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AN ORDINANCE AUTHROIZING A LEASE AND AGREEMENT BY AND BETWEEN THE CITY OF JONESBORO, ARKANSAS AS LESSOR AND SOUTHERN CAST PRODUCTS, INC. AS LESSEE IN SUBSTANTIALLY THE FORM AND WITH SUBSTANTIALLY THE CONTENTS SET FORTH IN A MADE A PART OF THIS ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF SAID 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 wherein the City of Jonesboro, Arkansas (called “City”) is Lessor and Southern Cast Products, Inc., an Arkansas corporation (“Southern”) 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 and Agreement for and on behalf of the City. The form and contents of said Lease and Agreement, which are hereby approved and which are made a part hereof, shall be substantially as follows: (a form of the lease and agreement is on file in the City Clerk’s office for inspection 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 and Agreement.
Section 3: That the provisions of this Ordinance are hereby declared to be separable, and if any section, phrase or provision shall, for any reason, be declared to be invalid, such declaration shall not effects 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Section 4: That, all ordinances and parts thereof in conflict herewith are hereby repealed to the extent of such conflict.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 ther...
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