RES NO 10-04-1981 ke -4 -\01g I
CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. 3/4 AO 1981
0
A RESOLUTION AUTHORIZING AN AGREEMENT BETWEEN THE CITY OF VAN BUREN,
ARKANSAS, AND THE SUNBELT REGIONAL WATER DISTRICT.
WHEREAS, The City of Van Buren owns certain assets on Lower Lee
Creek; and
WHEREAS, The Sunbelt Regional Water District has been establish-
ed for the purpose of developing a long range water
supply for the Crawford and Sebastian County area; and
WHEREAS, The Sunbelt Regional Water District will, in all prob-
ability, need to utilize Van Buren's assets on Lower
Lee Creek in developing a regional water supply; and
WHEREAS, The City of Van Buren desires to co- operate with the
Sunbelt Regional Water District in development of a
regional water supply.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VAN
BUREN, ARKANSAS:
Section 1. THAT, the Mayor is hereby authorized and directed to
enter into an agreement with the Sunbelt Regional Water
District and the City Clerk- Treasurer is hereby author-
ized and directed to attest same.
Section 2. THAT, ..a copy of said agreement, after execution, will be
attached as part of this Resolution.
PASSED AND APPROVED THIS 19th DAY OF October 19 81
1
MAYOR
ATTESTED:
j
C ERK- TREASUR R
CONTRACT
This agreement made and entered into between the City
of Van Buren, Arkansas, hereinafter referred to as Van
Buren, and The Sunbelt Regional Water District, hereinafter
0 referred to as Sunbelt, this S -144 day of 40,/#EM S#jt.
1981.
WHEREAS, Van Buren owns certain real estate and improvements
in Crawford County, Arkansas, more fully described in Exhibit "A"
which is attached hereto, incorporated herein by reference
and made a part hereof, which lie on, across and around Lee
Creek and which are hereinafter referred to as "Assets and
WHEREAS, Sunbelt desires to develop a regional water
supply which will utilize the Assets of Van Buren described
in Exhibit "A and
WHEREAS, it would be to the mutual benefit of both
parties to provide a method for transferring the Assets of
Van Buren described in Exhibit "A" to Sunbelt in order to
facilitate the construction of the regional water supply.
NOW, THEREFORE, for and in consideration of the foregoing
and other good and valuable considerations, the receipt and
sufficiency of which is hereby acknowledged, it is agreed as
follows:
1. Within not longer than one year from the date
hereof, Sunbelt will develop and present to Van Buren a
regional water supply project, together with a feasible
financing plan. Van Buren will review and approve such
project and financing plan and notify Sunbelt of its acceptance
or rejection of same within sixty (60) days thereafter.
Upon acceptance of such project and plan, Van Buren will
convey title to the Assets to Sunbelt. If Van Buren does
not accept the project and plan, it is under no obligation
to convey the assets to Sunbelt. Van Buren shall not be
required to convey the assets to Sunbelt if the assets are
not proposed to be incorporated into the project presented
by Sunbelt to Van Buren.
2. Sunbelt agrees that the Assets of Van Buren described
in Exhibit "A" shall only be used in connection with and
incorporated into a regional water supply project and that
Sunbelt shall not transfer all or any part of such Assets to
any third party without the prior written consent to Van
Buren. This prohibition shall not be construed to require
the consent of Van Buren in order for Sunbelt to place a
mortgage, deed of trust, trust indenture or other type of
instrument conveying a lien or security interest in any of
such Assets to a third party for the purpose of securing
financing for or construction of any part of said regional
water supply project.
3. Sunbelt agrees that the Assets described in Exhibit "A"
and any improvements made thereto or thereon by Sunbelt
shall revert to Van Buren if the Assets described in Exhibit "A"
are not used in the construction of a regional water supply
project or if, having been incorporated into a regional
water supply project, such project ceases to be operated and
owned by Sunbelt.
4. Neither party may assign its interest in this
Contract or the Assets described in Exhibit "A" without the
prior written consent of the other. This contract may not
be terminated without the written consent of both parties.
5. So long as this contract remains in effect, Van
Buren shall not enter into any other agreement with any
other party concerning the Assets described in Exhibit "A"
hereto.
IN WITNESS WHEREOF, the said City of Van Buren, Arkansas,
has, by order of its City Council, caused these presents to
be signed by Honorable Robert E. Bell, Mayor, and attested
by Ann Graham, City Clerk, and The Sunbelt Regional Water
District has caused these presents, by order of its Board of
Directors, to be executed by Ross Pendergraft, its President,
and H. L. Hembree, its Secretary.
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t
CITY OF VAN BUREN, ARKANSAS
BY 4,41
Honorable Robert E. Bell
ATTEST\
4
Ann Graham, City Clerk
TH UNBELT EGIONAL WATER DISTRICT
BY
-----C 1 ,1,7
oss Pendergraft, PrtssAd n
ATTEST
H. L. Hembree, Secretary
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EXHIBIT A
Those Parcels of Land, as needed for the Project,
(Easements and Fee) listed in Quitclaim Deed from the United
States of America to the City of Van Buren, recorded in
Record Book 494 at Page 69 on September 29, 1981, in the
records of the Circuit Clerk and Ex Officio Recorder of
Crawford County, Arkansas, and
The Weir owned by the City of Van Buren in Section 4,
T -9 -N, R -32 -W in Crawford County, Arkansas, less and except
any salvagable appurtenances, and
The 20 acres owned by the City of Van Buren in Section 4,
T -9 -N, R -32 -W in Crawford County, Arkansas, described more
particularly as follows: Part of the SE; of said Section 4,
described as beginning at a point in the middle of Lee's
Creek where the section line running North and South between
Section 3 and 4, T -9 -N, R -32 -W, intersects Lee Creek; thence
South on said section line to the Southeast corner of the
NE' of the SE; of said Section 4, T -9 -N, R -32 -W. Thence
West on the South line of said NE; of the SEa to the Southwest
corner of same. Thence South 80 rods to the South line of
said Section 4; thence West to the middle of Lee's Creek;
thence in a northerly and easterly direction down the middle
of Lee's Creek to the point of beginning.
Signed for Identification:
iii
R. E. :p11, Mayor
'it of AO
a
•oss Pen.ergraft, Prs•di
lc he Sunbelt Regional Water District