5053 RESOLUTION NO. 5,053
A RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT
WITH ECONOMIC DEVELOPMENT ADMINISTRATION, UNITED STATES
OF AMERICA PERTAINING TO THE CONVENTION CENTER IMPROVE-
MENTS AT THE ROBINSON AUDITORIUM; AND FOR OTHER PURPOSES .
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
ROCK, ARKANSAS .
SECTION 1. The Mayor and City Clerk are hereby authorized acting
for and on behalf of the City of Little Rock to execute an agreement
with the Economic Development Administration, United States of America,
the substance of which is a covenant committing the City to utilize
the Convention improvements on the site of the Robinson Auditorium
in Little Rock, Arkansas for public purposes only. Said agreement
is in form and substance as reflected by "Exhibit A" attached hereto
and made a part hereof as same as though set out herein word for word.
SECTION 2 . This Resolution shall be in full force and effect
from and after its adoption.
ADOPTED: August 21, 1973
G
ATTEST: G142-Z/ APPROVED:4//4'.c1
C ty Clerk Mayor
A G R E E M E N T
This Agreement made the day of , 19___,
by and between the CITY OF LITTLE ROCK, Arkansas, whose address is City
Hall, Broadway and Markham, Little Rock, Arkansas 72201 (hereinafter with
its successors and assigns called the "Undersigned") , and the ECONOMIC
DEVELOPMENT ADMINISTRATION, UNITED STATES OF AMERICA, whose address is
Main Commerce Building, Washington, D. C. 20230 (hereinafter with its
successors and assigns called "EDA"):
WHEREAS, pursuant to application designated as EDA Project No.
08-1-01104, a request was made by the Undersigned for financial assistance
pursuant to the Public Works and Economic Development Act of 1965 (P. L.
89-136; 42 U.S.C, 3121, et seq.); and
WHEREAS, by Offer of Grant dated June 25, 1971, as amended by Offer
to Amend Grant Agreement (Amendment No. 1) dated November 22, 1971, and
Offer to Amend Grant Agreement (Amendment No. 2) dated January 31, 1972,
EDA offered a grant in the amount of $1,924,000.00 to the Undersigned to
assist in financing the construction of convention center improvements at
and on the site of Robinson Auditorium (hereinafter called the "Project
Facilities") in Little Rock, Pulaski County, Arkansas, the location of
which is more particularly described in Exhibit "A" which is attached
hereto and made a part hereof, all or part of which Project Facilities
will be to the use and benefit of the real property described in said
Exhibit "A"; and
WHEREAS, on June 30, 1971, December 2, 1971, and February 7 , 1972,
the Undersigned accepted the Offer of Grant and Amendments Nos. 1 and 2
thereof, subject to the "Standard Terms and Conditions" incorporated
therein by reference; and
WHEREAS, pursuant to the aforesaid "Standard Terms and Conditions"
and by virtue of its acceptance of the Offer of Grant, the Undersigned
covenanted and agreed that it, or a successor satisfactory to EDA, will
retain title to the Project Facilities for their useful life and that the
Project Facilities will be devoted to public purposes; and
WHEREAS, it is desirable that the Undersigned's covenant be recorded
in the appropriate public records affecting real property in Pulaski County,
Arkansas, and thereby constitute notice to all persons of restrictions on
title to and use of the Project Facilities;
NOW, THEREFORE, in consideration of financial assistance rendered
and/or to be rendered by EDA and to assure that the benefits of ttm Project
Facilities will accrue to the public as intended by both EDA and the Under-
signed, the Undersigned hereby covenants and agrees as follows:
1. That for the term specified in 2, below, the Undersigned
will retain its title to the Project Facilities and its title to the real
property upon which said Project Facilities are located, which real property
is described in Exhibit "A" attached hereto and made a part hereof;
2. That the term for which the Undersigred agrees to retain its
title to the Project Facilities and its title to the real property upon
which the Project Facilities are located shall be for the useful life of
the Project Facilities which has been determined to be forty (40) years
from the date hereof;
3. That during the term specified in 2, above, the Project
Facilities will be held for and be devoted to public purposes only; and
4. That the covenants and restrictions herein contained shall
be real covenants and shall run with the land described in Exhibit "A"
hereto; provided, however, that the Undersigned may, at its sole option,
terminate the aforesaid covenants and restrictions at any time after the
expiration of the term set forth in 2, above; provided further, however,
that prior to the expiration of said term the covenants and restrictions
may be terminated only with the prior written consent of EDA.
IN WITNESS WHEREOF, the Undersigned has hereunto set its hand as of
the day and year first above written by its duly authorized officer in
accordance with authority granted to him by action of the governing body
of the City of Little Rock, adopted on , 1973,
and designated .
CITY OF LITTLE ROCK
(SEAL)
By:
ATTEST: Title
Title:
WITNESSES:
ECONOMIC DEVELOPMENT ADMINISTRATION
UNITED STATES OF AMERICA
if
BY: ! '„# /d _ . ti
.os-4$' B. S g..nn
Act ng Regional Director
Southwestern Region
STATE OF ARKANSAS I
COUNTY OF PULASKI 1
On this the day of , 1973, before me,
, the undersigned officer, personally ap-
peared and ,
of the City of Little Rock, known to me to be the persons described in the
foregoing instrument, and acknowledged that they executed the same in the
capacities therein stated and for the purposes therein contained.
IN WITNESS WHEREOF I hereunto set my hand and official seal.
(SEAL)
Title:
STATE OF TEXAS 1
COUNTY OF TRAVIS 1
On this 26th day of July , 1973, before me, a Notary Public,
personally appeared Joseph B. Swanner , Acting Regional Director,
Southwestern Regional Office, Economic Development Administration, Department
of Commerce, known to me to be the person described in the foregoing instru-
ment, and acknowledged that he executed the same in the capacity therein
stated and for the purposes therein contained, and that he is duly authorized
in the premises.
GIVEN UNDER MY HAND AND SEAL this - 26th day of July , 1973.
(SEAL) Joye V Hickman, Notary Public
(in and for Travis County, Texas
-2-
1
E X H I B I T •
•
•
"A"
•
Part of Block 100, Original City of Little Rock, Pulaski County, Arkansas.
. described as follows :
Beginning at the SW corner of said block 100; thence north along the west
line of said block 100, 300.0' to the NW corner thereof; thence east along
the north line of said block 100, 187.0' ; thence south parallel to the west
line of said block 100, 72.5' ; thence east parallel to .the south lineof
said block 100, 20' ; thence south parallel to the west line of said block
100, 227.5' to a point on the south line of said block 100; thence west
along said south line of said block 100, 107.0' to the SW corner thereof,
the point of beginning, containing 1.392 acres, more' or less.
/87' .
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