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1372 <br />RESOLUTION NO. <br />WHERFAS, the City Council of the City of Paris has for <br />several years leased a certain area known as the Fair Grounds <br />to the Red River Valley Exposition, Inc., a Texas corporation; <br />and, <br />WHEREAS, said past Iease expired on the 23rd day of <br />April, 1970; and, <br />VJHEREAS, the City Council of the City of Paris is de- <br />sirous of encouraging the fair conducted by the Red River <br />Valley Exposition, Inc., by granting a new lease with the same <br />terms and conditions as the previous lease, except as to term, <br />and with -the additional right and privilege being granted the <br />City of Paris to cancel said lease on or before the 1st day of <br />April of any year, and further that the City of Paris should <br />have the right and privilege of using any portions of said pro- <br />perty so leased for functions sponsored by the City of Paris <br />or any departments thereof, which function has been approved <br />by the City Council of the City of Paris, all of which functions <br />shall be conducted on a non-interfering basis with the annual <br />fair conducted by the Red River Valley Exposition, Inc.; and, <br />WHEREAS, the primary term of said lease shall be from the <br />1st day of May, 1970 through the 30th day of April, 1975, with <br />a five year option; NOW, THEREFORE, <br />BE IT RFSOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />PARIS, TEXAS, That B. M. Felty, Mayor of the City of Paris, be, <br />and he is hereby author ized to enter into a lease for the Fair <br />Ground properties, with Red River Valley Exposition, Inc., for <br />a period of five (5) years, beginning May 1, 1970 and continu- <br />ing five years from date, with an option to renew said lease <br />at the expiration of the primary term for an additional period <br />of five (5) years by giving notice in writing of its intention <br />to renew said lease thixty days prior to the expiration of the <br />primary term of the lease and giving and granting the City of <br />Paris the right and privilege of cancelling said lease by giv- <br />ing notice on or before the lst day of Apra.l of any year, <br />either during the primary term or during the option term, and <br />the City of Paris shall have the right and privilege of using <br />any portion of said property so leased for functions sponsored <br />by the City of Paris or any department thereof, which function <br />has been approved by the City Council of the City of Paris, all <br />of which functions shall be conducted on a non-interfering basis <br />with the annual fair conducted by the Red River Valley Exposition, <br />Inc. <br />Passed and adopted this llth day of May, 1970. <br />~ ~-c " tK~_ <br />,1 ~ <br />B. M. Felty, Mayor <br />ATT FST : <br />-Q%'~~~ - <br />H. C. Greene, City Clerk <br />APPROVED FORM: <br />T. K. Haynes, City Attorney <br />