7190r= i me= r= M me = M= M
RESOLUTION NO.
7,190
A RESOLUTION APPROVING THE ASSIGNMENT OF
THE AGREEMENT FOR THE SALE OF METHANE GAS
WITH PHF EXPLORATION COMPANY, INC.;
GRANTING RIGHT OF FIRST REFUSAL AT NEW
LAND FILL SITE.
WHEREAS, on February 22, 1982, the City of Little Rock and
PHF Exploration Company entered into an agreement for the sale of
methane gas on certain property in the City of Little Rock; and
WHEREAS, Section 6 of that agreement provided that PHF
Exploration Company could assign its rights under the agreement
with the consent of the City of Little Rock; and
WHEREAS, PHF Exploration Company desires to assign its
rights to Metropolitan Trust Company; and
WHEREAS, Metropolitan Trust Company desires to have an
option to explore and produce methane gas from the land
immediately South of the land described in the agreement.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS:
SECTION 1. The City of Little Rock hereby approves the
assignment of the agreement for the sale of methane gas with PHF
Exploration Company, Inc. to Metropolitan Trust Company.
SECTION 2. Metropolitan Trust Company is hereby granted
the right to explore and produce methane gas from the land
immediately South of the land described in the Agreement, if the
City of Little Rock determines that the methane gas should be
explored in that area, and if competitive bidding is taken, and
Metropolitan Trust Company matches the terms and conditions of
the high bid.
ADOPTED: May 1, 1984
ATTEST:
APPROVED:
CITY L K JANE ZECH YOR J. W. BEN IELD
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