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DESCRIPTION: The Legal Department has enclosed a resolution which would be appropriate for <br />releasing the City's retained interest and security interest in the fuel truck, and authorizes the Mayor <br />to transfer the title of the fuel truck on behalf of the City of Paris to J. B. Richey. If the City Council <br />is of the belief that additional security should be posted, or that action on release of the truck should <br />be deferred until additional security is provided, then such action would have to be taken by Council <br />motion or subsequent formal action at a later Council meeting. <br /> <br />RECOMMENDED ACTION: Consider a resolution authorizing the release of the City's security <br />and retained interest in the title to a fuel truck at Cox Field Airport to the benefit to Mr. J. B. Richey, <br />Fixed Base Operator. <br /> <br />COST: The cost to the City would be the release of whatever value the City's retained or security <br />interest is in the title to the fuel truck. <br /> <br />STAFF CONTACT: Thomas E. Haynes, Project Director, and Larry W. Schenk, City Attorney <br /> <br />SCHEDULE: Not applicable. <br /> <br />COUNCIL MEETING: Consider for Council action at City Council's regular meeting of August <br />13, 2001. <br /> <br />ADDITIONAL MATERIALS: See enclosed Resolution authorizing transfer of the title of the truck <br />to Mr. J. B. Richey and a June 22, 2001, invoice for fuel spill expenses at the airport. <br /> <br /> <br />