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<br />RESOLUTION NO, 923
<br />WHEREAS, Anchor Enterprises, Inc. has presented to the City
<br />Gouncil a deta.iled - proposal, consisting of three pages, and a plat of
<br />Record Park which belongs to the City of Paris, for certa.in improve-
<br />ments, and under certain terms and conrlitions, to be located on the
<br />Record Park area, which Record Park area is bounded on the 5outh
<br />by Henderson Street and on the West by 7th Street, N. W., in the City
<br />of Paris; and,
<br />WHEREAS, they propose certain attractive entertainment features
<br />to be opened to the users of the Park, without charge, and certa.in
<br />features, including a skating rink, a dance pavilion, a trampolene
<br />center, a swimming pool, and a miniature golf course, which above
<br />mentioned improvements will be enclosed in a cyclone fence, and
<br />reasonable charges to be ma.de for the use of such facilities; and,
<br />WHEREAS, the proposal provides for one per cent (1%) of the
<br />gross receipts from any concessions, including drinks and foods, sold
<br />on the concession areas during the first year of said lease, and one
<br />and one-half per cent (1-1 1/2°fo) of the gross receipts thereon for the
<br />next four (4) years, and two per cent (21o) of the gross receipts for the
<br />pursuing five (5) years thereafter; and,
<br />WHEREA5, said corporation proposes to lease the area involved,
<br />as shown on said plat, for a period of five (5) years, beginning June 17,
<br />1960, and continuing for a period of five (5) years, with an option to
<br />renew such lease for an additional term of five (5) years, by giving to
<br />the City Council written notice thirty (30) days prior to the expiratian of
<br />the five (5) years of its intention to exercise its option to renew and
<br />extend said lease, and in the second five (5) years if such option is
<br />renewed and extended, the Lessee agrees to pay two per cent (2%) of
<br />its gross receipts; and,
<br />WHEREAS, ttie improvements proposed will enta.il the expenditure
<br />of considerable cash and monies which it would be impossible to amortize
<br />over a shorter period of time, and ihe Council is of the opinion that a
<br />lease for a term of five (5) years, with an option to renew for five (5)
<br />years, is to the advantage of the City of Paris, and will facilita.te in
<br />furnishing to the users of Record Park adequate and necessary facilities
<br />for recreation and entertainment; NOW, THEREFORE,
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
<br />PARIS, That the Mayor, William C. Ragan, be, and he is hereby
<br />authorized to enter into a lease contract and which lease is to incor-
<br />porate substantially the proposal as submitted to the Council.
<br />Passed and adopted this 13th day of June, A. D., 196U. ~
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<br />ayor
<br />ATTEST: ~
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<br />A cting City Clerk
<br />APP OVED AS TO FORM:
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<br />City Attorney
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