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HomeMy WebLinkAbout12560I RESOLUTION NO. 12,560 2 A RESOLUTION TO AUTHORIZE THE SALE OF CERTAIN REAL PROPERTY 3 LOCATED IN THE LITTLE ROCK PORT INDUSTRIAL PARK; AUTHORIZING THE 4 MAYOR AND CITY CLERK TO EXECUTE A WARRANTY DEED FOR THE 5 CONVEYANCE; AND FOR OTHER PURPOSES. 6 WHEREAS, LM Glasfiber, Inc. (the "Purchaser "), desires to purchase certain real property located 7 in the Little Rock Port Industrial Park owned by the City of Little Rock, Arkansas (the "City "), and 8 WHEREAS, Purchaser has made an offer which has been accepted by the Board of Directors of the 9 Little Rock Port Authority, and 10 WHEREAS, LM Glasfiber, Inc. is contractually bound to build a manufacturing facility for the 11 production of blades for wind turbine power generators, and 12 WHEREAS, the Little Rock Board of Directors finds that the proposed sale to the Purchaser will help 13 to secure and develop industry in the Little Rock Port Industrial Park, thereby providing substantial 14 employment and payroll. 15 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE 16 ROCK: 17 Section 1. The sale of the property for the consideration stated above is approved and the Mayor 18 and City Clerk are authorized and directed to execute for and on behalf of the City a Warranty Deed 19 and the appropriate plat and bill of assurance, conveying the property to the Purchaser or its designee. 20 Section 2. The property is substantially described as follows, with such changes as shall be 21 approved by the City Attorney and the Mayor; the execution of the Warranty Deed authorized by this 22 resolution shall constitute evidence of such approval: 23 24 25 26 27 28 29 LEGAL DESCRIPTION Tract J, Area 104, Little Rock Port Industrial Park A tract of land in the south 1/2 of Section 15, and in the SW 1/4 of the NW 1/4 of Section 15, and in the SE 1/4 of Section 16, T -1 -N, R -11 -W, Pulaski County, Arkansas, being more particularly described as follows: [Page 1 of 3] I Commencing at the southeast corner of the SW 1/4 of said Section 15, thence run 2 N01 °14'57 "E, 59.88 feet to the north right of way line of Frazier Pike and the Point of 3 Beginning; thence N87 °51'13 "W, along the north right of way line, 2002.52 feet; thence 4 leaving said right of way line, NO2 006'26 "E, 1166.06 feet; thence N88 029'31 "W, 944.09 5 feet to the east right of way line of the Little Rock Port Railroad; thence N01 °38'39 "E, 6 along said east right of way line 1,161.26 feet to the south right of way line of Lindsey 7 Road; thence N78 °43'41 "E, along said south right of way line 782.24 feet; thence 8 continuing along south right of way line, along a curve to the left, having a radius of 9 1969.86 feet, a curve length of 430.72 feet, and a chord bearing and distance of 10 N72 °27'51 "E, 429.86 feet; thence continuing along south right of way line N66 °12'01 "E, 11 94.66 feet; thence leaving said south right of way line, along a non - tangent curve to 12 the left, having a radius of 50.02 feet, a curve length of 90.19 feet, and a chord 13 bearing and distance of S14 °32'51 "W, 78.46 feet; thence S37 006'09 "E, 960.28 feet; 14 thence N52 054'18 "E, 499.98 feet; thence S36 °59'30 "E, 1374.38 feet; thence S29 017'33 "E, 15 1254.83 feet to the north Right of way line of Frazier Pike; thence along said north 16 right of way line along a curve to the right having a radius of 489.25 feet; a curve 17 length of 207.16 feet, and a chord bearing and distance of S79 °57'57 "W, 205.62 feet; 18 thence continuing along said north right of way line N87 054'14 "W, 581.84 feet; thence 19 continuing along said north right of way line N87 051'13 "W, 10.37 feet to the Point of 20 Beginning, containing 135.05 acres, more or less. 21 Section 3. Severability. In the event any section, subsection, subdivision, paragraph, 22 subparagraph, item, sentence, clause, phrase, or word of this resolution is declared or adjudged to be 23 invalid or unconstitutional, such declaration or adjudication shall not affect the remaining portions of 24 this resolution, which shall remain in full force and effect as if the portion so declared or adjudged 25 invalid or unconstitutional were not originally a part of this resolution. 26 Section 4. Repealer. All laws, ordinances, resolutions, policies, or parts of any such material, in 27 conflict with the provisions of this resolution are hereby repealed to the extent of such inconsistency. 28 Section 5. This Resolution shall be in full force and effect from the date of its adoption. 