4:39 p.m. update:

Searcy Mayor David Morris announced that Searcy Police Department Chief Jeremy Clark resigned on Tuesday afternoon effective immediately.

"I can confirm that a search warrant was received by the City of Searcy this morning," Morris said. "I cannot make any further comment because of an ongoing investigation."

Agents with the Bureau of Alcohol, Tobacco, Firearm and Explosives searched Clark's home earlier Tuesday, authorities said.

Morris said Clark visited with him in person and tendered his resignation in writing.

A copy of Clark's resignation letter, provided to ArkansasOnline by the City of Searcy through a Freedom of Information Act request, shows that Morris received the letter at 3:45 p.m. on Tuesday.

Clark said in the letter that he was "reluctantly" resigning due to "events out of our control and the possible embarrassment that could be caused to the City of Searcy's Police Department."

Clark went on to apologize to the mayor, city council, citizens and police officers who have been affected by "this fruitless investigation into my life."

Morris has appointed Eric Webb, a 27-year veteran of the department, as the new Searcy Police Department chief "effective immediately and until further notice."

Earlier:

Agents with the Bureau of Alcohol, Tobacco, Firearm and Explosives searched the home of Searcy Police Chief Jeremy Clark on Tuesday, authorities said.

Special Agent Kevin Moran said he could not divulge the nature of the search, but said officials contacted Clark and he then accompanied investigators when they went to the home on Whippoorwill Drive to serve the warrant.

Moran said Clark has not been arrested and that he was being "cooperative" in the process. He described Clark as a "suspect in an investigation" by the bureau, but said further details couldn't be released.

"Depending on what is recovered from the residence during the search will dictate where they go from here," Moran said.

Clark didn't immediately return a message left at his office at police headquarters and his cellphone went straight to voice mail Tuesday afternoon.