13344ORDINANCE NO. 13,344
AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT BY
AND BETWEEN THE CITY OF LITTLE ROCK, ARKANSAS, AS
LESSOR AND NORTH AMERICAN METALS, INC., AS LESSEE IN
SUBSTANTIALLY THE FORM AND WITH THE CONTENTS SET
FORTH AND MADE A PART OF THE ORDINANCE; AUTHO-
RIZING THE EXECUTION AND DELIVERY OF THE LEASE AND
AGREEMENT; PRESCRIBING OTHER MATTERS RELATING THERE-
TO; AND DECLARING AN EMERGENCY.
BE IT ORDAINED by the Board of Directors of the City of Little
Rock, Arkansas:
Section 1. That there be, and there is hereby authorized the
execution and delivery of a Lease and Agreement wherein the City of
Little Rock, Arkansas (the "City ") , is Lessor, and North American
Metals, Inc. , a corporation ( "North American "), is Lessee, in substan-
tially the form and with substantially the contents hereinafter set forth,
and the Mayor and the 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 Agree-
ment, 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 obliga-
tions 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 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herewith are hereby repealed to the extent of such conflict.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 imme-
diate need for the securing and developing of industry at the City in order
to provide additional employment and increased payrolls, alleviate unemploy-
ment and provide other benefits incidental to the operation of a substantial
industry, and the execution and deliver of the Lease and Agreement autho-
rized by this Ordinance are necessary for the accomplishment of these
public benefits and purposes. It is, therefore, declared that an emergency
exists, and this Ordinance, being necessary for the immediate preservation
of the public peace, health and safety, shall be in force and take effect
immediately upon and after its passage.
PASSED: September 20 , 1977.
ATT APPROVED:
City er Mayor
(SEAL)
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