HomeMy WebLinkAbout5300 RESOLUTION NO. 5,300
A RESOLUTION AUTHORIZING THE EXTENSION OF AN OPTION TO
GENERAL ELECTRIC COMPANY FOR THE PURCHASE OF LAND IN
THE LITTLE ROCK PORT INDUSTRIAL DISTRICT; AND FOR OTHER
PURPOSES.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK,
ARKANSAS:
SECTION 1. Based on the recommendation of the Little Rock Port
Authority, the Mayor and City Clerk, acting for and on behalf of the City
of Little Rock are hereby authorized to execute an extension to the option
agreement to January 15, 1975, with General Electric Company for the purchase
by General Electric of land located in the Little Rock Port Area in Pulaski
County, Arkansas, which option agreement shall be in form and substance as
reflected by Exhibit "A" attached hereto and made a part hereof the same
as though set out herein word for word.
SECTION 2. This Resolution shall be in full force and effect from
and after its adoption.
ADOPTED: December 9, 1974
ATTEST: 90Y140 APPROVED: Gv/ A
City Clerk Mayor
OPTION AGREEMENT
WHEREAS , the City of Little Rock, Arkansas and The Little
Rock Port Authority have heretofore granted to GENERAL ELECTRIC
COMPANY an option exercisable on or before midnight December 27,
1974, which said option is subject to four (4) successive annual
extensions , to purchase the following described Lands in the
County of Pulaski and State of Arkansas , to-wit :
. A parcel of land located in the East Half of the Southwest Quarter
and the West Half of• the Southeast Quarter of Section 16, Township
1 North, Range_ 11 West, Pulaski County, Arkansas , also being a part
of Area 101 in t1v Little Rock Port industrial Park, an Addition to
the City of 1.itL 1 e Rock, Arkansas, and being more particularly des-
cribed as follows:
Comm^ncincJ at the Southwest corner of the Southeast Quarter of the
Southeast Quarter of Section 16, Township 1 Forth, Range 11 West,
• Pulaski County , Arkansas, thence North 88 degrees 47 minutes 31
seconds -West, 90. 50 feet along the center line of Frazier. Pike to
a point, thence North 1 degree 30 minutes 52 seconds East, 109. 73
feet to a point on the West Right-of--Way line of Fourche Dam Pike,
-thence continue North 1 degree 30 minutes 52 seconds East, 238.45
feet along said west Right-of-Way line to the Northeast corner of
Tract D , area 1 01 , said corner being the point of beginning, thence
forth 88 degree: 47 minutes 31 seconds West:, 891 .80 feet along the
North line of said Tract D to the Northwest corner of said .Tract,
thence South 8 degrees 13 minutes 48 seconds West, 290. 36 feet along
the West line of said Tract, said line also being the East line of
Natural Gas pipe Line Company Easement, to- the Southwest corner of
said Tract, said T)oint also being on the North Right-of-Way line
of said Frazier Pike , thence along said North Right-of-Way line of
Frazier Pike across said Gas Line Easement North 88 degrees 47
minutes 31 seconds West, 115. 79 feet to a point on the West line of
said Gas Line Easement, thence continue along the North Right-of-
Way line of said Frazier Pike North 88 degrees 47 minutes 31 seconds
West, 888 .09 feet to a point, thence North 0 degree 13 minutes 11
seconds East , 1738. 95 feet to a point on the South Right-of-Way line
of Lindsey Road , thence South 89 degrees 47 minutes 08 seconds East,
506. G8 feet along the South Right-of-Way line of said Lindsey Road
to the point of tangency of a curve to the left with a radius of
1014 .93 feet , thence along the arc of said curve to the -left along
said South Right-of-t'lay line 271 .02 feet to a point on said South
Right-of-Way line , thence along a line tangent to said arc along
said South Right-of-Way line North 74 degrees 54 minutes 52 seconds
East , 391 . 64 feet to a point on the West line of said Gas Line Ease-
ment, thence continue along said South Right-of-Way line across said
54 East, 136.07 feet
Lasen;cnt North 7�► ci���arees ��_ minutes 52 seconds
to a point on the East line of said Easement, thence continue along
said South Right-of-Way line North 74 degrees 54 minutes 52 seconds
East, 584 . 96 feet to the point of tangency of a curve to the right
with a radius of 110 feet, thence along the arc of said curve to
F
•
the right 128 ..11 foot to a point on the West Ric;ht-or:-way
Fourche Dam Pike , thence along a line tarlqoii Lo said arc an . . ong
the West Right-o(:-city line of said Fourche Da-1 hiko South :e ;rce
30 minutes 52 seconds West, 1717 .34 feet to t:.e point of i:,e, i;...in
A parcel of land situated in Pulaski. County , being r.ar
of the North 1/2 of the North 1/2 of Section 21 , `lownoliiip x :vcr th,
Range 11 West , •also being a part of Area 102 in the Little Rock
Port Industrial. Park, an Addition to the Cit of Little Rock,
Arkansas, and being more particularly descri-ed as follows :
Commencing at the Northwest corner of said Section 21, Towm:::LLp 1
North, Range 11 West; thence South 88 degrees 47 minutes 3- seconds
East, 424.46 feet along 'the North line of said Section 21 to a
point; thence South O degrees 12 minutes 52 seconds East, 60 .00
feet to a point on the South right-of-way 1 no of Frazier. Pike and
said point being the point of beginning. : . _.ice from the point of
beginning South 88 degrees 47 minutes 31 seconds East, 2 ,171
-feet along said South right-of-way line to a point; thence Soul:-. .
