817°~= Viz,
.~`. ~~~:E.,,,~
ORDINANCE NO.
AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT BY
"` AND BETWEEN THE CITY OF WEST MEMPHIS, ARKANSAS, AS
LESSOR, AND ARKANSAS LIGHTWEIGHT AGGREGATE CORPORATION,
AS LESSEE, IN SUBSTANTIALLY THE FORM AND W[TH SUB-
STANTIALLY THE CONTENTS SET FORTH IN AND MADE A PART
OF THIS ORDINANCE; AUTHORIZING THE EXECUTION AND
DELIVERY OF THE LEASE AND AGREEMENT; PRESCRIBING OTHER
MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY.
BE IT ORDAINED by the City Council of the City of West Memphis,
Arkansas:
Section 1 . That there be , and there is hereby authorized the execution
and delivery of a Lease and Agreement (the "Lease Agreement") wherein the
City of West Memphis, Arkansas (the "City"), is Lessor and Arkansas Lightweight
Aggregate Corporation, an Arkansas corporation (''Arkansas Lightweight Aggregate") , is
Lessee , in substantially the form and with substantially the contents hereinafter
set forth, and the Mayor and City Clerk be, and they are hereby authorized to
execute, acknowledge and deliver the Lease Agreement for and on behalf of the
City. The form and contents of the Lease Agreement, which are hereby approved
and which are made a part hereof, shall be substantially as follows:
Section 2 . That the Mayor and City Cler}: be , and they are hereby ,
authorized and directed, for and on behalf of the City, to do all things, execute
all instruments and otherwise take all action necessary to the realization of the
City's rights and to the discharge of the City's obligations as Lessor under the
Lease Agreement.
Section 3. That the provisions of this Ordinance are hereby declared
to be severable, and if any section, phrase or provision shall, for any reason,
be declared to be invalid, such declaration shall not affect the validity of the
remainder of the sections phrases and provisions.
Section 4. That all ordinances and parts thereof in conflict herewith
are hereby repealed to the extent of such conflict.
Section 5. That there is hereby found and declared to be an immediate
need for the securing and developing of industry in order to provide additional
employment and increased payrolls, alleviate unemployment and provide other
benefits incidental to the operation of a substantial industry, and the execution
and delivery of the Lease Agreement authorized by this Ordinance are necessary
for the accomplishment of these public benefits and purposes. It is, therefore,
declared that an emergency exists, and this Ordinance, being necessary for the
immediate preservation of the public health, safety and welfare, shall be in
force and take effect immediately upon and after its passage .
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PASSED: ~~~/ / ~ 1974.
APPROVED:
L
ATTEST:
T
ity Cleck
Mayor
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(SEAL)