1210-.
ORDI?DANCE ~~~~o
O m~rE CITY OF 4lEST MEt•IPHIS
ARKANSAS
PRE:•'ACE
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SUBJECT: AN ORDINANCE AUTHORIZING THE PURCHASE OF
ONE PER CENT (1%) OF THE INDEPENDENCE
STEAM ELECTRIC STATION (ISES) UNIT 2
COAL HANDLING EQUIPMENT (CHE) FROM
ARKANSAS POWER & LIGHT COMPANY, DECLARING
AN EMERGENCY AND FOR OTHER PURPOSES
SPONSORED BY:
FIRST READING: hSONTH DAY ~ YEAF,
SECOrID READING: MONTH DAY YEAR
' THI;=~D READI?JG : MONTH DAY YEAR
EIriERGENCY CLAUSE: MONTH DAY YEAR
PUBLISHED:' MONTH DAY YEAR
DATE OF COUiICIL MINUTES PASSED:
MONT}i DAY YEAR
#Revenue Ordinance must be published four (~) times.
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ORDINANCE N0. ~~
AN ORDINANCE AUTHORIZING THE PURCHASE OF ONE PER CENT (1%)
OF THE INDEPENDENCE STEAM ELECTRIC STATION (ISES) UNIT 2
COAL HANDLING EQUIPMENT (CHE) FROM ARKANSAS POWER & LIGHT
COMPANY, DECLARING AN EMERGENCY AND FOR OTHER PURPOSES.
WHEREAS, the West Memphis Utility Commission recommended
to the West Memphis City Council that it was to the best
interest of the City of West Memphis, Arkansas, that the
City should purchase one per cent (1%) of the Independence
Steam Electric Station (ISES) Unit 2 Coal Handling Equipment
(CHE); and,
WHEREAS, it is necessary that the City Council approve
the recommendation of the West Memphis Utility Commission
and authorize the Mayor to sign the necessary documents for
and in behalf of the City of West Memphis, Arkansas;
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS:
SECTION 1. That the sale of one per cent (1%) of the
Independence Steam Electric Station (ISES) Unit 2 Coal
Handling Equipment (CHE) to the City of West Memphis from
the Arkansas Power and Light Company is hereby approved;
SECTION 2. That the City of West Memphis will pay the
sum of $44,302.67 to the Arkansas Power & Light Company
Bank Account at Simmons First National Bank at Pine Bluff,
Arkansas, Account No. 140007;
SECTION 3. That the Mayor is hereby authorized to
sign all necessary documents to consummate this sale and
such other Amendments to the Ownership and Operating Agreement
as deemed necessary;
SECTION 4. All Ordinances or Parts of Ordinances in
conflict herewith are hereby repealed.
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SECTION 5. Emergency Clause. It having been found
and determined by the City Council of the City of West
Memphis, Arkansas, that there is an urgent need to pass
this Ordinance in order to meet the deadline of the closing
of the sale on January 15, 1985, therefore, an emergency is
hereby declared to exist and this Ordinance being necessary
for the public peace, health, safety and welfare of the
Citizens of the City of West Memphis, Arkansas, shall become
effective immediately upon its passage and approval.
PASSED AND APPROVED this ~ ~ day o /VDU ,
1985.
MA
+ ATTEST:
J•
CITY CLERK
S NSORED BY:
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2.