degree 12 minutes 29 seconds West, .149.25 feet to• a point; thence
South 88 degrees 47 minutes 31 seconds East 156.00 feet to a point
on the West Easemont line of a 125 foot Natural Gas pipe Line
Company of America Easement; thence South -.7 degrees 14 minutes 27
seconds West, 1 , 143 . 57 feet, more or less, to a point on the Souta
line of said North 1/2 , of said North 1/2 of said Section 21; whence
along said South line of said North 1/2 , .:rth 1/2, Section 21 ,
North 88 degrees 47 minutes 55 seconds West 1, 989;42 feet more or
less, to a point; thence North 0 degrees 12 minutes 52 seconds East,
1, 260.20 feet to the point .of beginning.
and •
WHEREAS , the Notice of Option Agreement dated January 14 ,
1974 , erroneously recites the commencment date for the exercise
of the said option to be midnight , October 9 , 1974, which said
erroneous date has been corrected by memorandum letter of the
Little Rock Port Authority dated March 26 , 1974 ; and
WHEREAS , General Electric Company has requested that the
said option be exercisable on or before midnight , January 15 ,
1975 (in lieu of December 27 , 1974) subject to four (4) succes-
s ive annual extensions thereof ;
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NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES , the sum
of Ten Dollars ($10.00) to the Little Rock Port Authority, cash
in hand paid by General Electric Company, and for other good and
valuable consideration, the receipt of which is hereby acknow-
ledged, the City of Little Rock, Arkansas , and the Little Rock
Port Authority hereby extend the date on or before which General
Electric Company may exercise its option to purchase the said
lands with four (4) successive annual extensions thereof to mid-
night, January 15, 1975,
IN TESTIMONY WHEREOF, the City of Little Rock has caused
this instrument to be executed by its Mayor with its seal affixed
by its City Clerk and the Little Rock Port Authority has caused
this instrument to be executed by its Chairman and Secretary as
of the day of , 1974.
CITY OF LITTLE ROCK, ARKANSAS
By:
Mayor
ATTEST:
City Clerk
(S E A L) LITTLE ROCK PO$ AUTHORITY
: • . //
Chairman
ATTEST :
Secretary
(S E A L)
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STATE OF ARKANSAS )
) ss . ACKNOWLEDGMENT
COUNTY OF PULASKI )
On this day, before me, the undersigned, a Notary Public
within and for said County and State, duly commissioned,
qualified and acting, appeared and
to me well known, who stated that
they are the Mayor and City Clerk, respectively of the CITY OF
LITTLE ROCK, ARKANSAS , and that they are duly authorized in that
capacity to execute the foregoing instrument for and in the name
and behalf of the City of Little Rock, Arkansas , and further
stated and acknowledged that they have so signed, executed and
delivered said foregoing instrument for the purposes therein
mentioned and set forth.
IN WITNESS WHEREOF , I have hereunto set my hand and
official seal this day of , 1975.
Notary Public
My Commission will expire :
(S E A L)
STATE OF ARKANSAS )
ss . ACKNOWLEDGMENT
COUNTY OF PULASKI )
On this day, before me, a Notary Public , duly commis-
sioned and acting within and or said County - d State appeared
ip erson( he within named '1- and . a .
siory\a4k.1 , to me personall C well known, ho stated that
t ey were, respectively, the �tvvv►�a.vn.,) and
• a of the LITTLE ROCK PORT AUTHORITY, and
were dulyfauthorized in their respective capacities to execute
the foregoing instrument for and in the name and behalf of said
Authority, and further stated and acknowledged that they had
so signed executed and delivered said foregoing instrument for
the purposes therein mentioned and set forth.
IN WITNESS WHEREOF, I have hereunto set my hand and
official seal this y- day of OLce.vmauA) , 191:
La) <-Th
Not' ryi Public '>
My Commission will expire :
(S E A L)
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