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424;{ . ORDINANCE NO. l~21~ AN ORDINANCE AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE ~~ r AN AGREEMENT BETWEEN THE ARKANSAS POWER & LIGHT COMPANY r AND THE CITY OF WEST MEMPHIS, ARKANSAS FOR THE PURCHASE OF POWER AND ENERGY BY THE CITY FOR DISTRIBUTION THROUGH ITS ELECTRICAL SYSTEM AND THE SUPPLYING OF POWER AND ENERGY BY THE ARKANSAS POWER AND LIGHT COMPANY, DECLARING AN EMERGENCY AND FOR OTHER PURPOSES: WHEREAS, the West Memphis Utility Commission at a meeting held on August 7, 1962, approved a contract between the City of West Memphis, Arkansas, and the Arkansas Power & Light Company, and recommended the approval of same by the City Council of the City of West Memphis, and WHEREAS, said agreement recites that same is made the 5th day of July, 1962, and the term of the agreement shall be from June 25, 1962, to June 25, 1972, NOW, THEREFORE, be it ordained by the City Council of the City of West Memphis, Arkansas: SECTION 1. That the agreement for electric service as recommended by the West Memphis Utility Commission be approved by the City Council of West Memphis, Arkansas. SECTION 2. The term of the agreement shall begin on June 25, 1962, and shall continue in full force and effect to and including June 25, 1972, and shall be automatically extended for successive periods of one year unless termi- nated by written notice given by one party to the other not more than six (6) months nor less than three (3) months prior to the expiration of the original term or any extension thereof. ~ SECTION 3. The President pro tempore of the City of West Memphis, ~•+~ Arkansas, presiding in the absence of the Mayor, is hereby authorized, directed and empowered to execute the power contract for the City of West Memphis, Arkansas, with the Arkansas Power & Light Company, and his signature to be . ~r -2- attested by the City Clerk of West Memphis, Arkansas, and said agreement, three copies of which are on file in the office of the City Clerk, shall be in full force and effect upon the execution of said agreement by the appropriate officials of the Arkansas Power and Light Company. SECTION 4. All ordinances or parts of ordinances in conflict herewith are hereby repealed. SECTION 5. The City Council has ascertained that it is imperative that a new power contract be executed immediately; THEREFORE, an emergency is hereby declared to exist, and this ordinance being necessary for the immediate preservation of the public peace, health and safety, shall be in full force and effect immediately upon its passage and approval. PASSED this 27th day of August, 1962. CITY OF WEST MEMPHIS, ARKANSAS n By: President ro empore ATTEST: City Clerk ~.