HomeMy WebLinkAbout9161M r M M M == M M M M M= M M
)SOLUTION NO. 9,161 0
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2
3 A RESOLUTION ACCEPTING THE RECOMMENDATION OF THE
4 ADVERTISING AND PROMOTION COMMISSION TO GRANT THE
5 RIGHTS TO THE CAMELOT HOTEL TO SEYMOUR LOGAN
6 ASSOCIATES; DIRECTING THE NEGOTIATION OF FINAL TERMS
7 OF A CONSTRUCT AND LEASE AGREEMENT; AND FOR OTHER
a PURPOSES.
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11 WHEREAS, on April 13, 1994, the Board of Directors adopted a Resolution
12 accepting the recommendation of the Advertising and Promotion Commission of five
13 finalist proposals to own, renovate and operate the Camelot Hotel, and established a
14 negotiating committee to conduct further negotiations with the finalists; and
15
16 WHEREAS, on May 16, 1994, the Advertising and Promotion Commission
17 accepted the report of the negotiating committee and adopted a recommendation that
18 Seymour Logan Associates be granted the right to own and the obligation to operate the
19 lease, air rights and improvements now known as the Camelot Hotel as a first class
20 convention hotel, and recommended that the Board of Directors direct the negotiating
21
22 committee and other staff to negotiate the final terms of a Construct and Lease
23 Agreement and such other documents necessary and required to accomplish the
24 transaction.
25 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
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27 THE CITY OF LITTLE ROCK, ARKANSAS:
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SECTION 1. The Board of Directors hereby accepts the attached Resolution of
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30 the Advertising and Promotion Commission and approves of the recommendation that
31 the Seymour Logan Associates be granted the right to own and the obligation to operate
32 the least, air rights and improvements now known as the Camelot Hotel as a first class
33 convention hotel, and directs that the negotiating committee and other staff of the City
34 and the Advertising and Promotion Commission be directed to negotiate the final terms
35
of a Construct and Lease Agreement and such other documents necessary and required
36
to accomplish the transaction.
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ADOPTED: May 16, 1994
ATTEST:
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APPROVED AS TO FORM:
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BILL MANN
CHIEF DEPUTY CITY ATTORNEY
APPROVED:
JI AILEY, MAY R
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227
RESOLUTION
BE IT RESOLVED BY THE LITTLE ROCK ADVERTISING AND
PROMOTION COMMIISSION THAT:
SECTION 1. The Commission does hereby accept and approve the
Report of the Negotiating Committee and does approve and adopts the
recommendation of the Negotiating Committee that Seymour Logan
Associates be granted the right to own and the obligation to operate the lease,
air rights and improvements now ]mown as the Camelot Hotel as a first class
convention hotel.
SECTION 2. BE IT FURTHER RESOLVED that the Commission
does hereby recommend to the Board of Directors of the City of Little Rock
that it grant the right to own and the obligation to operate the lease, air rights
and improvements now known as the Camelot Hotel as a first class
convention hotel to Seymour Logan Associates and that the Negotiating
Committee and other staff of the A &P Commission and the City of Little
Rock be directed to proceed to negotiate the final terms of a Construct and
Lease Agreement and such other documents necessary and required to
accomplish the transaction contemplated hereby.
This Resolution shall be in full force and effect from and after its adoption.
TED:
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