6477 RESOLUTION NO. 6 , 477
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
A WARRANTY DEED IN FAVOR OF INTERSTATE DISTRIBUTING COMPANY
PURSUANT TO AN OPTION TO PURCHASE ENTERED INTO BY THE LITTLE
ROCK PORT AUTHORITY AND THE SAID INTERSTATE DISTRIBUTING
COMPANY AS TO TRACT N, AREA 201, 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. Interstate Distributing Company has optioned to
purchase approximately 2 . 80 acres of land described as Tract N, Area
201 , Little Rock Port Industrial Park, pursuant to an option to purchase
agreement dated September 9 , 1980. The tract of land under considera-
tion is more particularly described as follows :
A tract of land situated in the NE-1/4 SW-1/4 of
Section 16, Township 1 North, Range 11 West
of the Fifth Principal Meridian, City of
Little Rock, Pulaski County, Arkansas, being
more particularly described as follows:
Commencing at the Southwest Corner of Section
16, Township 1 North, Range 11 West of the
Fifth Principal Meridian; thence along the
West line of said Section 16, N 01° 33' 49" E,
929.80 feet; thence N 89° 47' 08" W, 242.14
feet; thence N 00° 12' 52" E, 956.13 feet to
a point on the North right-of-way line of
Lindsey Road; thence along said North right-
of-way line of Lindsey Road, S 89° 47' 08" E,
1602.15 feet to the Southeast Corner of Tract
L, Area 201 of the Little Rock Port Industrial
Park, said point also being the Point of Be-
ginning; thence continuing along said North
right-of-way line of Lindsey Road, S 89° 47' 08" E,
420.58 feet; thence N 00° 12' 52" E, 290.00
feet; thence N 89° 47' 08" W, 420.58 feet to
the Northeast Corner of Tract L, Area 201 of
the Little Rock Port Industrial Park; thence
along the East line of said Tract L, Area 201,
S 00° 12' 52" W, 290.00 feet to the Point of
Beginning, and containing 2.80 acres, more or
less, also known as Tract N, Area 201, LITTLE ROCK PORT INDUSTRIAL PARK.
SECTION 2. As per the terms of the option to purchase agree-
ment dated September 9 , 1980 , Interstate Distributing Company will pay
the sum of $120 ,000. 00 for the property abovedescribed.
SECTION 3. The Board of Directors of the City of Little Rock
hereby approves the sale of the property described herein to Interstate
Distributing Company , and the Mayor is hereby authorized and directed
to execute for and on behalf of the City of Little Rock a Warranty Deed
RESOLUTION - Page 2
and the appropriate Plat and Bill of Assurance , conveying said property
to Interstate Distributing Company ; 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
Interstate Distributing Company upon full payment of consideration in
the sum of $120 , 000. 00.
SECTION 4. This Resolution shall be in full force and effect
from the date of its adoption.
ADOPTED: December 5 , 1980
ATTEST: APPROVED: .1;41 '
City Clerk Mayor