which included the purchase of certain properties from the Union Pacific Railroad,
and
WHEREAS, in 1998 and 1999 the City began to acquire property, through purchase
or condemnation, for the property within the park boundaries which includes a certain
amount of now abandoned right -of -way owned by the Union Pacific Railroad and the old
railroad bridge immediately adjacent to the park site, and
WHEREAS, LRO 17,690 expressly authorizes that some of the proceeds may be
used to purchase this right -of -way for inclusion in the Clinton Presidential Park, and to the
extent necessary may be used to move the railroad switch that otherwise would serve this
"p<.agneaaanoD
area and other railroad right -of -way in the near vicinity and° "part ofjthe, qrk chain along
0 J ♦ 1 .i '.� �''G °e
the Arkansas River, and ✓ II-���' :" ° "''i ��
� — r
[PAGE 1 OF 41 u3 , i :7) e
Resolution .,
Transfer of Property to Russell MatcheH % •Q�l 1 A� a<i
0 0
1 WHEREAS, pursuant to Little Rock, Ark., Resolution No. 11,173 (December 4,
2 2001), the Board approved the purchase of this right -of -way from the railroad pursuant to
3 terms and conditions substantially in compliance with the contract attached as Exhibit A to
4 the resolution, and
5 WHEREAS, prior to the finalization of this purchase agreement, Mr. Russell
6 Matchett, the owner of certain properties along the right -of -way and adjacent to the Julius
7 C. Breckling Riverfont Park, was approached by the railroad about the possible purchase
8 of certain abandoned right -of -way, but instead of making a purchase from the railroad,
9 entered into an agreement with the City for the purchase of this property, and
10 WHEREAS, during the period between this agreement, and the City's ability to
11 close on this property, Mr. Matchett agreed to enter into a lease with the City and to pay a
12 sum which is now equal to twenty six thousand four hundred and eighty-four dollars
13 ($26,484.00), for property which has been appraised by the City as being worth
14 approximately twenty one thousand eight hundred and eighty-two dollars ($21,882.00),
15 and
16 WHEREAS, the ability of the City to own of this railroad right -of -way is essential
17 for the creation of the Clinton Presidential Park, as well as for the enhancement of the
18 Julius C. Breckling Riverfront Park, and so to facilitate such ownership the City made the
19 initial purchase with the knowledge that the small area set forth in this resolution would
20 later be transferred to Mr. Matchett for twenty-one thousand eight hundred and eighty-
21 two dollars of the monies the City from Mr. Matchett as rent,
22 WHEREAS, these monies will be transferred to the Construction Fund of the Parks
23 & Recreation Bond Fund established in LRO 17, 690, and be used for the construction of
24 certain improvements in Riverfront Park,
25 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
26 THE CITY OF LITTLE ROCK, ARKANSAS:
[PACE 2 OF 41
Resolution
Transfer of Property to Russell Matchett
0
0
1 Section 1. The Mayor and City Clerk are authorized to execute any and all
2 documents to effect the transfer of title of certain abandoned right -of -way acquired from
3 the Union Pacific Railroad to Mr. Russell Matchett, this property being more particularly
4 described as follows:
5 The South 41.0 feet of Lots 1, 2, and 3, Block 35; AND the South 41.0 feet of the
6 East Half of Lot 4, Block 35, all in the Original City of Little Rock, Pulaski
7 County, Arkansas, containing approximately 7,294 square feet, more or less.
8 Section 2. The purchase price for this property has been agreed by the parties to
9 be twenty one thousand eight hundred and eighty-two dollars ($21,882.00), and the
10 purchaser is given credit for this amount paid to the City as a part of a rental agreement
11 entered into previously; in addition, the purchaser has agreed to make boundary
12 improvements to the property which the City estimates to be worth twenty thousand
13 dollars ($20,000.00).
14 Section 3. The Director of Finance & Treasurer shall transfer twenty one
15 thousand eight hundred and eighty-two dollars ($21,882.00) of the sums received by the
16 City Parks & Recreation Department as the interim rental for this property from the
17 appropriate Parks & Recreation fund into the Construction Fund, as established in Section
18 5.03 of the Master Trust Indenture, of the $16,405,000 City of Little Rock, Arkansas, Capital
19 Improvement Revenue Bonds: Parks & Recreation Projects, Series 1998).
20 Section 4. Severability. In the event any title, section, paragraph, item, sentence,
21 clause, phrase, or word of this resolution is declared or adjudged to be invalid or
22 unconstitutional, such declaration or adjudication shall not affect the remaining portions
23 of the resolution which shall remain in full force and effect as if the portion so declared or
24 adjudged invalid or unconstitutional was not originally a part of the resolution.
25 Section 5. Repealer. All resolutions, bylaws, and other matters inconsistent with
26 this resolution are hereby repealed to the extent of such inconsistency.
[PACE 3 OF 4]
Resolution
Transfer of Property to Russell Matchett
0
1 ADOPTED: May 21, 2002
2 ATTEST:
3
r
4
5 Nataki S. 16Wght, As '.tant City Clerk
6 APPROVED AS TO LEGAL FORM:
7
9 Thomas M. Carpenter, City Attorney
to H
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[PACE 4 OF 41
Resolution
Transfer of Property to Russell Matchett
0
APPROVED:
7Cu&Z
Ji Dailey, Mayor