11670
s
RESOLUTION 1167
WHEREAS, the City of Little Rock has executed a lease to the
Athletic association of Little dock, Arkansas, for property now occupied by
them, which is recorded in the "ecord Book entitled "Leases and Contracts" of
the City of Little Rock, on page 14; and,
7HEREAS, the lease was extended in 1908 for ninety -nine (99) years
as recorded in the above Record Book; and,
WHEREAS, the Athletic Association desires to construct or install an
out -door swimming pool and to make other improvements on its property to the
amount of Nine Thousand Dollars ($9,000.00); Now, Therefore,
BE IT RESOLVED BY THE' CITY COUNCIL OF THE CITY OF LITTLE ROCK:
That the said Athletic Association of Little Rock be, and the same
is hereby authorized and permitted to execute a mortgage upon its said lease
and property, and assign said lease to secure the payment of Nine Thousand
Dollars ($9,000.00), or so much thereof as may be necessary, in order to pay
for the construction of or installation of an out -door swimming pool and for
making other improvements on its property; that the execution of said mortgage
and assignment of said lease shall not constitute a breach of any of the terms
of said lease, and in so far as this one mortgage and assignment, or any action
that may be taken thereunder, is concerned, this is a waiver of the terms and
restrictions of said lease.
ADOPTED: May 11, 1925-
ATTE APPROVED:
ity Clerk Mayor �