127801
RESOLUTION NO. 12,780
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER AND THE MAYOR TO
4 NEGOTIATE A PURCHASE PRICE FOR THE LAND COMMONLY REFERRED
5 TO AS THE WESTERN HILLS COUNTRY CLUB; TO AUTHORIZE THE MAYOR
6 TO NEGOTIATE A PURCHASE PRICE FOR PROPERTY INTENDED TO
7 BECOME PART OF THE WEST CENTRAL BALLPARK COMPLEX IN
s ROSEDALE; TO AUTHORIZE OTHER CITY OFFICIALS TO EXECUTE OR
9 NOTARIZE ANY NECESSARY DOCUMENTS; TO MAKE THE PAYMENT FOR
10 THESE PARCELS SUBJECT TO THE ISSUANCE OF CITY REFUNDING BONDS;
11 AND FOR OTHER PURPOSES.
12 WHEREAS, pursuant to Little Rock, Ark., Resolution No. 12,753 ( "LRR 12,573 "), the Board of
13 Directors stated an intent to refund ( "2008 Parks Refunding Bonds ") the $15,540,000 City of Little Rock,
14 Arkansas, Capital Improvement Revenue Bonds, Parks and Recreation Projects (Series 1998A), which had
15 been authorized by Little Rock, Ark., Ordinance No. 17,690 (March 17, 1998), (1998 Parks Revenue Bonds);
16 and,
17 WHEREAS, Section 2 of LRR 12,753, stated the City's intent to reimburse itself, from the proceeds of
18 the 2008 Parks Refunding Bonds the cost of expenditures made prior to the actual issuance of the bonds and
19 receipt of the proceeds; and,
20 WHEREAS, Ark. Code Ann. § 14- 504- 302(c) (West Supp. 2008), requires that prior to the execution of
21 contracts for the conveyance of land there must be a resolution of the governing body which authorizes such
22 action; and,
23 WHEREAS, it is important that the Board of Directors permit the City Manager and the Mayor to
24 negotiate for the price of the Western Hills Country Club land to be purchased; and,
25 WHEREAS, it is important that the Board of Directors permit the City Manager and the Mayor to
26 negotiate for the price of the land to be added to the West Central Ballpark Complex at Rosedale.
27 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
2 8 LITTLE ROCK, ARKANSAS:
[PAGE 1 Or 2]
Resolution
To authorize negotiation for purchase of Western Hills Country
Club and Rosedale Optimist Club with funds from 2008 Parks
Refunding Bonds
1 Section 1. The City Manager and the Mayor are authorized to negotiate purchase prices for the following
2 pieces of property:
3 (a) The property at 5207 Western Hills Boulevard, and its environs, which is commonly referred to as
4 the Western Hills Country Club;
5 (b) The property located adjacent to what is commonly known as the Rosedale Optimist Club, and
6 which shall become the West Central Ballpark Complex.
7 Section 2. Any negotiation and offer to purchase the property shall be contingent upon the issuance of the
s 2008 Refunding Bonds, and the receipt of the proceeds from those bonds.
9 Section 3. The City Clerk, City Manager, and City Attorney are authorized to execute and approve any
10 and all documents that are necessary to memorialize these negotiations, or to create a binding offer and
11 acceptance for the purchase of the properties set forth in Section 1 of this Resolution.
12 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or word
13 of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or adjudication
14 shall not affect the remaining portions of the resolution which shall remain in full force and effect as if the
15 portion so declared or adjudged invalid or unconstitutional was not originally a part of the resolution.
16 Section 5. Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with the
17 provisions of this resolution are hereby repealed to the extent of such inconsistency.
18 ADOPTED: November 3, 2008
19 ATTEST:
20
21
22 Nan Wood, ity Clerk
23
24 APPROVED AS TO FORM:
25
26 (GC
27 Thomas M. Carpenter, City A orney
PAGE 2 OF 2]
Resolution
To authorize negotiation for purchase of Western Hills Country
Club and Rosedale Optimist Club with funds from 2008 Parks
Refunding Bonds
Mark Stodola, Mayor