6232 RESOLUTION NO . 6,232
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
A WARRANTY DEED IN FAVOR OF SUBARU SOUTH, INC. PURSUANT TO
AN OPTION TO PURCHASE ENTERED INTO BY THE LITTLE ROCK PORT
AUTHORITY AND THE SAID SUBARU SOUTH , INC . , AS TO TRACT F,
AREA 104 OF THE LITTLE ROCK PORT INDUSTRIAL PARK, SAID DEED
TO CONVEY SAID LAND AS DESCRIBED HEREIN AND TO BE DELIVERED
UPON PAYMENT OF THE TOTAL AMOUNT OF THE PURCHASE PRICE; AND
FOR OTHER PURPOSES .
NOW, THEREFORE , BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS :
SECTION 1. Subaru South, Inc. has optioned to purchase
approximately 6 . 77 acres of land described as Tract F, Area 104, in
the Little Rock Port Industrial Park, pursuant to an option to purchase
agreement dated December 7 , 1978 . The tract of land under consideration
is more particularly described as follows :
A Tract of land situated in the Southeast 1/4,
Southeast 1/4 , Section 16 , Township 1 North,
Range 11 West of the Fifth Principal Meridian ,
Pulaski County, Arkansas , being more particularly
described as follows :
Commencing at the Southeast corner of Section 16 ,
Township 1 North, Range 11 West of the Fifth
Principal Meridian, thence N 01° 38 ' 26" E 60 . 00
feet to a point on the North Right-of-Way line
of Frazier Pike ; thence N 88° 47 ' 31" W, 388 . 18
feet along said North Right-of-Way line of Frazier
Pike to the point of beginning; thence continuing
along said North Right-of-Way line of Frazier Pike
N 88° 47 ' 31" W, 850 . 07 feet ; thence along a curve
to the right , said curve having a radius of 50. 00
feet , and chord bearing and distance of N 43° 38 '
20" W, 70. 89 feet to a point on the East Right-of-
Way line of Fourche Dam Pike; thence continuing
along said East Right-of-Way of Fourche Dam Pike ,
N 01° 30 ' 52" E , 281 . 58 feet ; thence S 88° 30 ' 22"
E , 900. 33 feet ; thence S 01° 30 ' 52" W, 327 . 36 feet
to the Point of Beginning, and containing 6 . 80
acres , more or less .
SECTION 2 . As per the terms of the option to purchase agree-
ment dated December 7 , 1978 , Subaru South , Inc. will pay the sum of
S200, 000. 00 for the p cperty aLovedescri}bed.
SECTION 3 . The Board of Directors of the City of Little Rock
hereby approves the sale of the property described herein to Subaru
South, Inc. , and the Mayor is hereby authorized and directed to execute
for and on behalf of the City of Little Rock a Warranty Deed, and the
appropriate Plat and Bill of Assurance , conveying said property to
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Subaru South, Inc . ; and the City Clerk is hereby authorized and directed
to attest said instruments and to deliver same to the Office of the
City Attorney for delivery of same to Subaru South, Inc. upon full
payment of consideration in the sum of $200 , 000. 00.
SECTION 4. This Resolution shall. be in full force and effect
from the date of its adoption.
ACCEPTED: November 6, 1979
17/40',/ATTEST: APPROVED: �7� /i
j
City Clerk Mayor