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2 RESOLUTION NO. 8,905
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4 A RESOLUTION APPROVING THE LEASE OF
5 A PORTION OF CITY PROPERTY TO
GLACIAL CONCRETE COMPANY; AND FOR
6 OTHER PURPOSES.
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8 WHEREAS, Glacial Concrete Company, a Missouri corporation,
9 authorized and doing business in the State of Arkansas and City
10 of Little Rock, has offered to lease a portion of City land
acquired in the Fourche Creek Flood Reduction Project; and
11 WHEREAS, City staff has determined that the proposed lease
12 premises is not needed for present or future needs or
13 requirements of the City pursuant to the Fourche Creek Project;
14 and
15 WHEREAS, provided certain conditions are preserved and
maintained in the lease, the Little Rock Board of Directors
16 approves the lease of a portion of land to be determined by a
17 survey provided by Glacial Concrete Company, at a price to be
18 determined by the amount of leased land disclosed by the survey.
19 NOW, THEREFORE, BE.IT RESOLVED BY THE BOARD OF DIRECTORS OF
20 THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Little Rock Board of Directors approves the
21 lease of a portion of City land adjacent to Glacial Concrete
22 Company business operations on West 12th Street, subject to and
23 including the following provisions:
24 1. Glacial shall petition to close that
portion of Vogler Street running north
25 and south on the east boundary of Glacial
26 property.
27 2. The City shall retain a permanent
28 easement over the abandoned street
29 right -of -way to access the creek behind
Glacial property.
30 3. Glacial shall provide the City
31 unrestricted access to Rock creek and the
32 drainage ditches abutting Glacial's
33 property, subject to reasonable notice
34 and without unreasonable interference
35 with Glacial's business operation.
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APPROVED AS TO FORM:
4. The term of the lease shall be
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twenty -five (25) years with two (2)
twenty -five (25) year renewal periods.
5.. The lease value shall be determined by a
survey of the leased premises to be
provided at Glacial's expense.
6. Glacial will maintain the leased premises
in good condition, and it may pave and
gutter the premises for parking of
employee vehicles. Glacial may also
construct inground concrete storage bins
for sand and gravel on the leased
premises. The leased area, as well as the
balance of Glacial property adjacent to
the creek, will be designed to drain
surface runoff away from the creek to be
contained on Glacial property.
7. Glacial shall remain in compliance with
all local, state and federal laws,
particularly environmental regulations
throughout the term of the lease. Glacial
shall indemnify and hold the City
harmless.from liability or damages caused
by Glacial's business operations.
SECTION 2. The City Manager and the City Attorney
are
hereby authorized to prepare and execute a lease including
the
conditions stated herein.
ADOPTED: May 4, 1993
ATTEST: APPROVED:
/I2 0 I �' .��i �'�W�V'�^
SSE MASON, JR.
CITY CLERK
V CE MAYOR
APPROVED AS TO FORM: