1366RESOLUTION NO.
A RESOLUTION AUTHORIZING THE MAYOR OF THE CITY OF WEST
MEMPHIS TO NEGOTIATE AND ENTER INTO A MEMORANDUM OF INTENT
FOR THE USE OF CERTAIN PROPERTY BEING ACQUIRED BY THE CITY
FROM ARKANSAS POWER AND LIGHT COMPANY.
WHEREAS, the City of West Memphis is in the process of
acquiring certain property from Arkansas Power and Light Company
with the desire of developing such property for use as a
fairgrounds and other related purposes; and
WHEREAS, the Marion Saddle Club is in need of relocating
its existing horse show facilities and a portion of the property
being acquired by the City of West Memphis from Arkansas Power
and Light Company would be suitable for establishing a horse
show arena and related facilities; and
WHEREAS, the use of a portion of the property being
acquired by the City for a horse show arena and related
facilities would be consistent with the intended development and
use of the property; and
1~,, WHEREAS, the City could not make the property available for
~ such use until such time as the City has acquired title to the
property, but the City could further this project by setting out
its intentions in a memorandum of intent stating its desire to
develop this property far such use subject to the terms and
conditions of a lease agreement to be approved by the City
Council of the City of West Memphis;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, THAT the Mayor is hereby
authorized to negotiate and enter into a memorandum of intent
~:.
with the Marion Saddle Club for the development and use of a
portion of the property being acquired by the City of West
Memphis from Arkansas Power and Light Company as a horse show
arena and related facilities. Upon acquisition of title to said
property by the City of West Memphis, the use of said property
for such purposes shall be by a lease agreement, the terms and
conditions of which shall be subject to the approval of the West
Memphis City Council.
ADOPTED this 4th day of November, 1993.
._
K ITH M. INGRAM Mayor
ATTEST: ~ /
DAN CRAFT , C i~f ~)/e r
City~Arena.res ~