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RESOLUTION NO. 9,538
A RESOLUTION AUTHORIZING THE SALE OF
CERTAIN PROPERTY LOCATED IN THE
LITTLE ROCK PORT INDUSTRIAL PARK;
AND FOR OTHER PURPOSES.
WHEREAS, American Fiber Industries, LLC, an Arkansas limited
liability corporation (the "Purchaser "), desires to purchase
certain property located in the Little Rock Port Industrial Park
owned by the City of Little Rock, Arkansas (the "City");
and
WHEREAS, the City has been offered the sum of One Hundred
Eighty Thousand Dollars ($180,000) for the property described
above and is prepared to sell the property for such price.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Board hereby finds that the proposed sale will
secure and develop industry in the Little Rock Port Industrial
Park, thereby providing substantial employment and payrolls.
SECTION 2. The sale of the property as substantially
described herein as:
TRACT G, AREA 104, LITTLE ROCK PORT INDUSTRIAL PARK OF
THE CITY OF LITTLE ROCK, ARKANSAS;
for the sum of.One Hundred Eighty Thousand Dollars ($180,000) is
hereby approved, and the Mayor is hereby authorized and directed
to execute for and on behalf of the City a Warranty Deed and the
appropriate Plat and Bill of Assurance, conveying said property to
the Purchaser or its designee, and the City Clerk is hereby
authorized and directed to attest said instruments and to deliver
the same to the Office of the City Attorney for delivery of same
to the Purchaser or its designee upon full payment of
consideration in the sum of One Hundred Eighty Thousand Dollars
($180,000), payable to the Little Rock Port Authority, which
payment may be in the form of a promissory note for all or a
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portion of the consideration as the Little Rock Port Authority
shall determine.
SECTION 3. This Resolution shall be in full force and effect
from the date of its adoption.
ADOPTED: November 7, 1995
1
CLERK CITY
APPROVED AS TO FORM:
i l r
ATTORNEY CITY
VA
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