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<br />RESOLUTION NO, <br /> <br />87-046 <br /> <br />WHEREAS, the City of Paris did in Resolution <br />authorize the leasing of the amusement park <br />Culbertson Park to Kenneth Gifford for a term of <br />years; and, <br /> <br />No. 2155 <br />area of <br />five (5) <br /> <br />WHEREAS, Mr. Gifford has rebuilt half of the golf holes <br />and has plans to rebuild the remainder this year; and, <br /> <br />WHEREAS, due to cost overruns in said rebuilding <br />process and the associated loss of business has resulted in <br />the a payment schedule which will be completed July 1, 1987; <br />and, <br /> <br />WHEREAS, Mr. Gifford's performance under said lease has <br />been satisfactory and he has requested an additional term of <br />five (5) years with a five (5) year option, with authority <br />to operate said park until 12:00 o'clock midnight; and, <br /> <br />WHEREAS, the form of such lease is attached hereto as <br />Exhibit A; NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, That the Mayor of the City of Paris, Billy Joe <br />Burnett, be, and he is hereby authorized and directed to <br />execute on behalf of the City of Paris, the lease between <br />the City of Paris and Kenneth Gifford, attached hereto as <br />Exhibit A, for a term of five (5) years beginning April 1, <br />1987, and ending March 31, 1992, with an option to renew and <br />extend lease for an additional period of five (5) years. <br /> <br />Passed and adopted this 13th day of April, 1987. <br /> <br />~~ <br />Bi Y Burnett, Mayor <br /> <br />ATTEST: <br /> <br />~'-tr\.~ \: ~\~~. -~~?tJ <br />Mattie Cunningham, 'ty erk <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />~~~ <br />