128252009009642 Received: 2/13/2009 2:16:47 PM
Recorded: 02/13/2009 02:42:26 PM Filed 8.
Recorded in Official Records of PAT O'BRIEN,
PULASKI COUNTY CIRCUIT /COUNTY CLERK
RESOLUTION NO. 12,825 Fees $20.00
2 A RESOLUTION AUTHORIZING THE SALE OF CERTAIN REAL PROPERTY
3 LOCATED IN THE LITTLE ROCK PORT INDUSTRIAL PARK; AUTHORIZING
4 THE MAYOR AND'CITY CLERK TO EXECUTE A SPECIAL WARRANTY
5 DEED FOR THE CONVEYANCE; AND FOR OTHER PURPOSES.
6 WHEREAS, Burlington Northern Santa Fe, a Delaware corporation (the "Purchaser "),
7 desires to purchase certain real property located in the Little Rock Port Industrial Park owned
8 by the City of Little Rock, Arkansas (the "City "), and
9 WHEREAS, Purchaser has made an offer in the sum of One Hundred and Forty Thousand
10 and NO /100 Dollars ($140,000.00) for the property, and
11 WHEREAS, the Little Rock Board of Directors finds that the proposed sale to the
12 Purchaser will help to secure and develop industry in the Little Rock Port Industrial Park,
13 thereby providing employment and payroll.
14 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
15 LITTLE ROCK:
16 Section 1. The sale of the property for the consideration stated above is approved and
17 the Mayor and City Clerk are authorized and directed to execute for and on behalf of the City a
18 Special Warranty Deed and the appropriate plat and bill of assurance, conveying the property
19 to the Purchaser or its designee, upon full payment of the purchase price in the sum of One
20 Hundred Forty Thousand, and NO /100 Dollars ($140,000.00) paid to the Little Rock Port
21 Authority.
22 Section 2. The property is substantially described as follows, with such changes as shall
23 be approved by the City Attorney and the Mayor; the execution of the Special Warranty Deed
24 authorized by this resolution shall constitute evidence of such approval:
25 LEGAL DESCRIPTION
26
27 LAND DESCRIPTION TRACT R AREA 201
28
29 A parcel of land located in the NW 1/4 SW 1/4 of Section 16, and the NE 1/4,
30 SE 1/4 of Section 17, Township 1 North, Range 11 West, Pulaski County,
31 Arkansas being more particularly described as follows:
32
33 Commencing at the SW Corner of Section 16, Township 1 North, Range 11
34 West, Pulaski County, Arkansas, thence N1 °33'49 "E, 929.80 feet along the West
35 line of said Section 16; thence N89 °47'08 "W, 242.14 feet; thence NO' 12'52"E,
36 956.13 feet to a point on the North right -of -way line of Lindsey Road; thence
37 S89-47'08"E, 149.37 feet to the Southeast Corner of Tract D, Area 201, Little
38 Rock Port Industrial Park, Little Rock, Arkansas being the Point of Beginning;
39 thence continuing S89 °47'08 "E, 220.35 feet to the southwest corner of Tract Q
40 Area 201 Little Rock Port Industrial Park, Little Rock, Arkansas; thence �.•'•�(�E CIf?c %
41 N00° 12'52'E, along the west line of said Tract Q, 308.28 feet to the South right- 04
42 of -way line of a Little Rock Port Authority Railroad Track; thence along a curve:
43 to the left having a 501.67 foot radius and a chord bearing and distance o€ to 4 �l ' `
�..:..; �G:
44 N66 °34'39 "W, 155.85 feet, for a distance of 156.48 feet ; thence
continuing—+
45 along said south right -of -way line N75 ° 30'48 "W 79.57 feet to the east line of- -, ~ ' CO
[PAGE 'I OF 2]
RESOLUTION ,'4� . •'
To authorize sale of property in Little Rock Port Industrial Park
I said Tract D; thence S00 °12'52 "W, 389.31 feet to the Point of Beginning; said
2 parcel containing 1.801 acres (78,453 S.F.) more or less.
3 Section 3. Severability. In the event any section, subsection, subdivision, paragraph,
4 subparagraph, item, sentence, clause, phrase, or word of this resolution is declared or
5 adjudged to be invalid or unconstitutional, such declaration or adjudication shall not affect the
6 remaining portions of this resolution, which shall remain in full force and effect as if the
7 portion so declared or adjudged invalid or unconstitutional were not originally a part of this
8 resolution.
9 Section 4. Repealer. All laws, ordinances, resolutions, policies, or parts of any such
10 material, in conflict with the provisions of this resolution are hereby repealed to the extent of
11 such inconsistency.
12 Section 5. This Resolution shall be in full force and effect from the date of its
13 adoption.
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ADOPTED: February 3, 2009
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Attor e
APPROVED:
Ilk
Mark Stodola, Mayor
RESOLUTION [PAGE 2 OF 2]
To authorize sale of property in Little Rock Port Industrial Park