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RESOLUTION NO. 81327
A RESOLUTION TO RATIFY THE
EXTENSION OF A LEASE AGREEMENT
BETWEEN THE CITY OF LITTLE ROCK AND
THE SUBARU -SOUTH PROJECT PURSUANT
TO CITY OF LITTLE ROCK, ARKANSAS
INDUSTRIAL DEVELOPMENT REVENUE
BONDS SUBARU -SOUTH PROJECT, SERIES
1980.
WHEREAS, the City entered into a lease agreement with
Subaru -South in 1980 for a period of ten (10) years; and
WHEREAS, this lease agreement may be extended for a
period of one (1) year from January 1, 1990, through December
31, 1990, pursuant to its terms upon the payment of $100 rental;
and
WHEREAS, the City Manager has recommended that the City
accept this yearly rental concerning the industrial facilities
located in the Little Rock Port Industrial complex which is in
the best interest of both Subaru-South and of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Board of Directors upon report and
recommendation of the City Manager hereby accepts the $100
annual rental payment and ratifies the extension of the lease
agreement between the City of Little Rock, Arkansas, and
Subaru -South for a period of one (1) year through December 31,
1990.
SECTION 2. This Resolution shall be in full force and
effect from and after the date of its adoption..
ADOPTED: July 3, 1990
,i, —4 CLERK
APPROVED AS TO/VORM:
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