0673
48
ORDINANCE NO. 6 7 3
AN ORDINANCE AUTHORIZING A LEASE AND AGREEMENT BY AND BETWEEN THE CITY OF
JACKSONVILLE, ARKANSAS, AS LESSOR AND VERTAC CHEMICAL CORPORATION, AS
LESSEE IN SUBSTANTIALLY THE FORM AND WITH THE CONTENTS SET FORTH AND MADE
A PART OF THE ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF THE
LEASE AND AGREEMENT; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DE-
CLARING AN EMERGENCY.
BE IT ORDAINED by the City Council of the City of Jacksonville,
Arkansas:
Section 1. That there be, and there is hereby authorized the execution
and delivery of a Lease and Agreement wherein the City of Jacksonville,
Arkansas (the IICityll), is Lessor, and Vertac Chemical Corporation, a cor-
poration ("Vertac"), is Lessee, in substantially the form and with sub..;
stantially the contents hereinafter set forth, and the Mayor and the City
Clerk be, and they are hereby, authorized to execute, acknowledge and deliver
the Lea se and Agreement for and on beha 1 f of the Ci ty. The form and contents i)
of the Lease and Agreement, which are hereby approved and which are made
a part hereof, shall be substantially as follows:
,4Q
ORDINANCE NO. 6 7 3
Section 2. That the Mayor and City Clerk be and they are hereby
authorized and directed, for and on behalf of the City, to do all things,
execute all instruments and otherwise take all action necessary to the
realization of the City's rights and to the discharge of the City's obli-
gations as Lessor under the Lease and Agreement.
Section 3. That the provisions of this Ordinance are hereby declared
to be separable, and if any section, phrase or provision shall, for any
reason, be declared to be invalid, such declaration shall not affect the
validity of the remainder of the sections, phrases or provisions.
Section 4. That all ordinances and parts of ordinances in conflict
herewith are hereby repealed to the extent of such conflict.
Section 5. That there is hereby found and declared to be an immediate
need for the securing and developing of industry in the City in order to provide
additional employment and increased payrolls, alleviate unemployment and provide
other benefits incidental to the operation of a substantial industry, and the
execution and delivery of the Lease and Agreement authorized by this ordinance
are necessary for the accomplishment of these public benefits and purposes.
It is therefore declared that an emergency exists, and this Ordinance, being
necessary for the immediate preservation of the public peace, health and safety,
shall be in force and take effect immediately upon and after its passage.
PASSED this
18 day of
Ma rc h
, 1982.
APPROVED:
.~~
ATTEST:
~J _1O..Jf' ~~
CITY CLERK
APPROVED AS
(EMERGENCY CLAUSE ADOPTED.
ORDINANCE EFFECTIVE IMMEDIATELY)
~
----..,.