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Home My WebLink About16523 1 RESOLUTION NO. 16,523 2 3 A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO 4 EXECUTE A SIXTH AMENDMENT TO LEASE AGREEMENT 5 BETWEEN THE CITY OF LITTLE ROCK, ARKANSAS AND THE 6 OAKLAND & FRATERNAL HISTORIC CEMETERY PARK BOARD AS 7 LESSORS AND THE LITTLE ROCK SCHOOL DISTRICT AS LESSEE 8 TO EXTEND THE LEASE FOR ONE (1) ADDITIONAL TERM OF ONE 9 (1)-YEAR EFFECTIVE JANUARY 1, 2025 AND TO APPROVE BASIC 10 ANNUAL RENT FOR THE YEAR 2025 IN THE AMOUNT OF 11 THIRTEEN THOUSAND, EIGHT HUNDRED DOLLARS ($13,800.00); 12 AND FOR OTHER PURPOSES. 13 14 WHEREAS, on January 1, 1962 the City of Little Rock, Arkansas ("City") and the Oakland & 15 Fraternal Historic Cemetery Park Board ("Oakland Cemetery Board") as Lessors, and the Little Rock 16 School District ("School District"), as Lessee, entered into a fifty (50) year Lease for the leasing of 17 property owned by the City for the benefit of the Oakland Cemetery on which the Booker School was 18 subsequently constructed by the School District for the education of children of the District; and, 19 WHEREAS,the first fifty(50)years of the Lease ended at midnight on December 31,2011; and, 20 WHEREAS,on February 4, 1992,the parties executed an Amendment to the Lease to provide for 21 an increase in the Basic Rent under the Lease by$200 per year;and, 22 WHEREAS, Article XV, Section 1501 of the Lease grants the School District options to extend 23 the Lease for four(4) successive terms of ten (10) years each and one (1) additional term thereafter for 24 nine(9)years; and, 25 WHEREAS,on April 4,2012,the parties entered into a second Amendment to the Lease whereby 26 the School District exercised its option pursuant to Article XV, Section 1501 of the Lease to extend the 27 Lease for the first ten (10) year renewal term, with the basic rent under the Lease increasing by $200 28 annually.The annual Basic Rent under the Lease for 2021 was Thirteen Thousand,Eight Hundred Dollars 29 ($13,800.00); and, 30 WHEREAS, on November 11, 2021 the School District requested that the City and the Oakland 31 Cemetery Board consider a one (1)-year extension of the Lease while the School District assessed its 32 facility needs during the first quarter of 2022;and [PAGE 1 OF 3] 1 WHEREAS, on December 16, 2021 the parties entered into a Third Amendment to the Lease to 2 extend the Lease for one (1) additional term of one (1)-year and to provide for basic annual rent for the 3 year 2022 in the amount of Thirteen Thousand, Eight Hundred Dollars ($13,800.00), payable in advance 4 at the office of Lessor Oakland Cemetery Board during the month of February,2022;and, 5 WHEREAS, on March 15, 2023 the parties entered into a Fourth Amendment to the Lease to 6 extend the Lease for one (1) additional term of one (1)-year and to provide for basic annual rent for the 7 year 2023 in the amount of Thirteen Thousand, Eight Hundred Dollars ($13,800.00), payable in advance 8 at the office of Lessor Oakland Cemetery Board during the month of March,2023;and, 9 WHEREAS, on December 14, 2023 the parties entered into a Fifth Amendment to the Lease to 10 extend the Lease for one (1) additional term of one (1)-year and to provide for basic annual rent for the 11 year 2024 in the amount of Thirteen Thousand, Eight Hundred Dollars ($13,800.00), payable in advance 12 at the office of Lessor Oakland Cemetery Board during the month of February,2024;and, 13 WHEREAS,on November 6,2024 the Oakland Cemetery Board approved a Sixth Amendment to 14 Lease Agreement to extend the Lease for one(1)additional term of one(1)-year and to provide for basic 15 annual rent for the year 2025 in the amount of Thirteen Thousand, Eight Hundred Dollars ($13,800.00), 16 payable in advance at the office of Lessor Oakland Cemetery Board during the month of February, 2025; 17 and, 18 WHEREAS, the parties desire to extend the Lease for one (1) additional term of one (1)-year, 19 effective January 1,2025 and ending on December 31,2025. 20 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 21 OF LITTLE ROCK.ARKANSAS: 22 Section 1. The Board of Directors hereby authorizes the Mayor and City Clerk to execute a Sixth 23 Amendment to Lease Agreement between the City of Little Rock,Arkansas and the Oakland&Fraternal 24 Historic Cemetery Park Board as Lessors, and the Little Rock School District, as Lessee, in order to 25 extend the Lease for one (1)additional term of one(1)-year effective January 1, 2025, and to provide for 26 basic annual rent for the year 2025 in the amount of Thirteen Thousand, Eight Hundred Dollars 27 ($13,800.00), payable in advance at the office of Lessor Oakland Cemetery Board during the month of 28 February,2025.The Lease Agreement shall end at midnight on December 31,2025. 29 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 30 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 31 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 32 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 33 resolution. [PAGE 2 OF 3] 1 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent 2 with the provisions of this resolution,are hereby repealed to the extent of such inconsistency. 3 ADOPTED:December 3,2024 4 5 ATTEST: APPROVED: 6 • -21%.A-A15" 7 'MILKY\ A 8 Allison Segars,A 1W_ ity Clerk Frank Scott,Jr.,Mayor 9 APPROVED AS TO LEGAL FORM: 10 11 OA' 12 Thomas M.Carpenter,City orney 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [PAGE 3 OF 3]