29 ADOPTED: August 6, 2007 30 31 ATTEST: 32 33 34 Nancy;VVood, Cii Clerk [Page 2 of 3] APPROVED: Mark Stodola, Mayor 1 2 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 APPROVED AS TO LEGAL FORM: Thomas M. Carpenter, City Att r ey //A Ill //A [Page 3 of 3] Prepared by: Thomas M. Carpenter OFFICE OF THE CITY ATTORNEY 500 West Markham, Ste. 310 Little Rock, Arkansas 72201 (501) 371 -6875 Arkansas Identification No. 77024 SPECIAL WARRANTY DEED SUBJECT TO A RIGHT OF REVERTER The City of Little Rock, Arkansas, Grantor, an Arkansas municipal corporation of the first class. for $10.00 and other good and valuable consideration in hand paid by L.M. Glassfiber, Inc., a corporation licensed to do business in the State of Arkansas, hereafter called Grantee, the receipt of which is hereby acknowledged, do hereby grant, bargain, sell and convey unto Grantee, and unto its successors and assigns forever, subject to the condition listed below, the following lands in Pulaski County, Arkansas: Tract J, Area 104, Little Rock Port Industrial Park A tract of land in the south 1/2 of Section 15, and in the SW 1/4 of the NW 1/4 of Section 15, and in the SE 1/4 of Section 16, T -1 -N, R -11 -W, Pulaski County, Arkansas, being more particularly described as follows: Commencing at the southeast corner of the SW 1/4 of said Section 15, thence run NO1 °14'57 "E, 59.88 feet to the north right of way line of Frazier Pike and the Point of Beginning; thence N87 °51' 13 "W, along the north right of way line, 2002.52 feet; thence leaving said right of way line, NO2 °06'26 "E, 1166.06 feet; thence N88 °29'31 "W, 944.09 feet to the east right of way line of the Little Rock Port Railroad; thence NO 1 °3 8'3 9 "E, along said east right of way line 1,161.26 feet to the south right of way line of Lindsey Road; thence N78 °43'41 "E, along said south right of way line 782.24 feet; thence continuing along south right of way line, along a curve to the left, having a radius of 1969.86 feet, a curve length of 430.72 feet, and a chord bearing and distance of N72 °27'51 "E, 429.86 feet; thence continuing along south right of way line N66° 12'01 "E, 94.66 feet; thence leaving said south right of way line, along a non - tangent curve to the left, having a radius 1 of 50.02 feet, a curve length of 90.19 feet, and a chord bearing and distance of S 14 °32'51 "W, 78.46 feet; thence S37 °06'09 "E, 960.28 feet; thence N52 054'18 "E, 499.98 feet; thence S36 °59'30 "E, 1374.38 feet; thence S29 017'33 "E, 1254.83 feet to the north Right of way line of Frazier Pike; thence along said north right of way line along a curve to the right having a radius of 489.25 feet; a curve length of 207.16 feet, and a chord bearing and distance of S79 °57'57 "W, 205.62 feet; thence continuing along said north right of way line N87 °54'14 "W, 581.84 feet; thence continuing along said north right of way line N87 051' 13 "W, 10.37 feet to the Point of Beginning, containing 135.05 acres, more or less. TO HAVE AND TO HOLD the same unto Grantee and unto its successors and assigns forever, with all appurtenances thereunto belonging, provided that Grantee, its successors and assigns forever, obtains all permits for construction of the industrial premises for which this deed is granted, within five (5) calendar years of the date of execution of this deed, and provided further, that Grantee, its successors and assigns forever, complete at least five million dollars ($5,000,000.00) of the total cost of construction within five (5) calendar years of the date of executed of this deed. If the two conditions set forth in this paragraph are not met on the date identified, then this property shall revert in fee simple absolute, without any liens or encumbrances, to the Grantor. And I hereby covenant with Grantee that I will forever warrant and defend the title to said lands against all claims or encumbrances. EXECUTED August , 2007. Bruce T. Moore, City Manager ACKNOWLEDGMENT STATE OF ARKANSAS) ) ss COUNTY OF PULASKI ) On this day of August, 2007, before me, , a Notary Public, duly commissioned, qualified and acting, within and for said County and State, appeared in person the within named Bruce T. Moore, City Manager for the City of Little Rock, Arkansas, to me personally well known, who stated and acknowledged that he had signed, executed and delivered the foregoing instrument for the consideration, uses and purposes therein mentioned and set forth and, in accordance with the provisions of Little Rock, Ark., Resolution No. (August 6, 2007). IN WITNESS WHEREOF, I hereunto set my hand and official seal. 2 (Seal of the City of Little Rock, Arkanas) Nancy Wood City Clerk My Commission Expires: Prepared by: Thomas M. Carpenter OFFICE OF THE CITY ATTORNEY 500 West Markham, Ste, 310 Little Rock, Arkansas 72201 (501) 371 -6875 Arkansas Identification No. 77024 SPECIAL WARRANTY DEED SUBJECT TO A RIGHT OF REVERTER The City of Little Rock, Arkansas, Grantor, an Arkansas municipal corporation of the first class. for $10.00 and other good and valuable consideration in hand paid by L.M. Glassfiber, Inc., a corporation licensed to do business in the State of Arkansas, hereafter called Grantee, the receipt of which is hereby acknowledged, do hereby grant, bargain, sell and convey unto Grantee, and unto its successors and assigns forever, subject to the condition listed below, the following lands in Pulaski County, Arkansas: Tract J, Area 104, Little Rock Port Industrial Park A tract of land in the south 1/2 of Section 15, and in the SW 1/4 of the NW 1/4 of Section 15, and in the SE 1/4 of Section 16, T -1 -N, R -11 -W, Pulaski County, Arkansas, being more particularly described as follows: Commencing at the southeast corner of the SW 1/4 of said Section 15, thence run N01 114'57 "E, 59.88 feet to the north right of way line of Frazier Pike and the Point of Beginning; thence N87 °51' 13 "W, along the north right of way line, 2002.52 feet; thence leaving said right of way line, NO2 106'26 "E, 1166.06 feet; thence N88 129'31 "W, 944.09 feet to the east right of way line of the Little Rock Port Railroad; thence N01 °38'39 "E, along said east right of way line 1,161.26 feet to the south right of way line of Lindsey Road; thence N78 043'41 "E, along said south right of way line 782.24 feet; thence continuing along south right of way line, along a curve to the left, having a radius of 1969.86 feet, a curve length of 430.72 feet, and a chord bearing and distance of N72 °27' 51 "E, 429.86 feet; thence continuing along south right of way line N66 °12'01 "E, 94.66 feet; thence leaving said south right of way line, along a non - tangent curve to the left, having a radius of 50.02 feet, a curve length of 90.19 feet, and a chord bearing and distance of S 14 °32' 51 "W, 78.46 feet; thence S37 °06' 09 "E, 960.28 feet; thence N52 °54' 18 "E, 499.98 feet; thence S36 059'30 "E, 1374.38 feet; thence S29 017'33 "E, 1254.83 feet to the north 1 Right of way line of Frazier Pike; thence along said north right of way line along a curve to the right having a radius of 489.25 feet; a curve length of 207.16 feet, and a chord bearing and distance of S79 157'57 "W, 205.62 feet; thence continuing along said north right of way line N87 °54' 14 "W, 581.84 feet; thence continuing along said north right of way line N87 151'13 "W, 10.37 feet to the Point of Beginning, containing 135.05 acres, more or less. TO HAVE AND TO HOLD the same unto Grantee and unto its successors and assigns forever, with all appurtenances thereunto belonging, provided that Grantee, its successors and assigns forever, obtains all permits for construction of the industrial premises for which this deed is granted, within five (5) calendar years of the date of execution of this deed, and provided further, that Grantee, its successors and assigns forever, complete at least five million dollars ($5,000,000.00) of the total cost of construction within five (5) calendar years of the date of executed of this deed. If the two conditions set forth in this paragraph are not met on the date identified, then this property shall revert in fee simple absolute, without any liens or encumbrances, to the Grantor. And I hereby covenant with Grantee that I will forever warrant and defend the title to said lands against all claims or encumbrances. EXECUTED August '7 , 2007. Bruce T. Moore, City Manager ACKNOWLEDGMENT STATE OF ARKANSAS) ) ss COUNTY OF PULASKI ) On this _day of August, 2007, before me. n Nntsirw A -1- commissioned, qualified and acting, within and for said Count and State appeared in , person the within named Bruce T. Moore, City Manager for the City of Little Rock Arkansas, t o me personally well - known, who stated and acknowledged that he had signed, executed and delivered the foregoing instrument for the consideration, uses and purposes therein mentioned and set forth and, in accordance with the provisions of Little Rock, Ark., Resolution No. (August 6, 2007). IN WITNESS WHEREOF, I hereunto set my hand and official seal. (Seal of the City of Little Rock, Arkanas) My Commission Expires: Nanc Wood City Clerk I� OFFI(-IAL SEAL SAI c� n i - I E COUNTY My Corr,mi:Sior, Expires 2-1,,-20,t, "