HomeMy WebLinkAbout12769ORDINANCE NO. 12,761
AN ORDINANCE ACCEPTING AN ASSIGNMENT OF AN
OPTION TO PURCHASE CERTAIN REAL PROPERTY
IN BLOCK 262, ORIGINAL CITY OF LITTLE ROCK,
PULASKI COUNTY, ARKANSAS; AUTHORIZING THE
EXERCISING OF SAID OPTION; APPROPRIATING THE
SUM OF $180,000.00 FROM REVENUE SHARING
FUNDS; AND FOR OTHER PURPOSES
BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS.
SECTION 1. The City Manager, acting for and on behalf of
the City of Little Rock, is hereby authorized to accept an
assignment of that certain option dated March 27, 1973 given
by Myrtle H. Darragh in favor of Bruce T. Bullion to purchase
Lots 4, 5, 6, 7, 7 and 9, Block 262, Original City of Little
Rock, Pulaski County, Arkansas for a purchase price of One
hundred and eighty thousand ($180,00.00) dollars. Further,
the said City Manager is hereby authorized and directed to
exercise the said option to purchase and execute such instru-
ments as may be required to effectuate the exercise of said
option.
SECTION 2. There is hereby appropriated from funds
available from Federal Revenues Sharing the sum of $180,00.00
for the purpose of being used in paying to the person or per-
sons entitled thereto, the purchase price herein provided at
such time and in keeping with the title opinion by the City
Attorney based on an Abstract all pertaining to the subject
property.
SECTION 3. This Ordinance shall be in full force and
effect from and after its passage.
PASSED: April 17, 1173
ATTEST:
City Clerk
APPROVED: of
Mayor