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RESOLUTION NO. 7,119 243
A RESOLUTION APPROVING THE ISSUANCE BY METROCENTRE
IMPROVEMENT DISTRICT NO. 1 OF THE CITY OF LITTLE ROCK,
ARKANSAS, OF ITS $5,600,000 OFFICE DEVELOPMENT REVENUE BONDS
(CONTINENTAL TRAILWAYS BUILDING PROJECT)
SERIES 1983
WHEREAS, the Board of Commissioners of Metrocentre Improve-
ment District No. 1 of the City of Little Rock, Arkansas (the
"District ") has approved the issuance of the District's
$5,600,000 Office Development Revenue Bonds (Continental Trail-
ways Building Project) Series 1983 (the "Bonds "), following a
public hearing on the question of the issuance of the Bonds
held on November 23, 1983; and
WHEREAS, pursuant to the provisions of the Tax Equity and
Fiscal Responsibility Act of 1983, it is necessary for federal
income taxation purposes that the issuance of the Bonds be
approved by the Board of Directors of the City of Little Rock,
Arkansas; and
WHEREAS, the Board of Directors of the City of Little
Rock, Arkansas, has determined that the public purposes for
which the Bonds are to be issued serve a proper need;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
1. That the issuance by the District of the Bonds be and
the same is hereby approved.
2. That this Resolution is adopted solely for the
purposes of complying with the provisions of the Tax Equity and
Fiscal Responsibility Act of 1983, and by the adoption of this
Resolution the City of Little Rock has not assumed any direct
or indirect financial responsibility for the payment of the
Bonds.
3. That this Resolution
after its passage and approval.
Adopted: December 20, 1983.
ATTEST:
Jan Czech, 7-itir Clerk
(S E A L)
shall be in effect from and
APPROVED:
J. W. Benafi d, May
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KNOW ALL MEN BY THESE; PRESENTS:
THAT THE CITY OF LITTLE ROCK, ARKANSAS, A MUNICIPAL
CORPORATION ORGANIZED AND F;XIS'P.ING UNDER AND BY VIR'CUE OF
THE LAWS OF THE STATE OF ARKANSAS, GRANTOR, PURSUANT TO
RESOLUTION NO. 7,120 ADOPTED DECEMBER 20, 1983, BY THE
LITTLE ROCK BOARD OF DIRECTORS, FOR AND IN CONSIDERATION OF
THE SUM OF TEN DOLLARS ($10.00), AND OTHER GOOD AND VALUABLE
CONSIDERATION, THE RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED,
DOES HEREBY GRANT, BARGAIN, SELL AND CONVEY UNTO MCGEORGE
EQUIPMENT RENTAL CO., GRANTEE, AND UNTO ITS HEIRS,
SUCCESSORS AND ASSIGNS FOREVER, THE FOLLOWING DESCRIBED
LANDS SITUATED IN THE COUNTY OF PULASKI, STATE OF ARKANSAS,
TO -WIT:
BEGINNING AT A POINT 1,335.18 FEET WEST OF THE
SOUTHEAST CORNER OF SECTION 23, TOWNSHIP 1 NORTH, RANGE
12 WEST; THENCE NORTH 800 FEET ALONG A LINE PARALLEL TO
THE NORTH -SOUTH SECTION LINE OF SECTION 23; THENCE
EASTERLY 1,195.18 FEET ALONG A LINE PARALLEL TO THE
SOUTH SECTION LINE; OF SECTION 23; THENCE. SOUTH 800 FEET
ALONG AND 140 FEET WEST OF AND PARALLEL TO THE FAST
SECTION LINE OF SAID SECTION 23 TO A POINT ON THE SOUTH
SECTION LINE OF SAID SECTION 23, 140 FEET WEST OF THE
SOUTHEAST CORNER OF SAID SECTION 23; THENCE WEST ALONG
THE SOUTH SECTION LINE OF SAID SECTION 23, 1,195.18
FEET TO THE POINT OF BEGINNING. CONTAINING 21.95 ACRES
MORE OR LESS.
THIS CONVEYANCE IS SUBJECT TO ALL RESTRICTIONS,
EASEMENTS AND COVENANTS OF RECORD IN THE PULASKI COUNTY
RECORDS.
TO HAVE AND TO HOLD THE SAME UNTO THE SAID GRANTEE AND UNTO
ITS HEIRS, SUCCESSORS AND ASSIGNS FOREVER, WITH ALL THE
APPURTENANCES THEREUNTO BELONGING. AND THE GRANTEE, THE
CITY OF LITTLE ROCK, HEREBY COVENANTS WITH SAID GRANTOR THAT
IT WILL FOREVER WARRANT AND DEFEND THE TITLE TO THE SAID
LANDS AGAINST ALL CLAIMS WHATEVER.
IN WITNESS WHEREOF, THE NAME OF THE GRANTOR IS HEREUNTO
AFFIXED BY ITS MAYOR AND ITS SEAL AFFIXED BY ITS CITY CLERK.
THIS DAY OF
CITY OF LITTLE ROCK
BY:
J.W. IIENAFIF.LD, MAYOR
ATTEST:
7ARF.' -C7, t<CH ; - CfTY- CI;ERK �_._
245