HomeMy WebLinkAbout15197 1 RESOLUTION NO. 15,197
2
3 A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO
4 EXECUTE A SPECIAL WARRANTY DEED CONVEYING REAL
5 PROPERTY OWNED BY THE LITTLE ROCK PORT AUTHORITY, AN
6 INSTRUMENTALITY OF THE CITY OF LITTLE ROCK, ARKANSAS,
7 LOCATED TO THE SOUTH OF ZEUBER ROAD AS MORE FULLY
8 DESCRIBED HEREIN; AND FOR OTHER PURPOSES.
9
10 WHEREAS, the Little Rock Port Authority (the "Port Authority"), an instrumentality of the City of
11 Little Rock,Arkansas,owns that certain real property located to the south of Zeuber Road that is more fully
12 described below(the"Real Property"); and,
13 WHEREAS, the Port Authority has entered into a certain Real Estate Purchase and Sale Agreement
14 on October 28, 2019 (the "Purchase Agreement"), with PDC TN/FL LPIV, LLC, a Delaware limited
15 liability company, or its assigns (collectively, "Purchaser") pursuant to which the Purchaser desires to
16 acquire the Real Property; and,
17 WHEREAS,the Port Authority Board of Directors has determined that it is in the best interest of the
18 Port Authority and the City to convey the Real Property to the Purchaser in accordance with the terms of
19 the Purchase Agreement and in consideration for that purchase price that is more fully set forth therein;
20 and,
21 WHEREAS, the City Board of Directors has additionally determined that it is in the best interest of
22 the City to convey the Real Property to the Purchaser in accordance with the terms of the Purchase
23 Agreement and in consideration for that purchase price that is more fully set forth therein; and,
24 WHEREAS,a copy of the Purchase Agreement has been delivered to the City Clerk and is available
25 for inspection at any time, the terms and conditions which have been reviewed and approved by the City
26 Board of Directors;and,
27 WHEREAS,before the City can alienate any interest in property,as demonstrated by the execution of
28 conveyance documents by the Mayor and City Clerk, it is required by Ark. Code Ann. Section 14-54-302
29 that the City Board of Directors adopt the resolution authorizing such action.
30 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
31 OF LITTLE ROCK,ARKANSAS:
32 Section 1. That the Mayor and City Clerk are hereby authorized to execute, in a form approved by the
33 City Attorney, any and all deeds and conveyance documents required in order to convey to the Purchaser,
34 or its assigns,that real property located in Pulaski County,Arkansas,that is more fully described as follows:
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1 Tract 2: Part of the Southeast Quarter of the Southeast Quarter; Part of the Southwest
2 Quarter of the Southeast Quarter; Part of the Northwest Quarter of the Southeast Quarter,
3 and Part of the Northeast Quarter of the Southeast Quarter of Section 20, Township 1
4 North,Range 11 West, Pulaski County, Arkansas, more particularly described as follows:
5 Commencing at the southeast corner of said Section 20;thence North 01°57'54"East 38.00
6 feet to the Point of Beginning; thence North 88°37'16" West 1,749.52 feet parallel with
7 the south line of said Section 20;thence North 01°40'06"West 1,990.39 feet to a point on
8 the southerly right-of-way line of Zeuber Road;thence along said right-of-way line South
9 83°16'59" East 415.65 feet; thence along a curve to the left having a radius of 2,914.29
10 feet and a chord bearing and distance of South 84°56'30" East 168.69 feet; thence South
1 1 86°35'58" East 936.35 feet; thence along a curve to the right having a radius of 4,921.49
12 feet and a chord bearing and distance of South 87°42'25" East 190.24 feet; thence South
13 88°48'52" East 101.62 feet; thence leaving said south right-of-way line of Zeuber Road,
14 South 01°57'54"West 1,175.08 feet;thence South 88°47'08"East 65.01 feet;thence South
15 01°57'54"West 727.56 feet along the East line of said Section 20 returning to the Point of
16 Beginning, containing 78.481 acres,more or less.
17 Tract 3: Part of the Southwest Quarter of the Southwest Quarter; Part of the Northwest
18 Quarter of the Southwest Quarter of Section 21,Township 1 North,Range 11 West,Pulaski
19 County, Arkansas, more particularly described as follows: Beginning at the southwest
20 corner of said Section 21; thence North 01°57'54" East 1,940.67 feet; thence South
21 88°48'52" East 35.00 feet; thence South 01°57'54" West 1,940.72 feet; thence North
22 88°45'52" West 35.00 feet returning to the Point of Beginning, containing 1.560 acres,
23 more or less.
24 Tract 4: Part of the Southeast Quarter of the Southeast Quarter and part of the Northeast
25 Quarter of the Southeast Quarter of Section 20,Township 1 North,Range 11 West,Pulaski
26 County, Arkansas, more particularly described as follows: Commencing at the southeast
27 corner of said Section 20; thence North 01°57'54" East 765.56 feet to the Point of
28 Beginning; thence North 88°47'08" West 65.01 feet; thence North 01°57'54" East
29 1,175.08 feet; thence South 88°49'12" East 65.00 feet; thence South 01°57'54" West
30 1,175.11 feet returning to the Point of Beginning,containing 1.754 acres, more or less.
31 Section 2. Purchase Agreement Ratification. The City Board of Directors hereby ratifies the
32 execution by the Port Authority of the Purchase Agreement and all amendments thereto.
33 Section 3. Severability. In the event any section, subsection, subdivision, paragraph, subparagraph,
34 item, sentence, clause, phrase or word in this resolution is declared or adjudged to be invalid or
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1 unconstitutional, such declaration or adjudication shall not affect the remaining provisions of this
2 resolution, as if such invalid or unconstitutional provision was not originally a part of this resolution.
3 Section 4. Repealer. All ordinances, resolutions, bylaws, and other matters inconsistent with this
4 resolution are hereby repealed to the extent of such inconsistency.
5 ADOPTED: April 7,2020
6 ATTE APPROVED:
7 '..11%;0
8 "4; -- ---...,/-,
9 .usa .le , ity Clerk Frank Scott, r.,Ma
10 APP' I ,J AS I II LEGAL FORM:
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13 Thomas M. Carpenter,City Attorn
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