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5338 RESOLUTION NO 5,338 A RESOLUTION AUTHORIZING AN AGREEMENT BETWEEN THE CITY OF LITTLE ROCK, ARKANSAS AND THE ECONOMIC DEVELOPMENT ADMINISTRATION; AND FOR OTHER PURPOSES BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS . SECTION 1. The City Manager is hereby authorized and directed on behalf of the City of Little Rock, to execute an agreement with the Economic Development Administration whereby it is specified that Project No. 08-01-01076 of the EDA is now completed and the project facilities will be restricted to public purposes only. A copy of said Agreement is attached to this Resolution as Exhibit "A" . SECTION 2 . This Resolution shall be in full force and effect from and after its adoption. ADOPTED: February 18, 1975 is r ATTEST : / APPROVED: ity Cler Mayo A G R E E M E N T This Agreement made the day of , 1975, by and between the CITY OF LITTLE ROCK, whose address is City Hall, Markham and Broadway, Little Rock, Arkansas 72201 (hereinafter with its successors and assigns called the "City") , 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. 08-01-01076, a request was made by the Board of Water Works Commissioners of the City of Little Rock, Arkansas (hereinafter called "Board") 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 January 8, 1971, as amended, EDA offered a grant to Board to assist in financing the construction of facilities for a public purpose, to-wit: improvements to the water system including water mains, 4,000,000 gallon storage facility and appurtenances (hereinafter called the "Project Facilities") in the City of Little Rock, Pulaski County, Arkansas, more particularly described in Exhibit "A" attached hereto and made a part hereof; and WHEREAS, by virtue of its acceptance of the Offer of Grant, the Board 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 covenant be recorded in the appropriate public records affecting real property in Pulaski County, Arkansas, and thereby constitute a notice to all persons of restrictions on title to and use of the Project Facilities; and WHEREAS, title to real property operated by the Board is, under Arkansas law, vested in the City and the conveyance thereof is vested in the City; NOW, THEREFORE, in consideration of financial assistance rendered and/or to be rendered by EDA and to assure that the benefits of the Project Facili- ties will accrue to the public as intended by both EDA and the Board, the City hereby covenants and agrees as follows: 1. That for the term specified in 2, below, the City will retain its title to the Project Facilities and whatever title it has to the real property, or the easements thereon as the case may be, upon which said Project Facilities are located, which are described in Exhibit "A" attached hereto and made a part hereof; 2. That the term for which the City 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; 4. That for the term specified in 2, above, conveyance of all or part of the Project Facilities shall be prohibited, by deed, provided nothing herein shall in any manner restrict the City or the Board from mortgaging, pledging, leasing or otherwise encumbering the Project Facilities, it being the intention of this instrument to only restrict the ownership of the Project Facilities and to not prohibit the pledging thereof to secure in- debtedness by bond indenture or mortgage, or to otherwise lease or use the facilities. Any mortgage, pledge, indenture, lease or other such instrument executed by the City or the Board shall be subject to the restrictive cove- nant in Paragraph 3 hereof and shall contain the following provision: "The real property described in this instrument is subject to a covenant dated , 1975, restricting the use of the property to public purposes only"; and 1 of 2 5. That the covenants and restrictions herein contained shall be real covenants and shall run with the land described in Exhibit "A" hereto; pro- vided, however, that the aforesaid covenants and restrictions shall terminate automatically at 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 have hereunto set their hands as of the day and year first above written. CITY OF LITTLE ROCK Little Rock, Arkansas By: Mayor . ATTEST: • City Clerk ECONOMIC DEVELOPMENT ADMINISTRATION UNITED STATES OF AMERICA By: /� -e 2 /, j �✓ J._eph B. wanner Regional Director Southwestern Region STATE OF ARKANSAS X COUNTY OF PULASKI ) On this day personally appeared before the undersigned, a Notary Public within and for the County and State aforesaid, duly qualified, commissioned and acting, the within named and , to me