1996-095-Extending Hay Lease Agreement with Barrow at Lake Gibbons

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RESOLUTION NO. 96-095 WHEREAS, the City Council of the City of Paris did heretofore, in Resolution No. 86-089, on the 8th day of September, 1986, authorize the execution of a Hay Lease Agreement with LOYD BARROW and SYBIL BARROW; and, WHEREAS, the City Council of the City of Paris is in receipt of an Exercise of option from LOYD BARROW and SYBIL BARROW, attached hereto as Exhibit A, for a ten (10) year extension of said Lease dated September 8, 1986; and, WHEREAS, the City Council deems it appropriate to grant the exercise of option to LOYD BARROW and SYBIL BARROW for ten years, which will extend the terms of said lease from August 1, 1996, to July 31, 2006, and the City Manager, Michael E. Malone, should be authorized to acknowledge acceptance of said Exercise of Option by signing the same; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the exercise of the ten (10) year option by LOYD BARROW and SYBIL BARROW beginning August 1, 1996 and ending July 31, 2006, attached hereto as Exhibit A, be, and the same is hereby acknowledged; and, BE IT FURTHER RESOLVED, that Michael E. Malone, City Manager of the City of Paris, be, and he is hereby,authorized and directed to acknowledge acceptance, on behalf of the City of Paris, of said Exercise of Option, attached hereto as Exhibit A, by signing the same. PASSED AND ADOPTED this the 9th day of September, 1996. ..f,A µ Eric S. Clil`1'prd', Mayor ATTEST: Mattie Cunningham, City Cler w APPROVED AS TO FORM: T. K. Haynes, C' Attorney