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AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT BY AND BETWEEN THE CITY OF JONESBORO, ARKANSAS, AS LESSOR AND DELTA, INC. OF ARKANSAS, AS LESSEE, IN SUBSTANTIALLY THE FORM AND WITH THE CONTENTS SET FORTH AND MADE A PART OF THE ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF THE LEASE AND AGREEMENT; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY
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BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
Section 1: That there be, and there is hereby authorized the execution and delivery of a Lease and Agreement (the “Lease Agreement”) wherein the City of Jonesboro, Arkansas (the “City”) is Lessor, and Delta, Inc. of Arkansas, an Arkansas Corporation (“Delta”), is Lessee, in substantially 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 Agreement for and on behalf of the City. The form and contents of the Lease Agreement, which are hereby approved and which are made a part hereof, shall be substantially as follows: (Lease and Agreement are on file in the City Clerk’s office)
Section 2: That the Mayor and the 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 discharge the City’s obligations as Lessor under the Lease Agreement.
Section 3: That the provision of this Ordinance are hereby declared to be separable, and if any section, phrase of 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Section 4: That, all ordinances and parts of ordinances in conflict herewith are hereby repealed to the extent of such conflict.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 securin...
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