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RESOLUTION NO. 4,122
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO ENTER INTO AN OPTION AND AGREEMENT
TO BE NEGOTIATED BETWEEN THE LITTLE ROCK
PORT AUTHORITY AND MURPHY OIL CORPORATION;
AND FOR OTHER PURPOSES.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS .
SECTION 1. The Mayor and City Clerk are hereby
authorized and directed to execute an Option and Agreement
with Murphy Oil Corporation giving said corporation the
sole and exclusive right and option to purchase the follow-
ing described lot or parcel of land situated in the County
of Pulaski , State of Arkansas , to-wit :
Tract 201-1 as shown on the attached site plan
which tract shall be fully described by a lic-
ensed surveyor prior to date of closing, to-
gether with an easement for two pipelines along
Lindsey Road and across Port Authority property
to the Port Authority' s Wharf. Grantor reserves
a twenty (20) foot easement for an underground
pipeline over and across the described Tract
201-1 adjacent to the right-of-way of Lindsey
Road.
said property having a frontage of 610 feet, more or less, on
Lindsey Road and a varying depth of 450 to 710 feet in the City
of Little Rock, Arkansas, together with all improvements and
equipment thereon, and all right, title and interest of Seller,
if any, in and to all roads, streets, alleys and ways adjoining
said property.
SECTION 2. The Little Rock Port Authority is negot-
iating with Murphy Oil Corporation for this option which in-
cludes various restrictive covenants to be incorporated into
said option. At such time as the Little Rock Port Authority
reaches a satisfactory end to its negotiations, the option
shall be signed by the Mayor and City Clerk.
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SECTION 3. This Resolution shall be in full force
and effect from and after its adoption.
ADOPTED: December 16, 1968
ATTEST: APPROVED:
City Clerk Mayor