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RESOLUTION NO. 4,726
A RESOLUTION AUTHORIZING THE SALE OF CERTAIN
REAL PROPERTIES ACQUIRED BY THE CITY OF LITTLE
ROCK FOR THE MODEL CITIES AGENCY OF THE CITY OF
LITTLE ROCK TO BE USED IN THE DEVELOPMENT OF
RESIDENT HOUSES ; AND FOR OTHER PURPOSES.
WHEREAS, Model Cities has heretofore acquired Lots No. 1, 2, 3,
4, 7, 8, 9 and 10, Block 6, Fairgrounds Addition to the City of Little
Rock, all situated within the Model Cities area to be used for the
purpose of providing building sites for residental housing meeting all
of the requirements of the Federal Housing Administration 235 Housing
Program; and
WHEREAS, notice has been published inviting bids for the purchase
of said described property on terms, conditions and specifications all
as on file in the office of the Model Cities Agency and bids have been
received pursuant thereon; and
WHEREAS, the highest and best bid for the purchase of the said
property has been determined and it is the desire of the Board of
Directors to authorize the sale thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CITY OF LITTLE ROCK, ARKANSAS.
SECTION 1. The Mayor is hereby authorized and directed acting
for and on behalf of the City of Little Rock to execute a Deed of
Conveyance to Joe Anderson, Jr. , for Lots 1, 2, 3, 4, 7, 8, 9 and
10, Block 6, Fairgrounds Addition to the City of Little Rock, con-
veying all the right, title and interest of the City of Little Rock
in and to said property for a cash consideration of Four thousand
($4, 000.00) dollars and conditioned that said Joe Anderson, Jr
will erect residential housing on each of said lots fulfilling
in all particulars the plans and specifications for such on file
in the office of Model Cities Agency and as provided on the plan
for each such improvement submitted with his bid also on file in
the office of the Model Cities Agency.
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SECTION 2 . In particular the residential improvements for these
properties shall provide for eight (8) single family residences, two
of which shall contain four (4) bedrooms and six (6) of which shall
contain three (3) bedrooms . The said successful bidder shall con-
struct the said improvements providing his own financing and offer
same for sale according to the following identified plan for the
Lot Number indicated and at a total cost not to exceed the figure set
opposite each such Lot and Plan:
Lot #2, plan #8, total cost: $15, 950.00
Lot #10, plan #7, total cost: $15, 550.00
Lot #7, plan #6, total cost : $15, 100.00
Lot #1, plan #5, total cost: $14, 500.00
Lot #4, plan #4, total cost: $14, 500.00
Lot #3, plan #3, total cost: $16, 900.00
Lot #8, plan #2, total cost: $17, 500.00
Lot #9, plan #1, total cost: $15, 100.00
SECTION 3. It is understood and agreed that in addition to
compliance with all other specifications relating hereto the con-
tractor shall commence construction of the residential improvements
herein provided for on or before
and complete all such improvements on or before the
Further, said Joe Anderson, Jr.
shall furnish a Performance Bond by a Surety Company authorized
to do business in Arkansas guaranteeing performance of all the terms
and conditions herein provided and which have, by this Resolution,
been made a part of the agreement to sell the described real property.
SECTION 4. This Resolution shall be in full force and effect
from and after its adoption.
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ADOPTED: January 18, 1972
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ATTEST: APPROVED: � " ' e A(4,042(
ity Cler Mayor de .41,4/1