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AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT BY AND BETWEEN THE CITY OF JONESBORO, ARKANSAS, AS LESSOR, AND HYTROL CONVEYOR COMPANY, INC., AS LESSEE, IN SUBSTANTIALLY THE FORM AND WITH SUBSTANTIALLY THE CONTENTS SET FORTH IN AND MADE A PART OF THIS ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF THE LEASE AND AGREEMENT: PRESCRIBING OTHER MATTERS RELATING THERETO: AND DECLARING AN EMERGENCY (NOTE: THIS LEASE WAS AMENDED BY ORD-88:1322 ON NOVEMBER 21, 1988)
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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 (the “City”), is Lessor and Hytrol Conveyor Company, Inc., a Wisconsin corporation (“Hytrol”) 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 the Lease and Agreement for and on behalf of the City. The form and contents of the Lease and Agreement, which are hereby approved and which are made a part hereof, shall be substantially as follows:
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 the 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 affect the validity of the remainder of the sections, phrases or provisions.
Section 4: That, all ordinances and part of ordinances, in conflict herewith, are hereby repealed to the extent of such conflict.
Section 5: That there is hereby found and declared to e an immedi...
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