12684I RESOLUTION NO. 12,684
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER INTO AN
4 AGREEMENT TO ACCEPT A $250,000 DONATION FROM THE PEABODY HOTEL
5 FOR IMPROVEMENTS TO THE RIVERFRONT PARK IN EXCHANGE FOR NAMING
6 RIGHTS TO THE RIVERFRONT PARK ADVENTURE PARK; AND FOR OTHER
7 PURPOSES.
8
9 WHEREAS, the Little Rock Parks and Recreation Department is constructing significant park
10 improvements in the Julius C. Breckling Riverfront Park, including the addition of an adventure park for
11 children and families that incorporates an innovative design for fun, imagination and child
12 development skills; and
13 WHEREAS, the Peabody Hotel wishes to enhance the beauty of Riverfront Park and the area
14 surrounding the Peabody Hotel for the enjoyment of Little Rock residents and the many visitors to
15 Little Rock including guests of the Peabody; and
16 WHEREAS, the Peabody Hotel has offered to donate $250,000.00 to the City of Little Rock over the
17 next five years to be used in the construction of Riverfront Park amenities; and
18 WHEREAS, it is in the interest of the City of Little Rock to give naming rights for the new
19 adventure park and provide other assurances to the Peabody Hotel in appreciation for the Peabody's
20 generous donation to the City for Riverfront Park improvements;
21 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
22 ROCK, ARKANSAS:
23 Section 1: The City Manager is hereby authorized to enter into an agreement with the Peabody
24 Hotel, to give naming rights for the City's Riverfront Park adventure park, subject to the City's
25 approval, and to provide other assurances to the Peabody Hotel in exchange for a Two Hundred Fifty
26 Thousand Dollar ($250,000.00) donation from the Peabody Hotel to the City of Little Rock, payable in
27 five equal installments of Fifty Thousand Dollars ($50,000.00) each year over a period of five (5) years,
28 to be used for the construction of Riverfront Park amenities.
29 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause,
30 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
31 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
32 in full force and effect as if the portion so declared or adjudged invalid or unconstitutional were not
33 originally a part of the resolution.
34 Section 5. Repealer. All laws, ordinances, resolutions, or parts of the same, that are
35 inconsistent with the provisions of this resolution, are hereby repealed to the extent of such
36 inconsistency.
37 ADOPTED: May 6, 2008
Resolution to authorize the City Manager to (PAGE l OF 21
enter an agreement with the Peabody Hotel
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ATTEST:
�-.2.��
Nan Wood, Cify Clerk
APPROVED AS TO LEGAL FORM:
4 " 4, 4 —/' A
Thomas M. Carpenter, City Att ey
Resolution to authorize the City Manager to
enter an agreement with the Peabody Hotel
A77VD:
Mark Stodola, Mayor
[PAGE 2 OF 21