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RESOLUTION NO. 8,425
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE A QUITCLAIM DEED CONVEYING
CERTAIN PROPERTY WITHIN THE CITY OF LITTLE
ROCK AND FOR OTHER PURPOSES.
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WHEREAS, the City of Little Rock, Arkansas has obtained
title in fee simple absolute to an undivided 35.32% of certain
real property located in Southwest Little Rock; and
WHEREAS, Iron City Land Company, the co- owners, who own the
remaining 64.68% of the property, have negotiated an arrangement
with an individual interested in obtaining their interest in
property; and
WHEREAS this same individual has presented an offer to the
City to purchase its 35.32% interest for the total sum of
$7,500.00; and
WHEREAS, it has been determined that the property is of
little value to the City and is not needed or useful for any City
projects; and
WHEREAS, the individual has acknowledged his intentions and
commitment to promptly rehabilitate the property and bring it into
full City Code compliance.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS.
SECTION 1. The attached "Offer and Acceptance" is hereby
approved.
SECTION 2. The Mayor and City Clerk are hereby authorized
to execute a quitclaim deed conveying title to the following lands
for the sum of $7500.00 on the terms set forth in the offer:
Lot 11, Section A, Vernon Place Addition
to the City of Little Rock, Pulaski County,
Arkansas.
SECTION 3. This resolution shall be in full force and
effect from and after its passage.
ADOPTED: January 15, 1991
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ATTEST:
A &
City Clerk Robbie Hancock
APPROVED AS I TO FORM: /
Tom Carpenter
Acting City Attorney
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APPROVED:
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yor Sharon Priest
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