2020-029 - Approving a Five Year Extension of the Cox Field Agricultural Lease with Carey Eatherly and Ryan Eatherly for approximately 350 acres

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RESOLUTION NO. 2020-029 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING A FIVE YEAR EXTENSION OF THE COX FIELD AGRICULTURAL LEASE BETWEEN THE CITY OF PARIS, TEXAS AND CAREY EATHERLY AND RYAN EATHERLY FOR APPROXIMATELY 350 TILLABLE ACRES OF LAND IN AND AROUND THE RUNWAYS AND TAXIWAYS OF COX FIELD IN THE CITY OF PARIS, LAMAR COUNTY, TEXAS; AUTHORIZING THE CITY MANAGER TO EXECUTE THE LEASE EXTENSION AGREEMENT; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Carey Eatherly and Ryan Eatherly enjoy an existing agricultural lease agreement with the City of Paris for approximately 350 tillable acres of land in and around the runways and taxiways of Cox Field, utilized solely for growing hay; and, WHEREAS, the current lease was for a period of five (5) years, beginning January 1, 2016 and ending December 31, 2020; and WHEREAS, Carey Eatherly and Ryan Eatherly wish to extend the lease for an additional five years beginning January 1, 2021 and ending December 31, 2025 and timely notified the City of same as provided in the lease; and WHEREAS, the City Council of the City of Paris hereby finds that it is in the best interest of the City of Paris and its citizens to extend the Agricultural Lease Agreement and does hereby authorize the City Manager to execute the Lease Extension Agreement attached hereto and incorporated herein as Exhibit AA, with Carey Eatherly and Ryan Eatherly, for the approximately 350 tillable acres of land acres of land; and, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved. Section 2. The Lease Extension Agreement between the City of Paris and Carey Eatherly, a copy of which is attached hereto as Exhibit A. be, and the same is hereby approved. Section 3. The City Manager of the City of Paris be, and is hereby authorized to execute said lease extension agreement and any and all other documents necessary to effectuate the lease extension agreement. Section 4. This resolution shall be effective immediately upon passage.