HomeMy WebLinkAbout104921 RESOLUTION NO. 10,492
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3 A RESOLUTION TO APPROVE TERMS AND CONDITIONS
4 FOR THE SALE OF THE WALLACE BUILDING TO BLOCK $ 5
5 2 DEVELOPMENT, LLC; TO AUTHORIZE THE MAYOR AND
6 CITY CLERK TO EXECUTE ANY DOCUMENTS
7 NECESSARY TO COMPLETE SAID REAL ESTATE
8 TRANSACTION, FOR THE BENEFIT OF THE
s ADVERTISING & PROMOTION COMMISSION; AND FOR
10 OTHER PURPOSES.
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12 WHEREAS, the Little Rock Advertising and Promotion Commission purchased certain
13 real estate generally referred to as the Wallace Building, and
14 WHEREAS, on March 5, 1999, the Commission adopted a resolution to approve the
16 terms and conditions of a sale of the Wallace Building to Block 2 Development, LLC, including
16 an option to purchase and other matters, and
17 WHEREAS, because the title to the property is in the name of the City of Little Rock,
18 Arkansas, for the use and benefit of the Commission, but cannot be conveyed without the
16 approval of the Mayor and the City Clerk,
20 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
21 THE CITY OF LITTLE ROCK, ARKANSAS:
22 Section 1. The Mayor and City Clerk are authorized to execute all documents
23 necessary to consummate a sale of the Wallace Building which comprises all or a part of Lots
24 1, 2 and 3 of Block 2 of the ORIGINAL CITY OF LITTLE ROCK, to Block 2 Development, LLC,
25 that accord with the documents approved and recommended by the Little Rock Advertising &
26 Promotion Commission at its March 5, 1999, special meeting.
27 Section 2. Repealer. All ordinances, resolutions, or regulations, or any parts of
28 such documents, which are inconsistent with the provisions of this ordinance are hereby
29 repealed to the extent of such inconsistency.
3o ADOPTED: March 9, 1999
31 ATTEST: APPROVED:
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33 L/S 1Q�6 Pi L°_- f`!�/�� vv 1 -
34 Robbie Hancock, City Clerk in Dailey, Mayor
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I APPROVED AS TO LEGAL FORM:
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4 Thomas M. Carpenter, City A orney
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