personally well known, who stated that they were the Mayor and City Clerk, respectively, of the City of Little Rock, Arkansas, and stated and acknowledged that they were duly authorized in their respective capacities to execute the foregoing instrument, and further stated and acknowledged that they had so signed, executed and delivered said foregoing instrument for the consideration and purposes therein mentioned and set forth. WITNESS my hand and official seal on this day of , 1975. (SEAL) Notary Public My Commission expires: STATE OF TEXAS I COUNTY OF TRAVIS On this = day of 7�7,-ct ;7`-,. , 1975, before me, a Notary Public, personally appeared Joseph B. Swannef, Regional Director, Southwestern Regional Office, Economic Development Administration, United States of America, known to me to be the person described in the foregoing instrument, 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 � J day of ��,2 ce, r c/ , 1975. • (SEAL) _ • E <7-s otarublic in and for -Travis County, Texas bye F. Wi'n'e Hotery Public,Trrii,rAucty, Tcx.R My Ccmmbelon • • 2 of 2 EXHIBIT "A" All rights, title and interest of the City of Little Rock, Pulaski County, Arkansas, in and to the following real property: A part of the E 1/2 of the SE 1/4 of Section 23, Township 1 North, Range 12 West, Pulaski County, Arkansas , more particularly described as follows: Begin at a point on the East line of said SE 1/4 which is approximately 100 feet South of the Northeast corner thereof and run thence South along said East line approximately 1,500 feet; thence West 350 feet; thence North 700 feet; thence East 250 feet, thence North approximately 800 feet; thence East 100 feet" to the point of beginning. A strip of land 20 feet in width in the NE 1/4 of the NE 1/4 of Section 18 and in the SE 1/4 of the SE 1/4 of Section 7, all in Township 1 North, Range 11 West, Pulaski County, Arkansas, ' being 10 feet on each side of a center line described as : Commence 59.14 feet West of the East line of said Section 18 on the North right of way of East Roosevelt Road and run thence North 47 degrees 07 minutes West 567.5 feet to the end of this easement on the East right of way line of the access road to the new Adams Field Air Terminal in the SE 1/4 of the SE 1/4 of said Section 7. A strip of land 20 feet in width, being 10 feet on each side of a center line described as: Commence at the Northeast corner of the SE 1/4 of the SE 1/4 of Section 11, Township 1 North, Range 12 West, Pulaski. County, Arkansas , and run thence West along the North line of said SE 1/4 of the SE 1/4 186 feet, more or less, to a point on the West right of way line of CRI&P Railroad; thence South 1 degree 43 minutes 50 seconds West 251.10 feet; thence North 88 degrees 18 minutes 30 seconds West 76.67 feet to the point of beginning; thence North 15 degrees 01 minutes 00 seconds West 261 feet, more or less, to the North line of said SE 1/4 of the SE 1/4; thence North 2 degrees 48 minutes 55 seconds West 1333 feet, more or less, to the South line of East 17th Street in the City of Little Rock and the end of this easement. • Being all real property described in consent judgement, case numbers: 78541, 78542 and 78544, in the Circuit Court of Pulaski County, Arkansas. • • • • • Being all real property described in these documents filed for record in the office of the Circuit Clerk of Pulaski County, Arkansas in as follows: • • Book 1171, Page 309 through 311 Book 1171, Page 312 through 314 Book 1171, Page 315 through 317 Book 1171, Page 318 through 320 Book 1172, Page 1 through 3 Book 1172, Page 4 through 6 Book 1172, Page 7 through 9 Book 1172, Page 10 through 12 Book 1172, Page 21 through 23 . Book 1172, Page 501 through 503 Book 1172, Page 504 through 506 Book 1172, Page 513 through 516 Book 1172, Page 521 through 523 . . Book 1176, Page 295 through 297 Book 1176, Page 302 through 304 Book 1176, Page 305 through 307 Book 1176, Page 308 through 310 Book 1176, Page 311 through 315 Book 1176, Page 316 through 318 Book 1176, Page 321 through 323 Book 1181, Page 335 through 337 Book 1183, Page 271 through 273 Book 1183, Page 274 through 276 Book 1183, Page 277 through 279 Book 1183, Page 280 through 282 Book 1183, Page 283 through 285 Book 1183, Page 286 through 288 ,. . Book 1183, Page 289 through 291 . • Book 1183', Page -292 through 294 •. Book 1186, Page 159 through 161 Book 1186, Page 165 through 168 • • Book 1190, Page 461 through 463 • Exhibit "A" to an Agreement between the City of Little Rock, Arkansas, and the United States of America, Economic Development Administration, U. S. Department of Commerce, Project Number 08-01-01076.