707}
ORDINANCE NO. ~~~
AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT BY AND
BETWEEN THE CITY OF WEST MEMPHIS, ARKANSAS, AS LESSOR,
AND EVANS PRODUCTS COMPANY, AS LESSEE, IN SUBSTANTIALLY
THE FORM AND WITH SUBSTANTIALLY THE CONTENTS SET FORTH
IN AND MADE A PART OF THIS ORDINANCE; AUTHORIZING THE
EXECUTION AND DELIVERY OF THE LEASE AND AGREEMENT;
PRESCRI BING 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 wherein the City of West Memphis,
Arkansas (the "City") is Lessor and Evans Products Company, a Delaware
corporation ("Evans"), Is Lessee, in substantlally 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 and
Agreement for and on behalf of the City. The form and contents of the Lease and
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 re?~li-
zction of the City's rights and to the discharge of the City's obligations as
Lessor under the Lease and 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 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are hereby repealed to the extent of such conflict.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 within 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 and Agreement authorized by this
Ordinance are necessary for the accomplishment of these public benefits and
purposes. It is, therefare, 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.
PASSED: December 2 _ 1971.
---' APPROVED:
ATTEST:
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Mayor
City Clerk