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<br />RESOLUTION NO. <br /> <br />91-078 <br /> <br />WHEREAS, the City Council of the City of Paris did in <br />Resolution No. 88-030, dated April 11, 1988, authorize the <br />awarding of the bid for a hay crop lease on Lake Gibbons <br />property to B. J. Fain; and, <br /> <br />WHEREAS, Mr. Fain is not desirous of continuing the <br />lease on said property and has requested cancellation of his <br />lease and has offered to give ownership of the barbed wire <br />fences on the hay lease property as compensation for the <br />balance owed on the lease through 1993; and, <br /> <br />WHEREAS, it is agreeable that said Lease be cancelled <br />which can be accomplished by execution of the Release of <br />Lease, form attached hereto as Exhibit "A"; and, <br /> <br />WHEREAS, the sale of existing meadow grass as hay, if <br />a market is available, should be authorized; and, <br /> <br />WHEREAS, it would be right and proper to advertise for <br />bids for lease of 235 acres of Lake Gibbons property <br />consisting of 175 acres of hay lease and 60 acres of pasture <br />and in the alternative accept separate bids for 175 acres of <br />hay lease and 60 acres of pasture; NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />that the lease with B. J. Fain on Lake Gibbons property be, <br />and the same is hereby cancelled. <br /> <br />BE IT FURTHER RESOLVED, that the Release of Lease, <br />releasing B. J. Fain from further obligation under hay crop <br />lease authorized by Resolution No. 88-030 is hereby approved. <br /> <br />BE IT FURTHER RESOLVED, that the said Release of Lease <br />is hereby approved, and the Mayor of the City of Paris, <br />George Fisher, be, and he is hereby author ized and directed <br />to execute on behalf of the City of Paris the Release of <br />Lease in the form of Exhibit A, attached hereto. <br /> <br />BE IT FURTHER RESOLVED, that the sale of existing meadow <br />grass as hay, if a market is available, is hereby authorized. <br /> <br />BE IT FURTHER RESOLVED, that the City Clerk, Mattie <br />Cunningham, be, and she is hereby authorized to advertise for <br />bids for lease for 265 acres of Lake Gibbons property, to be <br />received after due notice and thereafter returned to City <br />Council for letting at 3:00 P.M. on Wednesday, July 31, 1991, <br />and should be presented to the City Council on the next <br />regular or special council meeting, for the purpose of <br />letting such bid. <br /> <br />Passed and adopted this the 15th day of July, 1991. <br /> <br />(~~/~ <br />