ORD NO 35-1974 ORDINANCE No. 35 1974
AN ORDINANCE AUTHORIZING A LEASE AGREEMENT BY AND BETWEEN THE
CITY OF Van Buren, ARKANSAS AS LESSOR AND FARMERS COOP. OF ARKANSAS
AND OKLAHOMA, AS LESSEE, IN SUBSTANTIALLY THE FORM AND WITH SUBSTANTIALLY
THE CONTENTS SET FORTH IN AND MADE A PART OF THIS ORDINANCE: AUTHORIZING
THE EXECUTON AND DELIVERY OF SAID LEASE AGREEMENT: PRESCRIBING OTHER MATTERS
RELATING THERETO: AND DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VAN BUREN, ARKANSAS:
Sectionl. That therebe, and there is hereby, authorized the execution and
delivery of a Lease Agreement wherein the City of Van Buren, Arkansas (called
"City is Lessor and FARMERS COOP. OF ARKANSAS AND OKLAHOMA (called "Farmers
is Lessee, in substantially the form and with substantially the contents hereafter
set forth, and the Mayor and City Clerk be, and they are hereby, authorized to
execute, acknowledge and deliver said Lease Agreement for and on behalf of the City.
The form and contents of said Lease Agreement, which are hereby approved and which
are made a part hereof, shall be substantially as follows:
(Advise is hereby given that a copy of the form of Lease Agreement is on
file in the office of the City Clerk, and reference may be had thereto
by any interested person.)
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 said Lease Agreement.
Section 3. That the provisions of this Ordinance are hereby declared to be separ-
able, 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hereby repealed to the extent of such conflict.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
0 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 accomplish-
ment .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 health, safety and welfare, shall be in force and take effect immediately
upon and after its passage.
Passed: November 27, 1974
APPROVED:
ATTEST: Mayor
City Clerk