HomeMy WebLinkAbout12071RESOLUTION NO. 12,071
A RESOLUTION AUTHORIZING THE SALE OF CERTAIN REAL
PROPERTY LOCATED IN THE LITTLE ROCK PORT INDUSTRIAL PARK;
AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A
WARRANTY DEED FOR THE CONVEYANCE; AND FOR OTHER
PURPOSES.
WHEREAS, Ring Container Technologies Inc., a Tennessee corporation (the
"Purchaser "), desires to purchase certain real property located in the Little Rock Port
Industrial Park owned by the City of Little Rock, Arkansas (the "City "), and
WHEREAS, Purchaser has made an offer in the sum of approximately Five Hundred
Thirty Six Thousand and NO/] 00 Dollars ($536,000.00) pending legal, for the property,
and
WHEREAS, the Little Rock Board of Directors finds that the proposed sale to the
Purchaser will help to secure and develop industry in the Little Rock Port Industrial Park,
thereby providing substantial employment and payroll.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK:
Section 1. The sale of the property for the consideration stated above is approved and the
Mayor and City Clerk are authorized and directed to execute for and on behalf of the City
a Warranty Deed and the appropriate plat and bill of assurance, conveying the property to
the Purchaser or its designee, upon full payment of the purchase price in the sum of
approximately Five Hundred Thirty Six Thousand and NO /100 Dollars ($536,000.00)
pending legal, paid to the Little Rock Port Authority.
Section 2. The property is substantially described as follows, with such changes as shall
be approved by the City Attorney and the Mayor; the execution of the Warranty Deed
authorized by this resolution shall constitute evidence of such approval:
LEGAL DESCRIPTION
A tract of land situated in the NW '/4, NE 1/4, Section 22, Township 1 North, Range 11
West, Little Rock, Pulaski County, Arkansas, being more particularly described as
follows:
Commencing at a railroad spike found at the southwest corner of the NW 1/4, NE 1/4 of
said Section 22; thence S87 °50'37 "E along the south line of the Little Rock Port
Industrial Park 60.00 feet to the intersection of the said south line of the Little Rock Port
Industrial Park and the east right -of -way line of Frazier Pike; thence NO1 °29'38 "E along
said east right of way 690.05 feet to the NW Corner of Tract G Area 104 being the Point
of Beginning; thence continuing NO1 °29'38 "E along said east right of way 522 feet;
thence along a curve to the right having a radius of 50.00 feet and a chord bearing and
distance of N46 °48'48 "E, 71.06 feet for a distance of 79.03 feet to the south right of way
of Slackwater Harbor Drive; thence S87 °54' 14 "E along said south right of way 480.71
feet; thence continuing along said south right of way along a curve to the left having a
radius of 609.25 feet and a chord bearing and distance of N79° 16'E, 270 feet to the
Center Line of Fourche Island Drainage District No. 2 Levee; thence S29 °14'E along said
Center Line of Fourche Island Drainage District No. 2 Levee a distance of 728 feet;
thence N87 °50'37 "W, 1174.31 feet to the Point of Beginning; and containing 13.4 acres,
more or less; the actual acreage to be determined by a current boundary survey.
Section 3. Severability. In the event any section, subsection, subdivision, paragraph,
subparagraph, item, sentence, clause, phrase, or word of this resolution is declared or
adjudged to be invalid or unconstitutional, such declaration or adjudication shall not
affect the remaining portions of this resolution, which shall remain in full force and
effect as if the portion so declared or adjudged invalid or unconstitutional were not
originally a part of this resolution.
Section 4. Repealer. All laws, ordinances, resolutions, policies, or parts of any such
material, in conflict with the provisions of this resolution are hereby repealed to the
extent of such inconsistency.
Section 5. This Resolution shall be in full force and effect from the date of its adoption.
ADOPTED: August 16, 2005
ATTEST:
N W od, City Clerk
►o\W:Jcii1'ADI 11
' ,
Dailey, Jim
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Lorney