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l ® ORDINANCE NO. 17,80f 504
2
3 AN ORDINANCE AMENDING LITTLE ROCK
4 RESOLUTION NO. 8,842 (DECEMBER 30, 1992);
5 AUTHORIZING THE CITY TO EXERCISE AN OPTION
6 TO PURCHASE LOT 11, BLOCK 112, ORIGINAL CITY;
7 APPROPRIATING $185,000 PLUS CLOSING COSTS
8 NOT TO EXCEED $5,000; APPROPRIATING $20,000 TO
9 COMMENCE CONSTRUCTION AND DEVELOPMENT
10 WORK ON THE MOSAIC TEMPLARS BUILDING;
11 PROVIDING FOR REPEALER, SEVERABILITY;
12 DECLARING AN EMERGENCY; AND FOR OTHER
13 PURPOSES.
14
15 WHEREAS, on December 30, 1992 the Little Rock Board of Directors (the "Board ")
16 passed Little Rock, Ark. Resolution No. 8, 842 ( "LRR ") authorizing the City to purchase the
17 Mosaic Templars building and grounds at 9th and Broadway Streets under certain
18 circumstances; and
19 WHEREAS, one of the conditions of the purchase was that the City execute a lease
20 of the lot to the south of the building ( "Lot 11 ") under a 5 year term with a mandatory option
21 to purchase Lot 11 if development and construction work is commenced on the Mosaic
22 Templars building during the 5 year lease term; and
23 WHEREAS, the condition further stated that if the Society for the Preservation of the
24 Mosaic Templars Building (the "Society ") is unable to pay for the cost of renovation and
25 operation of the building before the expiration of the lease term, then the City would sell the
26 building back to Doyle Rogers and refuse to execute its option to purchase Lot 11; and
27 WHEREAS, the expiration date of the lease is October 31, 1998 and the Society was
28 unable to raise the necessary funds to commence construction and operation within the time
29 specified; and
30 WHEREAS, due to the commitment and effort of the City to save the historic structure
31 from demolition or inappropriate development, it is in the best interests of the City to begin
32 construction and development work in the place of the Society and to exercise the option to
33 purchase Lot 11.
34 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
35 OF THE CITY OF LITTLE ROCK, ARKANSAS:
36 SECTION 1. There is hereby appropriated the sum of $210,000 to effectuate the
505
1 purposes described herein in the manner provided in the following sections of this ordinance.
2 SECTION 2. The sum of $110,000 is transferred from account no.210- 030 -0282 and
3 the sum of $80,000 is transferred from account no. 210 - 230 -0348 into the Mosaic Templars
'4 account, representing the purchase price of $185,000 for Lot 11, Block 112, Original City of
5 Little Rock, and reasonable closing costs not to exceed $5,000.
6 SECTION 3. The sum of $20,000 is transferred from account no. 210 - 030 -0348 to
7 the Mosaic Templars account to permit the City to begin construction and development work
8 on the Mosaic Templars Building.
9 SECTION 4. The Mayor, City Clerk and City Manager are authorized to execute the
10 necessary documents in a form acceptable to the City Attorney to effectuate the closing of the
11 purchase of Lot 11, Block 112, Original City of Little Rock.
12 SECTION 5. REPEALER. All laws, parts of laws and resolutions in conflict with
13 this Ordinance are hereby repealed to the extent of the inconsistency.
14 SECTION 6. SEVERABILITY. The various parts, sections and clauses of this
15 ordinance are hereby declared to be severable. If any part, sentence, paragraph, section or
16 clause in adjudged unconstitutional or invalid by a court of competent jurisdiction, the
17 remainder of this ordinance shall not be affected thereby.
18 SECTION 7. EMERGENCY. The City has made a substantial commitment to
19 preserve the historic Mosaic Templars building from demolition or inappropriate
20 redevelopment. Unless the Board acts immediately to appropriate the funds necessary to begin
21 construction and development work on the building and to purchase Lot 11 as required in the
22 City's contract with Doyle Rogers, the City may forever lose the opportunity to save the
23 structure. Therefore, an emergency is hereby declared to exist and this ordinance shall be in
24 full force and effect from and after its passage.
25
26 PASSED: October 13, 1998
27
ATTEST:
28
29 C_ m& 0.,; _P A 6&
30 ROBBIE HANCOCK
CITY CLERK
31
32 APPROVED AS TO FORM:
33 o41W -vll . AA
34 THOMAS M. CARPENTVR
35 CITY ATTORNEY
36
APPROVED:
JIM D ILEY
MAYOR