54680 R D INANCE ^!o. 5468
LN ORDINANCE AUTHORIZING TEE 11L.YOR r.ND THE CITY CLERiK TO ' IE , LEASE
ON BEjL4_U OF THE CITi'Y OF LITTLE ROCK t1ITK THE ARKANSAS ITMESSIENT Ca)JPANY,
ASSIGNEES OF THE G. G. 'WOOD COIL COMPANY FOR A RIGHT- OF -17AY ACROSS THE L0:7...R
EATD OF BROADWAY STREET' AND FOR OTHER PURPOSES.
BE IT ORIXiINED BY THE CITY COITNCIL OF T T CITY OF LITTLE ROCK:
Section 1. That the Mayor and City Clerk ire hereby authorized and
directed, on behalf of the city, to execute a lease renewing the lease
conveying to the 2skansas Investment Company, or assigns, assignees of the
G. G. Wood Coal Company, for a period of twenty years, a right -of -way for
spur track across Broadway Street under -broadway 3ridge, between Garland
-venue and -rkansas rover, for a consideration of :?25.00 per year. the
period of this lease running from January lst, 1937, and the annual pay-
ment due the 'ity on i,Iarch 5th each year in advance. The Annual payment
has been made to the city collector for each year since the original lease
,ras executed.
i'rovided, however, provision shall be inserted in said lease permitting
the termination of said lease at such time as the City Council may deem
" traffic upon Droadway Street (under bridge) sufficiently dense to warrant
the removal of said tracks.
Section 2. All ordinances and parts of ordinances in conflict here-
with are hereby repealed, and this ordinance shall take effect and be in
force from and after its passage.
Passed: JfIne 11 11 1937 Approve
' Mayor.
l.ttest:
ity ler