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ORDINANCE NO.
. AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT BY
AND BETWEEN THE-CITY OF WEST MEMPHIS, ARKANSAS, AS
.LESSOR, AND DELTA CASE COMPANY, INC. , AS LESSEE, IN
SUBSTANTIALLY THE FORM AND tiVITH THE CONTENTS SET
~, FORTH AND MADE. A~ PART OF THE 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 Delta Case
Company, Inc . , an Arkansas corporation ("Delta Case") , is Lessee, pertaining
to certain machinery, equipment and facilities described therein, in sub-
stantially 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:
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Section 2 . That the Mayor and City Clerk 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 separable, 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 or provisions.
Section 4. That all ordinances and parts of ordinances•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herewith are hereby repealed to the extent of such conflict.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 at the City 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 peace, health and
safety, shall be in force and take effect immediately upon and after 'its passage.
PASSED: ,,1 ~~ / ~ ~ 1977.
APPROVED:
ATTEST:
i ~~
a yor
• City. Clerk
(SEAL)